Consider the Following Vector Error Correction (VECM) Model $\Delta$ Y_t = Y_t-5 + ₁

question 8

Multiple Choice

Consider the following vector error correction (VECM) model: $\Delta$ y_t = y_t-5 + ₁ $\Delta$ y_t-1 + 11efcd90_39fd_be4b_b057_81d80004b874_TB7071_00₂ $\Delta$ y_t-2 + 11efcd90_39fd_be4b_b057_81d80004b874_TB7071_00₃ $\Delta$ y_t-3 + 11efcd90_39fd_be4b_b057_81d80004b874_TB7071_00₄ $\Delta$ y_t-4 + u_t
Where y_t is a k* 1 vector of variables, and u_t is a k* 1 vector of disturbances.
Which of the following statements is true of the VECM?

• A) Johansen's test for cointegration centres on the rank of the matrix ₁
• B) If the variables y_t are cointegrated, will be of full rank
• C) If the rank of is zero, the variables are cointegrated
• D) Provided that all of the series in y are nonstationary, the rank of can be at most k-1.

Understand the protections and limitations established by the Bill of Rights and subsequent amendments.

Explain the concept and implications of the exclusionary rule in the judicial process.

Analyze the role and interpretations of the Second Amendment in the context of gun control debates.

Examine the processes and impact of the incorporation of the Bill of Rights to the states via the Fourteenth Amendment.

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