Asymmetric adjustment and bias in estimation of an equilibrium relationship from a cointegrating regression

This paper uses Monte Carlo methods to investigate the effects of asymmetric adjustment on estimates of the parameters of the equilibrium relationship between a set of variables.We demonstrate that simple least squares estimates and the implicit estimates from a symmetric error correction model both...

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Bibliographic Details

Main Authors:	Sean Holly, Paul Turner, Melvyn Weeks
Format:	Default Article
Published:	2003
Subjects:	Other economics not elsewhere classified untagged Economics not elsewhere classified
Online Access:	https://hdl.handle.net/2134/2056
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