Investigation of production, sales and inventory relationships using multicointegration and non-symmetric error correction models
利用多重协整与非对称误差修正模型研究生产、销售和库存关系
The accumulated sum of a stationary series is called integrated. If a linear combination of some of the integrated series is stationary, it is said to be cointegrated. This paper presents empirical results on inventories to consider the possibility of a deeper form of cointegration called multicointegration, which is introduced in Granger and Lee (1989). A vector integrated series is multicointegrated if the accumulated sum of its stationary (cointegrated) linear combination…