Investment Opportunities in Australia’s Healthcare Stock Markets After the Recent Global Financial Crisis

Jonathan Penm, Betty Chaar and Rebekah Moles

University of Sydney

Chapter Outline

36.1 Introduction

There has already been widespread use of vector autoregressive (VAR) models and vector error-correction models (VECM) for analyzing dynamic relationships among financial variables. Granger (1981), Sims (1980) and Sargent (1987), who won Nobel Prizes in Economics, advocated the use of full-order VAR modeling to capture the linear interdependencies among multiple time series. Engle and Granger (1987) noted ...

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