Structural Changes in the Real GNP Interdependence of the USA, West Germany, and Japan: 1970–1986

  • Masanao Aoki
Conference paper


This chapter first locates quarters in the early 1970s at which the cUovariance matrices of the innovation vectors have shifted for the real GNPs of the USA, West Germany, and Japan treated as univariate series. The chapter then exhibits differences in the impulse response time profiles of the two models estimated from the data primarily before and after the break as a concise Summary of the changes in dynamic interactions of the three real GNPs.


Manifold Covariance 


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Copyright information

© Springer-Verlag Berlin Heidelberg 1991

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  • Masanao Aoki

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