Cointegration and Tests of Present Value Models
收藏NBER1986-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w1885
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资源简介：
In a model where a variable Y[sub t] is proportional to the present value, with constant discount rate, of expected future values of a variable y[sub t] the "spread" S[sub t]= Y[sub t] - [theta sub t] will be stationary for some [theta] whether or not y[sub t]must be differenced to induce
提供机构：
美国国家经济研究局
创建时间：
1986-04-01
