<?xml version="1.0"?>
<rdf:RDF xmlns:rdf='http://www.w3.org/1999/02/22-rdf-syntax-ns#' 
         xmlns:rdfs='http://www.w3.org/2000/01/rdf-schema#' 
         xmlns:dc='http://purl.org/dc/elements/1.1/' 
         xmlns:dcterms='http://purl.org/dc/terms/'>

<rdf:Description>

<!-- static entries -->

    <dc:publisher>Economics: The Open-Access, Open Assessment E-Journal</dc:publisher>
    <dc:publisher>http://www.economics-ejournal.org</dc:publisher>
    <dc:language>en</dc:language>

<!-- generated entries --> 

<dc:creator>Elena Schneider</dc:creator>
<dc:creator>Pu Chen</dc:creator>
<dc:creator>Joachim Frohn</dc:creator>
<dc:title>A Long-Run Structural Macroeconometric Model for Germany: An Empirical Note</dc:title>
<dc:date>2008-06-02</dc:date>
<dc:description>To provide an modelling strategy with transparent and theoretically coherent foundation
has been one of the targets of the paper by Garratt, Lee, Pesaran and Shin. They develop a core
model for a small open economy based production technology, arbitrage conditions, flow
identities and long-run solvency conditions. This leads to five long-run relations: the
uncovered interest rate parity, the purchasing power parity, production function, trade
balance and real money balance. Since the economic theory there is formulated generally but
not restricted to the economy of UK for which their empirical model is implemented, we expect
that this modelling strategy should be able to generate similar results for the data of other
countries. In this empirical note we apply the modelling strategy to German data to see in how
far the economic theory formulated there can account for German data. We are able to identify
five cointegration relations in a conditional vector error correction model and the
overidentification restrictions of the five cointegration relations as, UIP, PPP,
production function, trade balance and real money balance are not rejected by the data.</dc:description>
<dc:identifier>http://www.economics-ejournal.org/economics/journalarticles/2008-16</dc:identifier>
<dc:subject>JEL C32</dc:subject>
<dc:subject>JEL E24</dc:subject>


</rdf:Description>
</rdf:RDF>

