Good and important question. Never thought about it as I assumed it has
to be the ordering LRM(-1)/LRY(-1)/IBO(-1).
Artur
Am 15.04.2017 um 19:24 schrieb Sven Schreiber:
Am 15.04.2017 um 15:01 schrieb Artur Tarassow:
> Here is a list of the two options as they are implemented currently.
> list ylist = LRM LRY
> list rlist = IBO
>
> # exogenous only in the coint. space but not in the VAR
> vecm 2 1 ylist ; ; rlist
Yeah, but that does not answer the question of whether the
error-correction term as written on the right-hand side of the
equation(s) is composed of LRM(-1)/LRY(-1)/IBO or of
LRM(-1)/LRY(-1)/IBO(-1). That's my question.
thanks,
sven