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Weak Convergence to the Matrix Stochastic Integral BdB

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Author Info
Peter C.B. Phillips () (Cowles Foundation, Yale University)

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Abstract

The asymptotic theory of regression with integrated processes of the ARIMA type frequently involves weak convergence to stochastic integrals of the form integral_{0}^{1}WdW, where W(r) is standard Brownian motion. In multiple regressions and vector autoregressions with vector ARIMA processes the theory involves weak convergence to matrix stochastic integrals of the form integral_{0}^{1}BdB', where B(r) is vector Brownian motion with non scalar covariance matrix. This paper studies the weak convergence of sample covariance matrices to integral_{0}^{1}BdB' under quite general conditions. The theory is applied to vector autoregressions with integrated processes.

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Publisher Info
Paper provided by Cowles Foundation, Yale University in its series Cowles Foundation Discussion Papers with number 796.

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Length: 18 pages
Date of creation: Jul 1986
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Publication status: Published in Journal of Multivariate Analysis (February 1988), 24(2): 252-264
Handle: RePEc:cwl:cwldpp:796

Note: CFP 697.
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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Related research
Keywords: Integrated process; invariance principle; near integrated time series; stochastic integral; vector autoregression; weak convergence;

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References listed on IDEAS
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  1. Phillips, P C B & Durlauf, S N, 1986. "Multiple Time Series Regression with Integrated Processes," Review of Economic Studies, Blackwell Publishing, vol. 53(4), pages 473-95, August. [Downloadable!] (restricted)
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  2. Peter C.B. Phillips, 1985. "Time Series Regression with a Unit Root," Cowles Foundation Discussion Papers 740R, Cowles Foundation, Yale University, revised Feb 1986. [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Peter C.B. Phillips, 1986. "Regression Theory for Near-Integrated Time Series," Cowles Foundation Discussion Papers 781R, Cowles Foundation, Yale University, revised Jan 1987. [Downloadable!]
    Other versions:
  2. H. Herwartz & M. Neumann, . "Bootstrap Inference in Single Equation Error Correction Models," Sonderforschungsbereich 373 2000-87, Humboldt Universitaet Berlin.
  3. Peter C.B. Phillips & Steven N. Durlauf, 1985. "Multiple Time Series Regression with Integrated Processes," Cowles Foundation Discussion Papers 768, Cowles Foundation, Yale University. [Downloadable!]
    Other versions:
  4. J. Joseph Beaulieu & Jeffrey A. Miron, 1992. "Seasonal Unit Roots in Aggregate U.S. Data," NBER Technical Working Papers 0126, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Peter C.B. Phillips & Sam Ouliaris, 1986. "Testing for Cointegration Using Principal Component Measures," Cowles Foundation Discussion Papers 809R, Cowles Foundation, Yale University, revised Jul 1987. [Downloadable!]
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