Error correction modeler. co-integration and the internal model principle

Mark Salmon

No 268250, Economic Research Papers from University of Warwick - Department of Economics

Abstract: The paper considers the conditions under which a system of dynamic equations will be corisisterrt with some prespecified inultivariate equilibrium specification. Connections are also drawn between recer► t develuprnents in the analysis of multivariate error correction models and the theory of co-integration and what is kr► uwn as —rhe Internal Model Principle" in the design of robust linear feedback rules . Apart from clarifying and generalising our understanding of error currectiun systems and co-- integration this approach suggests a relatively simple method for identifying the restrictions that detern-iir,e whether a given dynamic system satisfies the conditions for being an error correction specification.

Keywords: Agricultural and Food Policy; Financial Economics (search for similar items in EconPapers)
Pages: 36
Date: 1986-09-09
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uwarer:268250

DOI: 10.22004/ag.econ.268250

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