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This paper examines the inflation hedging ability of gold in the UK based on a fractional integration and cointegration framework. This gives more flexibility as it does not restrict the order of integration between zero and 1. Annual time series data covering 1257–2016 were used. We conducted both full sample and sub-sample analysis. Using the full sample, the findings shows that gold and retail...
This study examines the relationship between healthcare expenditure and disposable income in the 50 US states over the period 1966–2009 using fractional integration and cointegration techniques. The degree of integration and nonlinearity of both series are found to vary considerably across states, while the fractional cointegration analysis suggests that a long-run relationship exists between them...
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