{"title":"Cointegration and aggregation","authors":"Jesus Gonzalo","doi":"10.1016/0035-5054(93)90031-W","DOIUrl":null,"url":null,"abstract":"<div><p>This paper explores the conditions under which cointegration at the micro level implies cointegration at the macro level and vice versa. The aggregation conditions considered in this paper are in terms of common factors assumptions rather than the representative agent assumption, thereby allowing for a certain kind of heterogeneity among agents.</p></div>","PeriodicalId":101136,"journal":{"name":"Ricerche Economiche","volume":"47 3","pages":"Pages 281-291"},"PeriodicalIF":0.0000,"publicationDate":"1993-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/0035-5054(93)90031-W","citationCount":"33","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Ricerche Economiche","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/003550549390031W","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 33
Abstract
This paper explores the conditions under which cointegration at the micro level implies cointegration at the macro level and vice versa. The aggregation conditions considered in this paper are in terms of common factors assumptions rather than the representative agent assumption, thereby allowing for a certain kind of heterogeneity among agents.
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