Survey expectations and stochastic trends in modelling the employment: output equation

Article Abstract:

Relevance of survey data or stochastic trends in explaining movements used in the UK to Finnish employment-output equations is examined using a combination stochastic modelling strategy and forward-looking expectations model. Results indicate that the employment- output equation outperforms the standard specifications of survey-based expectations. Furthermore, stochastic trend model results are statistically comparable to the results obtained from deterministic specifications.

Models, Employment, Employment surveys

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Multiconintegration in stock-flow models

Article Abstract:

A study demonstrates through an example how an analysis of multicointegration among economic variables integrated of order two, or I(2), in estimation and hypothesis testing can be undertaken. The study also aims to demonstrate how multicointegrated variables from a general vector autoregression can be given two equivalent error correction model representations. The I(2) analysis procedures developed in the study appear to work well for small, stylized models.

Evaluation, Stocks

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Similarity issues in cointegration analysis

Article Abstract:

The usage of canonical correlations, cointegration models and stochastic systems in statistical analysis is presented.

United Kingdom, Statistical Data Included, Usage, Canonical correlation (Statistics), Model theory

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