This paper proposes an alternative estimation method for cointegration, which allows for variation in the leads and lags in the cointegration relation. The method is more powerful than a standard method. Illustrations to annual inflation rates for Japan and the USA and to seasonal cointegration for quarterly consumption and income in Japan shows its ease of use and empirical merits.

中文翻译：

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时变滞后协整

本文提出了一种协整估计的替代方法，该方法允许协整关系中的超前和滞后发生变化。该方法比标准方法更强大。日本和美国的年度通货膨胀率以及日本季度消费和收入的季节性协整关系的图示说明了其易用性和经验价值。