JAPANESE IMPORT BEHAVIOR AND COINTEGRATION - A COMMENT

In a recent paper, Mah (1994) investigated the behavior of Japanese ag gregate import and argued that there was no empirical evidence in favo r of the existence of a traditional imperfect-substitutes long-run imp ort demand model using cointegration analysis. In this paper we reinve stigate the problem in a coherent multivariate framework and point out that the results of Mah (1994) are very much dependent on the approac h he followed. (C) Society for Policy Modeling, 1996.