Abstract

The unifying framework proposed by Hylleberg et al. (1990) for testing and modelling seasonally integrated and cointegrated variable is introduced. These methods are applied to a seasonal manufacturing labour-demand model for the years 1970:1–1986:4. Seasonal integration and cointegration are established for the variables at the different seasonal frequencies. The estimated error-correction model indicates that the high-frequency components of the models adjust more strongly towards equilibrium states than the lower frequency components.

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