2024
DOI: 10.9734/ajpas/2024/v26i1584
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Stabilizing Error Correction Mechanism in the Presence of Explosiveness

Modupe O. Abifarin,
Audu Isah,
Yisa Yakubu
et al.

Abstract: In the presence of explosiveness of the adjustment term in the error correction model, the adjustment of the dependent variable Y was too large and overshoots the equilibrium, creating a divergent pattern. The error correction model fails to capture the deviation from equilibrium appropriately, thereby resulting in overshooting of the model. In this paper, a new model to stabilize the explosiveness in an Error Correction model called the stabilizing Error Correction Mechanism was proposed. Mathematical methodo… Show more

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