Temporal causality and the dynamics of judicial appellate caseload, real income and socio-economic complexity in Australia
Author(s)
Narayan, Paresh
Smyth, Russell
Griffith University Author(s)
Year published
2006
Metadata
Show full item recordAbstract
This study applies Granger causality tests within a multivariate error correction framework to examine the relationship between judicial caseload, real income and urbanization for Australia using annual data from 1904 to 2001. Decomposition of variance and impulse response functions are also considered. The Granger causality results as well as the decomposition of variance and impulse response functions suggest that urbanization is the most exogenous of the three variables in both the long run and short run while judicial caseload and real income are relatively exogenous in the short run.This study applies Granger causality tests within a multivariate error correction framework to examine the relationship between judicial caseload, real income and urbanization for Australia using annual data from 1904 to 2001. Decomposition of variance and impulse response functions are also considered. The Granger causality results as well as the decomposition of variance and impulse response functions suggest that urbanization is the most exogenous of the three variables in both the long run and short run while judicial caseload and real income are relatively exogenous in the short run.
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Journal Title
Applied Economics
Volume
38
Issue
19
Subject
Applied Economics
Econometrics
Banking, Finance and Investment