This paper suggests that the relevant question concerning unit root' in the U.S. real GNP time series pertains to the relative importance of difference-stationary and trend-stationary components. Vari
The papers in this symposium use Monte Carlo simulations to demonstrate the consequences of estimating time series models with variables that are of different orders of integration. In this summary, I
Although ARCH-related models have proven quite popular in finance, they are less frequently used in macroeconomic applications. In part this may be because macroeconomists are usually more concerned a
