Conclusion: Limitations, Developments and Alternatives

  • Simon P. Burke
  • John Hunter
Part of the Palgrave Texts in Econometrics book series (PTEC)


Many economic theories, especially those in macroeconomics, are theories of the way in which economic processes interact with one another to provide a stable set of underlying equilibrium relationships. Failure to observe equilibrium is strong evidence against the theory predicting its existence.


Structural Break High Order Moment Panel Data Model Equilibrium Relationship Previous Chapter 
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© Simon P. Burke and John Hunter 2005

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  • Simon P. Burke
  • John Hunter

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