Modelli con correzione dell'errore e stima dei moltiplicatori di lungo periodo

A. M. Binotti
The present note considers recent developments on the use of various transformations of a general autoregressive-distributed lag (AD) model for estimation of long run multipliers. We observe that Bardsen (1989) and Banerjee, Galbraith and Dolado (1990) ECM transformations do not provide an efficient research strategy since they do not provide the near-orthogonality of regressors and a direct test of long-run proportionality or homogeneity hypothesis. Our main point here is that there is no need in...