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The error-correction model Consider the general ARDL(1,1) model

The error-correction model Consider the general ARDL(1,1) model. This can be written as:. This is the error-correction form of the model. The important features of the error-correction model are: 1. A relationship between the growth rate (or differences) of the

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Ardl 1 - PowerPoint PPT Presentation

The error-correction model Consider the general ARDL(1,1) model