Error Corrected Disequilibrium
We derive an econometric disequilibrium model for time series data. This is done by error correcting the supply of some good. The model naturally separates between a continuously clearing market and a clearing market in the long-run such that we are able to obtain a novel test of clearing markets. We apply the model to the Swedish market for short-term business loans, and find that this market is characterized by a long-run non-market clearing equilibrium.
|Date of creation:||17 Feb 2012|
|Contact details of provider:|| Postal: Department of Economics, Umeå University, S-901 87 Umeå, Sweden|
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Web page: http://www.econ.umu.se/
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"Credit Market Disequilibrium in Poland: Can We Find What We Expect? Non-Stationarity and the ???Min???Condition,"
William Davidson Institute Working Papers Series
2003-581, William Davidson Institute at the University of Michigan.
- Christophe Hurlin & R. Kierzenkowski, 2004. "Credit Market Disequilibrium in Poland: Can we find what we expect? Non Stationarity and the Min Condition," Post-Print halshs-00257379, HAL.
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