id	sid	tid	token	lemma	pos
ejge-4303	1	1	microsoft	microsoft	PROPN
ejge-4303	1	2	word	word	PROPN
ejge-4303	1	3	ejge_03_02_014.doc	ejge_03_02_014.doc	PROPN
ejge-4303	1	4	european	european	ADJ
ejge-4303	1	5	journal	journal	NOUN
ejge-4303	1	6	of	of	ADP
ejge-4303	1	7	government	government	NOUN
ejge-4303	1	8	and	and	CCONJ
ejge-4303	1	9	economics	economic	NOUN
ejge-4303	1	10	volume	volume	NOUN
ejge-4303	1	11	3	3	NUM
ejge-4303	1	12	,	,	PUNCT
ejge-4303	1	13	number	number	NOUN
ejge-4303	1	14	2	2	NUM
ejge-4303	1	15	(	(	PUNCT
ejge-4303	1	16	december	december	PROPN
ejge-4303	1	17	2014	2014	NUM
ejge-4303	1	18	)	)	PUNCT
ejge-4303	1	19	issn	issn	PROPN
ejge-4303	1	20	:	:	PUNCT
ejge-4303	1	21	2254	2254	NUM
ejge-4303	1	22	-	-	SYM
ejge-4303	1	23	7088	7088	NUM
ejge-4303	1	24	148	148	NUM
ejge-4303	1	25	the	the	DET
ejge-4303	1	26	role	role	NOUN
ejge-4303	1	27	of	of	ADP
ejge-4303	1	28	confidence	confidence	NOUN
ejge-4303	1	29	in	in	ADP
ejge-4303	1	30	the	the	DET
ejge-4303	1	31	evolution	evolution	NOUN
ejge-4303	1	32	of	of	ADP
ejge-4303	1	33	the	the	DET
ejge-4303	1	34	spanish	spanish	ADJ
ejge-4303	1	35	economy	economy	NOUN
ejge-4303	1	36	:	:	PUNCT
ejge-4303	1	37	empirical	empirical	ADJ
ejge-4303	1	38	evidence	evidence	NOUN
ejge-4303	1	39	from	from	ADP
ejge-4303	1	40	an	an	DET
ejge-4303	1	41	ardl	ardl	NOUN
ejge-4303	1	42	model	model	NOUN
ejge-4303	1	43	pablo	pablo	PROPN
ejge-4303	1	44	castellanos	castellanos	PROPN
ejge-4303	1	45	-	-	PUNCT
ejge-4303	1	46	garcía	garcía	ADJ
ejge-4303	1	47	,	,	PUNCT
ejge-4303	1	48	universidade	universidade	PROPN
ejge-4303	1	49	da	da	PROPN
ejge-4303	1	50	coruña	coruña	PROPN
ejge-4303	1	51	,	,	PUNCT
ejge-4303	1	52	spain	spain	PROPN
ejge-4303	1	53	indalecio	indalecio	PROPN
ejge-4303	1	54	pérez	pérez	NOUN
ejge-4303	1	55	-	-	PUNCT
ejge-4303	1	56	díaz	díaz	NOUN
ejge-4303	1	57	-	-	PUNCT
ejge-4303	1	58	del	del	NOUN
ejge-4303	1	59	-	-	PUNCT
ejge-4303	1	60	río	río	NOUN
ejge-4303	1	61	,	,	PUNCT
ejge-4303	1	62	universidade	universidade	PROPN
ejge-4303	1	63	da	da	PROPN
ejge-4303	1	64	coruña	coruña	PROPN
ejge-4303	1	65	,	,	PUNCT
ejge-4303	1	66	spain	spain	PROPN
ejge-4303	1	67	jose	jose	PROPN
ejge-4303	1	68	manuel	manuel	PROPN
ejge-4303	1	69	sánchez	sánchez	PROPN
ejge-4303	1	70	-	-	PUNCT
ejge-4303	1	71	santos	santos	PROPN
ejge-4303	1	72	,	,	PUNCT
ejge-4303	1	73	universidade	universidade	PROPN
ejge-4303	1	74	da	da	PROPN
ejge-4303	1	75	coruña	coruña	PROPN
ejge-4303	1	76	,	,	PUNCT
ejge-4303	1	77	spain	spain	PROPN
ejge-4303	1	78	abstract	abstract	ADJ
ejge-4303	1	79	the	the	DET
ejge-4303	1	80	aim	aim	NOUN
ejge-4303	1	81	of	of	ADP
ejge-4303	1	82	this	this	DET
ejge-4303	1	83	paper	paper	NOUN
ejge-4303	1	84	is	be	AUX
ejge-4303	1	85	to	to	PART
ejge-4303	1	86	verify	verify	VERB
ejge-4303	1	87	the	the	DET
ejge-4303	1	88	existence	existence	NOUN
ejge-4303	1	89	and	and	CCONJ
ejge-4303	1	90	to	to	PART
ejge-4303	1	91	determine	determine	VERB
ejge-4303	1	92	the	the	DET
ejge-4303	1	93	nature	nature	NOUN
ejge-4303	1	94	of	of	ADP
ejge-4303	1	95	longterm	longterm	ADJ
ejge-4303	1	96	relationships	relationship	NOUN
ejge-4303	1	97	between	between	ADP
ejge-4303	1	98	economic	economic	ADJ
ejge-4303	1	99	agents	agent	NOUN
ejge-4303	1	100	’	'	PUNCT
ejge-4303	1	101	confidence	confidence	NOUN
ejge-4303	1	102	,	,	PUNCT
ejge-4303	1	103	measured	measure	VERB
ejge-4303	1	104	by	by	ADP
ejge-4303	1	105	the	the	DET
ejge-4303	1	106	economic	economic	ADJ
ejge-4303	1	107	sentiment	sentiment	NOUN
ejge-4303	1	108	index	index	NOUN
ejge-4303	1	109	(	(	PUNCT
ejge-4303	1	110	esi	esi	PROPN
ejge-4303	1	111	)	)	PUNCT
ejge-4303	1	112	,	,	PUNCT
ejge-4303	1	113	with	with	ADP
ejge-4303	1	114	some	some	PRON
ejge-4303	1	115	of	of	ADP
ejge-4303	1	116	the	the	DET
ejge-4303	1	117	"	"	PUNCT
ejge-4303	1	118	fundamentals	fundamental	NOUN
ejge-4303	1	119	"	"	PUNCT
ejge-4303	1	120	of	of	ADP
ejge-4303	1	121	the	the	DET
ejge-4303	1	122	spanish	spanish	ADJ
ejge-4303	1	123	economy	economy	NOUN
ejge-4303	1	124	.	.	PUNCT
ejge-4303	2	1	in	in	ADP
ejge-4303	2	2	particular	particular	ADJ
ejge-4303	2	3	,	,	PUNCT
ejge-4303	2	4	by	by	ADP
ejge-4303	2	5	modeling	model	VERB
ejge-4303	2	6	this	this	DET
ejge-4303	2	7	type	type	NOUN
ejge-4303	2	8	of	of	ADP
ejge-4303	2	9	relations	relation	NOUN
ejge-4303	2	10	,	,	PUNCT
ejge-4303	2	11	we	we	PRON
ejge-4303	2	12	try	try	VERB
ejge-4303	2	13	to	to	PART
ejge-4303	2	14	determine	determine	VERB
ejge-4303	2	15	whether	whether	SCONJ
ejge-4303	2	16	confidence	confidence	NOUN
ejge-4303	2	17	is	be	AUX
ejge-4303	2	18	a	a	DET
ejge-4303	2	19	dependent	dependent	ADJ
ejge-4303	2	20	(	(	PUNCT
ejge-4303	2	21	explained	explain	VERB
ejge-4303	2	22	)	)	PUNCT
ejge-4303	2	23	or	or	CCONJ
ejge-4303	2	24	independent	independent	ADJ
ejge-4303	2	25	(	(	PUNCT
ejge-4303	2	26	explanatory	explanatory	ADJ
ejge-4303	2	27	)	)	PUNCT
ejge-4303	2	28	variable	variable	NOUN
ejge-4303	2	29	.	.	PUNCT
ejge-4303	3	1	along	along	ADP
ejge-4303	3	2	with	with	ADP
ejge-4303	3	3	confidence	confidence	NOUN
ejge-4303	3	4	,	,	PUNCT
ejge-4303	3	5	in	in	ADP
ejge-4303	3	6	our	our	PRON
ejge-4303	3	7	model	model	NOUN
ejge-4303	3	8	we	we	PRON
ejge-4303	3	9	incorporate	incorporate	VERB
ejge-4303	3	10	variables	variable	NOUN
ejge-4303	3	11	such	such	ADJ
ejge-4303	3	12	as	as	ADP
ejge-4303	3	13	risk	risk	NOUN
ejge-4303	3	14	premium	premium	NOUN
ejge-4303	3	15	of	of	ADP
ejge-4303	3	16	sovereign	sovereign	ADJ
ejge-4303	3	17	debt	debt	NOUN
ejge-4303	3	18	,	,	PUNCT
ejge-4303	3	19	financial	financial	ADJ
ejge-4303	3	20	market	market	NOUN
ejge-4303	3	21	volatility	volatility	NOUN
ejge-4303	3	22	,	,	PUNCT
ejge-4303	3	23	unemployment	unemployment	NOUN
ejge-4303	3	24	,	,	PUNCT
ejge-4303	3	25	inflation	inflation	NOUN
ejge-4303	3	26	,	,	PUNCT
ejge-4303	3	27	public	public	ADJ
ejge-4303	3	28	and	and	CCONJ
ejge-4303	3	29	private	private	ADJ
ejge-4303	3	30	debt	debt	NOUN
ejge-4303	3	31	and	and	CCONJ
ejge-4303	3	32	the	the	DET
ejge-4303	3	33	net	net	ADJ
ejge-4303	3	34	lending	lending	NOUN
ejge-4303	3	35	/	/	SYM
ejge-4303	3	36	net	net	NOUN
ejge-4303	3	37	borrowing	borrowing	NOUN
ejge-4303	3	38	of	of	ADP
ejge-4303	3	39	the	the	DET
ejge-4303	3	40	economy	economy	NOUN
ejge-4303	3	41	.	.	PUNCT
ejge-4303	4	1	for	for	ADP
ejge-4303	4	2	the	the	DET
ejge-4303	4	3	purpose	purpose	NOUN
ejge-4303	4	4	of	of	ADP
ejge-4303	4	5	obtaining	obtain	VERB
ejge-4303	4	6	some	some	DET
ejge-4303	4	7	empirical	empirical	ADJ
ejge-4303	4	8	evidence	evidence	NOUN
ejge-4303	4	9	on	on	ADP
ejge-4303	4	10	the	the	DET
ejge-4303	4	11	exogenous	exogenous	ADJ
ejge-4303	4	12	or	or	CCONJ
ejge-4303	4	13	endogenous	endogenous	ADJ
ejge-4303	4	14	character	character	NOUN
ejge-4303	4	15	of	of	ADP
ejge-4303	4	16	the	the	DET
ejge-4303	4	17	above	above	NOUN
ejge-4303	4	18	mentioned	mention	VERB
ejge-4303	4	19	variables	variable	NOUN
ejge-4303	4	20	an	an	DET
ejge-4303	4	21	ardl	ardl	NOUN
ejge-4303	4	22	(	(	PUNCT
ejge-4303	4	23	autoregressive	autoregressive	ADJ
ejge-4303	4	24	-	-	PUNCT
ejge-4303	4	25	distributed	distribute	VERB
ejge-4303	4	26	lag	lag	NOUN
ejge-4303	4	27	)	)	PUNCT
ejge-4303	4	28	model	model	NOUN
ejge-4303	4	29	is	be	AUX
ejge-4303	4	30	formulated	formulate	VERB
ejge-4303	4	31	.	.	PUNCT
ejge-4303	5	1	the	the	DET
ejge-4303	5	2	model	model	NOUN
ejge-4303	5	3	is	be	AUX
ejge-4303	5	4	estimated	estimate	VERB
ejge-4303	5	5	with	with	ADP
ejge-4303	5	6	quarterly	quarterly	ADJ
ejge-4303	5	7	data	datum	NOUN
ejge-4303	5	8	of	of	ADP
ejge-4303	5	9	the	the	DET
ejge-4303	5	10	spanish	spanish	ADJ
ejge-4303	5	11	economy	economy	NOUN
ejge-4303	5	12	for	for	ADP
ejge-4303	5	13	the	the	DET
ejge-4303	5	14	period	period	NOUN
ejge-4303	5	15	1990	1990	NUM
ejge-4303	5	16	-	-	SYM
ejge-4303	5	17	2012	2012	NUM
ejge-4303	5	18	.	.	PUNCT
ejge-4303	6	1	our	our	PRON
ejge-4303	6	2	findings	finding	NOUN
ejge-4303	6	3	suggest	suggest	VERB
ejge-4303	6	4	that	that	SCONJ
ejge-4303	6	5	:	:	PUNCT
ejge-4303	6	6	(	(	PUNCT
ejge-4303	6	7	a	a	X
ejge-4303	6	8	)	)	PUNCT
ejge-4303	6	9	unemployment	unemployment	NOUN
ejge-4303	6	10	is	be	AUX
ejge-4303	6	11	the	the	DET
ejge-4303	6	12	dependent	dependent	ADJ
ejge-4303	6	13	variable	variable	NOUN
ejge-4303	6	14	,	,	PUNCT
ejge-4303	6	15	(	(	PUNCT
ejge-4303	6	16	b	b	X
ejge-4303	6	17	)	)	PUNCT
ejge-4303	6	18	there	there	PRON
ejge-4303	6	19	is	be	VERB
ejge-4303	6	20	an	an	DET
ejge-4303	6	21	inverse	inverse	NOUN
ejge-4303	6	22	relationship	relationship	NOUN
ejge-4303	6	23	between	between	ADP
ejge-4303	6	24	esi	esi	PROPN
ejge-4303	6	25	in	in	ADP
ejge-4303	6	26	spain	spain	PROPN
ejge-4303	6	27	and	and	CCONJ
ejge-4303	6	28	unemployment	unemployment	NOUN
ejge-4303	6	29	;	;	PUNCT
ejge-4303	6	30	and	and	CCONJ
ejge-4303	6	31	(	(	PUNCT
ejge-4303	6	32	c	c	X
ejge-4303	6	33	)	)	PUNCT
ejge-4303	6	34	the	the	DET
ejge-4303	6	35	granger	granger	PROPN
ejge-4303	6	36	causality	causality	NOUN
ejge-4303	6	37	goes	go	VERB
ejge-4303	6	38	from	from	ADP
ejge-4303	6	39	confidence	confidence	NOUN
ejge-4303	6	40	to	to	ADP
ejge-4303	6	41	unemployment	unemployment	NOUN
ejge-4303	6	42	.	.	PUNCT
ejge-4303	7	1	jel	jel	PROPN
ejge-4303	7	2	classification	classification	PROPN
ejge-4303	7	3	c22	c22	NOUN
ejge-4303	7	4	;	;	PUNCT
ejge-4303	7	5	d84	d84	PROPN
ejge-4303	7	6	;	;	PUNCT
ejge-4303	7	7	e37	e37	NOUN
ejge-4303	7	8	.	.	PUNCT
ejge-4303	8	1	keywords	keyword	VERB
ejge-4303	8	2	confidence	confidence	NOUN
ejge-4303	8	3	;	;	PUNCT
ejge-4303	8	4	economic	economic	ADJ
ejge-4303	8	5	sentiment	sentiment	NOUN
ejge-4303	8	6	index	index	NOUN
ejge-4303	8	7	;	;	PUNCT
ejge-4303	8	8	ardl	ardl	NOUN
ejge-4303	8	9	models	model	NOUN
ejge-4303	8	10	.	.	PUNCT
ejge-4303	9	1	castellanos	castellanos	PROPN
ejge-4303	9	2	et	et	PROPN
ejge-4303	9	3	al	al	PROPN
ejge-4303	9	4	.	.	PUNCT
ejge-4303	10	1	●	●	PUNCT
ejge-4303	10	2	the	the	DET
ejge-4303	10	3	role	role	NOUN
ejge-4303	10	4	of	of	ADP
ejge-4303	10	5	confidence	confidence	NOUN
ejge-4303	10	6	in	in	ADP
ejge-4303	10	7	the	the	DET
ejge-4303	10	8	evolution	evolution	NOUN
ejge-4303	10	9	of	of	ADP
ejge-4303	10	10	the	the	DET
ejge-4303	10	11	spanish	spanish	ADJ
ejge-4303	10	12	economy	economy	NOUN
ejge-4303	10	13	149	149	NUM
ejge-4303	10	14	introduction	introduction	NOUN
ejge-4303	10	15	the	the	DET
ejge-4303	10	16	so	so	ADV
ejge-4303	10	17	-	-	PUNCT
ejge-4303	10	18	called	call	VERB
ejge-4303	10	19	confidence	confidence	NOUN
ejge-4303	10	20	crisis	crisis	NOUN
ejge-4303	10	21	,	,	PUNCT
ejge-4303	10	22	understood	understand	VERB
ejge-4303	10	23	as	as	ADP
ejge-4303	10	24	a	a	DET
ejge-4303	10	25	sharp	sharp	ADJ
ejge-4303	10	26	deterioration	deterioration	NOUN
ejge-4303	10	27	in	in	ADP
ejge-4303	10	28	expectations	expectation	NOUN
ejge-4303	10	29	and	and	CCONJ
ejge-4303	10	30	a	a	DET
ejge-4303	10	31	dramatic	dramatic	ADJ
ejge-4303	10	32	increase	increase	NOUN
ejge-4303	10	33	in	in	ADP
ejge-4303	10	34	economic	economic	ADJ
ejge-4303	10	35	uncertainty	uncertainty	NOUN
ejge-4303	10	36	,	,	PUNCT
ejge-4303	10	37	has	have	AUX
ejge-4303	10	38	been	be	AUX
ejge-4303	10	39	usually	usually	ADV
ejge-4303	10	40	considered	consider	VERB
ejge-4303	10	41	as	as	ADP
ejge-4303	10	42	a	a	DET
ejge-4303	10	43	factor	factor	NOUN
ejge-4303	10	44	playing	play	VERB
ejge-4303	10	45	a	a	DET
ejge-4303	10	46	key	key	ADJ
ejge-4303	10	47	role	role	NOUN
ejge-4303	10	48	in	in	ADP
ejge-4303	10	49	the	the	DET
ejge-4303	10	50	last	last	ADJ
ejge-4303	10	51	global	global	ADJ
ejge-4303	10	52	crisis	crisis	NOUN
ejge-4303	10	53	in	in	ADP
ejge-4303	10	54	most	most	ADJ
ejge-4303	10	55	of	of	ADP
ejge-4303	10	56	the	the	DET
ejge-4303	10	57	peripheral	peripheral	ADJ
ejge-4303	10	58	economies	economy	NOUN
ejge-4303	10	59	.	.	PUNCT
ejge-4303	11	1	one	one	NUM
ejge-4303	11	2	of	of	ADP
ejge-4303	11	3	the	the	DET
ejge-4303	11	4	main	main	ADJ
ejge-4303	11	5	reasons	reason	NOUN
ejge-4303	11	6	that	that	PRON
ejge-4303	11	7	explain	explain	VERB
ejge-4303	11	8	that	that	DET
ejge-4303	11	9	role	role	NOUN
ejge-4303	11	10	has	have	VERB
ejge-4303	11	11	to	to	PART
ejge-4303	11	12	do	do	VERB
ejge-4303	11	13	with	with	ADP
ejge-4303	11	14	the	the	DET
ejge-4303	11	15	fact	fact	NOUN
ejge-4303	11	16	that	that	SCONJ
ejge-4303	11	17	confidence	confidence	NOUN
ejge-4303	11	18	is	be	AUX
ejge-4303	11	19	a	a	DET
ejge-4303	11	20	variable	variable	NOUN
ejge-4303	11	21	that	that	PRON
ejge-4303	11	22	contains	contain	VERB
ejge-4303	11	23	qualitative	qualitative	ADJ
ejge-4303	11	24	information	information	NOUN
ejge-4303	11	25	which	which	PRON
ejge-4303	11	26	directly	directly	ADV
ejge-4303	11	27	measures	measure	VERB
ejge-4303	11	28	the	the	DET
ejge-4303	11	29	expectations	expectation	NOUN
ejge-4303	11	30	of	of	ADP
ejge-4303	11	31	economic	economic	ADJ
ejge-4303	11	32	agents	agent	NOUN
ejge-4303	11	33	.	.	PUNCT
ejge-4303	12	1	these	these	DET
ejge-4303	12	2	expectations	expectation	NOUN
ejge-4303	12	3	,	,	PUNCT
ejge-4303	12	4	through	through	ADP
ejge-4303	12	5	their	their	PRON
ejge-4303	12	6	impact	impact	NOUN
ejge-4303	12	7	on	on	ADP
ejge-4303	12	8	decisions	decision	NOUN
ejge-4303	12	9	of	of	ADP
ejge-4303	12	10	consumption	consumption	NOUN
ejge-4303	12	11	,	,	PUNCT
ejge-4303	12	12	saving	saving	NOUN
ejge-4303	12	13	,	,	PUNCT
ejge-4303	12	14	credit	credit	NOUN
ejge-4303	12	15	,	,	PUNCT
ejge-4303	12	16	investment	investment	NOUN
ejge-4303	12	17	,	,	PUNCT
ejge-4303	12	18	etc	etc	X
ejge-4303	12	19	.	.	X
ejge-4303	12	20	,	,	PUNCT
ejge-4303	12	21	can	can	AUX
ejge-4303	12	22	exert	exert	VERB
ejge-4303	12	23	a	a	DET
ejge-4303	12	24	significant	significant	ADJ
ejge-4303	12	25	influence	influence	NOUN
ejge-4303	12	26	both	both	CCONJ
ejge-4303	12	27	in	in	ADP
ejge-4303	12	28	the	the	DET
ejge-4303	12	29	state	state	NOUN
ejge-4303	12	30	of	of	ADP
ejge-4303	12	31	the	the	DET
ejge-4303	12	32	economy	economy	NOUN
ejge-4303	12	33	and	and	CCONJ
ejge-4303	12	34	in	in	ADP
ejge-4303	12	35	financial	financial	ADJ
ejge-4303	12	36	stability	stability	NOUN
ejge-4303	12	37	.	.	PUNCT
ejge-4303	13	1	the	the	DET
ejge-4303	13	2	role	role	NOUN
ejge-4303	13	3	of	of	ADP
ejge-4303	13	4	confidence	confidence	NOUN
ejge-4303	13	5	in	in	ADP
ejge-4303	13	6	promoting	promote	VERB
ejge-4303	13	7	economic	economic	ADJ
ejge-4303	13	8	activity	activity	NOUN
ejge-4303	13	9	has	have	AUX
ejge-4303	13	10	received	receive	VERB
ejge-4303	13	11	considerable	considerable	ADJ
ejge-4303	13	12	academic	academic	ADJ
ejge-4303	13	13	attention	attention	NOUN
ejge-4303	13	14	by	by	ADP
ejge-4303	13	15	social	social	ADJ
ejge-4303	13	16	scientists	scientist	NOUN
ejge-4303	13	17	.	.	PUNCT
ejge-4303	14	1	among	among	ADP
ejge-4303	14	2	early	early	ADJ
ejge-4303	14	3	economic	economic	ADJ
ejge-4303	14	4	researches	research	NOUN
ejge-4303	14	5	addressing	address	VERB
ejge-4303	14	6	the	the	DET
ejge-4303	14	7	role	role	NOUN
ejge-4303	14	8	played	play	VERB
ejge-4303	14	9	by	by	ADP
ejge-4303	14	10	confidence	confidence	NOUN
ejge-4303	14	11	indicators	indicator	NOUN
ejge-4303	14	12	in	in	ADP
ejge-4303	14	13	the	the	DET
ejge-4303	14	14	real	real	ADJ
ejge-4303	14	15	economy	economy	NOUN
ejge-4303	14	16	and	and	CCONJ
ejge-4303	14	17	economic	economic	ADJ
ejge-4303	14	18	fluctuations	fluctuation	NOUN
ejge-4303	14	19	can	can	AUX
ejge-4303	14	20	be	be	AUX
ejge-4303	14	21	mentioned	mention	VERB
ejge-4303	14	22	fuhrer	fuhrer	NOUN
ejge-4303	14	23	(	(	PUNCT
ejge-4303	14	24	1993	1993	NUM
ejge-4303	14	25	)	)	PUNCT
ejge-4303	14	26	,	,	PUNCT
ejge-4303	14	27	matsusaka	matsusaka	NOUN
ejge-4303	14	28	and	and	CCONJ
ejge-4303	14	29	sbordone	sbordone	NOUN
ejge-4303	14	30	(	(	PUNCT
ejge-4303	14	31	1995	1995	NUM
ejge-4303	14	32	)	)	PUNCT
ejge-4303	14	33	,	,	PUNCT
ejge-4303	14	34	golinelli	golinelli	PROPN
ejge-4303	14	35	and	and	CCONJ
ejge-4303	14	36	parigi	parigi	PROPN
ejge-4303	14	37	(	(	PUNCT
ejge-4303	14	38	2004	2004	NUM
ejge-4303	14	39	)	)	PUNCT
ejge-4303	14	40	,	,	PUNCT
ejge-4303	14	41	ludvigson	ludvigson	NOUN
ejge-4303	14	42	(	(	PUNCT
ejge-4303	14	43	2004	2004	NUM
ejge-4303	14	44	)	)	PUNCT
ejge-4303	14	45	and	and	CCONJ
ejge-4303	14	46	taylor	taylor	PROPN
ejge-4303	14	47	and	and	CCONJ
ejge-4303	14	48	mcnabb	mcnabb	PROPN
ejge-4303	14	49	(	(	PUNCT
ejge-4303	14	50	2007	2007	NUM
ejge-4303	14	51	)	)	PUNCT
ejge-4303	14	52	.	.	PUNCT
ejge-4303	15	1	some	some	DET
ejge-4303	15	2	other	other	ADJ
ejge-4303	15	3	authors	author	NOUN
ejge-4303	15	4	also	also	ADV
ejge-4303	15	5	provide	provide	VERB
ejge-4303	15	6	empirical	empirical	ADJ
ejge-4303	15	7	evidence	evidence	NOUN
ejge-4303	15	8	supporting	support	VERB
ejge-4303	15	9	the	the	DET
ejge-4303	15	10	influence	influence	NOUN
ejge-4303	15	11	of	of	ADP
ejge-4303	15	12	sentiment	sentiment	NOUN
ejge-4303	15	13	of	of	ADP
ejge-4303	15	14	investors	investor	NOUN
ejge-4303	15	15	on	on	ADP
ejge-4303	15	16	aggregate	aggregate	ADJ
ejge-4303	15	17	corporate	corporate	ADJ
ejge-4303	15	18	investments	investment	NOUN
ejge-4303	15	19	(	(	PUNCT
ejge-4303	15	20	arif	arif	PROPN
ejge-4303	15	21	and	and	CCONJ
ejge-4303	15	22	lee	lee	PROPN
ejge-4303	15	23	,	,	PUNCT
ejge-4303	15	24	2014	2014	NUM
ejge-4303	15	25	)	)	PUNCT
ejge-4303	15	26	,	,	PUNCT
ejge-4303	15	27	stock	stock	NOUN
ejge-4303	15	28	market	market	NOUN
ejge-4303	15	29	developments	development	NOUN
ejge-4303	15	30	(	(	PUNCT
ejge-4303	15	31	otoo	otoo	ADJ
ejge-4303	15	32	,	,	PUNCT
ejge-4303	15	33	1999	1999	NUM
ejge-4303	15	34	;	;	PUNCT
ejge-4303	15	35	jansen	jansen	PROPN
ejge-4303	15	36	and	and	CCONJ
ejge-4303	15	37	nahuis	nahuis	NOUN
ejge-4303	15	38	,	,	PUNCT
ejge-4303	15	39	2003	2003	NUM
ejge-4303	15	40	;	;	PUNCT
ejge-4303	15	41	lee	lee	PROPN
ejge-4303	15	42	et	et	PROPN
ejge-4303	15	43	al	al	PROPN
ejge-4303	15	44	.	.	PROPN
ejge-4303	15	45	,	,	PUNCT
ejge-4303	15	46	2002	2002	NUM
ejge-4303	15	47	)	)	PUNCT
ejge-4303	15	48	,	,	PUNCT
ejge-4303	15	49	market	market	NOUN
ejge-4303	15	50	price	price	NOUN
ejge-4303	15	51	of	of	ADP
ejge-4303	15	52	risk	risk	NOUN
ejge-4303	15	53	(	(	PUNCT
ejge-4303	15	54	verma	verma	PROPN
ejge-4303	15	55	and	and	CCONJ
ejge-4303	15	56	soydemir	soydemir	NOUN
ejge-4303	15	57	,	,	PUNCT
ejge-4303	15	58	2009	2009	NUM
ejge-4303	15	59	)	)	PUNCT
ejge-4303	15	60	,	,	PUNCT
ejge-4303	15	61	yield	yield	VERB
ejge-4303	15	62	spreads	spread	NOUN
ejge-4303	15	63	(	(	PUNCT
ejge-4303	15	64	ferreira	ferreira	PROPN
ejge-4303	15	65	et	et	PROPN
ejge-4303	15	66	al	al	PROPN
ejge-4303	15	67	.	.	PROPN
ejge-4303	15	68	2008	2008	NUM
ejge-4303	15	69	)	)	PUNCT
ejge-4303	15	70	,	,	PUNCT
ejge-4303	15	71	stock	stock	NOUN
ejge-4303	15	72	market	market	NOUN
ejge-4303	15	73	reaction	reaction	NOUN
ejge-4303	15	74	to	to	ADP
ejge-4303	15	75	monetary	monetary	ADJ
ejge-4303	15	76	policy	policy	NOUN
ejge-4303	15	77	(	(	PUNCT
ejge-4303	15	78	kurov	kurov	PROPN
ejge-4303	15	79	,	,	PUNCT
ejge-4303	15	80	2010	2010	NUM
ejge-4303	15	81	)	)	PUNCT
ejge-4303	15	82	and	and	CCONJ
ejge-4303	15	83	even	even	ADV
ejge-4303	15	84	on	on	ADP
ejge-4303	15	85	the	the	DET
ejge-4303	15	86	probability	probability	NOUN
ejge-4303	15	87	of	of	ADP
ejge-4303	15	88	future	future	ADJ
ejge-4303	15	89	financial	financial	ADJ
ejge-4303	15	90	distress	distress	NOUN
ejge-4303	15	91	(	(	PUNCT
ejge-4303	15	92	mishkin	mishkin	NOUN
ejge-4303	15	93	,	,	PUNCT
ejge-4303	15	94	1978	1978	NUM
ejge-4303	15	95	)	)	PUNCT
ejge-4303	15	96	.	.	PUNCT
ejge-4303	16	1	confidence	confidence	NOUN
ejge-4303	16	2	indices	index	NOUN
ejge-4303	16	3	are	be	AUX
ejge-4303	16	4	statistical	statistical	ADJ
ejge-4303	16	5	tools	tool	NOUN
ejge-4303	16	6	that	that	PRON
ejge-4303	16	7	are	be	AUX
ejge-4303	16	8	obtained	obtain	VERB
ejge-4303	16	9	on	on	ADP
ejge-4303	16	10	a	a	DET
ejge-4303	16	11	regular	regular	ADJ
ejge-4303	16	12	basis	basis	NOUN
ejge-4303	16	13	in	in	ADP
ejge-4303	16	14	order	order	NOUN
ejge-4303	16	15	to	to	PART
ejge-4303	16	16	know	know	VERB
ejge-4303	16	17	,	,	PUNCT
ejge-4303	16	18	through	through	ADP
ejge-4303	16	19	sampling	sampling	NOUN
ejge-4303	16	20	,	,	PUNCT
ejge-4303	16	21	perceptions	perception	NOUN
ejge-4303	16	22	of	of	ADP
ejge-4303	16	23	individuals	individual	NOUN
ejge-4303	16	24	(	(	PUNCT
ejge-4303	16	25	consumers	consumer	NOUN
ejge-4303	16	26	or	or	CCONJ
ejge-4303	16	27	businesses	business	NOUN
ejge-4303	16	28	)	)	PUNCT
ejge-4303	16	29	on	on	ADP
ejge-4303	16	30	the	the	DET
ejge-4303	16	31	state	state	NOUN
ejge-4303	16	32	of	of	ADP
ejge-4303	16	33	the	the	DET
ejge-4303	16	34	economy	economy	NOUN
ejge-4303	16	35	,	,	PUNCT
ejge-4303	16	36	their	their	PRON
ejge-4303	16	37	own	own	ADJ
ejge-4303	16	38	economic	economic	ADJ
ejge-4303	16	39	situation	situation	NOUN
ejge-4303	16	40	and	and	CCONJ
ejge-4303	16	41	their	their	PRON
ejge-4303	16	42	expectations	expectation	NOUN
ejge-4303	16	43	in	in	ADP
ejge-4303	16	44	the	the	DET
ejge-4303	16	45	medium	medium	ADJ
ejge-4303	16	46	and	and	CCONJ
ejge-4303	16	47	long	long	ADJ
ejge-4303	16	48	term.1	term.1	PROPN
ejge-4303	16	49	for	for	ADP
ejge-4303	16	50	this	this	DET
ejge-4303	16	51	reason	reason	NOUN
ejge-4303	16	52	,	,	PUNCT
ejge-4303	16	53	confidence	confidence	NOUN
ejge-4303	16	54	indices	index	NOUN
ejge-4303	16	55	are	be	AUX
ejge-4303	16	56	usually	usually	ADV
ejge-4303	16	57	considered	consider	VERB
ejge-4303	16	58	as	as	ADP
ejge-4303	16	59	leading	lead	VERB
ejge-4303	16	60	indicators	indicator	NOUN
ejge-4303	16	61	that	that	PRON
ejge-4303	16	62	could	could	AUX
ejge-4303	16	63	somehow	somehow	ADV
ejge-4303	16	64	incorporate	incorporate	VERB
ejge-4303	16	65	"	"	PUNCT
ejge-4303	16	66	advanced	advanced	ADJ
ejge-4303	16	67	"	"	PUNCT
ejge-4303	16	68	information	information	NOUN
ejge-4303	16	69	in	in	ADP
ejge-4303	16	70	relation	relation	NOUN
ejge-4303	16	71	with	with	ADP
ejge-4303	16	72	the	the	DET
ejge-4303	16	73	one	one	NOUN
ejge-4303	16	74	facilitated	facilitate	VERB
ejge-4303	16	75	through	through	ADP
ejge-4303	16	76	national	national	ADJ
ejge-4303	16	77	accounts	account	NOUN
ejge-4303	16	78	and/or	and/or	CCONJ
ejge-4303	16	79	macroeconomic	macroeconomic	ADJ
ejge-4303	16	80	data	datum	NOUN
ejge-4303	16	81	.	.	PUNCT
ejge-4303	17	1	in	in	ADP
ejge-4303	17	2	this	this	DET
ejge-4303	17	3	sense	sense	NOUN
ejge-4303	17	4	,	,	PUNCT
ejge-4303	17	5	a	a	DET
ejge-4303	17	6	large	large	ADJ
ejge-4303	17	7	number	number	NOUN
ejge-4303	17	8	of	of	ADP
ejge-4303	17	9	papers	paper	NOUN
ejge-4303	17	10	have	have	AUX
ejge-4303	17	11	investigated	investigate	VERB
ejge-4303	17	12	the	the	DET
ejge-4303	17	13	predictive	predictive	ADJ
ejge-4303	17	14	capacity	capacity	NOUN
ejge-4303	17	15	of	of	ADP
ejge-4303	17	16	survey	survey	NOUN
ejge-4303	17	17	data	datum	NOUN
ejge-4303	17	18	for	for	ADP
ejge-4303	17	19	consumer	consumer	NOUN
ejge-4303	17	20	spending	spending	NOUN
ejge-4303	17	21	or	or	CCONJ
ejge-4303	17	22	output	output	NOUN
ejge-4303	17	23	.	.	PUNCT
ejge-4303	18	1	for	for	ADP
ejge-4303	18	2	instance	instance	NOUN
ejge-4303	18	3	,	,	PUNCT
ejge-4303	18	4	carroll	carroll	PROPN
ejge-4303	18	5	et	et	PROPN
ejge-4303	18	6	al	al	PROPN
ejge-4303	18	7	.	.	PROPN
ejge-4303	18	8	(	(	PUNCT
ejge-4303	18	9	1994	1994	NUM
ejge-4303	18	10	)	)	PUNCT
ejge-4303	18	11	and	and	CCONJ
ejge-4303	18	12	easaw	easaw	VERB
ejge-4303	18	13	et	et	PROPN
ejge-4303	18	14	al	al	PROPN
ejge-4303	18	15	.	.	PROPN
ejge-4303	19	1	(	(	PUNCT
ejge-4303	19	2	2005	2005	NUM
ejge-4303	19	3	)	)	PUNCT
ejge-4303	19	4	investigate	investigate	VERB
ejge-4303	19	5	the	the	DET
ejge-4303	19	6	predictive	predictive	ADJ
ejge-4303	19	7	power	power	NOUN
ejge-4303	19	8	of	of	ADP
ejge-4303	19	9	consumer	consumer	NOUN
ejge-4303	19	10	confidence	confidence	NOUN
ejge-4303	19	11	or	or	CCONJ
ejge-4303	19	12	sentiment	sentiment	NOUN
ejge-4303	19	13	and	and	CCONJ
ejge-4303	19	14	its	its	PRON
ejge-4303	19	15	usefulness	usefulness	NOUN
ejge-4303	19	16	as	as	ADP
ejge-4303	19	17	a	a	DET
ejge-4303	19	18	forecast	forecast	NOUN
ejge-4303	19	19	of	of	ADP
ejge-4303	19	20	the	the	DET
ejge-4303	19	21	growth	growth	NOUN
ejge-4303	19	22	of	of	ADP
ejge-4303	19	23	households	household	NOUN
ejge-4303	19	24	consumption	consumption	NOUN
ejge-4303	19	25	.	.	PUNCT
ejge-4303	20	1	in	in	ADP
ejge-4303	20	2	a	a	DET
ejge-4303	20	3	similar	similar	ADJ
ejge-4303	20	4	line	line	NOUN
ejge-4303	20	5	,	,	PUNCT
ejge-4303	20	6	claveria	claveria	PROPN
ejge-4303	20	7	et	et	PROPN
ejge-4303	20	8	al	al	PROPN
ejge-4303	20	9	.	.	PROPN
ejge-4303	20	10	(	(	PUNCT
ejge-4303	20	11	2007	2007	NUM
ejge-4303	20	12	)	)	PUNCT
ejge-4303	20	13	analyse	analyse	VERB
ejge-4303	20	14	the	the	DET
ejge-4303	20	15	possibility	possibility	NOUN
ejge-4303	20	16	of	of	ADP
ejge-4303	20	17	improving	improve	VERB
ejge-4303	20	18	the	the	DET
ejge-4303	20	19	forecasts	forecast	NOUN
ejge-4303	20	20	for	for	ADP
ejge-4303	20	21	some	some	DET
ejge-4303	20	22	selected	select	VERB
ejge-4303	20	23	macroeconomic	macroeconomic	ADJ
ejge-4303	20	24	variables	variable	NOUN
ejge-4303	20	25	for	for	ADP
ejge-4303	20	26	the	the	DET
ejge-4303	20	27	euro	euro	PROPN
ejge-4303	20	28	area	area	NOUN
ejge-4303	20	29	using	use	VERB
ejge-4303	20	30	the	the	DET
ejge-4303	20	31	information	information	NOUN
ejge-4303	20	32	provided	provide	VERB
ejge-4303	20	33	by	by	ADP
ejge-4303	20	34	business	business	NOUN
ejge-4303	20	35	and	and	CCONJ
ejge-4303	20	36	consumer	consumer	NOUN
ejge-4303	20	37	surveys	survey	NOUN
ejge-4303	20	38	.	.	PUNCT
ejge-4303	21	1	beyond	beyond	ADP
ejge-4303	21	2	the	the	DET
ejge-4303	21	3	explanatory	explanatory	ADJ
ejge-4303	21	4	and	and	CCONJ
ejge-4303	21	5	predictive	predictive	ADJ
ejge-4303	21	6	power	power	NOUN
ejge-4303	21	7	of	of	ADP
ejge-4303	21	8	confidence	confidence	NOUN
ejge-4303	21	9	indicators	indicator	NOUN
ejge-4303	21	10	,	,	PUNCT
ejge-4303	21	11	it	it	PRON
ejge-4303	21	12	is	be	AUX
ejge-4303	21	13	important	important	ADJ
ejge-4303	21	14	to	to	PART
ejge-4303	21	15	take	take	VERB
ejge-4303	21	16	into	into	ADP
ejge-4303	21	17	account	account	NOUN
ejge-4303	21	18	that	that	SCONJ
ejge-4303	21	19	the	the	DET
ejge-4303	21	20	behaviour	behaviour	NOUN
ejge-4303	21	21	of	of	ADP
ejge-4303	21	22	this	this	DET
ejge-4303	21	23	variable	variable	NOUN
ejge-4303	21	24	in	in	ADP
ejge-4303	21	25	turn	turn	NOUN
ejge-4303	21	26	might	might	AUX
ejge-4303	21	27	also	also	ADV
ejge-4303	21	28	be	be	AUX
ejge-4303	21	29	conditioned	condition	VERB
ejge-4303	21	30	by	by	ADP
ejge-4303	21	31	the	the	DET
ejge-4303	21	32	evolution	evolution	NOUN
ejge-4303	21	33	of	of	ADP
ejge-4303	21	34	macroeconomic	macroeconomic	ADJ
ejge-4303	21	35	data	datum	NOUN
ejge-4303	21	36	.	.	PUNCT
ejge-4303	22	1	some	some	DET
ejge-4303	22	2	authors	author	NOUN
ejge-4303	22	3	as	as	ADP
ejge-4303	22	4	vuchelen	vuchelen	ADJ
ejge-4303	22	5	(	(	PUNCT
ejge-4303	22	6	1995	1995	NUM
ejge-4303	22	7	)	)	PUNCT
ejge-4303	22	8	seek	seek	VERB
ejge-4303	22	9	for	for	ADP
ejge-4303	22	10	determinants	determinant	NOUN
ejge-4303	22	11	of	of	ADP
ejge-4303	22	12	economic	economic	ADJ
ejge-4303	22	13	agents	agent	NOUN
ejge-4303	22	14	’	'	PUNCT
ejge-4303	22	15	sentiment	sentiment	NOUN
ejge-4303	22	16	in	in	ADP
ejge-4303	22	17	macroeconomic	macroeconomic	ADJ
ejge-4303	22	18	data	datum	NOUN
ejge-4303	22	19	.	.	PUNCT
ejge-4303	23	1	particularly	particularly	ADV
ejge-4303	23	2	,	,	PUNCT
ejge-4303	23	3	this	this	DET
ejge-4303	23	4	author	author	NOUN
ejge-4303	23	5	focuses	focus	VERB
ejge-4303	23	6	on	on	ADP
ejge-4303	23	7	the	the	DET
ejge-4303	23	8	influence	influence	NOUN
ejge-4303	23	9	of	of	ADP
ejge-4303	23	10	political	political	ADJ
ejge-4303	23	11	events	event	NOUN
ejge-4303	23	12	in	in	ADP
ejge-4303	23	13	consumer	consumer	NOUN
ejge-4303	23	14	confidence	confidence	NOUN
ejge-4303	23	15	.	.	PUNCT
ejge-4303	24	1	ghonghadze	ghonghadze	NOUN
ejge-4303	24	2	and	and	CCONJ
ejge-4303	24	3	lux	lux	PROPN
ejge-4303	24	4	(	(	PUNCT
ejge-4303	24	5	2012	2012	NUM
ejge-4303	24	6	)	)	PUNCT
ejge-4303	24	7	examine	examine	VERB
ejge-4303	24	8	the	the	DET
ejge-4303	24	9	dynamics	dynamic	NOUN
ejge-4303	24	10	of	of	ADP
ejge-4303	24	11	european	european	PROPN
ejge-4303	24	12	union	union	PROPN
ejge-4303	24	13	economic	economic	ADJ
ejge-4303	24	14	sentiment	sentiment	NOUN
ejge-4303	24	15	indicator	indicator	NOUN
ejge-4303	24	16	,	,	PUNCT
ejge-4303	24	17	providing	provide	VERB
ejge-4303	24	18	some	some	DET
ejge-4303	24	19	evidence	evidence	NOUN
ejge-4303	24	20	about	about	ADP
ejge-4303	24	21	the	the	DET
ejge-4303	24	22	appropriate	appropriate	ADJ
ejge-4303	24	23	modelling	modelling	NOUN
ejge-4303	24	24	of	of	ADP
ejge-4303	24	25	expectations	expectation	NOUN
ejge-4303	24	26	formation	formation	NOUN
ejge-4303	24	27	.	.	PUNCT
ejge-4303	25	1	in	in	ADP
ejge-4303	25	2	this	this	DET
ejge-4303	25	3	sense	sense	NOUN
ejge-4303	25	4	,	,	PUNCT
ejge-4303	25	5	as	as	SCONJ
ejge-4303	25	6	katona	katona	PROPN
ejge-4303	25	7	(	(	PUNCT
ejge-4303	25	8	1951	1951	NUM
ejge-4303	25	9	,	,	PUNCT
ejge-4303	25	10	1975	1975	NUM
ejge-4303	25	11	)	)	PUNCT
ejge-4303	25	12	argues	argue	VERB
ejge-4303	25	13	,	,	PUNCT
ejge-4303	25	14	it	it	PRON
ejge-4303	25	15	should	should	AUX
ejge-4303	25	16	be	be	AUX
ejge-4303	25	17	taken	take	VERB
ejge-4303	25	18	into	into	ADP
ejge-4303	25	19	account	account	NOUN
ejge-4303	25	20	that	that	SCONJ
ejge-4303	25	21	the	the	DET
ejge-4303	25	22	consumer	consumer	NOUN
ejge-4303	25	23	sentiment	sentiment	NOUN
ejge-4303	25	24	contains	contain	VERB
ejge-4303	25	25	information	information	NOUN
ejge-4303	25	26	that	that	PRON
ejge-4303	25	27	can	can	AUX
ejge-4303	25	28	not	not	PART
ejge-4303	25	29	be	be	AUX
ejge-4303	25	30	deduced	deduce	VERB
ejge-4303	25	31	from	from	ADP
ejge-4303	25	32	economic	economic	ADJ
ejge-4303	25	33	and	and	CCONJ
ejge-4303	25	34	financial	financial	ADJ
ejge-4303	25	35	variables	variable	NOUN
ejge-4303	25	36	.	.	PUNCT
ejge-4303	26	1	in	in	ADP
ejge-4303	26	2	this	this	DET
ejge-4303	26	3	paper	paper	NOUN
ejge-4303	26	4	our	our	PRON
ejge-4303	26	5	aim	aim	NOUN
ejge-4303	26	6	is	be	AUX
ejge-4303	26	7	to	to	PART
ejge-4303	26	8	shed	shed	VERB
ejge-4303	26	9	some	some	DET
ejge-4303	26	10	light	light	NOUN
ejge-4303	26	11	on	on	ADP
ejge-4303	26	12	the	the	DET
ejge-4303	26	13	nature	nature	NOUN
ejge-4303	26	14	of	of	ADP
ejge-4303	26	15	the	the	DET
ejge-4303	26	16	relationship	relationship	NOUN
ejge-4303	26	17	between	between	ADP
ejge-4303	26	18	confidence	confidence	NOUN
ejge-4303	26	19	and	and	CCONJ
ejge-4303	26	20	some	some	DET
ejge-4303	26	21	"	"	PUNCT
ejge-4303	26	22	fundamentals	fundamental	NOUN
ejge-4303	26	23	"	"	PUNCT
ejge-4303	26	24	of	of	ADP
ejge-4303	26	25	the	the	DET
ejge-4303	26	26	spanish	spanish	ADJ
ejge-4303	26	27	economy	economy	NOUN
ejge-4303	26	28	,	,	PUNCT
ejge-4303	26	29	namely	namely	ADV
ejge-4303	26	30	unemployment	unemployment	NOUN
ejge-4303	26	31	,	,	PUNCT
ejge-4303	26	32	inflation	inflation	NOUN
ejge-4303	26	33	,	,	PUNCT
ejge-4303	26	34	levels	level	NOUN
ejge-4303	26	35	of	of	ADP
ejge-4303	26	36	public	public	ADJ
ejge-4303	26	37	and	and	CCONJ
ejge-4303	26	38	private	private	ADJ
ejge-4303	26	39	debt	debt	NOUN
ejge-4303	26	40	and	and	CCONJ
ejge-4303	26	41	net	net	ADJ
ejge-4303	26	42	lending	lending	NOUN
ejge-4303	26	43	/	/	SYM
ejge-4303	26	44	net	net	NOUN
ejge-4303	26	45	1	1	NUM
ejge-4303	26	46	due	due	ADP
ejge-4303	26	47	to	to	ADP
ejge-4303	26	48	the	the	DET
ejge-4303	26	49	extreme	extreme	ADJ
ejge-4303	26	50	complexity	complexity	NOUN
ejge-4303	26	51	of	of	ADP
ejge-4303	26	52	measuring	measure	VERB
ejge-4303	26	53	such	such	DET
ejge-4303	26	54	a	a	DET
ejge-4303	26	55	subjective	subjective	ADJ
ejge-4303	26	56	dimension	dimension	NOUN
ejge-4303	26	57	as	as	SCONJ
ejge-4303	26	58	confidence	confidence	NOUN
ejge-4303	26	59	is	be	AUX
ejge-4303	26	60	,	,	PUNCT
ejge-4303	26	61	any	any	DET
ejge-4303	26	62	confidence	confidence	NOUN
ejge-4303	26	63	index	index	NOUN
ejge-4303	26	64	has	have	VERB
ejge-4303	26	65	a	a	DET
ejge-4303	26	66	series	series	NOUN
ejge-4303	26	67	of	of	ADP
ejge-4303	26	68	limitations	limitation	NOUN
ejge-4303	26	69	,	,	PUNCT
ejge-4303	26	70	so	so	CCONJ
ejge-4303	26	71	there	there	PRON
ejge-4303	26	72	is	be	VERB
ejge-4303	26	73	a	a	DET
ejge-4303	26	74	wide	wide	ADJ
ejge-4303	26	75	controversy	controversy	NOUN
ejge-4303	26	76	on	on	ADP
ejge-4303	26	77	its	its	PRON
ejge-4303	26	78	use	use	NOUN
ejge-4303	26	79	.	.	PUNCT
ejge-4303	27	1	in	in	ADP
ejge-4303	27	2	this	this	DET
ejge-4303	27	3	sense	sense	NOUN
ejge-4303	27	4	,	,	PUNCT
ejge-4303	27	5	see	see	VERB
ejge-4303	27	6	for	for	ADP
ejge-4303	27	7	instance	instance	NOUN
ejge-4303	27	8	dominitz	dominitz	NOUN
ejge-4303	27	9	and	and	CCONJ
ejge-4303	27	10	manski	manski	PROPN
ejge-4303	27	11	(	(	PUNCT
ejge-4303	27	12	2004	2004	NUM
ejge-4303	27	13	)	)	PUNCT
ejge-4303	27	14	.	.	PUNCT
ejge-4303	28	1	european	european	PROPN
ejge-4303	28	2	journal	journal	PROPN
ejge-4303	28	3	of	of	ADP
ejge-4303	28	4	government	government	NOUN
ejge-4303	28	5	and	and	CCONJ
ejge-4303	28	6	economics	economic	NOUN
ejge-4303	28	7	3(2	3(2	NUM
ejge-4303	28	8	)	)	PUNCT
ejge-4303	28	9	150	150	NUM
ejge-4303	28	10	borrowing	borrowing	NOUN
ejge-4303	28	11	capacity	capacity	NOUN
ejge-4303	28	12	of	of	ADP
ejge-4303	28	13	the	the	DET
ejge-4303	28	14	economy	economy	NOUN
ejge-4303	28	15	.	.	PUNCT
ejge-4303	29	1	in	in	ADP
ejge-4303	29	2	particular	particular	ADJ
ejge-4303	29	3	,	,	PUNCT
ejge-4303	29	4	modeling	model	VERB
ejge-4303	29	5	this	this	DET
ejge-4303	29	6	type	type	NOUN
ejge-4303	29	7	of	of	ADP
ejge-4303	29	8	relations	relation	NOUN
ejge-4303	29	9	,	,	PUNCT
ejge-4303	29	10	we	we	PRON
ejge-4303	29	11	try	try	VERB
ejge-4303	29	12	to	to	PART
ejge-4303	29	13	determine	determine	VERB
ejge-4303	29	14	whether	whether	SCONJ
ejge-4303	29	15	confidence	confidence	NOUN
ejge-4303	29	16	is	be	AUX
ejge-4303	29	17	a	a	DET
ejge-4303	29	18	dependent	dependent	ADJ
ejge-4303	29	19	(	(	PUNCT
ejge-4303	29	20	explained	explain	VERB
ejge-4303	29	21	)	)	PUNCT
ejge-4303	29	22	or	or	CCONJ
ejge-4303	29	23	independent	independent	ADJ
ejge-4303	29	24	(	(	PUNCT
ejge-4303	29	25	explanatory	explanatory	ADJ
ejge-4303	29	26	)	)	PUNCT
ejge-4303	29	27	variable	variable	NOUN
ejge-4303	29	28	.	.	PUNCT
ejge-4303	30	1	this	this	PRON
ejge-4303	30	2	is	be	AUX
ejge-4303	30	3	a	a	DET
ejge-4303	30	4	key	key	ADJ
ejge-4303	30	5	issue	issue	NOUN
ejge-4303	30	6	,	,	PUNCT
ejge-4303	30	7	mainly	mainly	ADV
ejge-4303	30	8	because	because	SCONJ
ejge-4303	30	9	if	if	SCONJ
ejge-4303	30	10	confidence	confidence	NOUN
ejge-4303	30	11	is	be	AUX
ejge-4303	30	12	an	an	DET
ejge-4303	30	13	independent	independent	ADJ
ejge-4303	30	14	variable	variable	NOUN
ejge-4303	30	15	,	,	PUNCT
ejge-4303	30	16	the	the	DET
ejge-4303	30	17	policy	policy	NOUN
ejge-4303	30	18	maker	maker	NOUN
ejge-4303	30	19	should	should	AUX
ejge-4303	30	20	focus	focus	VERB
ejge-4303	30	21	on	on	ADP
ejge-4303	30	22	the	the	DET
ejge-4303	30	23	effects	effect	NOUN
ejge-4303	30	24	of	of	ADP
ejge-4303	30	25	that	that	DET
ejge-4303	30	26	variable	variable	NOUN
ejge-4303	30	27	on	on	ADP
ejge-4303	30	28	the	the	DET
ejge-4303	30	29	macroeconomic	macroeconomic	ADJ
ejge-4303	30	30	performance	performance	NOUN
ejge-4303	30	31	.	.	PUNCT
ejge-4303	31	1	once	once	ADV
ejge-4303	31	2	identified	identify	VERB
ejge-4303	31	3	those	those	DET
ejge-4303	31	4	effects	effect	NOUN
ejge-4303	31	5	,	,	PUNCT
ejge-4303	31	6	the	the	DET
ejge-4303	31	7	efficiency	efficiency	NOUN
ejge-4303	31	8	of	of	ADP
ejge-4303	31	9	economic	economic	ADJ
ejge-4303	31	10	policies	policy	NOUN
ejge-4303	31	11	could	could	AUX
ejge-4303	31	12	be	be	AUX
ejge-4303	31	13	improved	improve	VERB
ejge-4303	31	14	considering	consider	VERB
ejge-4303	31	15	their	their	PRON
ejge-4303	31	16	influence	influence	NOUN
ejge-4303	31	17	on	on	ADP
ejge-4303	31	18	the	the	DET
ejge-4303	31	19	confidence	confidence	NOUN
ejge-4303	31	20	indices	index	NOUN
ejge-4303	31	21	.	.	PUNCT
ejge-4303	32	1	we	we	PRON
ejge-4303	32	2	use	use	VERB
ejge-4303	32	3	as	as	ADP
ejge-4303	32	4	a	a	DET
ejge-4303	32	5	"	"	PUNCT
ejge-4303	32	6	proxy	proxy	NOUN
ejge-4303	32	7	"	"	PUNCT
ejge-4303	32	8	of	of	ADP
ejge-4303	32	9	the	the	DET
ejge-4303	32	10	confidence	confidence	NOUN
ejge-4303	32	11	the	the	DET
ejge-4303	32	12	economic	economic	ADJ
ejge-4303	32	13	sentiment	sentiment	NOUN
ejge-4303	32	14	indicator	indicator	NOUN
ejge-4303	32	15	(	(	PUNCT
ejge-4303	32	16	hereinafter	hereinafter	NOUN
ejge-4303	32	17	,	,	PUNCT
ejge-4303	32	18	esi	esi	NOUN
ejge-4303	32	19	)	)	PUNCT
ejge-4303	32	20	elaborated	elaborate	VERB
ejge-4303	32	21	by	by	ADP
ejge-4303	32	22	the	the	DET
ejge-4303	32	23	european	european	PROPN
ejge-4303	32	24	commission	commission	PROPN
ejge-4303	32	25	for	for	ADP
ejge-4303	32	26	the	the	DET
ejge-4303	32	27	region	region	NOUN
ejge-4303	32	28	as	as	ADP
ejge-4303	32	29	a	a	DET
ejge-4303	32	30	whole	whole	NOUN
ejge-4303	32	31	,	,	PUNCT
ejge-4303	32	32	for	for	ADP
ejge-4303	32	33	its	its	PRON
ejge-4303	32	34	constituent	constituent	NOUN
ejge-4303	32	35	economies	economy	NOUN
ejge-4303	32	36	,	,	PUNCT
ejge-4303	32	37	and	and	CCONJ
ejge-4303	32	38	by	by	ADP
ejge-4303	32	39	type	type	NOUN
ejge-4303	32	40	of	of	ADP
ejge-4303	32	41	economic	economic	ADJ
ejge-4303	32	42	activity	activity	NOUN
ejge-4303	32	43	.	.	PUNCT
ejge-4303	33	1	this	this	PRON
ejge-4303	33	2	is	be	AUX
ejge-4303	33	3	a	a	DET
ejge-4303	33	4	composite	composite	ADJ
ejge-4303	33	5	indicator	indicator	NOUN
ejge-4303	33	6	that	that	PRON
ejge-4303	33	7	reflects	reflect	VERB
ejge-4303	33	8	and	and	CCONJ
ejge-4303	33	9	represents	represent	VERB
ejge-4303	33	10	judgments	judgment	NOUN
ejge-4303	33	11	and	and	CCONJ
ejge-4303	33	12	attitudes	attitude	NOUN
ejge-4303	33	13	of	of	ADP
ejge-4303	33	14	producers	producer	NOUN
ejge-4303	33	15	and	and	CCONJ
ejge-4303	33	16	consumers	consumer	NOUN
ejge-4303	33	17	.	.	PUNCT
ejge-4303	34	1	this	this	DET
ejge-4303	34	2	indicator	indicator	NOUN
ejge-4303	34	3	incorporates	incorporate	VERB
ejge-4303	34	4	information	information	NOUN
ejge-4303	34	5	from	from	ADP
ejge-4303	34	6	both	both	CCONJ
ejge-4303	34	7	the	the	DET
ejge-4303	34	8	confidence	confidence	NOUN
ejge-4303	34	9	and	and	CCONJ
ejge-4303	34	10	perception	perception	NOUN
ejge-4303	34	11	that	that	SCONJ
ejge-4303	34	12	the	the	DET
ejge-4303	34	13	different	different	ADJ
ejge-4303	34	14	sectors	sector	NOUN
ejge-4303	34	15	of	of	ADP
ejge-4303	34	16	the	the	DET
ejge-4303	34	17	economy	economy	NOUN
ejge-4303	34	18	have	have	AUX
ejge-4303	34	19	about	about	ADP
ejge-4303	34	20	the	the	DET
ejge-4303	34	21	current	current	ADJ
ejge-4303	34	22	economic	economic	ADJ
ejge-4303	34	23	situation	situation	NOUN
ejge-4303	34	24	well	well	ADV
ejge-4303	34	25	as	as	ADP
ejge-4303	34	26	its	its	PRON
ejge-4303	34	27	future	future	ADJ
ejge-4303	34	28	expectations	expectation	NOUN
ejge-4303	34	29	.	.	PUNCT
ejge-4303	35	1	particularly	particularly	ADV
ejge-4303	35	2	,	,	PUNCT
ejge-4303	35	3	with	with	ADP
ejge-4303	35	4	the	the	DET
ejge-4303	35	5	purpose	purpose	NOUN
ejge-4303	35	6	of	of	ADP
ejge-4303	35	7	dealing	deal	VERB
ejge-4303	35	8	with	with	ADP
ejge-4303	35	9	the	the	DET
ejge-4303	35	10	role	role	NOUN
ejge-4303	35	11	of	of	ADP
ejge-4303	35	12	confidence	confidence	NOUN
ejge-4303	35	13	in	in	ADP
ejge-4303	35	14	the	the	DET
ejge-4303	35	15	evolution	evolution	NOUN
ejge-4303	35	16	of	of	ADP
ejge-4303	35	17	the	the	DET
ejge-4303	35	18	spanish	spanish	ADJ
ejge-4303	35	19	economy	economy	NOUN
ejge-4303	35	20	,	,	PUNCT
ejge-4303	35	21	we	we	PRON
ejge-4303	35	22	develop	develop	VERB
ejge-4303	35	23	an	an	DET
ejge-4303	35	24	empirical	empirical	ADJ
ejge-4303	35	25	analysis	analysis	NOUN
ejge-4303	35	26	in	in	ADP
ejge-4303	35	27	three	three	NUM
ejge-4303	35	28	steps	step	NOUN
ejge-4303	35	29	.	.	PUNCT
ejge-4303	36	1	first	first	ADV
ejge-4303	36	2	,	,	PUNCT
ejge-4303	36	3	we	we	PRON
ejge-4303	36	4	try	try	VERB
ejge-4303	36	5	to	to	PART
ejge-4303	36	6	verify	verify	VERB
ejge-4303	36	7	whether	whether	SCONJ
ejge-4303	36	8	confidence	confidence	NOUN
ejge-4303	36	9	is	be	AUX
ejge-4303	36	10	explained	explain	VERB
ejge-4303	36	11	by	by	ADP
ejge-4303	36	12	economic	economic	ADJ
ejge-4303	36	13	fundamentals	fundamental	NOUN
ejge-4303	36	14	or	or	CCONJ
ejge-4303	36	15	whether	whether	SCONJ
ejge-4303	36	16	,	,	PUNCT
ejge-4303	36	17	by	by	ADP
ejge-4303	36	18	contrast	contrast	NOUN
ejge-4303	36	19	,	,	PUNCT
ejge-4303	36	20	it	it	PRON
ejge-4303	36	21	should	should	AUX
ejge-4303	36	22	be	be	AUX
ejge-4303	36	23	considered	consider	VERB
ejge-4303	36	24	as	as	ADP
ejge-4303	36	25	an	an	DET
ejge-4303	36	26	exogenous	exogenous	ADJ
ejge-4303	36	27	variable	variable	NOUN
ejge-4303	36	28	.	.	PUNCT
ejge-4303	37	1	secondly	secondly	ADV
ejge-4303	37	2	,	,	PUNCT
ejge-4303	37	3	once	once	ADV
ejge-4303	37	4	identified	identify	VERB
ejge-4303	37	5	the	the	DET
ejge-4303	37	6	existence	existence	NOUN
ejge-4303	37	7	of	of	ADP
ejge-4303	37	8	a	a	DET
ejge-4303	37	9	long	long	ADJ
ejge-4303	37	10	-	-	PUNCT
ejge-4303	37	11	term	term	NOUN
ejge-4303	37	12	relationship	relationship	NOUN
ejge-4303	37	13	between	between	ADP
ejge-4303	37	14	economic	economic	ADJ
ejge-4303	37	15	fundamentals	fundamental	NOUN
ejge-4303	37	16	and	and	CCONJ
ejge-4303	37	17	confidence	confidence	NOUN
ejge-4303	37	18	through	through	ADP
ejge-4303	37	19	a	a	DET
ejge-4303	37	20	cointegration	cointegration	NOUN
ejge-4303	37	21	analysis	analysis	NOUN
ejge-4303	37	22	,	,	PUNCT
ejge-4303	37	23	it	it	PRON
ejge-4303	37	24	is	be	AUX
ejge-4303	37	25	discussed	discuss	VERB
ejge-4303	37	26	how	how	SCONJ
ejge-4303	37	27	the	the	DET
ejge-4303	37	28	dependent	dependent	ADJ
ejge-4303	37	29	variables	variable	NOUN
ejge-4303	37	30	react	react	VERB
ejge-4303	37	31	to	to	ADP
ejge-4303	37	32	changes	change	NOUN
ejge-4303	37	33	in	in	ADP
ejge-4303	37	34	the	the	DET
ejge-4303	37	35	regressors	regressor	NOUN
ejge-4303	37	36	,	,	PUNCT
ejge-4303	37	37	both	both	CCONJ
ejge-4303	37	38	in	in	ADP
ejge-4303	37	39	the	the	DET
ejge-4303	37	40	short	short	ADJ
ejge-4303	37	41	and	and	CCONJ
ejge-4303	37	42	long	long	ADJ
ejge-4303	37	43	term	term	NOUN
ejge-4303	37	44	.	.	PUNCT
ejge-4303	38	1	this	this	DET
ejge-4303	38	2	discussion	discussion	NOUN
ejge-4303	38	3	is	be	AUX
ejge-4303	38	4	based	base	VERB
ejge-4303	38	5	on	on	ADP
ejge-4303	38	6	the	the	DET
ejge-4303	38	7	empirical	empirical	ADJ
ejge-4303	38	8	evidence	evidence	NOUN
ejge-4303	38	9	derived	derive	VERB
ejge-4303	38	10	from	from	ADP
ejge-4303	38	11	an	an	DET
ejge-4303	38	12	ardl	ardl	NOUN
ejge-4303	38	13	(	(	PUNCT
ejge-4303	38	14	autoregressive	autoregressive	ADJ
ejge-4303	38	15	-	-	PUNCT
ejge-4303	38	16	distributed	distribute	VERB
ejge-4303	38	17	lag	lag	NOUN
ejge-4303	38	18	)	)	PUNCT
ejge-4303	38	19	model	model	NOUN
ejge-4303	38	20	that	that	PRON
ejge-4303	38	21	is	be	AUX
ejge-4303	38	22	estimated	estimate	VERB
ejge-4303	38	23	with	with	ADP
ejge-4303	38	24	quarterly	quarterly	ADJ
ejge-4303	38	25	data	datum	NOUN
ejge-4303	38	26	of	of	ADP
ejge-4303	38	27	the	the	DET
ejge-4303	38	28	spanish	spanish	ADJ
ejge-4303	38	29	economy	economy	NOUN
ejge-4303	38	30	for	for	ADP
ejge-4303	38	31	the	the	DET
ejge-4303	38	32	period	period	NOUN
ejge-4303	38	33	1990	1990	NUM
ejge-4303	38	34	-	-	SYM
ejge-4303	38	35	2012	2012	NUM
ejge-4303	38	36	.	.	PUNCT
ejge-4303	39	1	finally	finally	ADV
ejge-4303	39	2	,	,	PUNCT
ejge-4303	39	3	we	we	PRON
ejge-4303	39	4	establish	establish	VERB
ejge-4303	39	5	the	the	DET
ejge-4303	39	6	direction	direction	NOUN
ejge-4303	39	7	of	of	ADP
ejge-4303	39	8	the	the	DET
ejge-4303	39	9	causality	causality	NOUN
ejge-4303	39	10	between	between	ADP
ejge-4303	39	11	variables	variable	NOUN
ejge-4303	39	12	through	through	ADP
ejge-4303	39	13	granger	granger	PROPN
ejge-4303	39	14	causality	causality	NOUN
ejge-4303	39	15	tests	test	NOUN
ejge-4303	39	16	.	.	PUNCT
ejge-4303	40	1	the	the	DET
ejge-4303	40	2	rest	rest	NOUN
ejge-4303	40	3	of	of	ADP
ejge-4303	40	4	the	the	DET
ejge-4303	40	5	paper	paper	NOUN
ejge-4303	40	6	is	be	AUX
ejge-4303	40	7	organised	organise	VERB
ejge-4303	40	8	as	as	SCONJ
ejge-4303	40	9	follows	follow	VERB
ejge-4303	40	10	.	.	PUNCT
ejge-4303	41	1	the	the	DET
ejge-4303	41	2	second	second	ADJ
ejge-4303	41	3	section	section	NOUN
ejge-4303	41	4	describes	describe	VERB
ejge-4303	41	5	in	in	ADP
ejge-4303	41	6	detail	detail	NOUN
ejge-4303	41	7	the	the	DET
ejge-4303	41	8	variables	variable	NOUN
ejge-4303	41	9	and	and	CCONJ
ejge-4303	41	10	the	the	DET
ejge-4303	41	11	data	datum	NOUN
ejge-4303	41	12	set	set	VERB
ejge-4303	41	13	.	.	PUNCT
ejge-4303	42	1	the	the	DET
ejge-4303	42	2	empirical	empirical	ADJ
ejge-4303	42	3	methodology	methodology	NOUN
ejge-4303	42	4	and	and	CCONJ
ejge-4303	42	5	the	the	DET
ejge-4303	42	6	main	main	ADJ
ejge-4303	42	7	results	result	NOUN
ejge-4303	42	8	are	be	AUX
ejge-4303	42	9	discussed	discuss	VERB
ejge-4303	42	10	in	in	ADP
ejge-4303	42	11	the	the	DET
ejge-4303	42	12	third	third	ADJ
ejge-4303	42	13	section	section	NOUN
ejge-4303	42	14	.	.	PUNCT
ejge-4303	43	1	finally	finally	ADV
ejge-4303	43	2	,	,	PUNCT
ejge-4303	43	3	the	the	DET
ejge-4303	43	4	fourth	fourth	ADJ
ejge-4303	43	5	section	section	NOUN
ejge-4303	43	6	summarises	summarise	VERB
ejge-4303	43	7	the	the	DET
ejge-4303	43	8	conclusions	conclusion	NOUN
ejge-4303	43	9	.	.	PUNCT
ejge-4303	44	1	variables	variable	NOUN
ejge-4303	44	2	and	and	CCONJ
ejge-4303	44	3	data	datum	NOUN
ejge-4303	44	4	in	in	ADP
ejge-4303	44	5	order	order	NOUN
ejge-4303	44	6	to	to	PART
ejge-4303	44	7	carry	carry	VERB
ejge-4303	44	8	out	out	ADP
ejge-4303	44	9	our	our	PRON
ejge-4303	44	10	empirical	empirical	ADJ
ejge-4303	44	11	analysis	analysis	NOUN
ejge-4303	44	12	we	we	PRON
ejge-4303	44	13	consider	consider	VERB
ejge-4303	44	14	two	two	NUM
ejge-4303	44	15	subsets	subset	NOUN
ejge-4303	44	16	of	of	ADP
ejge-4303	44	17	variables	variable	NOUN
ejge-4303	44	18	.	.	PUNCT
ejge-4303	45	1	on	on	ADP
ejge-4303	45	2	the	the	DET
ejge-4303	45	3	one	one	NUM
ejge-4303	45	4	hand	hand	NOUN
ejge-4303	45	5	,	,	PUNCT
ejge-4303	45	6	we	we	PRON
ejge-4303	45	7	include	include	VERB
ejge-4303	45	8	qualitative	qualitative	ADJ
ejge-4303	45	9	variables	variable	NOUN
ejge-4303	45	10	proxying	proxye	VERB
ejge-4303	45	11	the	the	DET
ejge-4303	45	12	economic	economic	ADJ
ejge-4303	45	13	agents	agent	NOUN
ejge-4303	45	14	’	'	PUNCT
ejge-4303	45	15	confidence	confidence	NOUN
ejge-4303	45	16	(	(	PUNCT
ejge-4303	45	17	economic	economic	ADJ
ejge-4303	45	18	sentiment	sentiment	NOUN
ejge-4303	45	19	index	index	NOUN
ejge-4303	45	20	)	)	PUNCT
ejge-4303	45	21	,	,	PUNCT
ejge-4303	45	22	the	the	DET
ejge-4303	45	23	perception	perception	NOUN
ejge-4303	45	24	of	of	ADP
ejge-4303	45	25	risk	risk	NOUN
ejge-4303	45	26	(	(	PUNCT
ejge-4303	45	27	risk	risk	NOUN
ejge-4303	45	28	premium	premium	NOUN
ejge-4303	45	29	of	of	ADP
ejge-4303	45	30	sovereign	sovereign	ADJ
ejge-4303	45	31	debt	debt	NOUN
ejge-4303	45	32	)	)	PUNCT
ejge-4303	45	33	and	and	CCONJ
ejge-4303	45	34	the	the	DET
ejge-4303	45	35	levels	level	NOUN
ejge-4303	45	36	of	of	ADP
ejge-4303	45	37	uncertainty	uncertainty	NOUN
ejge-4303	45	38	(	(	PUNCT
ejge-4303	45	39	volatility	volatility	NOUN
ejge-4303	45	40	of	of	ADP
ejge-4303	45	41	financial	financial	ADJ
ejge-4303	45	42	markets	market	NOUN
ejge-4303	45	43	)	)	PUNCT
ejge-4303	45	44	.	.	PUNCT
ejge-4303	46	1	on	on	ADP
ejge-4303	46	2	the	the	DET
ejge-4303	46	3	other	other	ADJ
ejge-4303	46	4	hand	hand	NOUN
ejge-4303	46	5	,	,	PUNCT
ejge-4303	46	6	we	we	PRON
ejge-4303	46	7	consider	consider	VERB
ejge-4303	46	8	some	some	DET
ejge-4303	46	9	macroeconomic	macroeconomic	ADJ
ejge-4303	46	10	variables	variable	NOUN
ejge-4303	46	11	reflecting	reflect	VERB
ejge-4303	46	12	the	the	DET
ejge-4303	46	13	spanish	spanish	ADJ
ejge-4303	46	14	economic	economic	ADJ
ejge-4303	46	15	fundamentals	fundamental	NOUN
ejge-4303	46	16	(	(	PUNCT
ejge-4303	46	17	unemployment	unemployment	NOUN
ejge-4303	46	18	,	,	PUNCT
ejge-4303	46	19	inflation	inflation	NOUN
ejge-4303	46	20	and	and	CCONJ
ejge-4303	46	21	debt	debt	NOUN
ejge-4303	46	22	)	)	PUNCT
ejge-4303	46	23	.	.	PUNCT
ejge-4303	47	1	the	the	DET
ejge-4303	47	2	sample	sample	NOUN
ejge-4303	47	3	on	on	ADP
ejge-4303	47	4	which	which	PRON
ejge-4303	47	5	our	our	PRON
ejge-4303	47	6	empirical	empirical	ADJ
ejge-4303	47	7	analysis	analysis	NOUN
ejge-4303	47	8	is	be	AUX
ejge-4303	47	9	based	base	VERB
ejge-4303	47	10	consists	consist	NOUN
ejge-4303	47	11	of	of	ADP
ejge-4303	47	12	quarterly	quarterly	ADJ
ejge-4303	47	13	data	datum	NOUN
ejge-4303	47	14	for	for	ADP
ejge-4303	47	15	the	the	DET
ejge-4303	47	16	above	above	ADV
ejge-4303	47	17	-	-	PUNCT
ejge-4303	47	18	mentioned	mention	VERB
ejge-4303	47	19	variables	variable	NOUN
ejge-4303	47	20	covering	cover	VERB
ejge-4303	47	21	from	from	ADP
ejge-4303	47	22	the	the	DET
ejge-4303	47	23	fourth	fourth	ADJ
ejge-4303	47	24	quarter	quarter	NOUN
ejge-4303	47	25	of	of	ADP
ejge-4303	47	26	1990	1990	NUM
ejge-4303	47	27	to	to	ADP
ejge-4303	47	28	the	the	DET
ejge-4303	47	29	second	second	ADJ
ejge-4303	47	30	quarter	quarter	NOUN
ejge-4303	47	31	of	of	ADP
ejge-4303	47	32	2012	2012	NUM
ejge-4303	47	33	,	,	PUNCT
ejge-4303	47	34	which	which	PRON
ejge-4303	47	35	represents	represent	VERB
ejge-4303	47	36	a	a	DET
ejge-4303	47	37	sample	sample	NOUN
ejge-4303	47	38	size	size	NOUN
ejge-4303	47	39	of	of	ADP
ejge-4303	47	40	87	87	NUM
ejge-4303	47	41	data	datum	NOUN
ejge-4303	47	42	.	.	PUNCT
ejge-4303	48	1	table	table	NOUN
ejge-4303	48	2	1	1	NUM
ejge-4303	48	3	.	.	PUNCT
ejge-4303	48	4	descriptive	descriptive	ADJ
ejge-4303	48	5	statistics	statistic	NOUN
ejge-4303	48	6	and	and	CCONJ
ejge-4303	48	7	data	datum	NOUN
ejge-4303	48	8	sources	source	NOUN
ejge-4303	48	9	variables	variable	VERB
ejge-4303	48	10	max	max	PROPN
ejge-4303	48	11	.	.	PUNCT
ejge-4303	49	1	min	min	AUX
ejge-4303	49	2	.	.	PROPN
ejge-4303	49	3	mean	mean	PROPN
ejge-4303	49	4	sd	sd	PART
ejge-4303	49	5	url	url	NOUN
ejge-4303	50	1	pri_deb	pri_deb	VERB
ejge-4303	50	2	226.87	226.87	NUM
ejge-4303	50	3	71.32	71.32	NUM
ejge-4303	50	4	135.04	135.04	NUM
ejge-4303	50	5	58.90	58.90	NUM
ejge-4303	50	6	www.bde.es/webbde/es/estadis/infoest/bolest3.html	www.bde.es/webbde/es/estadis/infoest/bolest3.html	PROPN
ejge-4303	50	7	pub_deb	pub_deb	VERB
ejge-4303	50	8	75.95	75.95	NUM
ejge-4303	50	9	35.48	35.48	NUM
ejge-4303	50	10	54.15	54.15	NUM
ejge-4303	50	11	10.14	10.14	NUM
ejge-4303	50	12	www.bde.es/webbde/es/estadis/infoest/htmls/cdp.html	www.bde.es/webbde/es/estadis/infoest/htmls/cdp.html	NOUN
ejge-4303	50	13	esi_sp	esi_sp	X
ejge-4303	51	1	114.70	114.70	NUM
ejge-4303	51	2	73.93	73.93	NUM
ejge-4303	51	3	99.74	99.74	NUM
ejge-4303	51	4	10.12	10.12	NUM
ejge-4303	51	5	ec.europa.eu/economy_finance/db_indicators/surveys/time	ec.europa.eu/economy_finance/db_indicators/surveys/time	NUM
ejge-4303	51	6	_	_	PROPN
ejge-4303	51	7	series	series	PROPN
ejge-4303	51	8	/	/	SYM
ejge-4303	51	9	index_en.htm	index_en.htm	PROPN
ejge-4303	51	10	inf	inf	PROPN
ejge-4303	51	11	6.73	6.73	NUM
ejge-4303	51	12	-1.07	-1.07	NUM
ejge-4303	51	13	3.37	3.37	NUM
ejge-4303	51	14	1.51	1.51	NUM
ejge-4303	51	15	www.bde.es/webbde/es/estadis/infoest/indeco.html	www.bde.es/webbde/es/estadis/infoest/indeco.html	PRON
ejge-4303	51	16	unem	unem	ADJ
ejge-4303	51	17	24.63	24.63	NUM
ejge-4303	51	18	7.95	7.95	NUM
ejge-4303	51	19	16.22	16.22	NUM
ejge-4303	51	20	5.32	5.32	NUM
ejge-4303	51	21	www.bde.es/webbde/es/estadis/infoest/sindi.html	www.bde.es/webbde/es/estadis/infoest/sindi.html	NOUN
ejge-4303	51	22	spr	spr	NOUN
ejge-4303	52	1	5.66	5.66	NUM
ejge-4303	52	2	0.01	0.01	NUM
ejge-4303	52	3	1.51	1.51	NUM
ejge-4303	52	4	1.71	1.71	NUM
ejge-4303	52	5	www.bde.es/webbde/es/estadis/infoest/indeco.html	www.bde.es/webbde/es/estadis/infoest/indeco.html	PRON
ejge-4303	52	6	bor_cap	bor_cap	ADP
ejge-4303	52	7	2.40	2.40	NUM
ejge-4303	52	8	-11.00	-11.00	PUNCT
ejge-4303	52	9	-3.18	-3.18	NUM
ejge-4303	52	10	3.18	3.18	NUM
ejge-4303	52	11	www.bde.es/webbde/es/estadis/infoest/indeco.html	www.bde.es/webbde/es/estadis/infoest/indeco.html	X
ejge-4303	52	12	vix	vix	VERB
ejge-4303	52	13	58.60	58.60	NUM
ejge-4303	52	14	11.03	11.03	NUM
ejge-4303	52	15	20.49	20.49	NUM
ejge-4303	52	16	7.68	7.68	NUM
ejge-4303	52	17	www.cboe.com/micro/vix/historical.aspx	www.cboe.com/micro/vix/historical.aspx	NOUN
ejge-4303	52	18	table	table	NOUN
ejge-4303	52	19	1	1	NUM
ejge-4303	52	20	shows	show	VERB
ejge-4303	52	21	the	the	DET
ejge-4303	52	22	detail	detail	NOUN
ejge-4303	52	23	of	of	ADP
ejge-4303	52	24	the	the	DET
ejge-4303	52	25	main	main	ADJ
ejge-4303	52	26	descriptive	descriptive	ADJ
ejge-4303	52	27	statistics	statistic	NOUN
ejge-4303	52	28	of	of	ADP
ejge-4303	52	29	the	the	DET
ejge-4303	52	30	variables	variable	NOUN
ejge-4303	52	31	.	.	PUNCT
ejge-4303	53	1	as	as	SCONJ
ejge-4303	53	2	we	we	PRON
ejge-4303	53	3	mentioned	mention	VERB
ejge-4303	53	4	before	before	ADV
ejge-4303	53	5	,	,	PUNCT
ejge-4303	53	6	the	the	DET
ejge-4303	53	7	esi	esi	PROPN
ejge-4303	53	8	is	be	AUX
ejge-4303	53	9	a	a	DET
ejge-4303	53	10	composite	composite	ADJ
ejge-4303	53	11	index	index	NOUN
ejge-4303	53	12	published	publish	VERB
ejge-4303	53	13	on	on	ADP
ejge-4303	53	14	a	a	DET
ejge-4303	53	15	monthly	monthly	ADJ
ejge-4303	53	16	basis2	basis2	NOUN
ejge-4303	53	17	2	2	NUM
ejge-4303	53	18	the	the	DET
ejge-4303	53	19	compilation	compilation	NOUN
ejge-4303	53	20	of	of	ADP
ejge-4303	53	21	statistics	statistic	NOUN
ejge-4303	53	22	on	on	ADP
ejge-4303	53	23	the	the	DET
ejge-4303	53	24	esi	esi	PROPN
ejge-4303	53	25	is	be	AUX
ejge-4303	53	26	part	part	NOUN
ejge-4303	53	27	of	of	ADP
ejge-4303	53	28	the	the	DET
ejge-4303	53	29	joint	joint	ADJ
ejge-4303	53	30	harmonised	harmonise	VERB
ejge-4303	53	31	eu	eu	PROPN
ejge-4303	53	32	programme	programme	NOUN
ejge-4303	53	33	of	of	ADP
ejge-4303	53	34	business	business	NOUN
ejge-4303	53	35	and	and	CCONJ
ejge-4303	53	36	consumer	consumer	NOUN
ejge-4303	53	37	surveys	survey	NOUN
ejge-4303	53	38	(	(	PUNCT
ejge-4303	53	39	bcs	bcs	NOUN
ejge-4303	53	40	)	)	PUNCT
ejge-4303	53	41	.	.	PUNCT
ejge-4303	54	1	data	datum	NOUN
ejge-4303	54	2	of	of	ADP
ejge-4303	54	3	this	this	DET
ejge-4303	54	4	indicator	indicator	NOUN
ejge-4303	54	5	are	be	AUX
ejge-4303	54	6	published	publish	VERB
ejge-4303	54	7	monthly	monthly	ADV
ejge-4303	54	8	by	by	ADP
ejge-4303	54	9	the	the	DET
ejge-4303	54	10	directorate	directorate	ADJ
ejge-4303	54	11	general	general	NOUN
ejge-4303	54	12	for	for	ADP
ejge-4303	54	13	economic	economic	ADJ
ejge-4303	54	14	and	and	CCONJ
ejge-4303	54	15	financial	financial	ADJ
ejge-4303	54	16	affairs	affair	NOUN
ejge-4303	54	17	,	,	PUNCT
ejge-4303	54	18	organism	organism	NOUN
ejge-4303	54	19	which	which	PRON
ejge-4303	54	20	depends	depend	VERB
ejge-4303	54	21	on	on	ADP
ejge-4303	54	22	the	the	DET
ejge-4303	54	23	european	european	PROPN
ejge-4303	54	24	commission	commission	PROPN
ejge-4303	54	25	.	.	PUNCT
ejge-4303	55	1	castellanos	castellanos	PROPN
ejge-4303	55	2	et	et	PROPN
ejge-4303	55	3	al	al	PROPN
ejge-4303	55	4	.	.	PUNCT
ejge-4303	56	1	●	●	PUNCT
ejge-4303	56	2	the	the	DET
ejge-4303	56	3	role	role	NOUN
ejge-4303	56	4	of	of	ADP
ejge-4303	56	5	confidence	confidence	NOUN
ejge-4303	56	6	in	in	ADP
ejge-4303	56	7	the	the	DET
ejge-4303	56	8	evolution	evolution	NOUN
ejge-4303	56	9	of	of	ADP
ejge-4303	56	10	the	the	DET
ejge-4303	56	11	spanish	spanish	ADJ
ejge-4303	56	12	economy	economy	NOUN
ejge-4303	56	13	151	151	NUM
ejge-4303	56	14	made	make	VERB
ejge-4303	56	15	up	up	ADP
ejge-4303	56	16	of	of	ADP
ejge-4303	56	17	five	five	NUM
ejge-4303	56	18	sectorial	sectorial	ADJ
ejge-4303	56	19	confidence	confidence	NOUN
ejge-4303	56	20	indicators	indicator	NOUN
ejge-4303	56	21	with	with	ADP
ejge-4303	56	22	different	different	ADJ
ejge-4303	56	23	weights	weight	NOUN
ejge-4303	56	24	:	:	PUNCT
ejge-4303	56	25	industrial	industrial	ADJ
ejge-4303	56	26	confidence	confidence	NOUN
ejge-4303	56	27	indicator	indicator	NOUN
ejge-4303	56	28	(	(	PUNCT
ejge-4303	56	29	40	40	NUM
ejge-4303	56	30	%	%	NOUN
ejge-4303	56	31	)	)	PUNCT
ejge-4303	56	32	,	,	PUNCT
ejge-4303	56	33	service	service	NOUN
ejge-4303	56	34	confidence	confidence	NOUN
ejge-4303	56	35	indicator	indicator	NOUN
ejge-4303	56	36	(	(	PUNCT
ejge-4303	56	37	30	30	NUM
ejge-4303	56	38	%	%	NOUN
ejge-4303	56	39	)	)	PUNCT
ejge-4303	56	40	,	,	PUNCT
ejge-4303	56	41	construction	construction	NOUN
ejge-4303	56	42	confidence	confidence	NOUN
ejge-4303	56	43	indicator	indicator	NOUN
ejge-4303	56	44	(	(	PUNCT
ejge-4303	56	45	5	5	NUM
ejge-4303	56	46	%	%	NOUN
ejge-4303	56	47	)	)	PUNCT
ejge-4303	56	48	,	,	PUNCT
ejge-4303	56	49	consumer	consumer	NOUN
ejge-4303	56	50	confidence	confidence	NOUN
ejge-4303	56	51	indicator	indicator	NOUN
ejge-4303	56	52	(	(	PUNCT
ejge-4303	56	53	20	20	NUM
ejge-4303	56	54	%	%	NOUN
ejge-4303	56	55	)	)	PUNCT
ejge-4303	56	56	and	and	CCONJ
ejge-4303	56	57	retail	retail	ADJ
ejge-4303	56	58	trade	trade	NOUN
ejge-4303	56	59	confidence	confidence	NOUN
ejge-4303	56	60	indicator	indicator	NOUN
ejge-4303	56	61	(	(	PUNCT
ejge-4303	56	62	5	5	NUM
ejge-4303	56	63	%	%	NOUN
ejge-4303	56	64	)	)	PUNCT
ejge-4303	56	65	.	.	PUNCT
ejge-4303	57	1	confidence	confidence	NOUN
ejge-4303	57	2	indicators	indicator	NOUN
ejge-4303	57	3	are	be	AUX
ejge-4303	57	4	seasonally	seasonally	ADV
ejge-4303	57	5	adjusted	adjust	VERB
ejge-4303	57	6	data	datum	NOUN
ejge-4303	57	7	obtained	obtain	VERB
ejge-4303	57	8	from	from	ADP
ejge-4303	57	9	a	a	DET
ejge-4303	57	10	survey	survey	NOUN
ejge-4303	57	11	with	with	ADP
ejge-4303	57	12	specific	specific	ADJ
ejge-4303	57	13	questions	question	NOUN
ejge-4303	57	14	for	for	ADP
ejge-4303	57	15	each	each	DET
ejge-4303	57	16	sector	sector	NOUN
ejge-4303	57	17	.	.	PUNCT
ejge-4303	58	1	esi	esi	PROPN
ejge-4303	58	2	values	value	NOUN
ejge-4303	58	3	are	be	AUX
ejge-4303	58	4	derived	derive	VERB
ejge-4303	58	5	from	from	ADP
ejge-4303	58	6	qualitative	qualitative	ADJ
ejge-4303	58	7	questions	question	NOUN
ejge-4303	58	8	about	about	ADP
ejge-4303	58	9	current	current	ADJ
ejge-4303	58	10	and	and	CCONJ
ejge-4303	58	11	future	future	ADJ
ejge-4303	58	12	behaviour	behaviour	NOUN
ejge-4303	58	13	of	of	ADP
ejge-4303	58	14	economic	economic	ADJ
ejge-4303	58	15	agents	agent	NOUN
ejge-4303	58	16	.	.	PUNCT
ejge-4303	59	1	in	in	ADP
ejge-4303	59	2	this	this	DET
ejge-4303	59	3	sense	sense	NOUN
ejge-4303	59	4	,	,	PUNCT
ejge-4303	59	5	the	the	DET
ejge-4303	59	6	confidence	confidence	NOUN
ejge-4303	59	7	indicator	indicator	NOUN
ejge-4303	59	8	is	be	AUX
ejge-4303	59	9	calculated	calculate	VERB
ejge-4303	59	10	for	for	ADP
ejge-4303	59	11	each	each	DET
ejge-4303	59	12	sector	sector	NOUN
ejge-4303	59	13	as	as	ADP
ejge-4303	59	14	an	an	DET
ejge-4303	59	15	arithmetic	arithmetic	ADJ
ejge-4303	59	16	mean	mean	NOUN
ejge-4303	59	17	of	of	ADP
ejge-4303	59	18	the	the	DET
ejge-4303	59	19	responses	response	NOUN
ejge-4303	59	20	(	(	PUNCT
ejge-4303	59	21	seasonally	seasonally	ADV
ejge-4303	59	22	adjusted	adjust	VERB
ejge-4303	59	23	)	)	PUNCT
ejge-4303	59	24	to	to	ADP
ejge-4303	59	25	specific	specific	ADJ
ejge-4303	59	26	questions	question	NOUN
ejge-4303	59	27	related	relate	VERB
ejge-4303	59	28	to	to	ADP
ejge-4303	59	29	a	a	DET
ejge-4303	59	30	reference	reference	NOUN
ejge-4303	59	31	variable	variable	NOUN
ejge-4303	59	32	whose	whose	DET
ejge-4303	59	33	trajectory	trajectory	NOUN
ejge-4303	59	34	is	be	AUX
ejge-4303	59	35	tried	try	VERB
ejge-4303	59	36	to	to	PART
ejge-4303	59	37	be	be	AUX
ejge-4303	59	38	anticipated	anticipate	VERB
ejge-4303	59	39	(	(	PUNCT
ejge-4303	59	40	e.g.	e.g.	ADV
ejge-4303	59	41	industrial	industrial	ADJ
ejge-4303	59	42	production	production	NOUN
ejge-4303	59	43	in	in	ADP
ejge-4303	59	44	the	the	DET
ejge-4303	59	45	case	case	NOUN
ejge-4303	59	46	of	of	ADP
ejge-4303	59	47	the	the	DET
ejge-4303	59	48	industrial	industrial	ADJ
ejge-4303	59	49	confidence	confidence	NOUN
ejge-4303	59	50	indicator	indicator	NOUN
ejge-4303	59	51	)	)	PUNCT
ejge-4303	59	52	.	.	PUNCT
ejge-4303	60	1	the	the	DET
ejge-4303	60	2	responses	response	NOUN
ejge-4303	60	3	from	from	ADP
ejge-4303	60	4	the	the	DET
ejge-4303	60	5	surveys	survey	NOUN
ejge-4303	60	6	are	be	AUX
ejge-4303	60	7	added	add	VERB
ejge-4303	60	8	as	as	ADP
ejge-4303	60	9	"	"	PUNCT
ejge-4303	60	10	balances	balance	NOUN
ejge-4303	60	11	"	"	PUNCT
ejge-4303	60	12	which	which	PRON
ejge-4303	60	13	are	be	AUX
ejge-4303	60	14	calculated	calculate	VERB
ejge-4303	60	15	as	as	ADP
ejge-4303	60	16	the	the	DET
ejge-4303	60	17	differences	difference	NOUN
ejge-4303	60	18	between	between	ADP
ejge-4303	60	19	the	the	DET
ejge-4303	60	20	percentages	percentage	NOUN
ejge-4303	60	21	of	of	ADP
ejge-4303	60	22	respondents	respondent	NOUN
ejge-4303	60	23	who	who	PRON
ejge-4303	60	24	provided	provide	VERB
ejge-4303	60	25	positive	positive	ADJ
ejge-4303	60	26	and	and	CCONJ
ejge-4303	60	27	negative	negative	ADJ
ejge-4303	60	28	responses	response	NOUN
ejge-4303	60	29	.	.	PUNCT
ejge-4303	61	1	in	in	ADP
ejge-4303	61	2	numerical	numerical	ADJ
ejge-4303	61	3	terms	term	NOUN
ejge-4303	61	4	,	,	PUNCT
ejge-4303	61	5	the	the	DET
ejge-4303	61	6	esi	esi	NOUN
ejge-4303	61	7	is	be	AUX
ejge-4303	61	8	calculated	calculate	VERB
ejge-4303	61	9	as	as	ADP
ejge-4303	61	10	an	an	DET
ejge-4303	61	11	index	index	NOUN
ejge-4303	61	12	value	value	NOUN
ejge-4303	61	13	with	with	ADP
ejge-4303	61	14	an	an	DET
ejge-4303	61	15	average	average	NOUN
ejge-4303	61	16	of	of	ADP
ejge-4303	61	17	100	100	NUM
ejge-4303	61	18	and	and	CCONJ
ejge-4303	61	19	a	a	DET
ejge-4303	61	20	standard	standard	ADJ
ejge-4303	61	21	deviation	deviation	NOUN
ejge-4303	61	22	of	of	ADP
ejge-4303	61	23	10	10	NUM
ejge-4303	61	24	for	for	ADP
ejge-4303	61	25	a	a	DET
ejge-4303	61	26	given	give	VERB
ejge-4303	61	27	sampling	sampling	NOUN
ejge-4303	61	28	period	period	NOUN
ejge-4303	61	29	.	.	PUNCT
ejge-4303	62	1	indicators	indicator	NOUN
ejge-4303	62	2	for	for	ADP
ejge-4303	62	3	each	each	PRON
ejge-4303	62	4	of	of	ADP
ejge-4303	62	5	the	the	DET
ejge-4303	62	6	sectors	sector	NOUN
ejge-4303	62	7	would	would	AUX
ejge-4303	62	8	be	be	AUX
ejge-4303	62	9	added	add	VERB
ejge-4303	62	10	in	in	ADP
ejge-4303	62	11	the	the	DET
ejge-4303	62	12	socalled	socalled	PROPN
ejge-4303	62	13	esi	esi	PROPN
ejge-4303	62	14	.	.	PROPN
ejge-4303	62	15	in	in	ADP
ejge-4303	62	16	this	this	DET
ejge-4303	62	17	study	study	NOUN
ejge-4303	62	18	,	,	PUNCT
ejge-4303	62	19	since	since	SCONJ
ejge-4303	62	20	all	all	DET
ejge-4303	62	21	other	other	ADJ
ejge-4303	62	22	variables	variable	NOUN
ejge-4303	62	23	are	be	AUX
ejge-4303	62	24	expressed	express	VERB
ejge-4303	62	25	quarterly	quarterly	ADV
ejge-4303	62	26	,	,	PUNCT
ejge-4303	62	27	we	we	PRON
ejge-4303	62	28	proceeded	proceed	VERB
ejge-4303	62	29	to	to	PART
ejge-4303	62	30	calculate	calculate	VERB
ejge-4303	62	31	a	a	DET
ejge-4303	62	32	quarterly	quarterly	ADJ
ejge-4303	62	33	value	value	NOUN
ejge-4303	62	34	of	of	ADP
ejge-4303	62	35	esi	esi	PROPN
ejge-4303	62	36	of	of	ADP
ejge-4303	62	37	spain	spain	PROPN
ejge-4303	62	38	to	to	PART
ejge-4303	62	39	make	make	VERB
ejge-4303	62	40	the	the	DET
ejge-4303	62	41	appropriate	appropriate	ADJ
ejge-4303	62	42	econometric	econometric	ADJ
ejge-4303	62	43	tests	test	NOUN
ejge-4303	62	44	,	,	PUNCT
ejge-4303	62	45	denoted	denote	VERB
ejge-4303	62	46	as	as	ADP
ejge-4303	62	47	esi_sp	esi_sp	PROPN
ejge-4303	62	48	.	.	PUNCT
ejge-4303	63	1	the	the	DET
ejge-4303	63	2	chicago	chicago	PROPN
ejge-4303	63	3	board	board	PROPN
ejge-4303	63	4	options	option	NOUN
ejge-4303	63	5	exchange	exchange	PROPN
ejge-4303	63	6	market	market	NOUN
ejge-4303	63	7	volatility	volatility	NOUN
ejge-4303	63	8	index	index	NOUN
ejge-4303	63	9	,	,	PUNCT
ejge-4303	63	10	also	also	ADV
ejge-4303	63	11	known	know	VERB
ejge-4303	63	12	as	as	ADP
ejge-4303	63	13	vix	vix	PROPN
ejge-4303	63	14	,	,	PUNCT
ejge-4303	63	15	is	be	AUX
ejge-4303	63	16	an	an	DET
ejge-4303	63	17	index	index	NOUN
ejge-4303	63	18	that	that	PRON
ejge-4303	63	19	measures	measure	VERB
ejge-4303	63	20	the	the	DET
ejge-4303	63	21	price	price	NOUN
ejge-4303	63	22	volatility	volatility	NOUN
ejge-4303	63	23	of	of	ADP
ejge-4303	63	24	the	the	DET
ejge-4303	63	25	options	option	NOUN
ejge-4303	63	26	on	on	ADP
ejge-4303	63	27	the	the	DET
ejge-4303	63	28	standard	standard	PROPN
ejge-4303	63	29	&	&	CCONJ
ejge-4303	63	30	poors	poors	PROPN
ejge-4303	63	31	500	500	NUM
ejge-4303	63	32	index	index	NOUN
ejge-4303	63	33	(	(	PUNCT
ejge-4303	63	34	spx	spx	NOUN
ejge-4303	63	35	)	)	PUNCT
ejge-4303	63	36	.	.	PUNCT
ejge-4303	64	1	this	this	DET
ejge-4303	64	2	index	index	NOUN
ejge-4303	64	3	is	be	AUX
ejge-4303	64	4	considered	consider	VERB
ejge-4303	64	5	a	a	DET
ejge-4303	64	6	benchmark	benchmark	NOUN
ejge-4303	64	7	for	for	ADP
ejge-4303	64	8	measuring	measure	VERB
ejge-4303	64	9	market	market	NOUN
ejge-4303	64	10	volatility	volatility	NOUN
ejge-4303	64	11	,	,	PUNCT
ejge-4303	64	12	collecting	collect	VERB
ejge-4303	64	13	in	in	ADP
ejge-4303	64	14	an	an	DET
ejge-4303	64	15	indirect	indirect	ADJ
ejge-4303	64	16	way	way	NOUN
ejge-4303	64	17	the	the	DET
ejge-4303	64	18	"	"	PUNCT
ejge-4303	64	19	feeling	feeling	NOUN
ejge-4303	64	20	"	"	PUNCT
ejge-4303	64	21	of	of	ADP
ejge-4303	64	22	agents	agent	NOUN
ejge-4303	64	23	operating	operate	VERB
ejge-4303	64	24	in	in	ADP
ejge-4303	64	25	it	it	PRON
ejge-4303	64	26	.	.	PUNCT
ejge-4303	65	1	when	when	SCONJ
ejge-4303	65	2	volatility	volatility	NOUN
ejge-4303	65	3	is	be	AUX
ejge-4303	65	4	high	high	ADJ
ejge-4303	65	5	,	,	PUNCT
ejge-4303	65	6	the	the	DET
ejge-4303	65	7	vix	vix	PROPN
ejge-4303	65	8	reaches	reach	VERB
ejge-4303	65	9	a	a	DET
ejge-4303	65	10	high	high	ADJ
ejge-4303	65	11	figure	figure	NOUN
ejge-4303	65	12	and	and	CCONJ
ejge-4303	65	13	correlates	correlate	VERB
ejge-4303	65	14	with	with	ADP
ejge-4303	65	15	falls	fall	NOUN
ejge-4303	65	16	of	of	ADP
ejge-4303	65	17	s&p	s&p	PROPN
ejge-4303	65	18	500	500	NUM
ejge-4303	65	19	,	,	PUNCT
ejge-4303	65	20	pointing	point	VERB
ejge-4303	65	21	out	out	ADP
ejge-4303	65	22	that	that	SCONJ
ejge-4303	65	23	there	there	PRON
ejge-4303	65	24	is	be	VERB
ejge-4303	65	25	fear	fear	NOUN
ejge-4303	65	26	and	and	CCONJ
ejge-4303	65	27	pessimism	pessimism	NOUN
ejge-4303	65	28	in	in	ADP
ejge-4303	65	29	the	the	DET
ejge-4303	65	30	market	market	NOUN
ejge-4303	65	31	,	,	PUNCT
ejge-4303	65	32	while	while	SCONJ
ejge-4303	65	33	a	a	DET
ejge-4303	65	34	minimum	minimum	NOUN
ejge-4303	65	35	vix	vix	NOUN
ejge-4303	65	36	reflects	reflect	VERB
ejge-4303	65	37	in	in	ADP
ejge-4303	65	38	an	an	DET
ejge-4303	65	39	atmosphere	atmosphere	NOUN
ejge-4303	65	40	of	of	ADP
ejge-4303	65	41	optimism	optimism	NOUN
ejge-4303	65	42	and	and	CCONJ
ejge-4303	65	43	confidence	confidence	NOUN
ejge-4303	65	44	.	.	PUNCT
ejge-4303	66	1	in	in	ADP
ejge-4303	66	2	sum	sum	NOUN
ejge-4303	66	3	,	,	PUNCT
ejge-4303	66	4	the	the	DET
ejge-4303	66	5	vix	vix	PROPN
ejge-4303	66	6	is	be	AUX
ejge-4303	66	7	an	an	DET
ejge-4303	66	8	indicator	indicator	NOUN
ejge-4303	66	9	that	that	PRON
ejge-4303	66	10	provides	provide	VERB
ejge-4303	66	11	information	information	NOUN
ejge-4303	66	12	on	on	ADP
ejge-4303	66	13	feelings	feeling	NOUN
ejge-4303	66	14	,	,	PUNCT
ejge-4303	66	15	perceptions	perception	NOUN
ejge-4303	66	16	or	or	CCONJ
ejge-4303	66	17	expectations	expectation	NOUN
ejge-4303	66	18	for	for	ADP
ejge-4303	66	19	the	the	DET
ejge-4303	66	20	future	future	NOUN
ejge-4303	66	21	.	.	PUNCT
ejge-4303	67	1	we	we	PRON
ejge-4303	67	2	incorporate	incorporate	VERB
ejge-4303	67	3	this	this	DET
ejge-4303	67	4	index	index	NOUN
ejge-4303	67	5	in	in	ADP
ejge-4303	67	6	our	our	PRON
ejge-4303	67	7	empirical	empirical	ADJ
ejge-4303	67	8	analysis	analysis	NOUN
ejge-4303	67	9	because	because	SCONJ
ejge-4303	67	10	it	it	PRON
ejge-4303	67	11	has	have	AUX
ejge-4303	67	12	recently	recently	ADV
ejge-4303	67	13	gained	gain	VERB
ejge-4303	67	14	acceptance	acceptance	NOUN
ejge-4303	67	15	as	as	ADP
ejge-4303	67	16	a	a	DET
ejge-4303	67	17	summary	summary	NOUN
ejge-4303	67	18	indicator	indicator	NOUN
ejge-4303	67	19	of	of	ADP
ejge-4303	67	20	global	global	ADJ
ejge-4303	67	21	uncertainty	uncertainty	NOUN
ejge-4303	67	22	or	or	CCONJ
ejge-4303	67	23	financial	financial	ADJ
ejge-4303	67	24	stress	stress	NOUN
ejge-4303	67	25	.	.	PUNCT
ejge-4303	68	1	in	in	ADP
ejge-4303	68	2	this	this	DET
ejge-4303	68	3	line	line	NOUN
ejge-4303	68	4	,	,	PUNCT
ejge-4303	68	5	authors	author	NOUN
ejge-4303	68	6	such	such	ADJ
ejge-4303	68	7	as	as	ADP
ejge-4303	68	8	bloom	bloom	NOUN
ejge-4303	68	9	(	(	PUNCT
ejge-4303	68	10	2009	2009	NUM
ejge-4303	68	11	)	)	PUNCT
ejge-4303	68	12	,	,	PUNCT
ejge-4303	68	13	show	show	VERB
ejge-4303	68	14	that	that	SCONJ
ejge-4303	68	15	the	the	DET
ejge-4303	68	16	vix	vix	NOUN
ejge-4303	68	17	is	be	AUX
ejge-4303	68	18	strongly	strongly	ADV
ejge-4303	68	19	correlated	correlate	VERB
ejge-4303	68	20	with	with	ADP
ejge-4303	68	21	measures	measure	NOUN
ejge-4303	68	22	of	of	ADP
ejge-4303	68	23	uncertainty	uncertainty	NOUN
ejge-4303	68	24	,	,	PUNCT
ejge-4303	68	25	including	include	VERB
ejge-4303	68	26	from	from	ADP
ejge-4303	68	27	financial	financial	ADJ
ejge-4303	68	28	variables	variable	NOUN
ejge-4303	68	29	.	.	PUNCT
ejge-4303	69	1	this	this	PRON
ejge-4303	69	2	lends	lend	VERB
ejge-4303	69	3	support	support	NOUN
ejge-4303	69	4	to	to	ADP
ejge-4303	69	5	its	its	PRON
ejge-4303	69	6	use	use	NOUN
ejge-4303	69	7	as	as	ADP
ejge-4303	69	8	a	a	DET
ejge-4303	69	9	measure	measure	NOUN
ejge-4303	69	10	of	of	ADP
ejge-4303	69	11	global	global	ADJ
ejge-4303	69	12	financial	financial	ADJ
ejge-4303	69	13	stress	stress	NOUN
ejge-4303	69	14	.	.	PUNCT
ejge-4303	70	1	since	since	SCONJ
ejge-4303	70	2	this	this	DET
ejge-4303	70	3	indicator	indicator	NOUN
ejge-4303	70	4	is	be	AUX
ejge-4303	70	5	calculated	calculate	VERB
ejge-4303	70	6	on	on	ADP
ejge-4303	70	7	a	a	DET
ejge-4303	70	8	daily	daily	ADJ
ejge-4303	70	9	basis	basis	NOUN
ejge-4303	70	10	,	,	PUNCT
ejge-4303	70	11	it	it	PRON
ejge-4303	70	12	has	have	AUX
ejge-4303	70	13	proceeded	proceed	VERB
ejge-4303	70	14	to	to	PART
ejge-4303	70	15	get	get	VERB
ejge-4303	70	16	its	its	PRON
ejge-4303	70	17	correspondent	correspondent	NOUN
ejge-4303	70	18	quarterly	quarterly	ADJ
ejge-4303	70	19	value	value	NOUN
ejge-4303	70	20	.	.	PUNCT
ejge-4303	71	1	the	the	DET
ejge-4303	71	2	yield	yield	NOUN
ejge-4303	71	3	spread	spread	NOUN
ejge-4303	71	4	of	of	ADP
ejge-4303	71	5	spanish	spanish	ADJ
ejge-4303	71	6	and	and	CCONJ
ejge-4303	71	7	german	german	ADJ
ejge-4303	71	8	government	government	NOUN
ejge-4303	71	9	bonds	bond	NOUN
ejge-4303	71	10	,	,	PUNCT
ejge-4303	71	11	also	also	ADV
ejge-4303	71	12	known	know	VERB
ejge-4303	71	13	as	as	ADP
ejge-4303	71	14	risk	risk	NOUN
ejge-4303	71	15	premium	premium	NOUN
ejge-4303	71	16	or	or	CCONJ
ejge-4303	71	17	spread	spread	VERB
ejge-4303	71	18	(	(	PUNCT
ejge-4303	71	19	hereinafter	hereinafter	NOUN
ejge-4303	71	20	,	,	PUNCT
ejge-4303	71	21	spr	spr	INTJ
ejge-4303	71	22	)	)	PUNCT
ejge-4303	71	23	was	be	AUX
ejge-4303	71	24	calculated	calculate	VERB
ejge-4303	71	25	as	as	ADP
ejge-4303	71	26	the	the	DET
ejge-4303	71	27	difference	difference	NOUN
ejge-4303	71	28	between	between	ADP
ejge-4303	71	29	the	the	DET
ejge-4303	71	30	spanish	spanish	ADJ
ejge-4303	71	31	and	and	CCONJ
ejge-4303	71	32	german	german	ADJ
ejge-4303	71	33	government	government	NOUN
ejge-4303	71	34	bonds	bond	NOUN
ejge-4303	71	35	yield	yield	VERB
ejge-4303	71	36	to	to	ADP
ejge-4303	71	37	ten	ten	NUM
ejge-4303	71	38	years	year	NOUN
ejge-4303	71	39	in	in	ADP
ejge-4303	71	40	domestic	domestic	ADJ
ejge-4303	71	41	markets	market	NOUN
ejge-4303	71	42	.	.	PUNCT
ejge-4303	72	1	theoretically	theoretically	ADV
ejge-4303	72	2	speaking	speak	VERB
ejge-4303	72	3	,	,	PUNCT
ejge-4303	72	4	a	a	DET
ejge-4303	72	5	high	high	ADJ
ejge-4303	72	6	risk	risk	NOUN
ejge-4303	72	7	premium	premium	NOUN
ejge-4303	72	8	would	would	AUX
ejge-4303	72	9	show	show	VERB
ejge-4303	72	10	lack	lack	NOUN
ejge-4303	72	11	of	of	ADP
ejge-4303	72	12	confidence	confidence	NOUN
ejge-4303	72	13	in	in	ADP
ejge-4303	72	14	the	the	DET
ejge-4303	72	15	possibilities	possibility	NOUN
ejge-4303	72	16	of	of	ADP
ejge-4303	72	17	an	an	DET
ejge-4303	72	18	economy	economy	NOUN
ejge-4303	72	19	to	to	PART
ejge-4303	72	20	pay	pay	VERB
ejge-4303	72	21	its	its	PRON
ejge-4303	72	22	public	public	ADJ
ejge-4303	72	23	debt	debt	NOUN
ejge-4303	72	24	.	.	PUNCT
ejge-4303	73	1	from	from	ADP
ejge-4303	73	2	this	this	DET
ejge-4303	73	3	perspective	perspective	NOUN
ejge-4303	73	4	,	,	PUNCT
ejge-4303	73	5	the	the	DET
ejge-4303	73	6	risk	risk	NOUN
ejge-4303	73	7	premium	premium	NOUN
ejge-4303	73	8	can	can	AUX
ejge-4303	73	9	be	be	AUX
ejge-4303	73	10	considered	consider	VERB
ejge-4303	73	11	as	as	ADP
ejge-4303	73	12	an	an	DET
ejge-4303	73	13	extra	extra	ADJ
ejge-4303	73	14	compensation	compensation	NOUN
ejge-4303	73	15	demanded	demand	VERB
ejge-4303	73	16	by	by	ADP
ejge-4303	73	17	investors	investor	NOUN
ejge-4303	73	18	for	for	ADP
ejge-4303	73	19	holding	hold	VERB
ejge-4303	73	20	an	an	DET
ejge-4303	73	21	asset	asset	NOUN
ejge-4303	73	22	that	that	PRON
ejge-4303	73	23	involves	involve	VERB
ejge-4303	73	24	not	not	PART
ejge-4303	73	25	only	only	ADV
ejge-4303	73	26	a	a	DET
ejge-4303	73	27	predictable	predictable	ADJ
ejge-4303	73	28	and	and	CCONJ
ejge-4303	73	29	measurable	measurable	ADJ
ejge-4303	73	30	risk	risk	NOUN
ejge-4303	73	31	(	(	PUNCT
ejge-4303	73	32	specific	specific	ADJ
ejge-4303	73	33	to	to	ADP
ejge-4303	73	34	the	the	DET
ejge-4303	73	35	economy	economy	NOUN
ejge-4303	73	36	in	in	ADP
ejge-4303	73	37	question	question	NOUN
ejge-4303	73	38	)	)	PUNCT
ejge-4303	73	39	,	,	PUNCT
ejge-4303	73	40	but	but	CCONJ
ejge-4303	73	41	also	also	ADV
ejge-4303	73	42	an	an	DET
ejge-4303	73	43	uncertainty	uncertainty	NOUN
ejge-4303	73	44	component	component	NOUN
ejge-4303	73	45	difficult	difficult	ADJ
ejge-4303	73	46	to	to	PART
ejge-4303	73	47	quantify	quantify	VERB
ejge-4303	73	48	.	.	PUNCT
ejge-4303	74	1	in	in	ADP
ejge-4303	74	2	this	this	DET
ejge-4303	74	3	sense	sense	NOUN
ejge-4303	74	4	,	,	PUNCT
ejge-4303	74	5	the	the	DET
ejge-4303	74	6	german	german	ADJ
ejge-4303	74	7	long	long	ADJ
ejge-4303	74	8	-	-	PUNCT
ejge-4303	74	9	term	term	NOUN
ejge-4303	74	10	debt	debt	NOUN
ejge-4303	74	11	is	be	AUX
ejge-4303	74	12	used	use	VERB
ejge-4303	74	13	widely	widely	ADV
ejge-4303	74	14	as	as	ADP
ejge-4303	74	15	a	a	DET
ejge-4303	74	16	proxy	proxy	NOUN
ejge-4303	74	17	for	for	ADP
ejge-4303	74	18	the	the	DET
ejge-4303	74	19	return	return	NOUN
ejge-4303	74	20	of	of	ADP
ejge-4303	74	21	a	a	DET
ejge-4303	74	22	risk	risk	NOUN
ejge-4303	74	23	-	-	PUNCT
ejge-4303	74	24	free	free	ADJ
ejge-4303	74	25	asset	asset	NOUN
ejge-4303	74	26	and	and	CCONJ
ejge-4303	74	27	,	,	PUNCT
ejge-4303	74	28	consequently	consequently	ADV
ejge-4303	74	29	,	,	PUNCT
ejge-4303	74	30	their	their	PRON
ejge-4303	74	31	differential	differential	NOUN
ejge-4303	74	32	with	with	ADP
ejge-4303	74	33	respect	respect	NOUN
ejge-4303	74	34	to	to	ADP
ejge-4303	74	35	the	the	DET
ejge-4303	74	36	bond	bond	NOUN
ejge-4303	74	37	yields	yield	NOUN
ejge-4303	74	38	of	of	ADP
ejge-4303	74	39	other	other	ADJ
ejge-4303	74	40	eurozone	eurozone	NOUN
ejge-4303	74	41	economies	economy	NOUN
ejge-4303	74	42	is	be	AUX
ejge-4303	74	43	considered	consider	VERB
ejge-4303	74	44	as	as	ADP
ejge-4303	74	45	a	a	DET
ejge-4303	74	46	measure	measure	NOUN
ejge-4303	74	47	of	of	ADP
ejge-4303	74	48	default	default	NOUN
ejge-4303	74	49	risk	risk	NOUN
ejge-4303	74	50	associated	associate	VERB
ejge-4303	74	51	with	with	ADP
ejge-4303	74	52	the	the	DET
ejge-4303	74	53	sovereign	sovereign	ADJ
ejge-4303	74	54	debt	debt	NOUN
ejge-4303	74	55	of	of	ADP
ejge-4303	74	56	a	a	DET
ejge-4303	74	57	country	country	NOUN
ejge-4303	74	58	.	.	PUNCT
ejge-4303	75	1	this	this	DET
ejge-4303	75	2	spread	spread	NOUN
ejge-4303	75	3	is	be	AUX
ejge-4303	75	4	also	also	ADV
ejge-4303	75	5	obtained	obtain	VERB
ejge-4303	75	6	on	on	ADP
ejge-4303	75	7	a	a	DET
ejge-4303	75	8	daily	daily	ADJ
ejge-4303	75	9	basis	basis	NOUN
ejge-4303	75	10	and	and	CCONJ
ejge-4303	75	11	was	be	AUX
ejge-4303	75	12	transformed	transform	VERB
ejge-4303	75	13	quarterly	quarterly	ADV
ejge-4303	75	14	for	for	ADP
ejge-4303	75	15	the	the	DET
ejge-4303	75	16	study	study	NOUN
ejge-4303	75	17	using	use	VERB
ejge-4303	75	18	an	an	DET
ejge-4303	75	19	arithmetic	arithmetic	ADJ
ejge-4303	75	20	mean	mean	NOUN
ejge-4303	75	21	.	.	PUNCT
ejge-4303	76	1	these	these	DET
ejge-4303	76	2	three	three	NUM
ejge-4303	76	3	variables	variable	NOUN
ejge-4303	76	4	(	(	PUNCT
ejge-4303	76	5	the	the	DET
ejge-4303	76	6	esi_sp	esi_sp	PROPN
ejge-4303	76	7	,	,	PUNCT
ejge-4303	76	8	the	the	DET
ejge-4303	76	9	vix	vix	PROPN
ejge-4303	76	10	and	and	CCONJ
ejge-4303	76	11	the	the	DET
ejge-4303	76	12	spread	spread	NOUN
ejge-4303	76	13	)	)	PUNCT
ejge-4303	76	14	have	have	VERB
ejge-4303	76	15	in	in	ADP
ejge-4303	76	16	common	common	ADJ
ejge-4303	76	17	(	(	PUNCT
ejge-4303	76	18	each	each	PRON
ejge-4303	76	19	in	in	ADP
ejge-4303	76	20	its	its	PRON
ejge-4303	76	21	field	field	NOUN
ejge-4303	76	22	,	,	PUNCT
ejge-4303	76	23	with	with	ADP
ejge-4303	76	24	its	its	PRON
ejge-4303	76	25	own	own	ADJ
ejge-4303	76	26	characteristics	characteristic	NOUN
ejge-4303	76	27	)	)	PUNCT
ejge-4303	76	28	that	that	SCONJ
ejge-4303	76	29	they	they	PRON
ejge-4303	76	30	collect	collect	VERB
ejge-4303	76	31	qualitative	qualitative	ADJ
ejge-4303	76	32	information	information	NOUN
ejge-4303	76	33	on	on	ADP
ejge-4303	76	34	the	the	DET
ejge-4303	76	35	economy	economy	NOUN
ejge-4303	76	36	in	in	ADP
ejge-4303	76	37	relation	relation	NOUN
ejge-4303	76	38	to	to	ADP
ejge-4303	76	39	the	the	DET
ejge-4303	76	40	“	"	PUNCT
ejge-4303	76	41	sentiment	sentiment	NOUN
ejge-4303	76	42	”	"	PUNCT
ejge-4303	76	43	,	,	PUNCT
ejge-4303	76	44	the	the	DET
ejge-4303	76	45	state	state	NOUN
ejge-4303	76	46	of	of	ADP
ejge-4303	76	47	opinion	opinion	NOUN
ejge-4303	76	48	or	or	CCONJ
ejge-4303	76	49	expectations	expectation	NOUN
ejge-4303	76	50	of	of	ADP
ejge-4303	76	51	the	the	DET
ejge-4303	76	52	economic	economic	ADJ
ejge-4303	76	53	agents	agent	NOUN
ejge-4303	76	54	whose	whose	DET
ejge-4303	76	55	decisions	decision	NOUN
ejge-4303	76	56	determine	determine	VERB
ejge-4303	76	57	the	the	DET
ejge-4303	76	58	economic	economic	ADJ
ejge-4303	76	59	progress	progress	NOUN
ejge-4303	76	60	of	of	ADP
ejge-4303	76	61	the	the	DET
ejge-4303	76	62	country	country	NOUN
ejge-4303	76	63	.	.	PUNCT
ejge-4303	77	1	among	among	ADP
ejge-4303	77	2	the	the	DET
ejge-4303	77	3	fundamentals	fundamental	NOUN
ejge-4303	77	4	of	of	ADP
ejge-4303	77	5	the	the	DET
ejge-4303	77	6	spanish	spanish	ADJ
ejge-4303	77	7	economy	economy	NOUN
ejge-4303	77	8	we	we	PRON
ejge-4303	77	9	incorporate	incorporate	VERB
ejge-4303	77	10	to	to	ADP
ejge-4303	77	11	our	our	PRON
ejge-4303	77	12	analysis	analysis	NOUN
ejge-4303	77	13	the	the	DET
ejge-4303	77	14	following	follow	VERB
ejge-4303	77	15	ones	one	NOUN
ejge-4303	77	16	:	:	PUNCT
ejge-4303	77	17	·	·	PUNCT
ejge-4303	77	18	unemployment	unemployment	NOUN
ejge-4303	77	19	rate	rate	NOUN
ejge-4303	77	20	(	(	PUNCT
ejge-4303	77	21	unem	unem	PROPN
ejge-4303	77	22	)	)	PUNCT
ejge-4303	77	23	.	.	PUNCT
ejge-4303	78	1	the	the	DET
ejge-4303	78	2	unemployment	unemployment	NOUN
ejge-4303	78	3	rate	rate	NOUN
ejge-4303	78	4	is	be	AUX
ejge-4303	78	5	one	one	NUM
ejge-4303	78	6	of	of	ADP
ejge-4303	78	7	the	the	DET
ejge-4303	78	8	most	most	ADV
ejge-4303	78	9	important	important	ADJ
ejge-4303	78	10	for	for	ADP
ejge-4303	78	11	not	not	PART
ejge-4303	78	12	only	only	ADV
ejge-4303	78	13	economic	economic	ADJ
ejge-4303	78	14	but	but	CCONJ
ejge-4303	78	15	also	also	ADV
ejge-4303	78	16	social	social	ADJ
ejge-4303	78	17	situation	situation	NOUN
ejge-4303	78	18	in	in	ADP
ejge-4303	78	19	a	a	DET
ejge-4303	78	20	country	country	NOUN
ejge-4303	78	21	.	.	PUNCT
ejge-4303	79	1	traditionally	traditionally	ADV
ejge-4303	79	2	the	the	DET
ejge-4303	79	3	level	level	NOUN
ejge-4303	79	4	or	or	CCONJ
ejge-4303	79	5	change	change	NOUN
ejge-4303	79	6	in	in	ADP
ejge-4303	79	7	the	the	DET
ejge-4303	79	8	unemployment	unemployment	NOUN
ejge-4303	79	9	rate	rate	NOUN
ejge-4303	79	10	is	be	AUX
ejge-4303	79	11	used	use	VERB
ejge-4303	79	12	as	as	ADP
ejge-4303	79	13	a	a	DET
ejge-4303	79	14	proxy	proxy	NOUN
ejge-4303	79	15	,	,	PUNCT
ejge-4303	79	16	european	european	ADJ
ejge-4303	79	17	journal	journal	NOUN
ejge-4303	79	18	of	of	ADP
ejge-4303	79	19	government	government	NOUN
ejge-4303	79	20	and	and	CCONJ
ejge-4303	79	21	economics	economic	NOUN
ejge-4303	79	22	3(2	3(2	NUM
ejge-4303	79	23	)	)	PUNCT
ejge-4303	79	24	152	152	NUM
ejge-4303	79	25	or	or	CCONJ
ejge-4303	79	26	interpreted	interpret	VERB
ejge-4303	79	27	as	as	ADP
ejge-4303	79	28	such	such	ADJ
ejge-4303	79	29	,	,	PUNCT
ejge-4303	79	30	for	for	ADP
ejge-4303	79	31	future	future	ADJ
ejge-4303	79	32	economic	economic	ADJ
ejge-4303	79	33	conditions	condition	NOUN
ejge-4303	79	34	as	as	ADV
ejge-4303	79	35	well	well	ADV
ejge-4303	79	36	as	as	ADP
ejge-4303	79	37	for	for	ADP
ejge-4303	79	38	uncertainty	uncertainty	NOUN
ejge-4303	79	39	surrounding	surround	VERB
ejge-4303	79	40	these	these	DET
ejge-4303	79	41	conditions	condition	NOUN
ejge-4303	79	42	.	.	PUNCT
ejge-4303	80	1	·	·	PUNCT
ejge-4303	80	2	inflation	inflation	NOUN
ejge-4303	80	3	rate	rate	NOUN
ejge-4303	80	4	(	(	PUNCT
ejge-4303	80	5	inf	inf	NOUN
ejge-4303	80	6	)	)	PUNCT
ejge-4303	80	7	.	.	PUNCT
ejge-4303	81	1	since	since	SCONJ
ejge-4303	81	2	the	the	DET
ejge-4303	81	3	inflation	inflation	NOUN
ejge-4303	81	4	rate	rate	NOUN
ejge-4303	81	5	used	use	VERB
ejge-4303	81	6	in	in	ADP
ejge-4303	81	7	this	this	DET
ejge-4303	81	8	paper	paper	NOUN
ejge-4303	81	9	will	will	AUX
ejge-4303	81	10	be	be	AUX
ejge-4303	81	11	the	the	DET
ejge-4303	81	12	rate	rate	NOUN
ejge-4303	81	13	or	or	CCONJ
ejge-4303	81	14	percentage	percentage	NOUN
ejge-4303	81	15	change	change	NOUN
ejge-4303	81	16	in	in	ADP
ejge-4303	81	17	the	the	DET
ejge-4303	81	18	cpi	cpi	PROPN
ejge-4303	81	19	spain	spain	PROPN
ejge-4303	81	20	general	general	PROPN
ejge-4303	81	21	variable	variable	PROPN
ejge-4303	81	22	provided	provide	VERB
ejge-4303	81	23	monthly	monthly	ADV
ejge-4303	81	24	,	,	PUNCT
ejge-4303	81	25	series	series	NOUN
ejge-4303	81	26	has	have	AUX
ejge-4303	81	27	been	be	AUX
ejge-4303	81	28	transformed	transform	VERB
ejge-4303	81	29	on	on	ADP
ejge-4303	81	30	a	a	DET
ejge-4303	81	31	quarterly	quarterly	ADJ
ejge-4303	81	32	basis	basis	NOUN
ejge-4303	81	33	in	in	ADP
ejge-4303	81	34	order	order	NOUN
ejge-4303	81	35	to	to	PART
ejge-4303	81	36	allow	allow	VERB
ejge-4303	81	37	comparison	comparison	NOUN
ejge-4303	81	38	with	with	ADP
ejge-4303	81	39	other	other	ADJ
ejge-4303	81	40	variables	variable	NOUN
ejge-4303	81	41	.	.	PUNCT
ejge-4303	82	1	·	·	PUNCT
ejge-4303	82	2	private	private	ADJ
ejge-4303	82	3	debt	debt	NOUN
ejge-4303	82	4	(	(	PUNCT
ejge-4303	82	5	pri_deb	pri_deb	NOUN
ejge-4303	82	6	)	)	PUNCT
ejge-4303	82	7	.	.	PUNCT
ejge-4303	83	1	households	household	NOUN
ejge-4303	83	2	and	and	CCONJ
ejge-4303	83	3	private	private	ADJ
ejge-4303	83	4	nonfinancial	nonfinancial	ADJ
ejge-4303	83	5	corporations	corporation	NOUN
ejge-4303	83	6	debt	debt	NOUN
ejge-4303	83	7	has	have	AUX
ejge-4303	83	8	been	be	AUX
ejge-4303	83	9	growing	grow	VERB
ejge-4303	83	10	steadily	steadily	ADV
ejge-4303	83	11	over	over	ADP
ejge-4303	83	12	the	the	DET
ejge-4303	83	13	time	time	NOUN
ejge-4303	83	14	period	period	NOUN
ejge-4303	83	15	analysed	analyse	VERB
ejge-4303	83	16	and	and	CCONJ
ejge-4303	83	17	it	it	PRON
ejge-4303	83	18	could	could	AUX
ejge-4303	83	19	be	be	AUX
ejge-4303	83	20	used	use	VERB
ejge-4303	83	21	as	as	ADP
ejge-4303	83	22	a	a	DET
ejge-4303	83	23	proxy	proxy	NOUN
ejge-4303	83	24	of	of	ADP
ejge-4303	83	25	the	the	DET
ejge-4303	83	26	internal	internal	ADJ
ejge-4303	83	27	solvency	solvency	NOUN
ejge-4303	83	28	of	of	ADP
ejge-4303	83	29	the	the	DET
ejge-4303	83	30	private	private	ADJ
ejge-4303	83	31	sector	sector	NOUN
ejge-4303	83	32	in	in	ADP
ejge-4303	83	33	a	a	DET
ejge-4303	83	34	country	country	NOUN
ejge-4303	83	35	.	.	PUNCT
ejge-4303	84	1	the	the	DET
ejge-4303	84	2	value	value	NOUN
ejge-4303	84	3	of	of	ADP
ejge-4303	84	4	the	the	DET
ejge-4303	84	5	spanish	spanish	ADJ
ejge-4303	84	6	private	private	ADJ
ejge-4303	84	7	debt	debt	NOUN
ejge-4303	84	8	used	use	VERB
ejge-4303	84	9	in	in	ADP
ejge-4303	84	10	this	this	DET
ejge-4303	84	11	research	research	NOUN
ejge-4303	84	12	is	be	AUX
ejge-4303	84	13	the	the	DET
ejge-4303	84	14	result	result	NOUN
ejge-4303	84	15	of	of	ADP
ejge-4303	84	16	adding	add	VERB
ejge-4303	84	17	loans	loan	NOUN
ejge-4303	84	18	to	to	ADP
ejge-4303	84	19	households	household	NOUN
ejge-4303	84	20	and	and	CCONJ
ejge-4303	84	21	non	non	ADJ
ejge-4303	84	22	-	-	ADJ
ejge-4303	84	23	profit	profit	ADJ
ejge-4303	84	24	institutions	institution	NOUN
ejge-4303	84	25	plus	plus	CCONJ
ejge-4303	84	26	loans	loan	NOUN
ejge-4303	84	27	to	to	ADP
ejge-4303	84	28	non	non	ADJ
ejge-4303	84	29	-	-	ADJ
ejge-4303	84	30	financial	financial	ADJ
ejge-4303	84	31	corporations	corporation	NOUN
ejge-4303	84	32	.	.	PUNCT
ejge-4303	85	1	·	·	PUNCT
ejge-4303	85	2	public	public	ADJ
ejge-4303	85	3	debt	debt	NOUN
ejge-4303	85	4	(	(	PUNCT
ejge-4303	85	5	pub_deb	pub_deb	PROPN
ejge-4303	85	6	)	)	PUNCT
ejge-4303	85	7	.	.	PUNCT
ejge-4303	86	1	the	the	DET
ejge-4303	86	2	value	value	NOUN
ejge-4303	86	3	of	of	ADP
ejge-4303	86	4	spanish	spanish	ADJ
ejge-4303	86	5	government	government	NOUN
ejge-4303	86	6	debt	debt	NOUN
ejge-4303	86	7	is	be	AUX
ejge-4303	86	8	the	the	DET
ejge-4303	86	9	result	result	NOUN
ejge-4303	86	10	of	of	ADP
ejge-4303	86	11	adding	add	VERB
ejge-4303	86	12	the	the	DET
ejge-4303	86	13	debt	debt	NOUN
ejge-4303	86	14	of	of	ADP
ejge-4303	86	15	the	the	DET
ejge-4303	86	16	central	central	ADJ
ejge-4303	86	17	government	government	NOUN
ejge-4303	86	18	,	,	PUNCT
ejge-4303	86	19	the	the	DET
ejge-4303	86	20	regional	regional	ADJ
ejge-4303	86	21	governments	government	NOUN
ejge-4303	86	22	,	,	PUNCT
ejge-4303	86	23	the	the	DET
ejge-4303	86	24	social	social	ADJ
ejge-4303	86	25	security	security	NOUN
ejge-4303	86	26	administrations	administration	NOUN
ejge-4303	86	27	and	and	CCONJ
ejge-4303	86	28	the	the	DET
ejge-4303	86	29	local	local	ADJ
ejge-4303	86	30	corporations	corporation	NOUN
ejge-4303	86	31	.	.	PUNCT
ejge-4303	87	1	that	that	ADV
ejge-4303	87	2	is	is	ADV
ejge-4303	87	3	,	,	PUNCT
ejge-4303	87	4	the	the	DET
ejge-4303	87	5	debt	debt	NOUN
ejge-4303	87	6	embodied	embody	VERB
ejge-4303	87	7	in	in	ADP
ejge-4303	87	8	cash	cash	NOUN
ejge-4303	87	9	and	and	CCONJ
ejge-4303	87	10	deposits	deposit	NOUN
ejge-4303	87	11	,	,	PUNCT
ejge-4303	87	12	debt	debt	NOUN
ejge-4303	87	13	securities	security	NOUN
ejge-4303	87	14	and	and	CCONJ
ejge-4303	87	15	loans	loan	NOUN
ejge-4303	87	16	,	,	PUNCT
ejge-4303	87	17	in	in	ADP
ejge-4303	87	18	nominal	nominal	ADJ
ejge-4303	87	19	value	value	NOUN
ejge-4303	87	20	and	and	CCONJ
ejge-4303	87	21	consolidated	consolidated	ADJ
ejge-4303	87	22	.	.	PUNCT
ejge-4303	88	1	this	this	DET
ejge-4303	88	2	series	series	NOUN
ejge-4303	88	3	is	be	AUX
ejge-4303	88	4	relativised	relativise	VERB
ejge-4303	88	5	by	by	ADP
ejge-4303	88	6	the	the	DET
ejge-4303	88	7	spanish	spanish	ADJ
ejge-4303	88	8	gdp	gdp	NOUN
ejge-4303	88	9	series	series	PROPN
ejge-4303	88	10	referenced	reference	VERB
ejge-4303	88	11	in	in	ADP
ejge-4303	88	12	the	the	DET
ejge-4303	88	13	bank	bank	NOUN
ejge-4303	88	14	of	of	ADP
ejge-4303	88	15	spain	spain	PROPN
ejge-4303	88	16	for	for	ADP
ejge-4303	88	17	the	the	DET
ejge-4303	88	18	calculation	calculation	NOUN
ejge-4303	88	19	of	of	ADP
ejge-4303	88	20	public	public	ADJ
ejge-4303	88	21	debt	debt	NOUN
ejge-4303	88	22	following	follow	VERB
ejge-4303	88	23	the	the	DET
ejge-4303	88	24	excessive	excessive	ADJ
ejge-4303	88	25	deficit	deficit	NOUN
ejge-4303	88	26	procedure	procedure	NOUN
ejge-4303	88	27	(	(	PUNCT
ejge-4303	88	28	edp	edp	NOUN
ejge-4303	88	29	)	)	PUNCT
ejge-4303	88	30	.	.	PUNCT
ejge-4303	89	1	·	·	PUNCT
ejge-4303	89	2	borrowing	borrow	VERB
ejge-4303	89	3	capacity	capacity	NOUN
ejge-4303	89	4	(	(	PUNCT
ejge-4303	89	5	bor_cap	bor_cap	NOUN
ejge-4303	89	6	)	)	PUNCT
ejge-4303	89	7	.	.	PUNCT
ejge-4303	90	1	it	it	PRON
ejge-4303	90	2	is	be	AUX
ejge-4303	90	3	the	the	DET
ejge-4303	90	4	sum	sum	NOUN
ejge-4303	90	5	of	of	ADP
ejge-4303	90	6	the	the	DET
ejge-4303	90	7	value	value	NOUN
ejge-4303	90	8	of	of	ADP
ejge-4303	90	9	the	the	DET
ejge-4303	90	10	current	current	ADJ
ejge-4303	90	11	account	account	NOUN
ejge-4303	90	12	balance	balance	NOUN
ejge-4303	90	13	plus	plus	CCONJ
ejge-4303	90	14	the	the	DET
ejge-4303	90	15	capital	capital	NOUN
ejge-4303	90	16	account	account	NOUN
ejge-4303	90	17	balance	balance	NOUN
ejge-4303	90	18	(	(	PUNCT
ejge-4303	90	19	calculated	calculate	VERB
ejge-4303	90	20	on	on	ADP
ejge-4303	90	21	a	a	DET
ejge-4303	90	22	quarterly	quarterly	ADJ
ejge-4303	90	23	basis	basis	NOUN
ejge-4303	90	24	)	)	PUNCT
ejge-4303	90	25	in	in	ADP
ejge-4303	90	26	proportion	proportion	NOUN
ejge-4303	90	27	to	to	ADP
ejge-4303	90	28	gdp	gdp	NOUN
ejge-4303	90	29	.	.	PUNCT
ejge-4303	91	1	this	this	DET
ejge-4303	91	2	ratio	ratio	NOUN
ejge-4303	91	3	has	have	VERB
ejge-4303	91	4	a	a	DET
ejge-4303	91	5	remarkable	remarkable	ADJ
ejge-4303	91	6	economic	economic	ADJ
ejge-4303	91	7	importance	importance	NOUN
ejge-4303	91	8	,	,	PUNCT
ejge-4303	91	9	as	as	SCONJ
ejge-4303	91	10	it	it	PRON
ejge-4303	91	11	measures	measure	VERB
ejge-4303	91	12	in	in	ADP
ejge-4303	91	13	relative	relative	ADJ
ejge-4303	91	14	terms	term	NOUN
ejge-4303	91	15	the	the	DET
ejge-4303	91	16	borrowing	borrowing	NOUN
ejge-4303	91	17	capacity	capacity	NOUN
ejge-4303	91	18	of	of	ADP
ejge-4303	91	19	spain	spain	PROPN
ejge-4303	91	20	in	in	ADP
ejge-4303	91	21	relation	relation	NOUN
ejge-4303	91	22	to	to	ADP
ejge-4303	91	23	other	other	ADJ
ejge-4303	91	24	countries	country	NOUN
ejge-4303	91	25	.	.	PUNCT
ejge-4303	92	1	empirical	empirical	ADJ
ejge-4303	92	2	methodology	methodology	NOUN
ejge-4303	92	3	and	and	CCONJ
ejge-4303	92	4	results	result	VERB
ejge-4303	92	5	description	description	NOUN
ejge-4303	92	6	of	of	ADP
ejge-4303	92	7	method	method	NOUN
ejge-4303	92	8	in	in	ADP
ejge-4303	92	9	an	an	DET
ejge-4303	92	10	auto	auto	NOUN
ejge-4303	92	11	-	-	PUNCT
ejge-4303	92	12	regressive	regressive	ADJ
ejge-4303	92	13	distributed	distribute	VERB
ejge-4303	92	14	lag	lag	NOUN
ejge-4303	92	15	(	(	PUNCT
ejge-4303	92	16	ardl	ardl	NOUN
ejge-4303	92	17	)	)	PUNCT
ejge-4303	92	18	model	model	NOUN
ejge-4303	92	19	,	,	PUNCT
ejge-4303	92	20	the	the	DET
ejge-4303	92	21	variable	variable	NOUN
ejge-4303	92	22	of	of	ADP
ejge-4303	92	23	interest	interest	NOUN
ejge-4303	92	24	is	be	AUX
ejge-4303	92	25	assumed	assume	VERB
ejge-4303	92	26	to	to	PART
ejge-4303	92	27	be	be	AUX
ejge-4303	92	28	a	a	DET
ejge-4303	92	29	function	function	NOUN
ejge-4303	92	30	of	of	ADP
ejge-4303	92	31	the	the	DET
ejge-4303	92	32	past	past	ADJ
ejge-4303	92	33	values	value	NOUN
ejge-4303	92	34	of	of	ADP
ejge-4303	92	35	itself	itself	PRON
ejge-4303	92	36	(	(	PUNCT
ejge-4303	92	37	auto	auto	NOUN
ejge-4303	92	38	-	-	PUNCT
ejge-4303	92	39	regressive	regressive	ADJ
ejge-4303	92	40	)	)	PUNCT
ejge-4303	92	41	and	and	CCONJ
ejge-4303	92	42	the	the	DET
ejge-4303	92	43	current	current	ADJ
ejge-4303	92	44	and	and	CCONJ
ejge-4303	92	45	past	past	ADJ
ejge-4303	92	46	values	value	NOUN
ejge-4303	92	47	of	of	ADP
ejge-4303	92	48	other	other	ADJ
ejge-4303	92	49	variables	variable	NOUN
ejge-4303	92	50	(	(	PUNCT
ejge-4303	92	51	distributed	distribute	VERB
ejge-4303	92	52	lag	lag	NOUN
ejge-4303	92	53	)	)	PUNCT
ejge-4303	92	54	.	.	PUNCT
ejge-4303	93	1	the	the	DET
ejge-4303	93	2	basic	basic	ADJ
ejge-4303	93	3	form	form	NOUN
ejge-4303	93	4	of	of	ADP
ejge-4303	93	5	an	an	DET
ejge-4303	93	6	ardl	ardl	NOUN
ejge-4303	93	7	regression	regression	NOUN
ejge-4303	93	8	model	model	NOUN
ejge-4303	93	9	,	,	PUNCT
ejge-4303	93	10	denoted	denote	VERB
ejge-4303	93	11	ardl	ardl	NOUN
ejge-4303	93	12	(	(	PUNCT
ejge-4303	93	13	p	p	X
ejge-4303	93	14	,	,	PUNCT
ejge-4303	93	15	q	q	NOUN
ejge-4303	93	16	)	)	PUNCT
ejge-4303	93	17	,	,	PUNCT
ejge-4303	93	18	is	be	AUX
ejge-4303	93	19	:	:	PUNCT
ejge-4303	93	20	yt	yt	PROPN
ejge-4303	93	21	=	=	PUNCT
ejge-4303	93	22	β0	β0	PROPN
ejge-4303	93	23	+	+	CCONJ
ejge-4303	93	24	β1	β1	PROPN
ejge-4303	93	25	yt-1	yt-1	ADV
ejge-4303	93	26	+	+	CCONJ
ejge-4303	93	27	…	…	PUNCT
ejge-4303	93	28	+	+	CCONJ
ejge-4303	93	29	βk	βk	VERB
ejge-4303	93	30	yt	yt	NOUN
ejge-4303	93	31	-	-	PUNCT
ejge-4303	93	32	p	p	NOUN
ejge-4303	93	33	+	+	CCONJ
ejge-4303	93	34	α0	α0	PROPN
ejge-4303	93	35	xt	xt	ADP
ejge-4303	94	1	+	+	CCONJ
ejge-4303	94	2	α1	α1	PROPN
ejge-4303	94	3	xt-1	xt-1	PUNCT
ejge-4303	94	4	+	+	CCONJ
ejge-4303	94	5	…	…	PUNCT
ejge-4303	94	6	+	+	CCONJ
ejge-4303	94	7	αq	αq	DET
ejge-4303	94	8	xt	xt	NOUN
ejge-4303	94	9	-	-	NOUN
ejge-4303	94	10	q	q	NOUN
ejge-4303	95	1	+	+	CCONJ
ejge-4303	95	2	εt	εt	PROPN
ejge-4303	95	3	(	(	PUNCT
ejge-4303	95	4	1	1	NUM
ejge-4303	95	5	)	)	PUNCT
ejge-4303	95	6	where	where	SCONJ
ejge-4303	95	7	y	y	PROPN
ejge-4303	95	8	is	be	AUX
ejge-4303	95	9	the	the	DET
ejge-4303	95	10	dependent	dependent	ADJ
ejge-4303	95	11	variable	variable	NOUN
ejge-4303	95	12	,	,	PUNCT
ejge-4303	95	13	x	x	X
ejge-4303	95	14	is	be	AUX
ejge-4303	95	15	an	an	DET
ejge-4303	95	16	explanatory	explanatory	ADJ
ejge-4303	95	17	variable	variable	NOUN
ejge-4303	95	18	and	and	CCONJ
ejge-4303	95	19	εt	εt	PROPN
ejge-4303	95	20	is	be	AUX
ejge-4303	95	21	a	a	DET
ejge-4303	95	22	random	random	ADJ
ejge-4303	95	23	disturbance	disturbance	NOUN
ejge-4303	95	24	term	term	NOUN
ejge-4303	95	25	,	,	PUNCT
ejge-4303	95	26	which	which	PRON
ejge-4303	95	27	we	we	PRON
ejge-4303	95	28	assume	assume	VERB
ejge-4303	95	29	is	be	AUX
ejge-4303	95	30	“	"	PUNCT
ejge-4303	95	31	well	well	ADV
ejge-4303	95	32	-	-	PUNCT
ejge-4303	95	33	behaved	behave	VERB
ejge-4303	95	34	”	"	PUNCT
ejge-4303	95	35	in	in	ADP
ejge-4303	95	36	the	the	DET
ejge-4303	95	37	usual	usual	ADJ
ejge-4303	95	38	sense	sense	NOUN
ejge-4303	95	39	.	.	PUNCT
ejge-4303	96	1	the	the	DET
ejge-4303	96	2	ardl	ardl	NOUN
ejge-4303	96	3	/	/	SYM
ejge-4303	96	4	bounds	bound	NOUN
ejge-4303	96	5	testing	test	VERB
ejge-4303	96	6	methodology	methodology	NOUN
ejge-4303	96	7	of	of	ADP
ejge-4303	96	8	pesaran	pesaran	PROPN
ejge-4303	96	9	et	et	PROPN
ejge-4303	96	10	al	al	PROPN
ejge-4303	96	11	.	.	PROPN
ejge-4303	97	1	(	(	PUNCT
ejge-4303	97	2	2001	2001	NUM
ejge-4303	97	3	)	)	PUNCT
ejge-4303	97	4	has	have	VERB
ejge-4303	97	5	some	some	DET
ejge-4303	97	6	advantages	advantage	NOUN
ejge-4303	97	7	over	over	ADP
ejge-4303	97	8	conventional	conventional	ADJ
ejge-4303	97	9	cointegration	cointegration	NOUN
ejge-4303	97	10	testing	testing	NOUN
ejge-4303	97	11	.	.	PUNCT
ejge-4303	98	1	for	for	ADP
ejge-4303	98	2	instance	instance	NOUN
ejge-4303	98	3	,	,	PUNCT
ejge-4303	98	4	it	it	PRON
ejge-4303	98	5	can	can	AUX
ejge-4303	98	6	be	be	AUX
ejge-4303	98	7	used	use	VERB
ejge-4303	98	8	with	with	ADP
ejge-4303	98	9	a	a	DET
ejge-4303	98	10	mixture	mixture	NOUN
ejge-4303	98	11	of	of	ADP
ejge-4303	98	12	i(0	i(0	PROPN
ejge-4303	98	13	)	)	PUNCT
ejge-4303	98	14	and	and	CCONJ
ejge-4303	98	15	i(1	i(1	PROPN
ejge-4303	98	16	)	)	PUNCT
ejge-4303	98	17	data	datum	NOUN
ejge-4303	98	18	;	;	PUNCT
ejge-4303	98	19	it	it	PRON
ejge-4303	98	20	involves	involve	VERB
ejge-4303	98	21	just	just	ADV
ejge-4303	98	22	a	a	DET
ejge-4303	98	23	single	single	ADJ
ejge-4303	98	24	-	-	PUNCT
ejge-4303	98	25	equation	equation	NOUN
ejge-4303	98	26	setup	setup	NOUN
ejge-4303	98	27	,	,	PUNCT
ejge-4303	98	28	making	make	VERB
ejge-4303	98	29	it	it	PRON
ejge-4303	98	30	simple	simple	ADJ
ejge-4303	98	31	to	to	PART
ejge-4303	98	32	implement	implement	VERB
ejge-4303	98	33	and	and	CCONJ
ejge-4303	98	34	interpret	interpret	VERB
ejge-4303	98	35	;	;	PUNCT
ejge-4303	98	36	different	different	ADJ
ejge-4303	98	37	variables	variable	NOUN
ejge-4303	98	38	can	can	AUX
ejge-4303	98	39	be	be	AUX
ejge-4303	98	40	assigned	assign	VERB
ejge-4303	98	41	different	different	ADJ
ejge-4303	98	42	lag	lag	NOUN
ejge-4303	98	43	lengths	length	NOUN
ejge-4303	98	44	as	as	SCONJ
ejge-4303	98	45	they	they	PRON
ejge-4303	98	46	enter	enter	VERB
ejge-4303	98	47	the	the	DET
ejge-4303	98	48	model	model	NOUN
ejge-4303	98	49	.	.	PUNCT
ejge-4303	99	1	the	the	DET
ejge-4303	99	2	basic	basic	ADJ
ejge-4303	99	3	steps	step	NOUN
ejge-4303	99	4	of	of	ADP
ejge-4303	99	5	this	this	DET
ejge-4303	99	6	method	method	NOUN
ejge-4303	99	7	are	be	AUX
ejge-4303	99	8	the	the	DET
ejge-4303	99	9	following	follow	VERB
ejge-4303	99	10	:	:	PUNCT
ejge-4303	99	11	(	(	PUNCT
ejge-4303	99	12	1	1	X
ejge-4303	99	13	)	)	PUNCT
ejge-4303	99	14	check	check	NOUN
ejge-4303	99	15	that	that	PRON
ejge-4303	99	16	all	all	DET
ejge-4303	99	17	the	the	DET
ejge-4303	99	18	variables	variable	NOUN
ejge-4303	99	19	are	be	AUX
ejge-4303	99	20	not	not	PART
ejge-4303	99	21	i(2	i(2	PROPN
ejge-4303	99	22	)	)	PUNCT
ejge-4303	99	23	;	;	PUNCT
ejge-4303	99	24	(	(	PUNCT
ejge-4303	99	25	2	2	X
ejge-4303	99	26	)	)	PUNCT
ejge-4303	99	27	estimate	estimate	NOUN
ejge-4303	99	28	an	an	DET
ejge-4303	99	29	‘	'	PUNCT
ejge-4303	99	30	unrestricted	unrestricted	ADJ
ejge-4303	99	31	’	'	PUNCT
ejge-4303	99	32	(	(	PUNCT
ejge-4303	99	33	also	also	ADV
ejge-4303	99	34	called	call	VERB
ejge-4303	99	35	‘	'	PUNCT
ejge-4303	99	36	unconstrained	unconstrained	ADJ
ejge-4303	99	37	’	'	PUNCT
ejge-4303	99	38	or	or	CCONJ
ejge-4303	99	39	‘	'	PUNCT
ejge-4303	99	40	conditional	conditional	ADJ
ejge-4303	99	41	’	'	PUNCT
ejge-4303	99	42	)	)	PUNCT
ejge-4303	99	43	error	error	NOUN
ejge-4303	99	44	correction	correction	NOUN
ejge-4303	99	45	model	model	NOUN
ejge-4303	99	46	(	(	PUNCT
ejge-4303	99	47	uecm	uecm	PROPN
ejge-4303	99	48	)	)	PUNCT
ejge-4303	99	49	,	,	PUNCT
ejge-4303	99	50	which	which	PRON
ejge-4303	99	51	is	be	AUX
ejge-4303	99	52	a	a	DET
ejge-4303	99	53	particular	particular	ADJ
ejge-4303	99	54	type	type	NOUN
ejge-4303	99	55	of	of	ADP
ejge-4303	99	56	ardl	ardl	NOUN
ejge-4303	99	57	model	model	NOUN
ejge-4303	99	58	.	.	PUNCT
ejge-4303	100	1	for	for	ADP
ejge-4303	100	2	this	this	PRON
ejge-4303	100	3	,	,	PUNCT
ejge-4303	100	4	we	we	PRON
ejge-4303	100	5	have	have	VERB
ejge-4303	100	6	to	to	PART
ejge-4303	100	7	determine	determine	VERB
ejge-4303	100	8	the	the	DET
ejge-4303	100	9	appropriate	appropriate	ADJ
ejge-4303	100	10	lag	lag	NOUN
ejge-4303	100	11	structure	structure	NOUN
ejge-4303	100	12	,	,	PUNCT
ejge-4303	100	13	applying	apply	VERB
ejge-4303	100	14	an	an	DET
ejge-4303	100	15	adequate	adequate	ADJ
ejge-4303	100	16	criterion	criterion	NOUN
ejge-4303	100	17	(	(	PUNCT
ejge-4303	100	18	r2	r2	PROPN
ejge-4303	100	19	,	,	PUNCT
ejge-4303	100	20	aic	aic	PROPN
ejge-4303	100	21	,	,	PUNCT
ejge-4303	100	22	bic	bic	PROPN
ejge-4303	100	23	,	,	PUNCT
ejge-4303	100	24	hq	hq	NOUN
ejge-4303	100	25	)	)	PUNCT
ejge-4303	100	26	and	and	CCONJ
ejge-4303	100	27	analysing	analyse	VERB
ejge-4303	100	28	the	the	DET
ejge-4303	100	29	behaviour	behaviour	NOUN
ejge-4303	100	30	of	of	ADP
ejge-4303	100	31	the	the	DET
ejge-4303	100	32	results	result	NOUN
ejge-4303	100	33	(	(	PUNCT
ejge-4303	100	34	serially	serially	ADV
ejge-4303	100	35	independent	independent	ADJ
ejge-4303	100	36	errors	error	NOUN
ejge-4303	100	37	,	,	PUNCT
ejge-4303	100	38	dynamic	dynamic	ADJ
ejge-4303	100	39	stability	stability	NOUN
ejge-4303	100	40	…	…	PUNCT
ejge-4303	100	41	)	)	PUNCT
ejge-4303	100	42	;	;	PUNCT
ejge-4303	100	43	(	(	PUNCT
ejge-4303	100	44	3	3	X
ejge-4303	100	45	)	)	PUNCT
ejge-4303	100	46	perform	perform	VERB
ejge-4303	100	47	a	a	DET
ejge-4303	100	48	‘	'	PUNCT
ejge-4303	100	49	bounds	bound	NOUN
ejge-4303	100	50	test	test	NOUN
ejge-4303	100	51	’	'	PUNCT
ejge-4303	100	52	to	to	PART
ejge-4303	100	53	look	look	VERB
ejge-4303	100	54	if	if	SCONJ
ejge-4303	100	55	there	there	PRON
ejge-4303	100	56	is	be	VERB
ejge-4303	100	57	evidence	evidence	NOUN
ejge-4303	100	58	of	of	ADP
ejge-4303	100	59	a	a	DET
ejge-4303	100	60	long	long	ADJ
ejge-4303	100	61	run	run	NOUN
ejge-4303	100	62	relationship	relationship	NOUN
ejge-4303	100	63	between	between	ADP
ejge-4303	100	64	the	the	DET
ejge-4303	100	65	variables	variable	NOUN
ejge-4303	100	66	.	.	PUNCT
ejge-4303	101	1	;	;	PUNCT
ejge-4303	101	2	(	(	PUNCT
ejge-4303	101	3	4	4	X
ejge-4303	101	4	)	)	PUNCT
ejge-4303	101	5	if	if	SCONJ
ejge-4303	101	6	the	the	DET
ejge-4303	101	7	outcome	outcome	NOUN
ejge-4303	101	8	at	at	ADP
ejge-4303	101	9	step	step	NOUN
ejge-4303	101	10	3	3	NUM
ejge-4303	101	11	is	be	AUX
ejge-4303	101	12	affirmative	affirmative	ADJ
ejge-4303	101	13	,	,	PUNCT
ejge-4303	101	14	estimate	estimate	VERB
ejge-4303	101	15	a	a	DET
ejge-4303	101	16	long	long	ADJ
ejge-4303	101	17	run	run	NOUN
ejge-4303	101	18	“	"	PUNCT
ejge-4303	101	19	levels	level	NOUN
ejge-4303	101	20	model	model	NOUN
ejge-4303	101	21	”	"	PUNCT
ejge-4303	101	22	,	,	PUNCT
ejge-4303	101	23	as	as	ADV
ejge-4303	101	24	well	well	ADV
ejge-4303	101	25	as	as	ADP
ejge-4303	101	26	a	a	DET
ejge-4303	101	27	separate	separate	ADJ
ejge-4303	101	28	“	"	PUNCT
ejge-4303	101	29	restricted	restrict	VERB
ejge-4303	101	30	”	"	PUNCT
ejge-4303	101	31	error	error	NOUN
ejge-4303	101	32	correction	correction	NOUN
ejge-4303	101	33	model	model	NOUN
ejge-4303	101	34	(	(	PUNCT
ejge-4303	101	35	ecm	ecm	PROPN
ejge-4303	101	36	)	)	PUNCT
ejge-4303	101	37	;	;	PUNCT
ejge-4303	101	38	(	(	PUNCT
ejge-4303	101	39	5	5	X
ejge-4303	101	40	)	)	PUNCT
ejge-4303	101	41	use	use	VERB
ejge-4303	101	42	the	the	DET
ejge-4303	101	43	results	result	NOUN
ejge-4303	101	44	of	of	ADP
ejge-4303	101	45	the	the	DET
ejge-4303	101	46	model	model	NOUN
ejge-4303	101	47	estimated	estimate	VERB
ejge-4303	101	48	at	at	ADP
ejge-4303	101	49	step	step	NOUN
ejge-4303	101	50	4	4	NUM
ejge-4303	101	51	to	to	PART
ejge-4303	101	52	measure	measure	VERB
ejge-4303	101	53	short	short	ADJ
ejge-4303	101	54	-	-	PUNCT
ejge-4303	101	55	run	run	VERB
ejge-4303	101	56	dynamic	dynamic	ADJ
ejge-4303	101	57	effects	effect	NOUN
ejge-4303	101	58	,	,	PUNCT
ejge-4303	101	59	and	and	CCONJ
ejge-4303	101	60	the	the	DET
ejge-4303	101	61	long	long	ADV
ejge-4303	101	62	-	-	PUNCT
ejge-4303	101	63	run	run	NOUN
ejge-4303	101	64	equilibrating	equilibrate	VERB
ejge-4303	101	65	relationships	relationship	NOUN
ejge-4303	101	66	among	among	ADP
ejge-4303	101	67	the	the	DET
ejge-4303	101	68	variables	variable	NOUN
ejge-4303	101	69	,	,	PUNCT
ejge-4303	101	70	and	and	CCONJ
ejge-4303	101	71	(	(	PUNCT
ejge-4303	101	72	6	6	X
ejge-4303	101	73	)	)	PUNCT
ejge-4303	101	74	analyse	analyse	NOUN
ejge-4303	101	75	the	the	DET
ejge-4303	101	76	granger	granger	PROPN
ejge-4303	101	77	causality	causality	NOUN
ejge-4303	101	78	among	among	ADP
ejge-4303	101	79	variables	variable	NOUN
ejge-4303	101	80	(	(	PUNCT
ejge-4303	101	81	optional	optional	ADJ
ejge-4303	101	82	)	)	PUNCT
ejge-4303	101	83	.	.	PUNCT
ejge-4303	102	1	castellanos	castellanos	PROPN
ejge-4303	102	2	et	et	PROPN
ejge-4303	102	3	al	al	PROPN
ejge-4303	102	4	.	.	PUNCT
ejge-4303	103	1	●	●	PUNCT
ejge-4303	103	2	the	the	DET
ejge-4303	103	3	role	role	NOUN
ejge-4303	103	4	of	of	ADP
ejge-4303	103	5	confidence	confidence	NOUN
ejge-4303	103	6	in	in	ADP
ejge-4303	103	7	the	the	DET
ejge-4303	103	8	evolution	evolution	NOUN
ejge-4303	103	9	of	of	ADP
ejge-4303	103	10	the	the	DET
ejge-4303	103	11	spanish	spanish	ADJ
ejge-4303	103	12	economy	economy	NOUN
ejge-4303	103	13	153	153	NUM
ejge-4303	103	14	unit	unit	NOUN
ejge-4303	103	15	root	root	NOUN
ejge-4303	103	16	tests	test	NOUN
ejge-4303	103	17	taking	take	VERB
ejge-4303	103	18	into	into	ADP
ejge-4303	103	19	account	account	NOUN
ejge-4303	103	20	that	that	SCONJ
ejge-4303	103	21	only	only	ADV
ejge-4303	103	22	i(0	i(0	PROPN
ejge-4303	103	23	)	)	PUNCT
ejge-4303	103	24	and	and	CCONJ
ejge-4303	103	25	i(1	i(1	PROPN
ejge-4303	103	26	)	)	PUNCT
ejge-4303	103	27	variables	variable	NOUN
ejge-4303	103	28	can	can	AUX
ejge-4303	103	29	be	be	AUX
ejge-4303	103	30	included	include	VERB
ejge-4303	103	31	in	in	ADP
ejge-4303	103	32	an	an	DET
ejge-4303	103	33	ardl	ardl	NOUN
ejge-4303	103	34	model	model	NOUN
ejge-4303	103	35	reflecting	reflect	VERB
ejge-4303	103	36	the	the	DET
ejge-4303	103	37	relationships	relationship	NOUN
ejge-4303	103	38	between	between	ADP
ejge-4303	103	39	confidence	confidence	NOUN
ejge-4303	103	40	and	and	CCONJ
ejge-4303	103	41	some	some	PRON
ejge-4303	103	42	of	of	ADP
ejge-4303	103	43	the	the	DET
ejge-4303	103	44	fundamentals	fundamental	NOUN
ejge-4303	103	45	of	of	ADP
ejge-4303	103	46	the	the	DET
ejge-4303	103	47	spanish	spanish	ADJ
ejge-4303	103	48	economy	economy	NOUN
ejge-4303	103	49	,	,	PUNCT
ejge-4303	103	50	unit	unit	NOUN
ejge-4303	103	51	root	root	NOUN
ejge-4303	103	52	tests	test	NOUN
ejge-4303	103	53	are	be	AUX
ejge-4303	103	54	performed	perform	VERB
ejge-4303	103	55	.	.	PUNCT
ejge-4303	104	1	in	in	ADP
ejge-4303	104	2	this	this	DET
ejge-4303	104	3	sense	sense	NOUN
ejge-4303	104	4	perez	perez	PROPN
ejge-4303	104	5	et	et	PROPN
ejge-4303	104	6	al	al	PROPN
ejge-4303	104	7	(	(	PUNCT
ejge-4303	104	8	2013	2013	NUM
ejge-4303	104	9	)	)	PUNCT
ejge-4303	104	10	provide	provide	VERB
ejge-4303	104	11	evidence	evidence	NOUN
ejge-4303	104	12	of	of	ADP
ejge-4303	104	13	the	the	DET
ejge-4303	104	14	existence	existence	NOUN
ejge-4303	104	15	of	of	ADP
ejge-4303	104	16	a	a	DET
ejge-4303	104	17	unit	unit	NOUN
ejge-4303	104	18	root	root	NOUN
ejge-4303	104	19	for	for	ADP
ejge-4303	104	20	variables	variable	NOUN
ejge-4303	104	21	such	such	ADJ
ejge-4303	104	22	as	as	ADP
ejge-4303	104	23	public	public	ADJ
ejge-4303	104	24	debt	debt	NOUN
ejge-4303	104	25	/	/	SYM
ejge-4303	104	26	gdp	gdp	NOUN
ejge-4303	104	27	,	,	PUNCT
ejge-4303	104	28	private	private	ADJ
ejge-4303	104	29	debt	debt	NOUN
ejge-4303	104	30	/	/	SYM
ejge-4303	104	31	gdp	gdp	NOUN
ejge-4303	104	32	,	,	PUNCT
ejge-4303	104	33	inflation	inflation	NOUN
ejge-4303	104	34	rate	rate	NOUN
ejge-4303	104	35	,	,	PUNCT
ejge-4303	104	36	unemployment	unemployment	NOUN
ejge-4303	104	37	rate	rate	NOUN
ejge-4303	104	38	,	,	PUNCT
ejge-4303	104	39	borrowing	borrow	VERB
ejge-4303	104	40	capacity	capacity	NOUN
ejge-4303	104	41	/	/	SYM
ejge-4303	104	42	gdp	gdp	NOUN
ejge-4303	104	43	and	and	CCONJ
ejge-4303	104	44	spain	spain	PROPN
ejge-4303	104	45	vs	vs	ADP
ejge-4303	104	46	german	german	ADJ
ejge-4303	104	47	yield	yield	NOUN
ejge-4303	104	48	debt	debt	NOUN
ejge-4303	104	49	spread	spread	NOUN
ejge-4303	104	50	.	.	PUNCT
ejge-4303	105	1	in	in	ADP
ejge-4303	105	2	this	this	DET
ejge-4303	105	3	paper	paper	NOUN
ejge-4303	105	4	we	we	PRON
ejge-4303	105	5	complete	complete	VERB
ejge-4303	105	6	the	the	DET
ejge-4303	105	7	analysis	analysis	NOUN
ejge-4303	105	8	developing	develop	VERB
ejge-4303	105	9	unit	unit	NOUN
ejge-4303	105	10	root	root	NOUN
ejge-4303	105	11	tests	test	NOUN
ejge-4303	105	12	to	to	PART
ejge-4303	105	13	check	check	VERB
ejge-4303	105	14	the	the	DET
ejge-4303	105	15	order	order	NOUN
ejge-4303	105	16	of	of	ADP
ejge-4303	105	17	integration	integration	NOUN
ejge-4303	105	18	of	of	ADP
ejge-4303	105	19	esi_sp	esi_sp	PROPN
ejge-4303	105	20	and	and	CCONJ
ejge-4303	105	21	the	the	DET
ejge-4303	105	22	vix	vix	PROPN
ejge-4303	105	23	.	.	PUNCT
ejge-4303	106	1	according	accord	VERB
ejge-4303	106	2	to	to	ADP
ejge-4303	106	3	the	the	DET
ejge-4303	106	4	results	result	NOUN
ejge-4303	106	5	of	of	ADP
ejge-4303	106	6	unit	unit	NOUN
ejge-4303	106	7	root	root	NOUN
ejge-4303	106	8	tests	test	NOUN
ejge-4303	106	9	,	,	PUNCT
ejge-4303	106	10	esi_sp	esi_sp	PROPN
ejge-4303	106	11	and	and	CCONJ
ejge-4303	106	12	vix	vix	PROPN
ejge-4303	106	13	are	be	AUX
ejge-4303	106	14	stationary	stationary	ADJ
ejge-4303	106	15	variables	variable	NOUN
ejge-4303	106	16	(	(	PUNCT
ejge-4303	106	17	table	table	NOUN
ejge-4303	106	18	2	2	NUM
ejge-4303	106	19	)	)	PUNCT
ejge-4303	106	20	.	.	PUNCT
ejge-4303	107	1	table	table	NOUN
ejge-4303	108	1	2	2	NUM
ejge-4303	108	2	.	.	PUNCT
ejge-4303	108	3	results	result	NOUN
ejge-4303	108	4	of	of	ADP
ejge-4303	108	5	unit	unit	NOUN
ejge-4303	108	6	root	root	NOUN
ejge-4303	108	7	tests	test	VERB
ejge-4303	108	8	variable	variable	ADJ
ejge-4303	108	9	s	s	PART
ejge-4303	108	10	adf	adf	NOUN
ejge-4303	108	11	test	test	NOUN
ejge-4303	108	12	pp	pp	ADP
ejge-4303	108	13	test	test	NOUN
ejge-4303	108	14	kpss	kpss	PROPN
ejge-4303	108	15	test	test	NOUN
ejge-4303	108	16	tests	test	NOUN
ejge-4303	108	17	with	with	ADP
ejge-4303	108	18	breaks	break	NOUN
ejge-4303	108	19	additive	additive	ADJ
ejge-4303	108	20	outlier	outlier	NOUN
ejge-4303	108	21	innovative	innovative	ADJ
ejge-4303	108	22	outlier	outlier	NOUN
ejge-4303	108	23	esi_sp	esi_sp	X
ejge-4303	109	1	not	not	PART
ejge-4303	109	2	stationary	stationary	VERB
ejge-4303	109	3	not	not	PART
ejge-4303	109	4	stationary	stationary	ADJ
ejge-4303	109	5	stationary	stationary	ADJ
ejge-4303	109	6	stationary	stationary	ADJ
ejge-4303	109	7	stationary	stationary	ADJ
ejge-4303	109	8	outliers	outlier	NOUN
ejge-4303	109	9	:	:	PUNCT
ejge-4303	109	10	1q95	1q95	X
ejge-4303	109	11	,	,	PUNCT
ejge-4303	109	12	2q09	2q09	NUM
ejge-4303	109	13	outliers	outlier	NOUN
ejge-4303	109	14	:	:	PUNCT
ejge-4303	109	15	2q93	2q93	NUM
ejge-4303	109	16	,	,	PUNCT
ejge-4303	109	17	2q07	2q07	NUM
ejge-4303	109	18	desi_sp	desi_sp	VERB
ejge-4303	109	19	stationary	stationary	ADJ
ejge-4303	109	20	stationary	stationary	ADJ
ejge-4303	109	21	stationary	stationary	NOUN
ejge-4303	109	22	no	no	DET
ejge-4303	109	23	outliers	outlier	NOUN
ejge-4303	109	24	stationary	stationary	ADJ
ejge-4303	109	25	outliers	outlier	NOUN
ejge-4303	109	26	:	:	PUNCT
ejge-4303	109	27	2q07	2q07	NUM
ejge-4303	109	28	,	,	PUNCT
ejge-4303	109	29	3q08	3q08	NUM
ejge-4303	109	30	vix	vix	PROPN
ejge-4303	109	31	stationary	stationary	ADJ
ejge-4303	109	32	stationary	stationary	PROPN
ejge-4303	109	33	stationary	stationary	ADJ
ejge-4303	109	34	non	non	ADJ
ejge-4303	109	35	-	-	ADJ
ejge-4303	109	36	stationary	stationary	ADJ
ejge-4303	109	37	no	no	DET
ejge-4303	109	38	outliers	outlier	NOUN
ejge-4303	109	39	outlier	outlier	NOUN
ejge-4303	109	40	:	:	PUNCT
ejge-4303	109	41	2q08	2q08	NUM
ejge-4303	109	42	ho	ho	NOUN
ejge-4303	109	43	:	:	PUNCT
ejge-4303	109	44	existence	existence	NOUN
ejge-4303	109	45	of	of	ADP
ejge-4303	109	46	a	a	DET
ejge-4303	109	47	unit	unit	NOUN
ejge-4303	109	48	root	root	NOUN
ejge-4303	109	49	except	except	SCONJ
ejge-4303	109	50	kpss	kpss	PROPN
ejge-4303	109	51	(	(	PUNCT
ejge-4303	109	52	h1	h1	PROPN
ejge-4303	109	53	is	be	AUX
ejge-4303	109	54	the	the	DET
ejge-4303	109	55	existence	existence	NOUN
ejge-4303	109	56	of	of	ADP
ejge-4303	109	57	unit	unit	NOUN
ejge-4303	109	58	root	root	NOUN
ejge-4303	109	59	)	)	PUNCT
ejge-4303	109	60	.	.	PUNCT
ejge-4303	110	1	level	level	NOUN
ejge-4303	110	2	of	of	ADP
ejge-4303	110	3	significance	significance	NOUN
ejge-4303	110	4	=	=	SYM
ejge-4303	110	5	5	5	NUM
ejge-4303	110	6	%	%	NOUN
ejge-4303	110	7	.	.	PUNCT
ejge-4303	111	1	bic	bic	NOUN
ejge-4303	111	2	criterion	criterion	NOUN
ejge-4303	111	3	in	in	ADP
ejge-4303	111	4	the	the	DET
ejge-4303	111	5	adf	adf	PROPN
ejge-4303	111	6	test	test	NOUN
ejge-4303	111	7	.	.	PUNCT
ejge-4303	112	1	more	more	ADV
ejge-4303	112	2	specifically	specifically	ADV
ejge-4303	112	3	,	,	PUNCT
ejge-4303	112	4	augmented	augment	VERB
ejge-4303	112	5	dickey	dickey	NOUN
ejge-4303	112	6	-	-	PUNCT
ejge-4303	112	7	fuller	full	ADJ
ejge-4303	112	8	(	(	PUNCT
ejge-4303	112	9	adf	adf	NOUN
ejge-4303	112	10	)	)	PUNCT
ejge-4303	112	11	,	,	PUNCT
ejge-4303	112	12	phillips	phillips	PROPN
ejge-4303	112	13	-	-	PUNCT
ejge-4303	112	14	perron	perron	PROPN
ejge-4303	112	15	(	(	PUNCT
ejge-4303	112	16	pp	pp	PROPN
ejge-4303	112	17	)	)	PUNCT
ejge-4303	112	18	and	and	CCONJ
ejge-4303	112	19	kwiatkowski	kwiatkowski	PROPN
ejge-4303	112	20	-	-	PUNCT
ejge-4303	112	21	phillips	phillip	NOUN
ejge-4303	112	22	-	-	PUNCT
ejge-4303	112	23	schmidt	schmidt	ADJ
ejge-4303	112	24	-	-	PUNCT
ejge-4303	112	25	shin	shin	NOUN
ejge-4303	112	26	(	(	PUNCT
ejge-4303	112	27	kpss	kpss	PROPN
ejge-4303	112	28	)	)	PUNCT
ejge-4303	112	29	tests	test	NOUN
ejge-4303	112	30	results	result	NOUN
ejge-4303	112	31	clearly	clearly	ADV
ejge-4303	112	32	show	show	VERB
ejge-4303	112	33	that	that	SCONJ
ejge-4303	112	34	the	the	DET
ejge-4303	112	35	vix	vix	NOUN
ejge-4303	112	36	is	be	AUX
ejge-4303	112	37	a	a	DET
ejge-4303	112	38	stationary	stationary	ADJ
ejge-4303	112	39	variable	variable	NOUN
ejge-4303	112	40	.	.	PUNCT
ejge-4303	113	1	in	in	ADP
ejge-4303	113	2	relation	relation	NOUN
ejge-4303	113	3	to	to	ADP
ejge-4303	113	4	esi_sp	esi_sp	PROPN
ejge-4303	113	5	,	,	PUNCT
ejge-4303	113	6	although	although	SCONJ
ejge-4303	113	7	adf	adf	PROPN
ejge-4303	113	8	and	and	CCONJ
ejge-4303	113	9	pp	pp	PROPN
ejge-4303	113	10	tests	test	NOUN
ejge-4303	113	11	identify	identify	VERB
ejge-4303	113	12	this	this	DET
ejge-4303	113	13	variable	variable	NOUN
ejge-4303	113	14	as	as	ADP
ejge-4303	113	15	i(1	i(1	PROPN
ejge-4303	113	16	)	)	PUNCT
ejge-4303	113	17	,	,	PUNCT
ejge-4303	113	18	unit	unit	NOUN
ejge-4303	113	19	root	root	NOUN
ejge-4303	113	20	with	with	ADP
ejge-4303	113	21	structural	structural	ADJ
ejge-4303	113	22	breaks	break	NOUN
ejge-4303	113	23	tests	test	NOUN
ejge-4303	113	24	reveal	reveal	VERB
ejge-4303	113	25	that	that	SCONJ
ejge-4303	113	26	i(0	i(0	PROPN
ejge-4303	113	27	)	)	PUNCT
ejge-4303	113	28	would	would	AUX
ejge-4303	113	29	be	be	AUX
ejge-4303	113	30	its	its	PRON
ejge-4303	113	31	correct	correct	ADJ
ejge-4303	113	32	order	order	NOUN
ejge-4303	113	33	of	of	ADP
ejge-4303	113	34	integration	integration	NOUN
ejge-4303	113	35	.	.	PUNCT
ejge-4303	114	1	details	detail	NOUN
ejge-4303	114	2	of	of	ADP
ejge-4303	114	3	the	the	DET
ejge-4303	114	4	procedures	procedure	NOUN
ejge-4303	114	5	and	and	CCONJ
ejge-4303	114	6	tests	test	NOUN
ejge-4303	114	7	performed	perform	VERB
ejge-4303	114	8	can	can	AUX
ejge-4303	114	9	be	be	AUX
ejge-4303	114	10	obtained	obtain	VERB
ejge-4303	114	11	at	at	ADP
ejge-4303	114	12	perez	perez	PROPN
ejge-4303	114	13	et	et	PROPN
ejge-4303	114	14	al	al	PROPN
ejge-4303	114	15	(	(	PUNCT
ejge-4303	114	16	2013	2013	NUM
ejge-4303	114	17	)	)	PUNCT
ejge-4303	114	18	.	.	PUNCT
ejge-4303	115	1	pss	pss	PROPN
ejge-4303	115	2	test	test	NOUN
ejge-4303	115	3	results	result	NOUN
ejge-4303	115	4	.	.	PUNCT
ejge-4303	116	1	bound	bind	VERB
ejge-4303	116	2	or	or	CCONJ
ejge-4303	116	3	pesaran	pesaran	VERB
ejge-4303	116	4	,	,	PUNCT
ejge-4303	116	5	shin	shin	NOUN
ejge-4303	116	6	and	and	CCONJ
ejge-4303	116	7	smith	smith	PROPN
ejge-4303	116	8	(	(	PUNCT
ejge-4303	116	9	pss	pss	PROPN
ejge-4303	116	10	)	)	PUNCT
ejge-4303	116	11	tests	test	NOUN
ejge-4303	116	12	are	be	AUX
ejge-4303	116	13	conducted	conduct	VERB
ejge-4303	116	14	with	with	ADP
ejge-4303	116	15	the	the	DET
ejge-4303	116	16	aim	aim	NOUN
ejge-4303	116	17	of	of	ADP
ejge-4303	116	18	establishing	establish	VERB
ejge-4303	116	19	whether	whether	SCONJ
ejge-4303	116	20	the	the	DET
ejge-4303	116	21	variables	variable	NOUN
ejge-4303	116	22	incorporated	incorporate	VERB
ejge-4303	116	23	in	in	ADP
ejge-4303	116	24	the	the	DET
ejge-4303	116	25	model	model	NOUN
ejge-4303	116	26	have	have	VERB
ejge-4303	116	27	to	to	PART
ejge-4303	116	28	be	be	AUX
ejge-4303	116	29	considered	consider	VERB
ejge-4303	116	30	as	as	ADP
ejge-4303	116	31	exogenous	exogenous	ADJ
ejge-4303	116	32	or	or	CCONJ
ejge-4303	116	33	endogenous	endogenous	ADJ
ejge-4303	116	34	.	.	PUNCT
ejge-4303	117	1	the	the	DET
ejge-4303	117	2	abovementioned	abovementione	VERB
ejge-4303	117	3	results	result	NOUN
ejge-4303	117	4	of	of	ADP
ejge-4303	117	5	unit	unit	NOUN
ejge-4303	117	6	root	root	NOUN
ejge-4303	117	7	tests	test	NOUN
ejge-4303	117	8	allow	allow	VERB
ejge-4303	117	9	us	we	PRON
ejge-4303	117	10	to	to	PART
ejge-4303	117	11	claim	claim	VERB
ejge-4303	117	12	that	that	SCONJ
ejge-4303	117	13	all	all	DET
ejge-4303	117	14	the	the	DET
ejge-4303	117	15	considered	considered	ADJ
ejge-4303	117	16	variables	variable	NOUN
ejge-4303	117	17	meet	meet	VERB
ejge-4303	117	18	the	the	DET
ejge-4303	117	19	requirements	requirement	NOUN
ejge-4303	117	20	for	for	ADP
ejge-4303	117	21	their	their	PRON
ejge-4303	117	22	inclusion	inclusion	NOUN
ejge-4303	117	23	in	in	ADP
ejge-4303	117	24	a	a	DET
ejge-4303	117	25	bound	bind	VERB
ejge-4303	117	26	test	test	NOUN
ejge-4303	117	27	.	.	PUNCT
ejge-4303	118	1	these	these	DET
ejge-4303	118	2	tests	test	NOUN
ejge-4303	118	3	are	be	AUX
ejge-4303	118	4	implemented	implement	VERB
ejge-4303	118	5	making	make	VERB
ejge-4303	118	6	use	use	NOUN
ejge-4303	118	7	of	of	ADP
ejge-4303	118	8	relevant	relevant	ADJ
ejge-4303	118	9	alternative	alternative	ADJ
ejge-4303	118	10	statistics	statistic	NOUN
ejge-4303	118	11	f	f	PROPN
ejge-4303	118	12	and	and	CCONJ
ejge-4303	118	13	t	t	PROPN
ejge-4303	118	14	and	and	CCONJ
ejge-4303	118	15	considering	consider	VERB
ejge-4303	118	16	a	a	DET
ejge-4303	118	17	maximum	maximum	NOUN
ejge-4303	118	18	of	of	ADP
ejge-4303	118	19	four	four	NUM
ejge-4303	118	20	lags	lag	NOUN
ejge-4303	118	21	(	(	PUNCT
ejge-4303	118	22	pesaran	pesaran	ADJ
ejge-4303	118	23	and	and	CCONJ
ejge-4303	118	24	pesaran	pesaran	VERB
ejge-4303	118	25	,	,	PUNCT
ejge-4303	118	26	1997	1997	NUM
ejge-4303	118	27	)	)	PUNCT
ejge-4303	118	28	.	.	PUNCT
ejge-4303	119	1	the	the	DET
ejge-4303	119	2	variables	variable	NOUN
ejge-4303	119	3	considered	consider	VERB
ejge-4303	119	4	in	in	ADP
ejge-4303	119	5	the	the	DET
ejge-4303	119	6	implementation	implementation	NOUN
ejge-4303	119	7	of	of	ADP
ejge-4303	119	8	f	f	PROPN
ejge-4303	119	9	and	and	CCONJ
ejge-4303	119	10	t	t	PROPN
ejge-4303	119	11	tests	test	NOUN
ejge-4303	119	12	are	be	AUX
ejge-4303	119	13	private	private	ADJ
ejge-4303	119	14	debt	debt	NOUN
ejge-4303	119	15	/	/	SYM
ejge-4303	119	16	gdp	gdp	NOUN
ejge-4303	119	17	(	(	PUNCT
ejge-4303	119	18	pri_deb	pri_deb	PROPN
ejge-4303	119	19	)	)	PUNCT
ejge-4303	119	20	,	,	PUNCT
ejge-4303	119	21	public	public	ADJ
ejge-4303	119	22	debt	debt	NOUN
ejge-4303	119	23	/	/	SYM
ejge-4303	119	24	gdp	gdp	NOUN
ejge-4303	119	25	(	(	PUNCT
ejge-4303	119	26	pub_deb	pub_deb	PROPN
ejge-4303	119	27	)	)	PUNCT
ejge-4303	119	28	,	,	PUNCT
ejge-4303	119	29	esi	esi	PROPN
ejge-4303	119	30	spain	spain	PROPN
ejge-4303	119	31	(	(	PUNCT
ejge-4303	119	32	esi_sp	esi_sp	PROPN
ejge-4303	119	33	)	)	PUNCT
ejge-4303	119	34	,	,	PUNCT
ejge-4303	119	35	inflation	inflation	NOUN
ejge-4303	119	36	(	(	PUNCT
ejge-4303	119	37	inf	inf	NOUN
ejge-4303	119	38	)	)	PUNCT
ejge-4303	119	39	,	,	PUNCT
ejge-4303	119	40	unemployment	unemployment	NOUN
ejge-4303	119	41	rate	rate	NOUN
ejge-4303	119	42	(	(	PUNCT
ejge-4303	119	43	des	des	PROPN
ejge-4303	119	44	)	)	PUNCT
ejge-4303	119	45	,	,	PUNCT
ejge-4303	119	46	risk	risk	NOUN
ejge-4303	119	47	premium	premium	NOUN
ejge-4303	119	48	(	(	PUNCT
ejge-4303	119	49	spr	spr	INTJ
ejge-4303	119	50	)	)	PUNCT
ejge-4303	119	51	,	,	PUNCT
ejge-4303	119	52	borrowing	borrow	VERB
ejge-4303	119	53	capacity	capacity	NOUN
ejge-4303	119	54	/	/	SYM
ejge-4303	119	55	gdp	gdp	NOUN
ejge-4303	119	56	(	(	PUNCT
ejge-4303	119	57	bor_cap	bor_cap	NOUN
ejge-4303	119	58	)	)	PUNCT
ejge-4303	119	59	and	and	CCONJ
ejge-4303	119	60	vix	vix	PROPN
ejge-4303	119	61	(	(	PUNCT
ejge-4303	119	62	vix	vix	PROPN
ejge-4303	119	63	)	)	PUNCT
ejge-4303	119	64	.	.	PUNCT
ejge-4303	120	1	pss	pss	PROPN
ejge-4303	120	2	test	test	NOUN
ejge-4303	120	3	results	result	NOUN
ejge-4303	120	4	are	be	AUX
ejge-4303	120	5	reported	report	VERB
ejge-4303	120	6	in	in	ADP
ejge-4303	120	7	table	table	NOUN
ejge-4303	120	8	3	3	NUM
ejge-4303	120	9	considering	consider	VERB
ejge-4303	120	10	each	each	PRON
ejge-4303	120	11	of	of	ADP
ejge-4303	120	12	the	the	DET
ejge-4303	120	13	variables	variable	NOUN
ejge-4303	120	14	as	as	ADP
ejge-4303	120	15	the	the	DET
ejge-4303	120	16	dependent	dependent	ADJ
ejge-4303	120	17	variable	variable	NOUN
ejge-4303	120	18	and	and	CCONJ
ejge-4303	120	19	the	the	DET
ejge-4303	120	20	other	other	ADJ
ejge-4303	120	21	ones	one	NOUN
ejge-4303	120	22	,	,	PUNCT
ejge-4303	120	23	as	as	ADP
ejge-4303	120	24	regressors	regressor	NOUN
ejge-4303	120	25	.	.	PUNCT
ejge-4303	121	1	european	european	ADJ
ejge-4303	121	2	journal	journal	PROPN
ejge-4303	121	3	of	of	ADP
ejge-4303	121	4	government	government	NOUN
ejge-4303	121	5	and	and	CCONJ
ejge-4303	121	6	economics	economic	NOUN
ejge-4303	121	7	3(2	3(2	NUM
ejge-4303	121	8	)	)	PUNCT
ejge-4303	121	9	154	154	NUM
ejge-4303	121	10	table	table	NOUN
ejge-4303	121	11	3	3	NUM
ejge-4303	121	12	.	.	PUNCT
ejge-4303	121	13	results	result	NOUN
ejge-4303	121	14	of	of	ADP
ejge-4303	121	15	bound	bind	VERB
ejge-4303	121	16	tests	test	NOUN
ejge-4303	121	17	or	or	CCONJ
ejge-4303	121	18	pss	pss	PROPN
ejge-4303	121	19	dependent	dependent	ADJ
ejge-4303	121	20	variable	variable	NOUN
ejge-4303	121	21	of	of	ADP
ejge-4303	121	22	the	the	DET
ejge-4303	121	23	model	model	NOUN
ejge-4303	121	24	regressors	regressor	NOUN
ejge-4303	121	25	of	of	ADP
ejge-4303	121	26	the	the	DET
ejge-4303	121	27	model	model	NOUN
ejge-4303	121	28	f	f	PROPN
ejge-4303	121	29	test	test	PROPN
ejge-4303	121	30	t	t	PROPN
ejge-4303	121	31	test	test	NOUN
ejge-4303	121	32	pri_deb	pri_deb	ADV
ejge-4303	121	33	pub_deb	pub_deb	PROPN
ejge-4303	121	34	,	,	PUNCT
ejge-4303	121	35	esi_sp	esi_sp	PROPN
ejge-4303	121	36	,	,	PUNCT
ejge-4303	121	37	inf	inf	PROPN
ejge-4303	121	38	,	,	PUNCT
ejge-4303	121	39	unem	unem	PROPN
ejge-4303	121	40	,	,	PUNCT
ejge-4303	121	41	spr	spr	INTJ
ejge-4303	121	42	,	,	PUNCT
ejge-4303	121	43	bor_cap	bor_cap	NOUN
ejge-4303	121	44	,	,	PUNCT
ejge-4303	121	45	vix	vix	PROPN
ejge-4303	121	46	1.6684	1.6684	NUM
ejge-4303	122	1	pub_deb	pub_deb	ADV
ejge-4303	122	2	pri_deb	pri_deb	PROPN
ejge-4303	122	3	,	,	PUNCT
ejge-4303	122	4	esi_sp	esi_sp	PROPN
ejge-4303	122	5	,	,	PUNCT
ejge-4303	122	6	inf	inf	PROPN
ejge-4303	122	7	,	,	PUNCT
ejge-4303	122	8	unem	unem	PROPN
ejge-4303	122	9	,	,	PUNCT
ejge-4303	122	10	spr	spr	INTJ
ejge-4303	122	11	,	,	PUNCT
ejge-4303	122	12	bor_cap	bor_cap	NOUN
ejge-4303	122	13	,	,	PUNCT
ejge-4303	122	14	vix	vix	PROPN
ejge-4303	122	15	4.2775	4.2775	NUM
ejge-4303	122	16	esi_sp	esi_sp	X
ejge-4303	123	1	pri_deb	pri_deb	ADV
ejge-4303	123	2	,	,	PUNCT
ejge-4303	123	3	pub_deb	pub_deb	PROPN
ejge-4303	123	4	,	,	PUNCT
ejge-4303	123	5	inf	inf	PROPN
ejge-4303	123	6	,	,	PUNCT
ejge-4303	123	7	unem	unem	PROPN
ejge-4303	123	8	,	,	PUNCT
ejge-4303	123	9	spr	spr	INTJ
ejge-4303	123	10	,	,	PUNCT
ejge-4303	123	11	bor_cap	bor_cap	NOUN
ejge-4303	123	12	,	,	PUNCT
ejge-4303	123	13	vix	vix	PROPN
ejge-4303	123	14	2.3978	2.3978	NUM
ejge-4303	123	15	-1.9748	-1.9748	PROPN
ejge-4303	123	16	inf	inf	NOUN
ejge-4303	123	17	pri_deb	pri_deb	NOUN
ejge-4303	123	18	,	,	PUNCT
ejge-4303	123	19	pub_deb	pub_deb	PROPN
ejge-4303	123	20	,	,	PUNCT
ejge-4303	123	21	esi_sp	esi_sp	PROPN
ejge-4303	123	22	,	,	PUNCT
ejge-4303	123	23	unem	unem	PROPN
ejge-4303	123	24	,	,	PUNCT
ejge-4303	123	25	spr	spr	INTJ
ejge-4303	123	26	,	,	PUNCT
ejge-4303	123	27	bor_cap	bor_cap	NOUN
ejge-4303	123	28	,	,	PUNCT
ejge-4303	123	29	vix	vix	PROPN
ejge-4303	123	30	1.6891	1.6891	NUM
ejge-4303	123	31	unem	unem	PROPN
ejge-4303	123	32	pri_deb	pri_deb	NOUN
ejge-4303	123	33	,	,	PUNCT
ejge-4303	123	34	pub_deb	pub_deb	PROPN
ejge-4303	123	35	,	,	PUNCT
ejge-4303	123	36	esi_sp	esi_sp	PROPN
ejge-4303	123	37	,	,	PUNCT
ejge-4303	123	38	inf	inf	PROPN
ejge-4303	123	39	,	,	PUNCT
ejge-4303	123	40	spr	spr	INTJ
ejge-4303	123	41	,	,	PUNCT
ejge-4303	123	42	bor_cap	bor_cap	NOUN
ejge-4303	123	43	,	,	PUNCT
ejge-4303	123	44	vix	vix	PROPN
ejge-4303	123	45	4.8347	4.8347	NUM
ejge-4303	123	46	spr	spr	INTJ
ejge-4303	124	1	pri_deb	pri_deb	ADV
ejge-4303	124	2	,	,	PUNCT
ejge-4303	124	3	pub_deb	pub_deb	PROPN
ejge-4303	124	4	,	,	PUNCT
ejge-4303	124	5	esi_sp	esi_sp	PROPN
ejge-4303	124	6	,	,	PUNCT
ejge-4303	124	7	inf	inf	PROPN
ejge-4303	124	8	,	,	PUNCT
ejge-4303	124	9	unem	unem	ADJ
ejge-4303	124	10	,	,	PUNCT
ejge-4303	124	11	bor_cap	bor_cap	NOUN
ejge-4303	124	12	,	,	PUNCT
ejge-4303	124	13	vix	vix	PROPN
ejge-4303	124	14	3.6413	3.6413	NUM
ejge-4303	124	15	-1.9827	-1.9827	NOUN
ejge-4303	124	16	bor_cap	bor_cap	ADP
ejge-4303	124	17	pri_deb	pri_deb	ADV
ejge-4303	124	18	,	,	PUNCT
ejge-4303	124	19	pub_deb	pub_deb	PROPN
ejge-4303	124	20	,	,	PUNCT
ejge-4303	124	21	esi_sp	esi_sp	PROPN
ejge-4303	124	22	,	,	PUNCT
ejge-4303	124	23	inf	inf	PROPN
ejge-4303	124	24	,	,	PUNCT
ejge-4303	124	25	unem	unem	PROPN
ejge-4303	124	26	,	,	PUNCT
ejge-4303	124	27	spr	spr	PROPN
ejge-4303	124	28	,	,	PUNCT
ejge-4303	124	29	vix	vix	PROPN
ejge-4303	124	30	1.4470	1.4470	NUM
ejge-4303	124	31	vix	vix	NOUN
ejge-4303	124	32	pri_deb	pri_deb	ADV
ejge-4303	124	33	,	,	PUNCT
ejge-4303	124	34	pub_deb	pub_deb	PROPN
ejge-4303	124	35	,	,	PUNCT
ejge-4303	124	36	esi_sp	esi_sp	PROPN
ejge-4303	124	37	,	,	PUNCT
ejge-4303	124	38	inf	inf	PROPN
ejge-4303	124	39	,	,	PUNCT
ejge-4303	124	40	unem	unem	PROPN
ejge-4303	124	41	,	,	PUNCT
ejge-4303	124	42	spr	spr	INTJ
ejge-4303	124	43	,	,	PUNCT
ejge-4303	124	44	bor_cap	bor_cap	VERB
ejge-4303	124	45	5.0427	5.0427	NUM
ejge-4303	124	46	critical	critical	ADJ
ejge-4303	124	47	values	value	NOUN
ejge-4303	124	48	pesaran	pesaran	VERB
ejge-4303	124	49	et	et	PROPN
ejge-4303	124	50	al	al	PROPN
ejge-4303	124	51	.	.	PROPN
ejge-4303	125	1	(	(	PUNCT
ejge-4303	125	2	2001	2001	NUM
ejge-4303	125	3	)	)	PUNCT
ejge-4303	125	4	f	f	PROPN
ejge-4303	125	5	test	test	NOUN
ejge-4303	125	6	t	t	PROPN
ejge-4303	125	7	test	test	NOUN
ejge-4303	125	8	i(0	i(0	PROPN
ejge-4303	125	9	)	)	PUNCT
ejge-4303	125	10	i(1	i(1	PROPN
ejge-4303	125	11	)	)	PUNCT
ejge-4303	125	12	i(0	i(0	PROPN
ejge-4303	125	13	)	)	PUNCT
ejge-4303	125	14	i(1	i(1	PROPN
ejge-4303	125	15	)	)	PUNCT
ejge-4303	125	16	10	10	NUM
ejge-4303	125	17	%	%	NOUN
ejge-4303	125	18	2.035	2.035	NUM
ejge-4303	125	19	3.153	3.153	NUM
ejge-4303	125	20	-2.57	-2.57	NUM
ejge-4303	125	21	-4,23	-4,23	PROPN
ejge-4303	125	22	5	5	NUM
ejge-4303	125	23	%	%	NOUN
ejge-4303	125	24	2.365	2.365	NUM
ejge-4303	125	25	3.553	3.553	NUM
ejge-4303	125	26	-2.86	-2.86	NOUN
ejge-4303	125	27	-4,57	-4,57	NOUN
ejge-4303	125	28	1	1	NUM
ejge-4303	125	29	%	%	NOUN
ejge-4303	125	30	3.027	3.027	NUM
ejge-4303	125	31	3.233	3.233	NUM
ejge-4303	125	32	-3.46	-3.46	NUM
ejge-4303	125	33	-5,19	-5,19	ADP
ejge-4303	125	34	critical	critical	ADJ
ejge-4303	125	35	values	value	NOUN
ejge-4303	125	36	narayan	narayan	NOUN
ejge-4303	125	37	(	(	PUNCT
ejge-4303	125	38	2005	2005	NUM
ejge-4303	125	39	)	)	PUNCT
ejge-4303	125	40	f	f	PROPN
ejge-4303	125	41	test	test	NOUN
ejge-4303	125	42	i(0	i(0	PROPN
ejge-4303	125	43	)	)	PUNCT
ejge-4303	125	44	i(1	i(1	PROPN
ejge-4303	125	45	)	)	PUNCT
ejge-4303	125	46	10	10	NUM
ejge-4303	125	47	%	%	NOUN
ejge-4303	125	48	2.129	2.129	NUM
ejge-4303	125	49	3.289	3.289	NUM
ejge-4303	125	50	5	5	NUM
ejge-4303	125	51	%	%	NOUN
ejge-4303	125	52	2.476	2.476	NUM
ejge-4303	125	53	3.746	3.746	NUM
ejge-4303	125	54	1	1	NUM
ejge-4303	125	55	%	%	NOUN
ejge-4303	125	56	4.296	4.296	NUM
ejge-4303	125	57	4.760	4.760	NUM
ejge-4303	125	58	following	follow	VERB
ejge-4303	125	59	pesaran	pesaran	VERB
ejge-4303	125	60	et	et	PROPN
ejge-4303	125	61	al	al	PROPN
ejge-4303	125	62	.	.	PROPN
ejge-4303	126	1	(	(	PUNCT
ejge-4303	126	2	2001	2001	NUM
ejge-4303	126	3	)	)	PUNCT
ejge-4303	126	4	in	in	ADP
ejge-4303	126	5	cases	case	NOUN
ejge-4303	126	6	in	in	ADP
ejge-4303	126	7	which	which	PRON
ejge-4303	126	8	f	f	PROPN
ejge-4303	126	9	tests	test	NOUN
ejge-4303	126	10	are	be	AUX
ejge-4303	126	11	not	not	PART
ejge-4303	126	12	conclusive	conclusive	ADJ
ejge-4303	126	13	we	we	PRON
ejge-4303	126	14	apply	apply	VERB
ejge-4303	126	15	a	a	DET
ejge-4303	126	16	t	t	NOUN
ejge-4303	126	17	test	test	NOUN
ejge-4303	126	18	.	.	PUNCT
ejge-4303	127	1	according	accord	VERB
ejge-4303	127	2	to	to	ADP
ejge-4303	127	3	the	the	DET
ejge-4303	127	4	results	result	NOUN
ejge-4303	127	5	reported	report	VERB
ejge-4303	127	6	in	in	ADP
ejge-4303	127	7	table	table	NOUN
ejge-4303	127	8	3	3	NUM
ejge-4303	127	9	,	,	PUNCT
ejge-4303	127	10	in	in	ADP
ejge-4303	127	11	the	the	DET
ejge-4303	127	12	model	model	NOUN
ejge-4303	127	13	in	in	ADP
ejge-4303	127	14	which	which	PRON
ejge-4303	127	15	the	the	DET
ejge-4303	127	16	esi	esi	PROPN
ejge-4303	127	17	of	of	ADP
ejge-4303	127	18	spain	spain	PROPN
ejge-4303	127	19	is	be	AUX
ejge-4303	127	20	included	include	VERB
ejge-4303	127	21	as	as	ADP
ejge-4303	127	22	dependent	dependent	ADJ
ejge-4303	127	23	variable	variable	NOUN
ejge-4303	127	24	,	,	PUNCT
ejge-4303	127	25	the	the	DET
ejge-4303	127	26	null	null	ADJ
ejge-4303	127	27	hypothesis	hypothesis	NOUN
ejge-4303	127	28	of	of	ADP
ejge-4303	127	29	the	the	DET
ejge-4303	127	30	absence	absence	NOUN
ejge-4303	127	31	of	of	ADP
ejge-4303	127	32	a	a	DET
ejge-4303	127	33	cointegration	cointegration	NOUN
ejge-4303	127	34	relationship	relationship	NOUN
ejge-4303	127	35	between	between	ADP
ejge-4303	127	36	the	the	DET
ejge-4303	127	37	variables	variable	NOUN
ejge-4303	127	38	could	could	AUX
ejge-4303	127	39	not	not	PART
ejge-4303	127	40	be	be	AUX
ejge-4303	127	41	rejected	reject	VERB
ejge-4303	127	42	.	.	PUNCT
ejge-4303	128	1	therefore	therefore	ADV
ejge-4303	128	2	,	,	PUNCT
ejge-4303	128	3	esi_sp	esi_sp	PROPN
ejge-4303	128	4	should	should	AUX
ejge-4303	128	5	not	not	PART
ejge-4303	128	6	be	be	AUX
ejge-4303	128	7	considered	consider	VERB
ejge-4303	128	8	as	as	ADP
ejge-4303	128	9	dependent	dependent	ADJ
ejge-4303	128	10	variable	variable	NOUN
ejge-4303	128	11	.	.	PUNCT
ejge-4303	129	1	in	in	ADP
ejge-4303	129	2	summary	summary	NOUN
ejge-4303	129	3	,	,	PUNCT
ejge-4303	129	4	according	accord	VERB
ejge-4303	129	5	to	to	ADP
ejge-4303	129	6	f	f	PROPN
ejge-4303	129	7	and	and	CCONJ
ejge-4303	129	8	t	t	PROPN
ejge-4303	129	9	tests	test	NOUN
ejge-4303	129	10	,	,	PUNCT
ejge-4303	129	11	the	the	DET
ejge-4303	129	12	ardl	ardl	NOUN
ejge-4303	129	13	could	could	AUX
ejge-4303	129	14	be	be	AUX
ejge-4303	129	15	applicable	applicable	ADJ
ejge-4303	129	16	in	in	ADP
ejge-4303	129	17	models	model	NOUN
ejge-4303	129	18	in	in	ADP
ejge-4303	129	19	which	which	PRON
ejge-4303	129	20	the	the	DET
ejge-4303	129	21	public	public	ADJ
ejge-4303	129	22	debt	debt	NOUN
ejge-4303	129	23	/	/	SYM
ejge-4303	129	24	gdp	gdp	NOUN
ejge-4303	129	25	,	,	PUNCT
ejge-4303	129	26	unemployment	unemployment	NOUN
ejge-4303	129	27	rate	rate	NOUN
ejge-4303	129	28	or	or	CCONJ
ejge-4303	129	29	the	the	DET
ejge-4303	129	30	vix	vix	NOUN
ejge-4303	129	31	were	be	AUX
ejge-4303	129	32	dependent	dependent	ADJ
ejge-4303	129	33	variables	variable	NOUN
ejge-4303	129	34	.	.	PUNCT
ejge-4303	130	1	estimation	estimation	NOUN
ejge-4303	130	2	of	of	ADP
ejge-4303	130	3	an	an	DET
ejge-4303	130	4	ardl	ardl	NOUN
ejge-4303	130	5	model	model	NOUN
ejge-4303	130	6	generally	generally	ADV
ejge-4303	130	7	speaking	speak	VERB
ejge-4303	130	8	,	,	PUNCT
ejge-4303	130	9	an	an	DET
ejge-4303	130	10	ardl	ardl	NOUN
ejge-4303	130	11	is	be	AUX
ejge-4303	130	12	a	a	DET
ejge-4303	130	13	general	general	ADJ
ejge-4303	130	14	–	–	PUNCT
ejge-4303	130	15	to	to	ADP
ejge-4303	130	16	-	-	PUNCT
ejge-4303	130	17	specific	specific	ADJ
ejge-4303	130	18	approach	approach	NOUN
ejge-4303	130	19	that	that	PRON
ejge-4303	130	20	allows	allow	VERB
ejge-4303	130	21	to	to	PART
ejge-4303	130	22	include	include	VERB
ejge-4303	130	23	all	all	DET
ejge-4303	130	24	the	the	DET
ejge-4303	130	25	variables	variable	NOUN
ejge-4303	130	26	that	that	SCONJ
ejge-4303	130	27	a	a	DET
ejge-4303	130	28	priori	priori	NOUN
ejge-4303	130	29	may	may	AUX
ejge-4303	130	30	influence	influence	VERB
ejge-4303	130	31	the	the	DET
ejge-4303	130	32	behaviour	behaviour	NOUN
ejge-4303	130	33	of	of	ADP
ejge-4303	130	34	a	a	DET
ejge-4303	130	35	dependent	dependent	ADJ
ejge-4303	130	36	variable	variable	NOUN
ejge-4303	130	37	and	and	CCONJ
ejge-4303	130	38	later	later	ADV
ejge-4303	130	39	on	on	ADV
ejge-4303	130	40	it	it	PRON
ejge-4303	130	41	reveals	reveal	VERB
ejge-4303	130	42	which	which	DET
ejge-4303	130	43	ones	one	NOUN
ejge-4303	130	44	are	be	AUX
ejge-4303	130	45	relevant	relevant	ADJ
ejge-4303	130	46	and	and	CCONJ
ejge-4303	130	47	which	which	PRON
ejge-4303	130	48	are	be	AUX
ejge-4303	130	49	not	not	PART
ejge-4303	130	50	.	.	PUNCT
ejge-4303	131	1	thus	thus	ADV
ejge-4303	131	2	it	it	PRON
ejge-4303	131	3	minimises	minimise	VERB
ejge-4303	131	4	the	the	DET
ejge-4303	131	5	probability	probability	NOUN
ejge-4303	131	6	of	of	ADP
ejge-4303	131	7	omitting	omit	VERB
ejge-4303	131	8	relevant	relevant	ADJ
ejge-4303	131	9	variables	variable	NOUN
ejge-4303	131	10	,	,	PUNCT
ejge-4303	131	11	a	a	DET
ejge-4303	131	12	problem	problem	NOUN
ejge-4303	131	13	that	that	PRON
ejge-4303	131	14	would	would	AUX
ejge-4303	131	15	be	be	AUX
ejge-4303	131	16	more	more	ADV
ejge-4303	131	17	serious	serious	ADJ
ejge-4303	131	18	than	than	SCONJ
ejge-4303	131	19	to	to	PART
ejge-4303	131	20	include	include	VERB
ejge-4303	131	21	irrelevant	irrelevant	ADJ
ejge-4303	131	22	variables	variable	NOUN
ejge-4303	131	23	(	(	PUNCT
ejge-4303	131	24	hendry	hendry	PROPN
ejge-4303	131	25	and	and	CCONJ
ejge-4303	131	26	ericsson	ericsson	PROPN
ejge-4303	131	27	,	,	PUNCT
ejge-4303	131	28	1991	1991	NUM
ejge-4303	131	29	)	)	PUNCT
ejge-4303	131	30	.	.	PUNCT
ejge-4303	132	1	moreover	moreover	ADV
ejge-4303	132	2	,	,	PUNCT
ejge-4303	132	3	it	it	PRON
ejge-4303	132	4	allows	allow	VERB
ejge-4303	132	5	for	for	ADP
ejge-4303	132	6	the	the	DET
ejge-4303	132	7	use	use	NOUN
ejge-4303	132	8	of	of	ADP
ejge-4303	132	9	variables	variable	NOUN
ejge-4303	132	10	without	without	ADP
ejge-4303	132	11	a	a	DET
ejge-4303	132	12	prior	prior	ADJ
ejge-4303	132	13	knowledge	knowledge	NOUN
ejge-4303	132	14	of	of	ADP
ejge-4303	132	15	their	their	PRON
ejge-4303	132	16	order	order	NOUN
ejge-4303	132	17	of	of	ADP
ejge-4303	132	18	integration	integration	NOUN
ejge-4303	132	19	and	and	CCONJ
ejge-4303	132	20	,	,	PUNCT
ejge-4303	132	21	therefore	therefore	ADV
ejge-4303	132	22	,	,	PUNCT
ejge-4303	132	23	facilitates	facilitate	VERB
ejge-4303	132	24	the	the	DET
ejge-4303	132	25	joint	joint	ADJ
ejge-4303	132	26	inclusion	inclusion	NOUN
ejge-4303	132	27	of	of	ADP
ejge-4303	132	28	both	both	DET
ejge-4303	132	29	i(0	i(0	PROPN
ejge-4303	132	30	)	)	PUNCT
ejge-4303	132	31	and	and	CCONJ
ejge-4303	132	32	i(1	i(1	PROPN
ejge-4303	132	33	)	)	PUNCT
ejge-4303	132	34	variables	variable	NOUN
ejge-4303	132	35	(	(	PUNCT
ejge-4303	132	36	sultan	sultan	PROPN
ejge-4303	132	37	,	,	PUNCT
ejge-4303	132	38	2010	2010	NUM
ejge-4303	132	39	)	)	PUNCT
ejge-4303	132	40	.	.	PUNCT
ejge-4303	133	1	finally	finally	ADV
ejge-4303	133	2	,	,	PUNCT
ejge-4303	133	3	the	the	DET
ejge-4303	133	4	formulation	formulation	NOUN
ejge-4303	133	5	of	of	ADP
ejge-4303	133	6	this	this	DET
ejge-4303	133	7	model	model	NOUN
ejge-4303	133	8	will	will	AUX
ejge-4303	133	9	offer	offer	VERB
ejge-4303	133	10	also	also	ADV
ejge-4303	133	11	an	an	DET
ejge-4303	133	12	insight	insight	NOUN
ejge-4303	133	13	into	into	ADP
ejge-4303	133	14	the	the	DET
ejge-4303	133	15	short	short	ADJ
ejge-4303	133	16	and	and	CCONJ
ejge-4303	133	17	long	long	ADJ
ejge-4303	133	18	term	term	NOUN
ejge-4303	133	19	behaviour	behaviour	NOUN
ejge-4303	133	20	of	of	ADP
ejge-4303	133	21	the	the	DET
ejge-4303	133	22	variables	variable	NOUN
ejge-4303	133	23	,	,	PUNCT
ejge-4303	133	24	estimating	estimate	VERB
ejge-4303	133	25	the	the	DET
ejge-4303	133	26	speed	speed	NOUN
ejge-4303	133	27	of	of	ADP
ejge-4303	133	28	adjustment	adjustment	NOUN
ejge-4303	133	29	of	of	ADP
ejge-4303	133	30	the	the	DET
ejge-4303	133	31	dependent	dependent	ADJ
ejge-4303	133	32	variable	variable	NOUN
ejge-4303	133	33	to	to	ADP
ejge-4303	133	34	a	a	DET
ejge-4303	133	35	long	long	ADV
ejge-4303	133	36	-	-	PUNCT
ejge-4303	133	37	run	run	NOUN
ejge-4303	133	38	equilibrium	equilibrium	NOUN
ejge-4303	133	39	after	after	ADP
ejge-4303	133	40	a	a	DET
ejge-4303	133	41	shock	shock	NOUN
ejge-4303	133	42	in	in	ADP
ejge-4303	133	43	the	the	DET
ejge-4303	133	44	independent	independent	ADJ
ejge-4303	133	45	variables	variable	NOUN
ejge-4303	133	46	.	.	PUNCT
ejge-4303	134	1	in	in	ADP
ejge-4303	134	2	our	our	PRON
ejge-4303	134	3	particular	particular	ADJ
ejge-4303	134	4	case	case	NOUN
ejge-4303	134	5	,	,	PUNCT
ejge-4303	134	6	the	the	DET
ejge-4303	134	7	ardl	ardl	NOUN
ejge-4303	134	8	model	model	NOUN
ejge-4303	134	9	is	be	AUX
ejge-4303	134	10	formulated	formulate	VERB
ejge-4303	134	11	with	with	ADP
ejge-4303	134	12	each	each	PRON
ejge-4303	134	13	of	of	ADP
ejge-4303	134	14	the	the	DET
ejge-4303	134	15	dependent	dependent	ADJ
ejge-4303	134	16	variables	variable	NOUN
ejge-4303	134	17	that	that	SCONJ
ejge-4303	134	18	the	the	DET
ejge-4303	134	19	bound	bound	ADJ
ejge-4303	134	20	test	test	NOUN
ejge-4303	134	21	indicated	indicate	VERB
ejge-4303	134	22	as	as	ADP
ejge-4303	134	23	significant	significant	ADJ
ejge-4303	134	24	for	for	ADP
ejge-4303	134	25	the	the	DET
ejge-4303	134	26	case	case	NOUN
ejge-4303	134	27	of	of	ADP
ejge-4303	134	28	four	four	NUM
ejge-4303	134	29	lags	lag	NOUN
ejge-4303	134	30	:	:	PUNCT
ejge-4303	134	31	unemployment	unemployment	NOUN
ejge-4303	134	32	,	,	PUNCT
ejge-4303	134	33	public	public	ADJ
ejge-4303	134	34	debt	debt	NOUN
ejge-4303	134	35	/	/	SYM
ejge-4303	134	36	gdp	gdp	NOUN
ejge-4303	134	37	ratio	ratio	NOUN
ejge-4303	134	38	and	and	CCONJ
ejge-4303	134	39	vix	vix	PROPN
ejge-4303	134	40	.	.	PUNCT
ejge-4303	135	1	the	the	DET
ejge-4303	135	2	formulation	formulation	NOUN
ejge-4303	135	3	of	of	ADP
ejge-4303	135	4	the	the	DET
ejge-4303	135	5	ardl	ardl	NOUN
ejge-4303	135	6	when	when	SCONJ
ejge-4303	135	7	the	the	DET
ejge-4303	135	8	public	public	ADJ
ejge-4303	135	9	debt	debt	NOUN
ejge-4303	135	10	/	/	SYM
ejge-4303	135	11	gdp	gdp	NOUN
ejge-4303	135	12	is	be	AUX
ejge-4303	135	13	incorporated	incorporate	VERB
ejge-4303	135	14	as	as	SCONJ
ejge-4303	135	15	dependent	dependent	ADJ
ejge-4303	135	16	variable	variable	NOUN
ejge-4303	135	17	shows	show	VERB
ejge-4303	135	18	problems	problem	NOUN
ejge-4303	135	19	of	of	ADP
ejge-4303	135	20	serial	serial	ADJ
ejge-4303	135	21	autocorrelation	autocorrelation	NOUN
ejge-4303	135	22	,	,	PUNCT
ejge-4303	135	23	lack	lack	NOUN
ejge-4303	135	24	of	of	ADP
ejge-4303	135	25	significance	significance	NOUN
ejge-4303	135	26	and	and	CCONJ
ejge-4303	135	27	instability	instability	NOUN
ejge-4303	135	28	of	of	ADP
ejge-4303	135	29	long	long	ADJ
ejge-4303	135	30	term	term	NOUN
ejge-4303	135	31	coefficients	coefficient	NOUN
ejge-4303	135	32	.	.	PUNCT
ejge-4303	136	1	the	the	DET
ejge-4303	136	2	specification	specification	NOUN
ejge-4303	136	3	with	with	ADP
ejge-4303	136	4	the	the	DET
ejge-4303	136	5	vix	vix	PROPN
ejge-4303	136	6	as	as	ADP
ejge-4303	136	7	dependent	dependent	ADJ
ejge-4303	136	8	variable	variable	NOUN
ejge-4303	136	9	reveals	reveal	VERB
ejge-4303	136	10	serial	serial	ADJ
ejge-4303	136	11	autocorrelation	autocorrelation	NOUN
ejge-4303	136	12	,	,	PUNCT
ejge-4303	136	13	incorrect	incorrect	ADJ
ejge-4303	136	14	functional	functional	ADJ
ejge-4303	136	15	form	form	NOUN
ejge-4303	136	16	,	,	PUNCT
ejge-4303	136	17	non	non	X
ejge-4303	136	18	normality	normality	NOUN
ejge-4303	136	19	and	and	CCONJ
ejge-4303	136	20	heteroscedasticity	heteroscedasticity	NOUN
ejge-4303	136	21	in	in	ADP
ejge-4303	136	22	the	the	DET
ejge-4303	136	23	residuals	residual	NOUN
ejge-4303	136	24	which	which	PRON
ejge-4303	136	25	lead	lead	VERB
ejge-4303	136	26	us	we	PRON
ejge-4303	136	27	to	to	PART
ejge-4303	136	28	reject	reject	VERB
ejge-4303	136	29	this	this	DET
ejge-4303	136	30	formulation	formulation	NOUN
ejge-4303	136	31	.	.	PUNCT
ejge-4303	137	1	as	as	SCONJ
ejge-4303	137	2	can	can	AUX
ejge-4303	137	3	be	be	AUX
ejge-4303	137	4	seen	see	VERB
ejge-4303	137	5	in	in	ADP
ejge-4303	137	6	table	table	NOUN
ejge-4303	137	7	4	4	NUM
ejge-4303	137	8	,	,	PUNCT
ejge-4303	137	9	the	the	DET
ejge-4303	137	10	choice	choice	NOUN
ejge-4303	137	11	of	of	ADP
ejge-4303	137	12	an	an	DET
ejge-4303	137	13	ardl	ardl	NOUN
ejge-4303	137	14	model	model	NOUN
ejge-4303	137	15	with	with	ADP
ejge-4303	137	16	the	the	DET
ejge-4303	137	17	unemployment	unemployment	NOUN
ejge-4303	137	18	rate	rate	NOUN
ejge-4303	137	19	as	as	ADP
ejge-4303	137	20	the	the	DET
ejge-4303	137	21	dependent	dependent	ADJ
ejge-4303	137	22	variable	variable	NOUN
ejge-4303	137	23	does	do	AUX
ejge-4303	137	24	not	not	PART
ejge-4303	137	25	reveal	reveal	VERB
ejge-4303	137	26	problems	problem	NOUN
ejge-4303	137	27	of	of	ADP
ejge-4303	137	28	serial	serial	ADJ
ejge-4303	137	29	correlation	correlation	NOUN
ejge-4303	137	30	,	,	PUNCT
ejge-4303	137	31	misspecification	misspecification	NOUN
ejge-4303	137	32	,	,	PUNCT
ejge-4303	137	33	normality	normality	NOUN
ejge-4303	137	34	or	or	CCONJ
ejge-4303	137	35	heteroscedasticity	heteroscedasticity	NOUN
ejge-4303	137	36	in	in	ADP
ejge-4303	137	37	any	any	PRON
ejge-4303	137	38	of	of	ADP
ejge-4303	137	39	the	the	DET
ejge-4303	137	40	tests	test	NOUN
ejge-4303	137	41	performed	perform	VERB
ejge-4303	137	42	with	with	ADP
ejge-4303	137	43	the	the	DET
ejge-4303	137	44	four	four	NUM
ejge-4303	137	45	criteria	criterion	NOUN
ejge-4303	137	46	.	.	PUNCT
ejge-4303	138	1	castellanos	castellanos	PROPN
ejge-4303	138	2	et	et	PROPN
ejge-4303	138	3	al	al	PROPN
ejge-4303	138	4	.	.	PUNCT
ejge-4303	139	1	●	●	PUNCT
ejge-4303	139	2	the	the	DET
ejge-4303	139	3	role	role	NOUN
ejge-4303	139	4	of	of	ADP
ejge-4303	139	5	confidence	confidence	NOUN
ejge-4303	139	6	in	in	ADP
ejge-4303	139	7	the	the	DET
ejge-4303	139	8	evolution	evolution	NOUN
ejge-4303	139	9	of	of	ADP
ejge-4303	139	10	the	the	DET
ejge-4303	139	11	spanish	spanish	ADJ
ejge-4303	139	12	economy	economy	NOUN
ejge-4303	139	13	155	155	NUM
ejge-4303	139	14	table	table	NOUN
ejge-4303	139	15	4	4	NUM
ejge-4303	139	16	.	.	PUNCT
ejge-4303	140	1	diagnostic	diagnostic	ADJ
ejge-4303	140	2	tests	test	NOUN
ejge-4303	140	3	considering	consider	VERB
ejge-4303	140	4	unemployment	unemployment	NOUN
ejge-4303	140	5	rate	rate	NOUN
ejge-4303	140	6	as	as	ADP
ejge-4303	140	7	dependent	dependent	ADJ
ejge-4303	140	8	variable	variable	ADJ
ejge-4303	140	9	statistical	statistical	ADJ
ejge-4303	140	10	test	test	NOUN
ejge-4303	140	11	r2	r2	PROPN
ejge-4303	140	12	selection	selection	NOUN
ejge-4303	140	13	criterion	criterion	NOUN
ejge-4303	140	14	lm	lm	INTJ
ejge-4303	140	15	version	version	PROPN
ejge-4303	140	16	f	f	PROPN
ejge-4303	140	17	version	version	PROPN
ejge-4303	140	18	lagrange	lagrange	PROPN
ejge-4303	140	19	test	test	NOUN
ejge-4303	140	20	(	(	PUNCT
ejge-4303	140	21	serial	serial	ADJ
ejge-4303	140	22	correlation	correlation	NOUN
ejge-4303	140	23	)	)	PUNCT
ejge-4303	140	24	chsq(4	chsq(4	NOUN
ejge-4303	140	25	)	)	PUNCT
ejge-4303	140	26	=	=	SYM
ejge-4303	141	1	10.7435	10.7435	NUM
ejge-4303	142	1	[	[	X
ejge-4303	142	2	0.030	0.030	NUM
ejge-4303	142	3	]	]	X
ejge-4303	142	4	f(4	f(4	PROPN
ejge-4303	142	5	,	,	PUNCT
ejge-4303	142	6	56	56	NUM
ejge-4303	142	7	)	)	PUNCT
ejge-4303	142	8	=	=	SYM
ejge-4303	143	1	2.0816	2.0816	NUM
ejge-4303	143	2	[	[	X
ejge-4303	143	3	0.095	0.095	NUM
ejge-4303	143	4	]	]	X
ejge-4303	143	5	reset	reset	ADJ
ejge-4303	143	6	test	test	NOUN
ejge-4303	143	7	(	(	PUNCT
ejge-4303	143	8	functional	functional	ADJ
ejge-4303	143	9	form	form	NOUN
ejge-4303	143	10	)	)	PUNCT
ejge-4303	143	11	chsq(1	chsq(1	PROPN
ejge-4303	143	12	)	)	PUNCT
ejge-4303	144	1	=	=	NOUN
ejge-4303	145	1	1.2180	1.2180	NUM
ejge-4303	145	2	[	[	SYM
ejge-4303	145	3	0.270	0.270	NUM
ejge-4303	145	4	]	]	PUNCT
ejge-4303	145	5	f(1	f(1	PROPN
ejge-4303	145	6	,	,	PUNCT
ejge-4303	145	7	59	59	NUM
ejge-4303	145	8	)	)	PUNCT
ejge-4303	145	9	=	=	PUNCT
ejge-4303	146	1	0.8787	0.8787	NUM
ejge-4303	147	1	[	[	X
ejge-4303	147	2	0.352	0.352	NUM
ejge-4303	147	3	]	]	PUNCT
ejge-4303	147	4	normality	normality	NOUN
ejge-4303	147	5	test	test	NOUN
ejge-4303	147	6	chsq(2	chsq(2	NOUN
ejge-4303	147	7	)	)	PUNCT
ejge-4303	148	1	=	=	PUNCT
ejge-4303	149	1	1.3382	1.3382	NUM
ejge-4303	150	1	[	[	X
ejge-4303	150	2	0.512	0.512	NUM
ejge-4303	150	3	]	]	PUNCT
ejge-4303	150	4	not	not	PART
ejge-4303	150	5	applicable	applicable	ADJ
ejge-4303	150	6	heteroscedasticity	heteroscedasticity	NOUN
ejge-4303	150	7	test	test	NOUN
ejge-4303	150	8	chsq(1	chsq(1	PROPN
ejge-4303	150	9	)	)	PUNCT
ejge-4303	151	1	=	=	PUNCT
ejge-4303	152	1	3.1514	3.1514	NUM
ejge-4303	152	2	[	[	X
ejge-4303	152	3	0.076	0.076	NUM
ejge-4303	152	4	]	]	X
ejge-4303	152	5	f(1	f(1	PROPN
ejge-4303	152	6	,	,	PUNCT
ejge-4303	152	7	81	81	NUM
ejge-4303	152	8	)	)	PUNCT
ejge-4303	152	9	=	=	NOUN
ejge-4303	153	1	3.1968	3.1968	NUM
ejge-4303	153	2	[	[	X
ejge-4303	153	3	0.078	0.078	NUM
ejge-4303	153	4	]	]	X
ejge-4303	153	5	aic	aic	PROPN
ejge-4303	153	6	selection	selection	NOUN
ejge-4303	153	7	criterion	criterion	NOUN
ejge-4303	153	8	lm	lm	INTJ
ejge-4303	153	9	version	version	PROPN
ejge-4303	153	10	f	f	PROPN
ejge-4303	153	11	version	version	PROPN
ejge-4303	153	12	lagrange	lagrange	PROPN
ejge-4303	153	13	test	test	NOUN
ejge-4303	153	14	chsq(4	chsq(4	NOUN
ejge-4303	153	15	)	)	PUNCT
ejge-4303	153	16	=	=	PUNCT
ejge-4303	154	1	8.7208	8.7208	NUM
ejge-4303	154	2	[	[	X
ejge-4303	154	3	0.068	0.068	NUM
ejge-4303	154	4	]	]	X
ejge-4303	154	5	f(4	f(4	PROPN
ejge-4303	154	6	.	.	NOUN
ejge-4303	154	7	59	59	NUM
ejge-4303	154	8	)	)	PUNCT
ejge-4303	154	9	=	=	NOUN
ejge-4303	155	1	1.7317	1.7317	NUM
ejge-4303	155	2	[	[	X
ejge-4303	155	3	0.155	0.155	NUM
ejge-4303	155	4	]	]	PUNCT
ejge-4303	155	5	reset	reset	ADJ
ejge-4303	155	6	test	test	NOUN
ejge-4303	155	7	chsq(1	chsq(1	PROPN
ejge-4303	155	8	)	)	PUNCT
ejge-4303	156	1	=	=	PUNCT
ejge-4303	157	1	2.3370	2.3370	NUM
ejge-4303	158	1	[	[	X
ejge-4303	158	2	0.126	0.126	X
ejge-4303	158	3	]	]	X
ejge-4303	158	4	f(1	f(1	PROPN
ejge-4303	158	5	.	.	NOUN
ejge-4303	158	6	62	62	NUM
ejge-4303	158	7	)	)	PUNCT
ejge-4303	158	8	=	=	PUNCT
ejge-4303	159	1	1.7963	1.7963	NUM
ejge-4303	159	2	[	[	SYM
ejge-4303	159	3	0.185	0.185	NUM
ejge-4303	159	4	]	]	PUNCT
ejge-4303	159	5	normality	normality	NOUN
ejge-4303	159	6	test	test	NOUN
ejge-4303	159	7	chsq(2	chsq(2	NOUN
ejge-4303	159	8	)	)	PUNCT
ejge-4303	159	9	=	=	PUNCT
ejge-4303	160	1	0.3591	0.3591	NUM
ejge-4303	161	1	[	[	X
ejge-4303	161	2	0.836	0.836	NUM
ejge-4303	161	3	]	]	PUNCT
ejge-4303	161	4	not	not	PART
ejge-4303	161	5	applicable	applicable	ADJ
ejge-4303	161	6	heteroscedasticity	heteroscedasticity	NOUN
ejge-4303	161	7	test	test	NOUN
ejge-4303	161	8	chsq(1	chsq(1	PROPN
ejge-4303	161	9	)	)	PUNCT
ejge-4303	162	1	=	=	PUNCT
ejge-4303	163	1	1.8399	1.8399	NUM
ejge-4303	164	1	[	[	X
ejge-4303	164	2	0.175	0.175	NUM
ejge-4303	164	3	]	]	X
ejge-4303	164	4	f(1	f(1	PROPN
ejge-4303	164	5	.	.	NOUN
ejge-4303	164	6	81	81	NUM
ejge-4303	164	7	)	)	PUNCT
ejge-4303	164	8	=	=	NOUN
ejge-4303	165	1	1.8363	1.8363	NUM
ejge-4303	165	2	[	[	NOUN
ejge-4303	165	3	0.179	0.179	NUM
ejge-4303	165	4	]	]	X
ejge-4303	165	5	bic	bic	NOUN
ejge-4303	165	6	selection	selection	NOUN
ejge-4303	165	7	criterion	criterion	NOUN
ejge-4303	165	8	lm	lm	INTJ
ejge-4303	165	9	version	version	PROPN
ejge-4303	165	10	f	f	PROPN
ejge-4303	165	11	version	version	PROPN
ejge-4303	165	12	lagrange	lagrange	PROPN
ejge-4303	165	13	test	test	NOUN
ejge-4303	165	14	chsq(4	chsq(4	NOUN
ejge-4303	165	15	)	)	PUNCT
ejge-4303	165	16	=	=	PUNCT
ejge-4303	166	1	3.6464	3.6464	NUM
ejge-4303	167	1	[	[	X
ejge-4303	167	2	0.456	0.456	NUM
ejge-4303	167	3	]	]	X
ejge-4303	167	4	f(4	f(4	PROPN
ejge-4303	167	5	.	.	NOUN
ejge-4303	167	6	64	64	NUM
ejge-4303	167	7	)	)	PUNCT
ejge-4303	167	8	=	=	NOUN
ejge-4303	168	1	0.7352	0.7352	NUM
ejge-4303	169	1	[	[	X
ejge-4303	169	2	0.571	0.571	NUM
ejge-4303	169	3	]	]	X
ejge-4303	169	4	reset	reset	ADJ
ejge-4303	169	5	test	test	NOUN
ejge-4303	169	6	chsq(1	chsq(1	PROPN
ejge-4303	169	7	)	)	PUNCT
ejge-4303	170	1	=	=	PUNCT
ejge-4303	171	1	2.7220	2.7220	NUM
ejge-4303	171	2	[	[	X
ejge-4303	171	3	0.099	0.099	NUM
ejge-4303	171	4	]	]	X
ejge-4303	171	5	f(1	f(1	PROPN
ejge-4303	171	6	.	.	NOUN
ejge-4303	171	7	67	67	NUM
ejge-4303	171	8	)	)	PUNCT
ejge-4303	172	1	=	=	NOUN
ejge-4303	173	1	2.2717	2.2717	NUM
ejge-4303	173	2	[	[	ADP
ejge-4303	173	3	0.136	0.136	NUM
ejge-4303	173	4	]	]	PUNCT
ejge-4303	173	5	normality	normality	ADJ
ejge-4303	173	6	test	test	NOUN
ejge-4303	173	7	chsq(2	chsq(2	NOUN
ejge-4303	173	8	)	)	PUNCT
ejge-4303	173	9	=	=	PUNCT
ejge-4303	174	1	0.2876	0.2876	NUM
ejge-4303	174	2	[	[	SYM
ejge-4303	174	3	0.866	0.866	NUM
ejge-4303	174	4	]	]	PUNCT
ejge-4303	174	5	not	not	PART
ejge-4303	174	6	applicable	applicable	ADJ
ejge-4303	174	7	heteroscedasticity	heteroscedasticity	NOUN
ejge-4303	174	8	test	test	NOUN
ejge-4303	174	9	chsq(1	chsq(1	PROPN
ejge-4303	174	10	)	)	PUNCT
ejge-4303	175	1	=	=	PUNCT
ejge-4303	176	1	0.0455	0.0455	NUM
ejge-4303	177	1	[	[	X
ejge-4303	177	2	0.831	0.831	NUM
ejge-4303	177	3	]	]	X
ejge-4303	177	4	f(1	f(1	PROPN
ejge-4303	177	5	.	.	NOUN
ejge-4303	177	6	81	81	NUM
ejge-4303	177	7	)	)	PUNCT
ejge-4303	177	8	=	=	PUNCT
ejge-4303	178	1	0.0444	0.0444	NUM
ejge-4303	178	2	[	[	PUNCT
ejge-4303	178	3	0.834	0.834	NUM
ejge-4303	178	4	]	]	PUNCT
ejge-4303	178	5	hq	hq	NOUN
ejge-4303	178	6	selection	selection	NOUN
ejge-4303	178	7	criterion	criterion	NOUN
ejge-4303	178	8	lm	lm	INTJ
ejge-4303	178	9	version	version	PROPN
ejge-4303	178	10	f	f	PROPN
ejge-4303	178	11	version	version	PROPN
ejge-4303	178	12	lagrange	lagrange	PROPN
ejge-4303	178	13	test	test	NOUN
ejge-4303	178	14	chsq(4	chsq(4	NOUN
ejge-4303	178	15	)	)	PUNCT
ejge-4303	179	1	=	=	PUNCT
ejge-4303	179	2	8.7208	8.7208	NUM
ejge-4303	180	1	[	[	X
ejge-4303	180	2	0.068	0.068	NUM
ejge-4303	180	3	]	]	X
ejge-4303	180	4	f(4	f(4	PROPN
ejge-4303	180	5	.	.	NOUN
ejge-4303	180	6	59	59	NUM
ejge-4303	180	7	)	)	PUNCT
ejge-4303	180	8	=	=	NOUN
ejge-4303	181	1	1.7317	1.7317	NUM
ejge-4303	181	2	[	[	X
ejge-4303	181	3	0.155	0.155	NUM
ejge-4303	181	4	]	]	PUNCT
ejge-4303	181	5	reset	reset	ADJ
ejge-4303	181	6	test	test	NOUN
ejge-4303	181	7	chsq(1	chsq(1	PROPN
ejge-4303	181	8	)	)	PUNCT
ejge-4303	182	1	=	=	PUNCT
ejge-4303	183	1	2.3370	2.3370	NUM
ejge-4303	184	1	[	[	X
ejge-4303	184	2	0.126	0.126	X
ejge-4303	184	3	]	]	X
ejge-4303	184	4	f(1	f(1	PROPN
ejge-4303	184	5	.	.	NOUN
ejge-4303	184	6	62	62	NUM
ejge-4303	184	7	)	)	PUNCT
ejge-4303	184	8	=	=	PUNCT
ejge-4303	185	1	1.7963	1.7963	NUM
ejge-4303	185	2	[	[	SYM
ejge-4303	185	3	0.185	0.185	NUM
ejge-4303	185	4	]	]	PUNCT
ejge-4303	185	5	normality	normality	NOUN
ejge-4303	185	6	test	test	NOUN
ejge-4303	185	7	chsq(2	chsq(2	NOUN
ejge-4303	185	8	)	)	PUNCT
ejge-4303	185	9	=	=	PUNCT
ejge-4303	186	1	0.3591	0.3591	NUM
ejge-4303	187	1	[	[	X
ejge-4303	187	2	0.836	0.836	NUM
ejge-4303	187	3	]	]	PUNCT
ejge-4303	187	4	not	not	PART
ejge-4303	187	5	applicable	applicable	ADJ
ejge-4303	187	6	heteroscedasticity	heteroscedasticity	NOUN
ejge-4303	187	7	test	test	NOUN
ejge-4303	187	8	chsq(1	chsq(1	PROPN
ejge-4303	187	9	)	)	PUNCT
ejge-4303	188	1	=	=	PUNCT
ejge-4303	189	1	1.8399	1.8399	NUM
ejge-4303	190	1	[	[	X
ejge-4303	190	2	0.175	0.175	NUM
ejge-4303	190	3	]	]	X
ejge-4303	190	4	f(1	f(1	PROPN
ejge-4303	190	5	.	.	NOUN
ejge-4303	190	6	81	81	NUM
ejge-4303	190	7	)	)	PUNCT
ejge-4303	190	8	=	=	NOUN
ejge-4303	191	1	1.8363	1.8363	NUM
ejge-4303	192	1	[	[	NOUN
ejge-4303	192	2	0.179	0.179	NUM
ejge-4303	192	3	]	]	PUNCT
ejge-4303	192	4	additionally	additionally	ADV
ejge-4303	192	5	,	,	PUNCT
ejge-4303	192	6	cusum	cusum	VERB
ejge-4303	192	7	and	and	CCONJ
ejge-4303	192	8	cusumq	cusumq	VERB
ejge-4303	192	9	stability	stability	NOUN
ejge-4303	192	10	tests	test	NOUN
ejge-4303	192	11	did	do	AUX
ejge-4303	192	12	not	not	PART
ejge-4303	192	13	reflect	reflect	VERB
ejge-4303	192	14	instability	instability	NOUN
ejge-4303	192	15	of	of	ADP
ejge-4303	192	16	long	long	ADJ
ejge-4303	192	17	-	-	PUNCT
ejge-4303	192	18	run	run	NOUN
ejge-4303	192	19	coefficients	coefficient	NOUN
ejge-4303	192	20	of	of	ADP
ejge-4303	192	21	the	the	DET
ejge-4303	192	22	variables	variable	NOUN
ejge-4303	192	23	.	.	PUNCT
ejge-4303	193	1	thus	thus	ADV
ejge-4303	193	2	,	,	PUNCT
ejge-4303	193	3	after	after	ADP
ejge-4303	193	4	the	the	DET
ejge-4303	193	5	completion	completion	NOUN
ejge-4303	193	6	of	of	ADP
ejge-4303	193	7	these	these	DET
ejge-4303	193	8	tests	test	NOUN
ejge-4303	193	9	,	,	PUNCT
ejge-4303	193	10	the	the	DET
ejge-4303	193	11	general	general	ADJ
ejge-4303	193	12	ardl	ardl	NOUN
ejge-4303	193	13	model	model	NOUN
ejge-4303	193	14	would	would	AUX
ejge-4303	193	15	be	be	AUX
ejge-4303	193	16	established	establish	VERB
ejge-4303	193	17	as	as	SCONJ
ejge-4303	193	18	follows	follow	VERB
ejge-4303	193	19	:	:	PUNCT
ejge-4303	193	20	tit	tit	NOUN
ejge-4303	194	1	i	i	PRON
ejge-4303	194	2	i	i	PRON
ejge-4303	195	1	i	i	PRON
ejge-4303	195	2	iti	iti	INTJ
ejge-4303	196	1	i	i	PRON
ejge-4303	196	2	iti	iti	INTJ
ejge-4303	196	3	it	it	PRON
ejge-4303	197	1	i	i	PRON
ejge-4303	197	2	iit	iit	VERB
ejge-4303	198	1	i	i	PRON
ejge-4303	198	2	iit	iit	VERB
ejge-4303	199	1	i	i	PRON
ejge-4303	199	2	i	i	PRON
ejge-4303	199	3	it	it	PRON
ejge-4303	200	1	i	i	PRON
ejge-4303	200	2	iit	iit	VERB
ejge-4303	201	1	i	i	PRON
ejge-4303	201	2	it	it	PRON
ejge-4303	201	3	unemvixcapbor	unemvixcapbor	ADV
ejge-4303	201	4	sprinfspesi	sprinfspesi	PROPN
ejge-4303	201	5	debpubdebiunem	debpubdebiunem	PROPN
ejge-4303	201	6			PROPN
ejge-4303	201	7			PROPN
ejge-4303	201	8			ADP
ejge-4303	201	9			NOUN
ejge-4303	201	10			X
ejge-4303	201	11			NOUN
ejge-4303	201	12			PROPN
ejge-4303	201	13			NUM
ejge-4303	201	14			VERB
ejge-4303	201	15			NUM
ejge-4303	202	1			PROPN
ejge-4303	202	2			PROPN
ejge-4303	202	3			PROPN
ejge-4303	202	4			PROPN
ejge-4303	202	5			PROPN
ejge-4303	202	6			PROPN
ejge-4303	202	7			PROPN
ejge-4303	202	8			PROPN
ejge-4303	202	9			PROPN
ejge-4303	202	10			PROPN
ejge-4303	202	11			NUM
ejge-4303	202	12			PROPN
ejge-4303	202	13			PROPN
ejge-4303	202	14			PRON
ejge-4303	202	15	4	4	NUM
ejge-4303	202	16	1	1	NUM
ejge-4303	202	17	4	4	NUM
ejge-4303	202	18	0	0	NUM
ejge-4303	202	19	4	4	NUM
ejge-4303	202	20	0	0	NUM
ejge-4303	202	21	4	4	NUM
ejge-4303	202	22	0	0	NUM
ejge-4303	202	23	4	4	NUM
ejge-4303	202	24	0	0	NUM
ejge-4303	202	25	4	4	NUM
ejge-4303	202	26	0	0	NUM
ejge-4303	202	27	4	4	NUM
ejge-4303	202	28	0	0	NUM
ejge-4303	202	29	4	4	NUM
ejge-4303	202	30	0	0	NUM
ejge-4303	202	31	0	0	NUM
ejge-4303	203	1	_	_	PUNCT
ejge-4303	204	1	_	_	PUNCT
ejge-4303	205	1	_	_	PUNCT
ejge-4303	206	1	_	_	PUNCT
ejge-4303	206	2	.pr	.pr	PUNCT
ejge-4303	207	1	(	(	PUNCT
ejge-4303	207	2	2	2	NUM
ejge-4303	207	3	)	)	PUNCT
ejge-4303	207	4	where	where	SCONJ
ejge-4303	207	5	all	all	DET
ejge-4303	207	6	the	the	DET
ejge-4303	207	7	variables	variable	NOUN
ejge-4303	207	8	have	have	AUX
ejge-4303	207	9	been	be	AUX
ejge-4303	207	10	previously	previously	ADV
ejge-4303	207	11	defined	define	VERB
ejge-4303	207	12	.	.	PUNCT
ejge-4303	208	1	t	t	NOUN
ejge-4303	208	2	corresponds	correspond	VERB
ejge-4303	208	3	to	to	ADP
ejge-4303	208	4	the	the	DET
ejge-4303	208	5	random	random	ADJ
ejge-4303	208	6	disturbance	disturbance	NOUN
ejge-4303	208	7	,	,	PUNCT
ejge-4303	208	8	0	0	PROPN
ejge-4303	208	9	is	be	AUX
ejge-4303	208	10	the	the	DET
ejge-4303	208	11	intercept	intercept	NOUN
ejge-4303	208	12	of	of	ADP
ejge-4303	208	13	the	the	DET
ejge-4303	208	14	equation	equation	NOUN
ejge-4303	208	15	and	and	CCONJ
ejge-4303	208	16	i	i	ADJ
ejge-4303	208	17	i	i	NOUN
ejge-4303	208	18	,	,	PUNCT
ejge-4303	208	19	i	i	VERB
ejge-4303	208	20	,	,	PUNCT
ejge-4303	208	21	i	i	PROPN
ejge-4303	208	22	,	,	PUNCT
ejge-4303	208	23	i,i	i,i	PROPN
ejge-4303	208	24	,	,	PUNCT
ejge-4303	208	25	i	i	PUNCT
ejge-4303	208	26	and	and	CCONJ
ejge-4303	208	27	i	i	X
ejge-4303	208	28	correspond	correspond	VERB
ejge-4303	208	29	to	to	ADP
ejge-4303	208	30	the	the	DET
ejge-4303	208	31	coefficients	coefficient	NOUN
ejge-4303	208	32	of	of	ADP
ejge-4303	208	33	the	the	DET
ejge-4303	208	34	regressors	regressor	NOUN
ejge-4303	208	35	(	(	PUNCT
ejge-4303	208	36	including	include	VERB
ejge-4303	208	37	lags	lag	NOUN
ejge-4303	208	38	of	of	ADP
ejge-4303	208	39	the	the	DET
ejge-4303	208	40	dependent	dependent	ADJ
ejge-4303	208	41	variable	variable	NOUN
ejge-4303	208	42	)	)	PUNCT
ejge-4303	208	43	.	.	PUNCT
ejge-4303	209	1	the	the	DET
ejge-4303	209	2	corresponding	correspond	VERB
ejge-4303	209	3	ardl	ardl	NOUN
ejge-4303	209	4	models	model	NOUN
ejge-4303	209	5	are	be	AUX
ejge-4303	209	6	selected	select	VERB
ejge-4303	209	7	taking	take	VERB
ejge-4303	209	8	into	into	ADP
ejge-4303	209	9	account	account	NOUN
ejge-4303	209	10	four	four	NUM
ejge-4303	209	11	criteria	criterion	NOUN
ejge-4303	209	12	,	,	PUNCT
ejge-4303	209	13	namely	namely	ADV
ejge-4303	209	14	,	,	PUNCT
ejge-4303	209	15	the	the	DET
ejge-4303	209	16	r2	r2	PROPN
ejge-4303	209	17	,	,	PUNCT
ejge-4303	209	18	the	the	DET
ejge-4303	209	19	akaike	akaike	ADJ
ejge-4303	209	20	information	information	NOUN
ejge-4303	209	21	criterion	criterion	NOUN
ejge-4303	209	22	(	(	PUNCT
ejge-4303	209	23	aic	aic	PROPN
ejge-4303	209	24	)	)	PUNCT
ejge-4303	209	25	,	,	PUNCT
ejge-4303	209	26	the	the	DET
ejge-4303	209	27	schwarz	schwarz	PROPN
ejge-4303	209	28	bayesian	bayesian	NOUN
ejge-4303	209	29	information	information	NOUN
ejge-4303	209	30	criterion	criterion	NOUN
ejge-4303	209	31	(	(	PUNCT
ejge-4303	209	32	bic	bic	PROPN
ejge-4303	209	33	)	)	PUNCT
ejge-4303	209	34	and	and	CCONJ
ejge-4303	209	35	the	the	DET
ejge-4303	209	36	hannan	hannan	PROPN
ejge-4303	209	37	-	-	PUNCT
ejge-4303	209	38	quinn	quinn	PROPN
ejge-4303	209	39	information	information	NOUN
ejge-4303	209	40	criterion	criterion	NOUN
ejge-4303	209	41	(	(	PUNCT
ejge-4303	209	42	hq	hq	NOUN
ejge-4303	209	43	)	)	PUNCT
ejge-4303	209	44	,	,	PUNCT
ejge-4303	209	45	and	and	CCONJ
ejge-4303	209	46	setting	set	VERB
ejge-4303	209	47	a	a	DET
ejge-4303	209	48	maximum	maximum	NOUN
ejge-4303	209	49	of	of	ADP
ejge-4303	209	50	4	4	NUM
ejge-4303	209	51	lags	lag	NOUN
ejge-4303	209	52	as	as	SCONJ
ejge-4303	209	53	previously	previously	ADV
ejge-4303	209	54	indicated	indicate	VERB
ejge-4303	209	55	.	.	PUNCT
ejge-4303	210	1	thus	thus	ADV
ejge-4303	210	2	,	,	PUNCT
ejge-4303	210	3	as	as	SCONJ
ejge-4303	210	4	it	it	PRON
ejge-4303	210	5	can	can	AUX
ejge-4303	210	6	be	be	AUX
ejge-4303	210	7	seen	see	VERB
ejge-4303	210	8	in	in	ADP
ejge-4303	210	9	table	table	NOUN
ejge-4303	210	10	5	5	NUM
ejge-4303	210	11	,	,	PUNCT
ejge-4303	210	12	the	the	DET
ejge-4303	210	13	number	number	NOUN
ejge-4303	210	14	of	of	ADP
ejge-4303	210	15	lags	lag	NOUN
ejge-4303	210	16	to	to	PART
ejge-4303	210	17	be	be	AUX
ejge-4303	210	18	considered	consider	VERB
ejge-4303	210	19	is	be	AUX
ejge-4303	210	20	identical	identical	ADJ
ejge-4303	210	21	in	in	ADP
ejge-4303	210	22	all	all	DET
ejge-4303	210	23	four	four	NUM
ejge-4303	210	24	criteria	criterion	NOUN
ejge-4303	210	25	,	,	PUNCT
ejge-4303	210	26	except	except	SCONJ
ejge-4303	210	27	for	for	ADP
ejge-4303	210	28	pri_deb	pri_deb	ADJ
ejge-4303	210	29	(	(	PUNCT
ejge-4303	210	30	mostly	mostly	ADV
ejge-4303	210	31	two	two	NUM
ejge-4303	210	32	lags	lag	NOUN
ejge-4303	210	33	)	)	PUNCT
ejge-4303	210	34	,	,	PUNCT
ejge-4303	210	35	esi_sp	esi_sp	X
ejge-4303	210	36	(	(	PUNCT
ejge-4303	210	37	mostly	mostly	ADV
ejge-4303	210	38	four	four	NUM
ejge-4303	210	39	lags	lag	NOUN
ejge-4303	210	40	)	)	PUNCT
ejge-4303	210	41	,	,	PUNCT
ejge-4303	210	42	bor_cap	bor_cap	INTJ
ejge-4303	210	43	(	(	PUNCT
ejge-4303	210	44	mostly	mostly	ADV
ejge-4303	210	45	3	3	NUM
ejge-4303	210	46	lags	lag	NOUN
ejge-4303	210	47	)	)	PUNCT
ejge-4303	210	48	and	and	CCONJ
ejge-4303	210	49	vix	vix	PROPN
ejge-4303	210	50	(	(	PUNCT
ejge-4303	210	51	mostly	mostly	ADV
ejge-4303	210	52	no	no	DET
ejge-4303	210	53	lags	lag	NOUN
ejge-4303	210	54	)	)	PUNCT
ejge-4303	210	55	where	where	SCONJ
ejge-4303	210	56	some	some	DET
ejge-4303	210	57	small	small	ADJ
ejge-4303	210	58	differences	difference	NOUN
ejge-4303	210	59	were	be	AUX
ejge-4303	210	60	detected	detect	VERB
ejge-4303	210	61	.	.	PUNCT
ejge-4303	211	1	likewise	likewise	ADV
ejge-4303	211	2	,	,	PUNCT
ejge-4303	211	3	we	we	PRON
ejge-4303	211	4	emphasise	emphasise	VERB
ejge-4303	211	5	that	that	SCONJ
ejge-4303	211	6	the	the	DET
ejge-4303	211	7	results	result	NOUN
ejge-4303	211	8	obtained	obtain	VERB
ejge-4303	211	9	under	under	ADP
ejge-4303	211	10	the	the	DET
ejge-4303	211	11	hq	hq	NOUN
ejge-4303	211	12	criterion	criterion	NOUN
ejge-4303	211	13	are	be	AUX
ejge-4303	211	14	equal	equal	ADJ
ejge-4303	211	15	to	to	ADP
ejge-4303	211	16	those	those	PRON
ejge-4303	211	17	obtained	obtain	VERB
ejge-4303	211	18	in	in	ADP
ejge-4303	211	19	the	the	DET
ejge-4303	211	20	aic	aic	PROPN
ejge-4303	211	21	,	,	PUNCT
ejge-4303	211	22	so	so	ADV
ejge-4303	211	23	only	only	ADV
ejge-4303	211	24	the	the	DET
ejge-4303	211	25	results	result	NOUN
ejge-4303	211	26	of	of	ADP
ejge-4303	211	27	the	the	DET
ejge-4303	211	28	first	first	ADJ
ejge-4303	211	29	three	three	NUM
ejge-4303	211	30	criteria	criterion	NOUN
ejge-4303	211	31	(	(	PUNCT
ejge-4303	211	32	r2	r2	PROPN
ejge-4303	211	33	,	,	PUNCT
ejge-4303	211	34	aic	aic	PROPN
ejge-4303	211	35	and	and	CCONJ
ejge-4303	211	36	bic	bic	PROPN
ejge-4303	211	37	)	)	PUNCT
ejge-4303	211	38	will	will	AUX
ejge-4303	211	39	be	be	AUX
ejge-4303	211	40	specified	specify	VERB
ejge-4303	211	41	hereinafter	hereinafter	NOUN
ejge-4303	211	42	.	.	PUNCT
ejge-4303	212	1	european	european	ADJ
ejge-4303	212	2	journal	journal	PROPN
ejge-4303	212	3	of	of	ADP
ejge-4303	212	4	government	government	NOUN
ejge-4303	212	5	and	and	CCONJ
ejge-4303	212	6	economics	economic	NOUN
ejge-4303	212	7	3(2	3(2	NUM
ejge-4303	212	8	)	)	PUNCT
ejge-4303	212	9	156	156	NUM
ejge-4303	212	10	table	table	NOUN
ejge-4303	212	11	5	5	NUM
ejge-4303	212	12	.	.	PUNCT
ejge-4303	212	13	number	number	NOUN
ejge-4303	212	14	of	of	ADP
ejge-4303	212	15	lags	lag	NOUN
ejge-4303	212	16	to	to	PART
ejge-4303	212	17	be	be	AUX
ejge-4303	212	18	considered	consider	VERB
ejge-4303	212	19	for	for	ADP
ejge-4303	212	20	each	each	DET
ejge-4303	212	21	criterion	criterion	NOUN
ejge-4303	212	22	and	and	CCONJ
ejge-4303	212	23	for	for	ADP
ejge-4303	212	24	each	each	DET
ejge-4303	212	25	variable	variable	NOUN
ejge-4303	212	26	nº	nº	PROPN
ejge-4303	212	27	lags	lag	VERB
ejge-4303	212	28	unem	unem	PROPN
ejge-4303	212	29	pri_deb	pri_deb	PROPN
ejge-4303	212	30	pub_deb	pub_deb	PROPN
ejge-4303	212	31	esi_sp	esi_sp	PROPN
ejge-4303	213	1	inf	inf	PROPN
ejge-4303	213	2	spr	spr	PROPN
ejge-4303	213	3	bor_cap	bor_cap	PROPN
ejge-4303	213	4	vix	vix	PROPN
ejge-4303	213	5	r2	r2	PROPN
ejge-4303	213	6	criterion	criterion	NOUN
ejge-4303	213	7	3	3	NUM
ejge-4303	213	8	3	3	NUM
ejge-4303	213	9	0	0	NUM
ejge-4303	213	10	4	4	NUM
ejge-4303	213	11	0	0	NUM
ejge-4303	213	12	0	0	NUM
ejge-4303	213	13	3	3	NUM
ejge-4303	213	14	2	2	NUM
ejge-4303	213	15	aic	aic	PROPN
ejge-4303	213	16	3	3	NUM
ejge-4303	213	17	2	2	NUM
ejge-4303	213	18	0	0	NUM
ejge-4303	213	19	4	4	NUM
ejge-4303	213	20	0	0	NUM
ejge-4303	213	21	0	0	NUM
ejge-4303	213	22	3	3	NUM
ejge-4303	213	23	0	0	NUM
ejge-4303	213	24	bic	bic	PROPN
ejge-4303	213	25	3	3	NUM
ejge-4303	213	26	2	2	NUM
ejge-4303	213	27	0	0	NUM
ejge-4303	213	28	0	0	NUM
ejge-4303	213	29	0	0	NUM
ejge-4303	213	30	0	0	NUM
ejge-4303	213	31	2	2	NUM
ejge-4303	213	32	0	0	NUM
ejge-4303	213	33	hq	hq	NOUN
ejge-4303	213	34	criterion	criterion	NOUN
ejge-4303	213	35	3	3	NUM
ejge-4303	213	36	2	2	NUM
ejge-4303	213	37	0	0	NUM
ejge-4303	213	38	4	4	NUM
ejge-4303	213	39	0	0	NUM
ejge-4303	213	40	0	0	NUM
ejge-4303	213	41	3	3	NUM
ejge-4303	213	42	0	0	NUM
ejge-4303	213	43	long	long	ADJ
ejge-4303	213	44	and	and	CCONJ
ejge-4303	213	45	short	short	ADJ
ejge-4303	213	46	term	term	NOUN
ejge-4303	213	47	models	model	NOUN
ejge-4303	213	48	if	if	SCONJ
ejge-4303	213	49	two	two	NUM
ejge-4303	213	50	of	of	ADP
ejge-4303	213	51	more	more	ADJ
ejge-4303	213	52	variables	variable	NOUN
ejge-4303	213	53	are	be	AUX
ejge-4303	213	54	cointegrated	cointegrate	VERB
ejge-4303	213	55	,	,	PUNCT
ejge-4303	213	56	two	two	NUM
ejge-4303	213	57	types	type	NOUN
ejge-4303	213	58	of	of	ADP
ejge-4303	213	59	models	model	NOUN
ejge-4303	213	60	can	can	AUX
ejge-4303	213	61	be	be	AUX
ejge-4303	213	62	estimated	estimate	VERB
ejge-4303	213	63	.	.	PUNCT
ejge-4303	214	1	first	first	ADV
ejge-4303	214	2	,	,	PUNCT
ejge-4303	214	3	an	an	DET
ejge-4303	214	4	ols	ol	NOUN
ejge-4303	214	5	regression	regression	NOUN
ejge-4303	214	6	model	model	NOUN
ejge-4303	214	7	using	use	VERB
ejge-4303	214	8	the	the	DET
ejge-4303	214	9	levels	level	NOUN
ejge-4303	214	10	of	of	ADP
ejge-4303	214	11	the	the	DET
ejge-4303	214	12	data	datum	NOUN
ejge-4303	214	13	.	.	PUNCT
ejge-4303	215	1	this	this	DET
ejge-4303	215	2	model	model	NOUN
ejge-4303	215	3	will	will	AUX
ejge-4303	215	4	provide	provide	VERB
ejge-4303	215	5	the	the	DET
ejge-4303	215	6	long	long	ADV
ejge-4303	215	7	-	-	PUNCT
ejge-4303	215	8	run	run	NOUN
ejge-4303	215	9	equilibrating	equilibrating	NOUN
ejge-4303	215	10	relationship	relationship	NOUN
ejge-4303	215	11	between	between	ADP
ejge-4303	215	12	the	the	DET
ejge-4303	215	13	variables	variable	NOUN
ejge-4303	215	14	.	.	PUNCT
ejge-4303	216	1	second	second	ADJ
ejge-4303	216	2	,	,	PUNCT
ejge-4303	216	3	and	and	CCONJ
ejge-4303	216	4	errorcorrection	errorcorrection	NOUN
ejge-4303	216	5	model	model	NOUN
ejge-4303	216	6	(	(	PUNCT
ejge-4303	216	7	ecm	ecm	PROPN
ejge-4303	216	8	)	)	PUNCT
ejge-4303	216	9	,	,	PUNCT
ejge-4303	216	10	estimated	estimate	VERB
ejge-4303	216	11	by	by	ADP
ejge-4303	216	12	ols	ol	NOUN
ejge-4303	216	13	too	too	ADV
ejge-4303	216	14	,	,	PUNCT
ejge-4303	216	15	but	but	CCONJ
ejge-4303	216	16	using	use	VERB
ejge-4303	216	17	the	the	DET
ejge-4303	216	18	differences	difference	NOUN
ejge-4303	216	19	of	of	ADP
ejge-4303	216	20	the	the	DET
ejge-4303	216	21	data	datum	NOUN
ejge-4303	216	22	.	.	PUNCT
ejge-4303	217	1	this	this	DET
ejge-4303	217	2	model	model	NOUN
ejge-4303	217	3	will	will	AUX
ejge-4303	217	4	represent	represent	VERB
ejge-4303	217	5	the	the	DET
ejge-4303	217	6	short	short	ADJ
ejge-4303	217	7	-	-	PUNCT
ejge-4303	217	8	run	run	NOUN
ejge-4303	217	9	dynamics	dynamic	NOUN
ejge-4303	217	10	of	of	ADP
ejge-4303	217	11	the	the	DET
ejge-4303	217	12	relationships	relationship	NOUN
ejge-4303	217	13	between	between	ADP
ejge-4303	217	14	the	the	DET
ejge-4303	217	15	variables	variable	NOUN
ejge-4303	217	16	.	.	PUNCT
ejge-4303	218	1	once	once	ADV
ejge-4303	218	2	established	establish	VERB
ejge-4303	218	3	the	the	DET
ejge-4303	218	4	existence	existence	NOUN
ejge-4303	218	5	of	of	ADP
ejge-4303	218	6	a	a	DET
ejge-4303	218	7	long	long	ADJ
ejge-4303	218	8	-	-	PUNCT
ejge-4303	218	9	term	term	NOUN
ejge-4303	218	10	relationship	relationship	NOUN
ejge-4303	218	11	between	between	ADP
ejge-4303	218	12	the	the	DET
ejge-4303	218	13	variables	variable	NOUN
ejge-4303	218	14	through	through	ADP
ejge-4303	218	15	the	the	DET
ejge-4303	218	16	bound	bound	ADJ
ejge-4303	218	17	test	test	NOUN
ejge-4303	218	18	,	,	PUNCT
ejge-4303	218	19	the	the	DET
ejge-4303	218	20	ardl	ardl	NOUN
ejge-4303	218	21	model	model	NOUN
ejge-4303	218	22	allows	allow	VERB
ejge-4303	218	23	us	we	PRON
ejge-4303	218	24	to	to	PART
ejge-4303	218	25	analyse	analyse	VERB
ejge-4303	218	26	relationships	relationship	NOUN
ejge-4303	218	27	in	in	ADP
ejge-4303	218	28	both	both	CCONJ
ejge-4303	218	29	the	the	DET
ejge-4303	218	30	long	long	ADJ
ejge-4303	218	31	and	and	CCONJ
ejge-4303	218	32	short	short	ADJ
ejge-4303	218	33	term	term	NOUN
ejge-4303	218	34	.	.	PUNCT
ejge-4303	219	1	long	long	ADJ
ejge-4303	219	2	-	-	PUNCT
ejge-4303	219	3	term	term	NOUN
ejge-4303	219	4	model	model	NOUN
ejge-4303	219	5	the	the	DET
ejge-4303	219	6	coefficients	coefficient	NOUN
ejge-4303	219	7	of	of	ADP
ejge-4303	219	8	the	the	DET
ejge-4303	219	9	long	long	ADJ
ejge-4303	219	10	-	-	PUNCT
ejge-4303	219	11	term	term	NOUN
ejge-4303	219	12	model	model	NOUN
ejge-4303	219	13	obtained	obtain	VERB
ejge-4303	219	14	for	for	ADP
ejge-4303	219	15	each	each	PRON
ejge-4303	219	16	of	of	ADP
ejge-4303	219	17	the	the	DET
ejge-4303	219	18	estimations	estimation	NOUN
ejge-4303	219	19	are	be	AUX
ejge-4303	219	20	shown	show	VERB
ejge-4303	219	21	in	in	ADP
ejge-4303	219	22	table	table	NOUN
ejge-4303	219	23	6	6	NUM
ejge-4303	219	24	:	:	PUNCT
ejge-4303	219	25	table	table	NOUN
ejge-4303	219	26	6	6	NUM
ejge-4303	219	27	.	.	PUNCT
ejge-4303	220	1	ardl	ardl	NOUN
ejge-4303	220	2	coefficients	coefficient	NOUN
ejge-4303	220	3	in	in	ADP
ejge-4303	220	4	the	the	DET
ejge-4303	220	5	long	long	ADJ
ejge-4303	220	6	term	term	NOUN
ejge-4303	220	7	model	model	NOUN
ejge-4303	220	8	variable	variable	ADJ
ejge-4303	220	9	r2	r2	PROPN
ejge-4303	220	10	criterion	criterion	NOUN
ejge-4303	220	11	aic	aic	PROPN
ejge-4303	220	12	bic	bic	PROPN
ejge-4303	220	13	pri_deb	pri_deb	PROPN
ejge-4303	220	14	-0.0537	-0.0537	NOUN
ejge-4303	220	15	*	*	PUNCT
ejge-4303	221	1	*	*	PUNCT
ejge-4303	221	2	*	*	PUNCT
ejge-4303	221	3	(	(	PUNCT
ejge-4303	221	4	-4.7174	-4.7174	ADV
ejge-4303	221	5	)	)	PUNCT
ejge-4303	221	6	-0.5621	-0.5621	PUNCT
ejge-4303	222	1	*	*	PUNCT
ejge-4303	222	2	*	*	PUNCT
ejge-4303	222	3	*	*	PUNCT
ejge-4303	222	4	(	(	PUNCT
ejge-4303	222	5	-4.1903	-4.1903	NOUN
ejge-4303	222	6	)	)	PUNCT
ejge-4303	222	7	-0.0422	-0.0422	NOUN
ejge-4303	222	8	(	(	PUNCT
ejge-4303	222	9	-1.1052	-1.1052	NOUN
ejge-4303	222	10	)	)	PUNCT
ejge-4303	222	11	pub_deb	pub_deb	VERB
ejge-4303	223	1	0.3316	0.3316	NUM
ejge-4303	223	2	*	*	PUNCT
ejge-4303	223	3	*	*	PUNCT
ejge-4303	223	4	*	*	PUNCT
ejge-4303	223	5	(	(	PUNCT
ejge-4303	223	6	5.2437	5.2437	NUM
ejge-4303	223	7	)	)	PUNCT
ejge-4303	223	8	0.3233	0.3233	NUM
ejge-4303	223	9	*	*	PUNCT
ejge-4303	223	10	*	*	PUNCT
ejge-4303	223	11	*	*	PUNCT
ejge-4303	223	12	(	(	PUNCT
ejge-4303	223	13	4.3905	4.3905	NUM
ejge-4303	223	14	)	)	PUNCT
ejge-4303	223	15	0.1139	0.1139	NUM
ejge-4303	223	16	(	(	PUNCT
ejge-4303	223	17	0.4779	0.4779	NUM
ejge-4303	223	18	)	)	PUNCT
ejge-4303	223	19	esi_sp	esi_sp	X
ejge-4303	224	1	-0.5347	-0.5347	PROPN
ejge-4303	224	2	*	*	PUNCT
ejge-4303	225	1	*	*	PUNCT
ejge-4303	225	2	*	*	PUNCT
ejge-4303	225	3	(	(	PUNCT
ejge-4303	225	4	-5.8873	-5.8873	NOUN
ejge-4303	225	5	)	)	PUNCT
ejge-4303	225	6	-0.5976	-0.5976	NOUN
ejge-4303	226	1	*	*	PUNCT
ejge-4303	226	2	*	*	PUNCT
ejge-4303	226	3	*	*	PUNCT
ejge-4303	226	4	(	(	PUNCT
ejge-4303	226	5	-5.3191	-5.3191	PROPN
ejge-4303	226	6	)	)	PUNCT
ejge-4303	226	7	-1.1600	-1.1600	PROPN
ejge-4303	227	1	*	*	PUNCT
ejge-4303	227	2	*	*	PUNCT
ejge-4303	227	3	*	*	PUNCT
ejge-4303	227	4	(	(	PUNCT
ejge-4303	227	5	-1.9309	-1.9309	NOUN
ejge-4303	227	6	)	)	PUNCT
ejge-4303	227	7	inf	inf	NOUN
ejge-4303	227	8	-0.8710	-0.8710	NOUN
ejge-4303	227	9	*	*	PUNCT
ejge-4303	227	10	*	*	PUNCT
ejge-4303	227	11	(	(	PUNCT
ejge-4303	227	12	-3.3095	-3.3095	NOUN
ejge-4303	227	13	)	)	PUNCT
ejge-4303	227	14	-0.8841	-0.8841	PUNCT
ejge-4303	228	1	*	*	PUNCT
ejge-4303	228	2	*	*	PUNCT
ejge-4303	228	3	(	(	PUNCT
ejge-4303	228	4	-2.9335	-2.9335	X
ejge-4303	228	5	)	)	PUNCT
ejge-4303	228	6	-1.6693	-1.6693	VERB
ejge-4303	228	7	(	(	PUNCT
ejge-4303	228	8	-1.5124	-1.5124	NOUN
ejge-4303	228	9	)	)	PUNCT
ejge-4303	229	1	spr	spr	NOUN
ejge-4303	230	1	0.4548	0.4548	NUM
ejge-4303	230	2	(	(	PUNCT
ejge-4303	230	3	1.2591	1.2591	NUM
ejge-4303	230	4	)	)	PUNCT
ejge-4303	230	5	0.5723	0.5723	NUM
ejge-4303	230	6	(	(	PUNCT
ejge-4303	230	7	1.3861	1.3861	NUM
ejge-4303	230	8	)	)	PUNCT
ejge-4303	230	9	0.9490	0.9490	NUM
ejge-4303	230	10	(	(	PUNCT
ejge-4303	230	11	0.8149	0.8149	NUM
ejge-4303	230	12	)	)	PUNCT
ejge-4303	231	1	bor_cap	bor_cap	NOUN
ejge-4303	231	2	-0.9932	-0.9932	NOUN
ejge-4303	231	3	*	*	PUNCT
ejge-4303	231	4	*	*	PUNCT
ejge-4303	231	5	(	(	PUNCT
ejge-4303	231	6	-3.2426	-3.2426	PROPN
ejge-4303	231	7	)	)	PUNCT
ejge-4303	231	8	-1.0212	-1.0212	PUNCT
ejge-4303	232	1	*	*	PUNCT
ejge-4303	232	2	*	*	PUNCT
ejge-4303	232	3	(	(	PUNCT
ejge-4303	232	4	-2.8412	-2.8412	PROPN
ejge-4303	232	5	)	)	PUNCT
ejge-4303	232	6	-1.0300	-1.0300	PUNCT
ejge-4303	233	1	(	(	PUNCT
ejge-4303	233	2	-0.9740	-0.9740	X
ejge-4303	233	3	)	)	PUNCT
ejge-4303	233	4	vix	vix	PROPN
ejge-4303	233	5	0.0191	0.0191	NUM
ejge-4303	233	6	(	(	PUNCT
ejge-4303	233	7	0.3307	0.3307	NUM
ejge-4303	233	8	)	)	PUNCT
ejge-4303	233	9	0.0805	0.0805	NUM
ejge-4303	233	10	(	(	PUNCT
ejge-4303	233	11	1.4517	1.4517	NUM
ejge-4303	233	12	)	)	PUNCT
ejge-4303	233	13	0.2818	0.2818	NUM
ejge-4303	233	14	(	(	PUNCT
ejge-4303	233	15	1.2228	1.2228	NUM
ejge-4303	233	16	)	)	PUNCT
ejge-4303	233	17	c	c	NOUN
ejge-4303	233	18	59.4954	59.4954	NUM
ejge-4303	233	19	*	*	PUNCT
ejge-4303	233	20	*	*	PUNCT
ejge-4303	233	21	*	*	PUNCT
ejge-4303	233	22	(	(	PUNCT
ejge-4303	233	23	6.2485	6.2485	NUM
ejge-4303	233	24	)	)	PUNCT
ejge-4303	233	25	65.1116	65.1116	NUM
ejge-4303	233	26	*	*	PUNCT
ejge-4303	233	27	*	*	PUNCT
ejge-4303	234	1	*	*	PUNCT
ejge-4303	234	2	(	(	PUNCT
ejge-4303	234	3	5.5120	5.5120	NUM
ejge-4303	234	4	)	)	PUNCT
ejge-4303	234	5	132.1281	132.1281	NUM
ejge-4303	234	6	*	*	SYM
ejge-4303	234	7	*	*	PUNCT
ejge-4303	234	8	(	(	PUNCT
ejge-4303	234	9	2.0086	2.0086	NUM
ejge-4303	234	10	)	)	PUNCT
ejge-4303	234	11	*	*	PUNCT
ejge-4303	234	12	indicates	indicate	VERB
ejge-4303	234	13	significance	significance	NOUN
ejge-4303	234	14	at	at	ADP
ejge-4303	234	15	10	10	NUM
ejge-4303	234	16	%	%	NOUN
ejge-4303	234	17	,	,	PUNCT
ejge-4303	234	18	*	*	PUNCT
ejge-4303	234	19	*	*	PUNCT
ejge-4303	234	20	at	at	ADP
ejge-4303	234	21	5	5	NUM
ejge-4303	234	22	%	%	NOUN
ejge-4303	234	23	and	and	CCONJ
ejge-4303	234	24	*	*	NOUN
ejge-4303	234	25	*	*	PUNCT
ejge-4303	234	26	*	*	PUNCT
ejge-4303	234	27	at	at	ADP
ejge-4303	234	28	1	1	NUM
ejge-4303	234	29	%	%	NOUN
ejge-4303	234	30	.	.	PUNCT
ejge-4303	235	1	in	in	ADP
ejge-4303	235	2	brackets	bracket	NOUN
ejge-4303	235	3	,	,	PUNCT
ejge-4303	235	4	values	value	NOUN
ejge-4303	235	5	of	of	ADP
ejge-4303	235	6	the	the	DET
ejge-4303	235	7	t	t	PROPN
ejge-4303	235	8	statistic	statistic	NOUN
ejge-4303	235	9	the	the	DET
ejge-4303	235	10	signs	sign	NOUN
ejge-4303	235	11	of	of	ADP
ejge-4303	235	12	the	the	DET
ejge-4303	235	13	numbers	number	NOUN
ejge-4303	235	14	in	in	ADP
ejge-4303	235	15	table	table	NOUN
ejge-4303	235	16	6	6	NUM
ejge-4303	235	17	show	show	VERB
ejge-4303	235	18	the	the	DET
ejge-4303	235	19	kind	kind	NOUN
ejge-4303	235	20	of	of	ADP
ejge-4303	235	21	long	long	ADJ
ejge-4303	235	22	term	term	NOUN
ejge-4303	235	23	relationship	relationship	NOUN
ejge-4303	235	24	that	that	PRON
ejge-4303	235	25	each	each	PRON
ejge-4303	235	26	of	of	ADP
ejge-4303	235	27	the	the	DET
ejge-4303	235	28	regressors	regressor	NOUN
ejge-4303	235	29	has	have	VERB
ejge-4303	235	30	with	with	ADP
ejge-4303	235	31	the	the	DET
ejge-4303	235	32	dependent	dependent	ADJ
ejge-4303	235	33	variable	variable	NOUN
ejge-4303	235	34	,	,	PUNCT
ejge-4303	235	35	i.e.	i.e.	X
ejge-4303	235	36	,	,	PUNCT
ejge-4303	235	37	the	the	DET
ejge-4303	235	38	unemployment	unemployment	NOUN
ejge-4303	235	39	rate	rate	NOUN
ejge-4303	235	40	(	(	PUNCT
ejge-4303	235	41	unem	unem	PROPN
ejge-4303	235	42	)	)	PUNCT
ejge-4303	235	43	.	.	PUNCT
ejge-4303	236	1	from	from	ADP
ejge-4303	236	2	their	their	PRON
ejge-4303	236	3	analysis	analysis	NOUN
ejge-4303	236	4	we	we	PRON
ejge-4303	236	5	can	can	AUX
ejge-4303	236	6	draw	draw	VERB
ejge-4303	236	7	the	the	DET
ejge-4303	236	8	following	follow	VERB
ejge-4303	236	9	preliminary	preliminary	ADJ
ejge-4303	236	10	evidences	evidence	NOUN
ejge-4303	236	11	previously	previously	ADV
ejge-4303	236	12	to	to	ADP
ejge-4303	236	13	the	the	DET
ejge-4303	236	14	results	result	NOUN
ejge-4303	236	15	of	of	ADP
ejge-4303	236	16	the	the	DET
ejge-4303	236	17	causality	causality	NOUN
ejge-4303	236	18	tests	test	NOUN
ejge-4303	236	19	that	that	PRON
ejge-4303	236	20	will	will	AUX
ejge-4303	236	21	be	be	AUX
ejge-4303	236	22	commented	comment	VERB
ejge-4303	236	23	later	later	ADV
ejge-4303	236	24	.	.	PUNCT
ejge-4303	237	1	-the	-the	DET
ejge-4303	237	2	only	only	ADJ
ejge-4303	237	3	variable	variable	NOUN
ejge-4303	237	4	that	that	PRON
ejge-4303	237	5	is	be	AUX
ejge-4303	237	6	significant	significant	ADJ
ejge-4303	237	7	in	in	ADP
ejge-4303	237	8	all	all	DET
ejge-4303	237	9	four	four	NUM
ejge-4303	237	10	criteria	criterion	NOUN
ejge-4303	237	11	is	be	AUX
ejge-4303	237	12	the	the	DET
ejge-4303	237	13	confidence	confidence	NOUN
ejge-4303	237	14	measured	measure	VERB
ejge-4303	237	15	through	through	ADP
ejge-4303	237	16	the	the	DET
ejge-4303	237	17	economic	economic	ADJ
ejge-4303	237	18	sentiment	sentiment	NOUN
ejge-4303	237	19	indicator	indicator	NOUN
ejge-4303	237	20	in	in	ADP
ejge-4303	237	21	spain	spain	PROPN
ejge-4303	237	22	.	.	PUNCT
ejge-4303	238	1	in	in	ADP
ejge-4303	238	2	this	this	DET
ejge-4303	238	3	sense	sense	NOUN
ejge-4303	238	4	we	we	PRON
ejge-4303	238	5	could	could	AUX
ejge-4303	238	6	confirm	confirm	VERB
ejge-4303	238	7	that	that	SCONJ
ejge-4303	238	8	increases	increase	NOUN
ejge-4303	238	9	in	in	ADP
ejge-4303	238	10	the	the	DET
ejge-4303	238	11	confidence	confidence	NOUN
ejge-4303	238	12	are	be	AUX
ejge-4303	238	13	associated	associate	VERB
ejge-4303	238	14	with	with	ADP
ejge-4303	238	15	decreases	decrease	NOUN
ejge-4303	238	16	in	in	ADP
ejge-4303	238	17	the	the	DET
ejge-4303	238	18	level	level	NOUN
ejge-4303	238	19	of	of	ADP
ejge-4303	238	20	unemployment	unemployment	NOUN
ejge-4303	238	21	in	in	ADP
ejge-4303	238	22	this	this	DET
ejge-4303	238	23	country	country	NOUN
ejge-4303	238	24	.	.	PUNCT
ejge-4303	239	1	-neither	-neither	PROPN
ejge-4303	239	2	risk	risk	NOUN
ejge-4303	239	3	premium	premium	NOUN
ejge-4303	239	4	nor	nor	CCONJ
ejge-4303	239	5	vix	vix	NOUN
ejge-4303	239	6	volatility	volatility	NOUN
ejge-4303	239	7	are	be	AUX
ejge-4303	239	8	significant	significant	ADJ
ejge-4303	239	9	variables	variable	NOUN
ejge-4303	239	10	in	in	ADP
ejge-4303	239	11	any	any	PRON
ejge-4303	239	12	of	of	ADP
ejge-4303	239	13	the	the	DET
ejge-4303	239	14	criteria	criterion	NOUN
ejge-4303	239	15	considered	consider	VERB
ejge-4303	239	16	,	,	PUNCT
ejge-4303	239	17	that	that	ADV
ejge-4303	239	18	is	is	ADV
ejge-4303	239	19	,	,	PUNCT
ejge-4303	239	20	neither	neither	CCONJ
ejge-4303	239	21	the	the	DET
ejge-4303	239	22	yield	yield	NOUN
ejge-4303	239	23	of	of	ADP
ejge-4303	239	24	spanish	spanish	ADJ
ejge-4303	239	25	debt	debt	NOUN
ejge-4303	239	26	versus	versus	ADP
ejge-4303	239	27	german	german	ADJ
ejge-4303	239	28	debt	debt	NOUN
ejge-4303	239	29	nor	nor	CCONJ
ejge-4303	239	30	vix	vix	NOUN
ejge-4303	239	31	should	should	AUX
ejge-4303	239	32	be	be	AUX
ejge-4303	239	33	considered	consider	VERB
ejge-4303	239	34	as	as	ADP
ejge-4303	239	35	regressors	regressor	NOUN
ejge-4303	239	36	when	when	SCONJ
ejge-4303	239	37	determining	determine	VERB
ejge-4303	239	38	long	long	ADJ
ejge-4303	239	39	-	-	PUNCT
ejge-4303	239	40	term	term	NOUN
ejge-4303	239	41	unemployment	unemployment	NOUN
ejge-4303	239	42	in	in	ADP
ejge-4303	239	43	spain	spain	PROPN
ejge-4303	239	44	.	.	PUNCT
ejge-4303	240	1	short	short	ADJ
ejge-4303	240	2	term	term	NOUN
ejge-4303	240	3	model	model	NOUN
ejge-4303	240	4	an	an	DET
ejge-4303	240	5	error	error	NOUN
ejge-4303	240	6	-	-	PUNCT
ejge-4303	240	7	correction	correction	NOUN
ejge-4303	240	8	model	model	NOUN
ejge-4303	240	9	(	(	PUNCT
ejge-4303	240	10	ecm	ecm	PROPN
ejge-4303	240	11	)	)	PUNCT
ejge-4303	240	12	was	be	AUX
ejge-4303	240	13	formulated	formulate	VERB
ejge-4303	240	14	in	in	ADP
ejge-4303	240	15	order	order	NOUN
ejge-4303	240	16	to	to	PART
ejge-4303	240	17	determine	determine	VERB
ejge-4303	240	18	the	the	DET
ejge-4303	240	19	shortterm	shortterm	PROPN
ejge-4303	240	20	behaviour	behaviour	NOUN
ejge-4303	240	21	of	of	ADP
ejge-4303	240	22	the	the	DET
ejge-4303	240	23	variables	variable	NOUN
ejge-4303	240	24	included	include	VERB
ejge-4303	240	25	in	in	ADP
ejge-4303	240	26	our	our	PRON
ejge-4303	240	27	analysis	analysis	NOUN
ejge-4303	240	28	.	.	PUNCT
ejge-4303	241	1	the	the	DET
ejge-4303	241	2	formulation	formulation	NOUN
ejge-4303	241	3	of	of	ADP
ejge-4303	241	4	the	the	DET
ejge-4303	241	5	castellanos	castellano	NOUN
ejge-4303	241	6	et	et	PROPN
ejge-4303	241	7	al	al	PROPN
ejge-4303	241	8	.	.	PUNCT
ejge-4303	242	1	●	●	PUNCT
ejge-4303	242	2	the	the	DET
ejge-4303	242	3	role	role	NOUN
ejge-4303	242	4	of	of	ADP
ejge-4303	242	5	confidence	confidence	NOUN
ejge-4303	242	6	in	in	ADP
ejge-4303	242	7	the	the	DET
ejge-4303	242	8	evolution	evolution	NOUN
ejge-4303	242	9	of	of	ADP
ejge-4303	242	10	the	the	DET
ejge-4303	242	11	spanish	spanish	ADJ
ejge-4303	242	12	economy	economy	NOUN
ejge-4303	242	13	157	157	NUM
ejge-4303	242	14	ecm	ecm	NOUN
ejge-4303	242	15	,	,	PUNCT
ejge-4303	242	16	allows	allow	VERB
ejge-4303	242	17	us	we	PRON
ejge-4303	242	18	to	to	PART
ejge-4303	242	19	analyse	analyse	VERB
ejge-4303	242	20	the	the	DET
ejge-4303	242	21	impact	impact	NOUN
ejge-4303	242	22	of	of	ADP
ejge-4303	242	23	a	a	DET
ejge-4303	242	24	"	"	PUNCT
ejge-4303	242	25	shock	shock	NOUN
ejge-4303	242	26	"	"	PUNCT
ejge-4303	242	27	on	on	ADP
ejge-4303	242	28	the	the	DET
ejge-4303	242	29	variables	variable	NOUN
ejge-4303	242	30	of	of	ADP
ejge-4303	242	31	the	the	DET
ejge-4303	242	32	model	model	NOUN
ejge-4303	242	33	as	as	ADV
ejge-4303	242	34	well	well	ADV
ejge-4303	242	35	as	as	ADP
ejge-4303	242	36	the	the	DET
ejge-4303	242	37	adjustment	adjustment	NOUN
ejge-4303	242	38	time	time	NOUN
ejge-4303	242	39	needed	need	VERB
ejge-4303	242	40	to	to	PART
ejge-4303	242	41	return	return	VERB
ejge-4303	242	42	to	to	ADP
ejge-4303	242	43	a	a	DET
ejge-4303	242	44	situation	situation	NOUN
ejge-4303	242	45	of	of	ADP
ejge-4303	242	46	equilibrium	equilibrium	NOUN
ejge-4303	242	47	.	.	PUNCT
ejge-4303	243	1	this	this	DET
ejge-4303	243	2	model	model	NOUN
ejge-4303	243	3	can	can	AUX
ejge-4303	243	4	be	be	AUX
ejge-4303	243	5	expressed	express	VERB
ejge-4303	243	6	as	as	SCONJ
ejge-4303	243	7	follows	follow	VERB
ejge-4303	243	8	:	:	PUNCT
ejge-4303	243	9	tit	tit	NOUN
ejge-4303	244	1	i	i	PRON
ejge-4303	244	2	i	i	PRON
ejge-4303	245	1	i	i	PRON
ejge-4303	245	2	iti	iti	INTJ
ejge-4303	246	1	i	i	PRON
ejge-4303	246	2	iti	iti	INTJ
ejge-4303	246	3	it	it	PRON
ejge-4303	247	1	i	i	PRON
ejge-4303	247	2	iit	iit	VERB
ejge-4303	248	1	i	i	PRON
ejge-4303	248	2	iit	iit	VERB
ejge-4303	249	1	i	i	PRON
ejge-4303	249	2	i	i	PRON
ejge-4303	249	3	it	it	PRON
ejge-4303	250	1	i	i	PRON
ejge-4303	250	2	iit	iit	VERB
ejge-4303	251	1	i	i	PRON
ejge-4303	251	2	itt	itt	PROPN
ejge-4303	251	3	unemvixcapbor	unemvixcapbor	PROPN
ejge-4303	251	4	sprinfspesi	sprinfspesi	PROPN
ejge-4303	251	5	debpubdebieunem	debpubdebieunem	PROPN
ejge-4303	251	6			PROPN
ejge-4303	251	7			PROPN
ejge-4303	251	8			NUM
ejge-4303	251	9			ADV
ejge-4303	251	10			X
ejge-4303	251	11			PUNCT
ejge-4303	251	12			NOUN
ejge-4303	251	13			NUM
ejge-4303	251	14			VERB
ejge-4303	251	15			NUM
ejge-4303	251	16			PROPN
ejge-4303	251	17			PROPN
ejge-4303	251	18			PROPN
ejge-4303	251	19			PROPN
ejge-4303	251	20			PROPN
ejge-4303	251	21			PROPN
ejge-4303	251	22			PROPN
ejge-4303	251	23			PROPN
ejge-4303	251	24			PROPN
ejge-4303	251	25			PROPN
ejge-4303	251	26			PROPN
ejge-4303	251	27			PROPN
ejge-4303	251	28			PROPN
ejge-4303	251	29			PROPN
ejge-4303	251	30			PRON
ejge-4303	251	31	4	4	NUM
ejge-4303	251	32	1	1	NUM
ejge-4303	251	33	4	4	NUM
ejge-4303	251	34	0	0	NUM
ejge-4303	251	35	4	4	NUM
ejge-4303	251	36	0	0	NUM
ejge-4303	251	37	4	4	NUM
ejge-4303	251	38	0	0	NUM
ejge-4303	251	39	4	4	NUM
ejge-4303	251	40	0	0	NUM
ejge-4303	251	41	4	4	NUM
ejge-4303	251	42	0	0	NUM
ejge-4303	251	43	4	4	NUM
ejge-4303	251	44	0	0	NUM
ejge-4303	251	45	4	4	NUM
ejge-4303	251	46	0	0	NUM
ejge-4303	251	47	10	10	NUM
ejge-4303	251	48	_	_	PUNCT
ejge-4303	252	1	_	_	PUNCT
ejge-4303	253	1	_	_	PUNCT
ejge-4303	254	1	_	_	PUNCT
ejge-4303	254	2	.pr	.pr	PUNCT
ejge-4303	255	1	(	(	PUNCT
ejge-4303	255	2	3	3	X
ejge-4303	255	3	)	)	PUNCT
ejge-4303	255	4	where	where	SCONJ
ejge-4303	255	5	et-1	et-1	ADV
ejge-4303	255	6	is	be	AUX
ejge-4303	255	7	the	the	DET
ejge-4303	255	8	error	error	NOUN
ejge-4303	255	9	correction	correction	NOUN
ejge-4303	255	10	lagged	lag	VERB
ejge-4303	255	11	one	one	NUM
ejge-4303	255	12	period	period	NOUN
ejge-4303	255	13	,	,	PUNCT
ejge-4303	255	14	t	t	X
ejge-4303	255	15	corresponds	correspond	VERB
ejge-4303	255	16	to	to	ADP
ejge-4303	255	17	the	the	DET
ejge-4303	255	18	random	random	ADJ
ejge-4303	255	19	disturbance	disturbance	NOUN
ejge-4303	255	20	,	,	PUNCT
ejge-4303	255	21	0	0	PROPN
ejge-4303	255	22	is	be	AUX
ejge-4303	255	23	the	the	DET
ejge-4303	255	24	intercept	intercept	NOUN
ejge-4303	255	25	of	of	ADP
ejge-4303	255	26	the	the	DET
ejge-4303	255	27	equation	equation	NOUN
ejge-4303	255	28	and	and	CCONJ
ejge-4303	255	29	i	i	ADJ
ejge-4303	255	30	i	i	NOUN
ejge-4303	255	31	,	,	PUNCT
ejge-4303	255	32	i	i	VERB
ejge-4303	255	33	,	,	PUNCT
ejge-4303	255	34	i	i	PROPN
ejge-4303	255	35	,	,	PUNCT
ejge-4303	255	36	i,i	i,i	PROPN
ejge-4303	255	37	,	,	PUNCT
ejge-4303	255	38	i	i	PUNCT
ejge-4303	255	39	and	and	CCONJ
ejge-4303	255	40	i	i	NOUN
ejge-4303	255	41	are	be	AUX
ejge-4303	255	42	the	the	DET
ejge-4303	255	43	coefficients	coefficient	NOUN
ejge-4303	255	44	of	of	ADP
ejge-4303	255	45	the	the	DET
ejge-4303	255	46	regressors	regressor	NOUN
ejge-4303	255	47	(	(	PUNCT
ejge-4303	255	48	including	include	VERB
ejge-4303	255	49	lags	lag	NOUN
ejge-4303	255	50	of	of	ADP
ejge-4303	255	51	the	the	DET
ejge-4303	255	52	dependent	dependent	ADJ
ejge-4303	255	53	variable	variable	NOUN
ejge-4303	255	54	)	)	PUNCT
ejge-4303	255	55	.	.	PUNCT
ejge-4303	256	1	first	first	ADV
ejge-4303	256	2	of	of	ADP
ejge-4303	256	3	all	all	PRON
ejge-4303	256	4	,	,	PUNCT
ejge-4303	256	5	in	in	ADP
ejge-4303	256	6	order	order	NOUN
ejge-4303	256	7	to	to	PART
ejge-4303	256	8	use	use	VERB
ejge-4303	256	9	the	the	DET
ejge-4303	256	10	results	result	NOUN
ejge-4303	256	11	of	of	ADP
ejge-4303	256	12	the	the	DET
ejge-4303	256	13	estimation	estimation	NOUN
ejge-4303	256	14	,	,	PUNCT
ejge-4303	256	15	we	we	PRON
ejge-4303	256	16	have	have	VERB
ejge-4303	256	17	to	to	PART
ejge-4303	256	18	check	check	VERB
ejge-4303	256	19	both	both	DET
ejge-4303	256	20	the	the	DET
ejge-4303	256	21	significance	significance	NOUN
ejge-4303	256	22	of	of	ADP
ejge-4303	256	23	the	the	DET
ejge-4303	256	24	error	error	NOUN
ejge-4303	256	25	correction	correction	NOUN
ejge-4303	256	26	lagged	lag	VERB
ejge-4303	256	27	one	one	NUM
ejge-4303	256	28	period	period	NOUN
ejge-4303	256	29	,	,	PUNCT
ejge-4303	256	30	et-1	et-1	X
ejge-4303	256	31	,	,	PUNCT
ejge-4303	256	32	and	and	CCONJ
ejge-4303	256	33	its	its	PRON
ejge-4303	256	34	sign	sign	NOUN
ejge-4303	256	35	,	,	PUNCT
ejge-4303	256	36	which	which	PRON
ejge-4303	256	37	has	have	VERB
ejge-4303	256	38	to	to	PART
ejge-4303	256	39	be	be	AUX
ejge-4303	256	40	negative	negative	ADJ
ejge-4303	256	41	(	(	PUNCT
ejge-4303	256	42	see	see	VERB
ejge-4303	256	43	table	table	NOUN
ejge-4303	256	44	7	7	NUM
ejge-4303	256	45	)	)	PUNCT
ejge-4303	256	46	.	.	PUNCT
ejge-4303	257	1	note	note	VERB
ejge-4303	257	2	that	that	SCONJ
ejge-4303	257	3	the	the	DET
ejge-4303	257	4	coefficient	coefficient	NOUN
ejge-4303	257	5	of	of	ADP
ejge-4303	257	6	the	the	DET
ejge-4303	257	7	lagged	lag	VERB
ejge-4303	257	8	residual	residual	ADJ
ejge-4303	257	9	in	in	ADP
ejge-4303	257	10	the	the	DET
ejge-4303	257	11	ecm	ecm	PROPN
ejge-4303	257	12	shows	show	VERB
ejge-4303	257	13	the	the	DET
ejge-4303	257	14	speed	speed	NOUN
ejge-4303	257	15	of	of	ADP
ejge-4303	257	16	adjustment	adjustment	NOUN
ejge-4303	257	17	towards	towards	ADP
ejge-4303	257	18	the	the	DET
ejge-4303	257	19	equilibrium	equilibrium	NOUN
ejge-4303	257	20	following	follow	VERB
ejge-4303	257	21	a	a	DET
ejge-4303	257	22	shock	shock	NOUN
ejge-4303	257	23	to	to	ADP
ejge-4303	257	24	the	the	DET
ejge-4303	257	25	syste	syste	NOUN
ejge-4303	257	26	.	.	PUNCT
ejge-4303	258	1	table	table	NOUN
ejge-4303	258	2	7	7	NUM
ejge-4303	258	3	.	.	PUNCT
ejge-4303	259	1	ardl	ardl	NOUN
ejge-4303	259	2	coefficients	coefficient	NOUN
ejge-4303	259	3	in	in	ADP
ejge-4303	259	4	the	the	DET
ejge-4303	259	5	short	short	ADJ
ejge-4303	259	6	term	term	NOUN
ejge-4303	259	7	model	model	NOUN
ejge-4303	259	8	(	(	PUNCT
ejge-4303	259	9	ecm	ecm	PROPN
ejge-4303	259	10	)	)	PUNCT
ejge-4303	259	11	variable	variable	ADJ
ejge-4303	259	12	r2	r2	PROPN
ejge-4303	259	13	criterion	criterion	NOUN
ejge-4303	259	14	aic	aic	PROPN
ejge-4303	259	15	bic	bic	PROPN
ejge-4303	259	16	dpri_deb	dpri_deb	PRON
ejge-4303	259	17	-0.0210	-0.0210	PROPN
ejge-4303	259	18	(	(	PUNCT
ejge-4303	259	19	-0.9495	-0.9495	ADJ
ejge-4303	259	20	)	)	PUNCT
ejge-4303	259	21	-0.0292	-0.0292	NOUN
ejge-4303	259	22	(	(	PUNCT
ejge-4303	259	23	-1.3704	-1.3704	PROPN
ejge-4303	259	24	)	)	PUNCT
ejge-4303	259	25	-0.0108	-0.0108	NOUN
ejge-4303	259	26	(	(	PUNCT
ejge-4303	259	27	-0.4904	-0.4904	NUM
ejge-4303	259	28	)	)	PUNCT
ejge-4303	259	29	dpub_deb	dpub_deb	VERB
ejge-4303	259	30	0.0656	0.0656	NUM
ejge-4303	259	31	*	*	PUNCT
ejge-4303	259	32	*	*	PUNCT
ejge-4303	259	33	*	*	PUNCT
ejge-4303	259	34	(	(	PUNCT
ejge-4303	259	35	3.4323	3.4323	NUM
ejge-4303	259	36	)	)	PUNCT
ejge-4303	259	37	0.0548	0.0548	X
ejge-4303	260	1	*	*	PUNCT
ejge-4303	260	2	*	*	PUNCT
ejge-4303	260	3	(	(	PUNCT
ejge-4303	260	4	3.0104	3.0104	NUM
ejge-4303	260	5	)	)	PUNCT
ejge-4303	260	6	0.0064	0.0064	NUM
ejge-4303	260	7	(	(	PUNCT
ejge-4303	260	8	0.4251	0.4251	NUM
ejge-4303	260	9	)	)	PUNCT
ejge-4303	260	10	desi_sp	desi_sp	NOUN
ejge-4303	260	11	-0.0606	-0.0606	NOUN
ejge-4303	261	1	*	*	PUNCT
ejge-4303	261	2	*	*	PUNCT
ejge-4303	261	3	(	(	PUNCT
ejge-4303	261	4	-2.5609	-2.5609	NOUN
ejge-4303	261	5	)	)	PUNCT
ejge-4303	261	6	-0.0689	-0.0689	NOUN
ejge-4303	262	1	*	*	PUNCT
ejge-4303	262	2	*	*	PUNCT
ejge-4303	262	3	(	(	PUNCT
ejge-4303	262	4	-2.9709	-2.9709	PROPN
ejge-4303	262	5	)	)	PUNCT
ejge-4303	262	6	-0.0654	-0.0654	PROPN
ejge-4303	263	1	*	*	PUNCT
ejge-4303	264	1	*	*	PUNCT
ejge-4303	264	2	*	*	PUNCT
ejge-4303	264	3	(	(	PUNCT
ejge-4303	264	4	-6.006	-6.006	ADJ
ejge-4303	264	5	)	)	PUNCT
ejge-4303	264	6	dinf	dinf	NOUN
ejge-4303	264	7	-0.1723	-0.1723	NOUN
ejge-4303	264	8	*	*	NOUN
ejge-4303	264	9	*	*	PUNCT
ejge-4303	264	10	(	(	PUNCT
ejge-4303	264	11	-3.0494	-3.0494	NOUN
ejge-4303	264	12	)	)	PUNCT
ejge-4303	264	13	-0.1499	-0.1499	PROPN
ejge-4303	265	1	*	*	PUNCT
ejge-4303	265	2	*	*	PUNCT
ejge-4303	265	3	(	(	PUNCT
ejge-4303	265	4	-2.8043	-2.8043	NOUN
ejge-4303	265	5	)	)	PUNCT
ejge-4303	265	6	-0.941	-0.941	PUNCT
ejge-4303	266	1	*	*	PUNCT
ejge-4303	266	2	*	*	PUNCT
ejge-4303	266	3	*	*	PUNCT
ejge-4303	266	4	(	(	PUNCT
ejge-4303	266	5	-1.6890	-1.6890	NOUN
ejge-4303	266	6	)	)	PUNCT
ejge-4303	266	7	dspr	dspr	NOUN
ejge-4303	266	8	0.0900	0.0900	NUM
ejge-4303	266	9	(	(	PUNCT
ejge-4303	266	10	1.1829	1.1829	NUM
ejge-4303	266	11	)	)	PUNCT
ejge-4303	266	12	0.0971	0.0971	NUM
ejge-4303	266	13	(	(	PUNCT
ejge-4303	266	14	1.2727	1.2727	NUM
ejge-4303	266	15	)	)	PUNCT
ejge-4303	266	16	0.0535	0.0535	NUM
ejge-4303	266	17	(	(	PUNCT
ejge-4303	266	18	0.7395	0.7395	NUM
ejge-4303	266	19	)	)	PUNCT
ejge-4303	266	20	dbor_cap	dbor_cap	PROPN
ejge-4303	266	21	-0.1077	-0.1077	PROPN
ejge-4303	266	22	*	*	PROPN
ejge-4303	267	1	*	*	PUNCT
ejge-4303	267	2	(	(	PUNCT
ejge-4303	267	3	-3.1386	-3.1386	X
ejge-4303	267	4	)	)	PUNCT
ejge-4303	267	5	-0.1146	-0.1146	X
ejge-4303	268	1	*	*	PUNCT
ejge-4303	268	2	*	*	PUNCT
ejge-4303	268	3	*	*	PUNCT
ejge-4303	268	4	(	(	PUNCT
ejge-4303	268	5	-3.3466	-3.3466	NOUN
ejge-4303	268	6	)	)	PUNCT
ejge-4303	268	7	-0.1010	-0.1010	PUNCT
ejge-4303	269	1	*	*	PUNCT
ejge-4303	269	2	*	*	PUNCT
ejge-4303	269	3	(	(	PUNCT
ejge-4303	269	4	-2.814	-2.814	PRON
ejge-4303	269	5	)	)	PUNCT
ejge-4303	269	6	dvix	dvix	PROPN
ejge-4303	269	7	0.0119	0.0119	NUM
ejge-4303	269	8	(	(	PUNCT
ejge-4303	269	9	1.2822	1.2822	NUM
ejge-4303	269	10	)	)	PUNCT
ejge-4303	269	11	0.0136	0.0136	NUM
ejge-4303	269	12	(	(	PUNCT
ejge-4303	269	13	1.6175	1.6175	NUM
ejge-4303	269	14	)	)	PUNCT
ejge-4303	269	15	0.0159	0.0159	NUM
ejge-4303	269	16	*	*	PUNCT
ejge-4303	269	17	*	*	PUNCT
ejge-4303	269	18	(	(	PUNCT
ejge-4303	269	19	2.0143	2.0143	NUM
ejge-4303	269	20	)	)	PUNCT
ejge-4303	269	21	dc	dc	PROPN
ejge-4303	269	22	11.7676	11.7676	NUM
ejge-4303	269	23	*	*	PUNCT
ejge-4303	269	24	*	*	PUNCT
ejge-4303	269	25	*	*	PUNCT
ejge-4303	269	26	(	(	PUNCT
ejge-4303	269	27	7.4258	7.4258	NUM
ejge-4303	269	28	)	)	PUNCT
ejge-4303	269	29	11.0430	11.0430	NUM
ejge-4303	269	30	*	*	PUNCT
ejge-4303	269	31	*	*	PUNCT
ejge-4303	269	32	*	*	PUNCT
ejge-4303	269	33	(	(	PUNCT
ejge-4303	269	34	7.2127	7.2127	NUM
ejge-4303	269	35	)	)	PUNCT
ejge-4303	269	36	7.4484	7.4484	NUM
ejge-4303	269	37	*	*	PUNCT
ejge-4303	269	38	*	*	PUNCT
ejge-4303	269	39	*	*	PUNCT
ejge-4303	269	40	(	(	PUNCT
ejge-4303	269	41	6.2846	6.2846	NUM
ejge-4303	269	42	)	)	PUNCT
ejge-4303	269	43	et-1	et-1	X
ejge-4303	269	44	-0.1978	-0.1978	NOUN
ejge-4303	269	45	*	*	PUNCT
ejge-4303	269	46	*	*	PUNCT
ejge-4303	269	47	*	*	PUNCT
ejge-4303	269	48	(	(	PUNCT
ejge-4303	269	49	-4.7096	-4.7096	NOUN
ejge-4303	269	50	)	)	PUNCT
ejge-4303	269	51	-0.1696	-0.1696	NOUN
ejge-4303	270	1	*	*	PUNCT
ejge-4303	270	2	*	*	PUNCT
ejge-4303	270	3	*	*	PUNCT
ejge-4303	270	4	(	(	PUNCT
ejge-4303	270	5	-4.3203	-4.3203	ADJ
ejge-4303	270	6	)	)	PUNCT
ejge-4303	270	7	-0.0564	-0.0564	NOUN
ejge-4303	271	1	*	*	PUNCT
ejge-4303	271	2	*	*	PUNCT
ejge-4303	271	3	*	*	PUNCT
ejge-4303	271	4	(	(	PUNCT
ejge-4303	271	5	-1.9163	-1.9163	X
ejge-4303	271	6	)	)	PUNCT
ejge-4303	271	7	*	*	PUNCT
ejge-4303	271	8	indicates	indicate	VERB
ejge-4303	271	9	significance	significance	NOUN
ejge-4303	271	10	at	at	ADP
ejge-4303	271	11	10	10	NUM
ejge-4303	271	12	%	%	NOUN
ejge-4303	271	13	,	,	PUNCT
ejge-4303	271	14	*	*	PUNCT
ejge-4303	271	15	*	*	PUNCT
ejge-4303	271	16	at	at	ADP
ejge-4303	271	17	5	5	NUM
ejge-4303	271	18	%	%	NOUN
ejge-4303	271	19	and	and	CCONJ
ejge-4303	271	20	*	*	NOUN
ejge-4303	271	21	*	*	PUNCT
ejge-4303	271	22	*	*	PUNCT
ejge-4303	271	23	at	at	ADP
ejge-4303	271	24	1	1	NUM
ejge-4303	271	25	%	%	NOUN
ejge-4303	271	26	level	level	NOUN
ejge-4303	271	27	respectively	respectively	ADV
ejge-4303	271	28	.	.	PUNCT
ejge-4303	272	1	in	in	ADP
ejge-4303	272	2	brackets	bracket	NOUN
ejge-4303	272	3	,	,	PUNCT
ejge-4303	272	4	values	value	NOUN
ejge-4303	272	5	of	of	ADP
ejge-4303	272	6	the	the	DET
ejge-4303	272	7	t	t	PROPN
ejge-4303	272	8	statistic	statistic	NOUN
ejge-4303	272	9	as	as	SCONJ
ejge-4303	272	10	regards	regard	VERB
ejge-4303	272	11	the	the	DET
ejge-4303	272	12	qualitative	qualitative	ADJ
ejge-4303	272	13	variables	variable	NOUN
ejge-4303	272	14	on	on	ADP
ejge-4303	272	15	which	which	PRON
ejge-4303	272	16	we	we	PRON
ejge-4303	272	17	focus	focus	VERB
ejge-4303	272	18	,	,	PUNCT
ejge-4303	272	19	the	the	DET
ejge-4303	272	20	estimated	estimate	VERB
ejge-4303	272	21	coefficients	coefficient	NOUN
ejge-4303	272	22	of	of	ADP
ejge-4303	272	23	the	the	DET
ejge-4303	272	24	ecm	ecm	NOUN
ejge-4303	272	25	show	show	VERB
ejge-4303	272	26	the	the	DET
ejge-4303	272	27	following	follow	VERB
ejge-4303	272	28	results	result	NOUN
ejge-4303	272	29	.	.	PUNCT
ejge-4303	273	1	the	the	DET
ejge-4303	273	2	ecm	ecm	PROPN
ejge-4303	273	3	is	be	AUX
ejge-4303	273	4	valid	valid	ADJ
ejge-4303	273	5	as	as	SCONJ
ejge-4303	273	6	the	the	DET
ejge-4303	273	7	error	error	NOUN
ejge-4303	273	8	correction	correction	NOUN
ejge-4303	273	9	term	term	NOUN
ejge-4303	273	10	is	be	AUX
ejge-4303	273	11	significant	significant	ADJ
ejge-4303	273	12	and	and	CCONJ
ejge-4303	273	13	negative	negative	ADJ
ejge-4303	273	14	in	in	ADP
ejge-4303	273	15	the	the	DET
ejge-4303	273	16	three	three	NUM
ejge-4303	273	17	criteria	criterion	NOUN
ejge-4303	273	18	.	.	PUNCT
ejge-4303	274	1	in	in	ADP
ejge-4303	274	2	the	the	DET
ejge-4303	274	3	short	short	ADJ
ejge-4303	274	4	term	term	NOUN
ejge-4303	274	5	,	,	PUNCT
ejge-4303	274	6	increases	increase	VERB
ejge-4303	274	7	in	in	ADP
ejge-4303	274	8	confidence	confidence	NOUN
ejge-4303	274	9	measured	measure	VERB
ejge-4303	274	10	through	through	ADP
ejge-4303	274	11	esi_sp	esi_sp	PROPN
ejge-4303	274	12	have	have	VERB
ejge-4303	274	13	a	a	DET
ejge-4303	274	14	positive	positive	ADJ
ejge-4303	274	15	relationship	relationship	NOUN
ejge-4303	274	16	with	with	ADP
ejge-4303	274	17	the	the	DET
ejge-4303	274	18	decrease	decrease	NOUN
ejge-4303	274	19	in	in	ADP
ejge-4303	274	20	the	the	DET
ejge-4303	274	21	unemployment	unemployment	NOUN
ejge-4303	274	22	rate	rate	NOUN
ejge-4303	274	23	in	in	ADP
ejge-4303	274	24	spain	spain	PROPN
ejge-4303	274	25	,	,	PUNCT
ejge-4303	274	26	according	accord	VERB
ejge-4303	274	27	to	to	ADP
ejge-4303	274	28	all	all	DET
ejge-4303	274	29	criteria	criterion	NOUN
ejge-4303	274	30	.	.	PUNCT
ejge-4303	275	1	as	as	ADP
ejge-4303	275	2	in	in	ADP
ejge-4303	275	3	the	the	DET
ejge-4303	275	4	long	long	ADJ
ejge-4303	275	5	term	term	NOUN
ejge-4303	275	6	,	,	PUNCT
ejge-4303	275	7	spread	spread	NOUN
ejge-4303	275	8	has	have	VERB
ejge-4303	275	9	no	no	DET
ejge-4303	275	10	significant	significant	ADJ
ejge-4303	275	11	result	result	NOUN
ejge-4303	275	12	with	with	ADP
ejge-4303	275	13	any	any	PRON
ejge-4303	275	14	of	of	ADP
ejge-4303	275	15	the	the	DET
ejge-4303	275	16	criteria	criterion	NOUN
ejge-4303	275	17	,	,	PUNCT
ejge-4303	275	18	in	in	ADP
ejge-4303	275	19	the	the	DET
ejge-4303	275	20	short	short	ADJ
ejge-4303	275	21	term	term	NOUN
ejge-4303	275	22	.	.	PUNCT
ejge-4303	276	1	the	the	DET
ejge-4303	276	2	vix	vix	PROPN
ejge-4303	276	3	index	index	NOUN
ejge-4303	276	4	only	only	ADV
ejge-4303	276	5	appears	appear	VERB
ejge-4303	276	6	as	as	ADP
ejge-4303	276	7	significant	significant	ADJ
ejge-4303	276	8	according	accord	VERB
ejge-4303	276	9	to	to	ADP
ejge-4303	276	10	the	the	DET
ejge-4303	276	11	bic	bic	PROPN
ejge-4303	276	12	criterion	criterion	NOUN
ejge-4303	276	13	,	,	PUNCT
ejge-4303	276	14	showing	show	VERB
ejge-4303	276	15	in	in	ADP
ejge-4303	276	16	this	this	DET
ejge-4303	276	17	case	case	NOUN
ejge-4303	276	18	a	a	DET
ejge-4303	276	19	positive	positive	ADJ
ejge-4303	276	20	relationship	relationship	NOUN
ejge-4303	276	21	with	with	ADP
ejge-4303	276	22	the	the	DET
ejge-4303	276	23	unemployment	unemployment	NOUN
ejge-4303	276	24	rate	rate	NOUN
ejge-4303	276	25	.	.	PUNCT
ejge-4303	277	1	to	to	PART
ejge-4303	277	2	sum	sum	VERB
ejge-4303	277	3	up	up	ADP
ejge-4303	277	4	,	,	PUNCT
ejge-4303	277	5	the	the	DET
ejge-4303	277	6	following	follow	VERB
ejge-4303	277	7	aspects	aspect	NOUN
ejge-4303	277	8	can	can	AUX
ejge-4303	277	9	be	be	AUX
ejge-4303	277	10	highlighted	highlight	VERB
ejge-4303	277	11	in	in	ADP
ejge-4303	277	12	both	both	CCONJ
ejge-4303	277	13	the	the	DET
ejge-4303	277	14	short	short	ADJ
ejge-4303	277	15	and	and	CCONJ
ejge-4303	277	16	long	long	ADJ
ejge-4303	277	17	term	term	NOUN
ejge-4303	277	18	.	.	PUNCT
ejge-4303	278	1	the	the	DET
ejge-4303	278	2	variable	variable	NOUN
ejge-4303	278	3	esi_sp	esi_sp	PROPN
ejge-4303	278	4	used	use	VERB
ejge-4303	278	5	as	as	ADP
ejge-4303	278	6	a	a	DET
ejge-4303	278	7	proxy	proxy	NOUN
ejge-4303	278	8	of	of	ADP
ejge-4303	278	9	confidence	confidence	NOUN
ejge-4303	278	10	is	be	AUX
ejge-4303	278	11	significant	significant	ADJ
ejge-4303	278	12	in	in	ADP
ejge-4303	278	13	both	both	CCONJ
ejge-4303	278	14	the	the	DET
ejge-4303	278	15	short	short	ADJ
ejge-4303	278	16	and	and	CCONJ
ejge-4303	278	17	long	long	ADJ
ejge-4303	278	18	term	term	NOUN
ejge-4303	278	19	in	in	ADP
ejge-4303	278	20	a	a	DET
ejge-4303	278	21	model	model	NOUN
ejge-4303	278	22	with	with	ADP
ejge-4303	278	23	the	the	DET
ejge-4303	278	24	unemployment	unemployment	NOUN
ejge-4303	278	25	rate	rate	NOUN
ejge-4303	278	26	as	as	ADP
ejge-4303	278	27	the	the	DET
ejge-4303	278	28	dependent	dependent	ADJ
ejge-4303	278	29	variable	variable	NOUN
ejge-4303	278	30	.	.	PUNCT
ejge-4303	279	1	both	both	DET
ejge-4303	279	2	variables	variable	NOUN
ejge-4303	279	3	are	be	AUX
ejge-4303	279	4	inversely	inversely	ADV
ejge-4303	279	5	related	relate	VERB
ejge-4303	279	6	,	,	PUNCT
ejge-4303	279	7	that	that	ADV
ejge-4303	279	8	is	is	ADV
ejge-4303	279	9	,	,	PUNCT
ejge-4303	279	10	increases	increase	NOUN
ejge-4303	279	11	in	in	ADP
ejge-4303	279	12	business	business	NOUN
ejge-4303	279	13	confidence	confidence	NOUN
ejge-4303	279	14	and	and	CCONJ
ejge-4303	279	15	economic	economic	ADJ
ejge-4303	279	16	sentiment	sentiment	NOUN
ejge-4303	279	17	will	will	AUX
ejge-4303	279	18	be	be	AUX
ejge-4303	279	19	associated	associate	VERB
ejge-4303	279	20	with	with	ADP
ejge-4303	279	21	decreases	decrease	NOUN
ejge-4303	279	22	in	in	ADP
ejge-4303	279	23	the	the	DET
ejge-4303	279	24	spanish	spanish	ADJ
ejge-4303	279	25	unemployment	unemployment	NOUN
ejge-4303	279	26	rate	rate	NOUN
ejge-4303	279	27	and	and	CCONJ
ejge-4303	279	28	vice	vice	NOUN
ejge-4303	279	29	versa	versa	ADV
ejge-4303	279	30	.	.	PUNCT
ejge-4303	280	1	the	the	DET
ejge-4303	280	2	vix	vix	PROPN
ejge-4303	280	3	index	index	NOUN
ejge-4303	280	4	is	be	AUX
ejge-4303	280	5	only	only	ADV
ejge-4303	280	6	significant	significant	ADJ
ejge-4303	280	7	in	in	ADP
ejge-4303	280	8	the	the	DET
ejge-4303	280	9	short	short	ADJ
ejge-4303	280	10	term	term	NOUN
ejge-4303	280	11	and	and	CCONJ
ejge-4303	280	12	with	with	ADP
ejge-4303	280	13	the	the	DET
ejge-4303	280	14	bayesian	bayesian	ADJ
ejge-4303	280	15	information	information	NOUN
ejge-4303	280	16	criterion	criterion	NOUN
ejge-4303	280	17	,	,	PUNCT
ejge-4303	280	18	showing	show	VERB
ejge-4303	280	19	in	in	ADP
ejge-4303	280	20	this	this	DET
ejge-4303	280	21	case	case	NOUN
ejge-4303	280	22	a	a	DET
ejge-4303	280	23	positive	positive	ADJ
ejge-4303	280	24	relationship	relationship	NOUN
ejge-4303	280	25	with	with	ADP
ejge-4303	280	26	the	the	DET
ejge-4303	280	27	unemployment	unemployment	NOUN
ejge-4303	280	28	rate	rate	NOUN
ejge-4303	280	29	.	.	PUNCT
ejge-4303	281	1	the	the	DET
ejge-4303	281	2	interest	interest	NOUN
ejge-4303	281	3	rate	rate	NOUN
ejge-4303	281	4	spread	spread	NOUN
ejge-4303	281	5	is	be	AUX
ejge-4303	281	6	not	not	PART
ejge-4303	281	7	a	a	DET
ejge-4303	281	8	european	european	ADJ
ejge-4303	281	9	journal	journal	NOUN
ejge-4303	281	10	of	of	ADP
ejge-4303	281	11	government	government	NOUN
ejge-4303	281	12	and	and	CCONJ
ejge-4303	281	13	economics	economic	NOUN
ejge-4303	281	14	3(2	3(2	NUM
ejge-4303	281	15	)	)	PUNCT
ejge-4303	281	16	158	158	NUM
ejge-4303	281	17	significant	significant	ADJ
ejge-4303	281	18	variable	variable	NOUN
ejge-4303	281	19	neither	neither	CCONJ
ejge-4303	281	20	in	in	ADP
ejge-4303	281	21	the	the	DET
ejge-4303	281	22	short	short	ADJ
ejge-4303	281	23	nor	nor	CCONJ
ejge-4303	281	24	in	in	ADP
ejge-4303	281	25	the	the	DET
ejge-4303	281	26	long	long	ADJ
ejge-4303	281	27	run	run	NOUN
ejge-4303	281	28	with	with	ADP
ejge-4303	281	29	any	any	PRON
ejge-4303	281	30	of	of	ADP
ejge-4303	281	31	the	the	DET
ejge-4303	281	32	criteria	criterion	NOUN
ejge-4303	281	33	used	use	VERB
ejge-4303	281	34	.	.	PUNCT
ejge-4303	282	1	for	for	ADP
ejge-4303	282	2	the	the	DET
ejge-4303	282	3	shake	shake	NOUN
ejge-4303	282	4	of	of	ADP
ejge-4303	282	5	simplicity	simplicity	NOUN
ejge-4303	282	6	,	,	PUNCT
ejge-4303	282	7	table	table	NOUN
ejge-4303	282	8	7	7	NUM
ejge-4303	282	9	really	really	ADV
ejge-4303	282	10	does	do	AUX
ejge-4303	282	11	not	not	PART
ejge-4303	282	12	include	include	VERB
ejge-4303	282	13	all	all	DET
ejge-4303	282	14	the	the	DET
ejge-4303	282	15	estimates	estimate	NOUN
ejge-4303	282	16	of	of	ADP
ejge-4303	282	17	the	the	DET
ejge-4303	282	18	short	short	ADJ
ejge-4303	282	19	-	-	PUNCT
ejge-4303	282	20	run	run	NOUN
ejge-4303	282	21	models	model	NOUN
ejge-4303	282	22	,	,	PUNCT
ejge-4303	282	23	we	we	PRON
ejge-4303	282	24	only	only	ADV
ejge-4303	282	25	included	include	VERB
ejge-4303	282	26	the	the	DET
ejge-4303	282	27	first	first	ADJ
ejge-4303	282	28	term	term	NOUN
ejge-4303	282	29	of	of	ADP
ejge-4303	282	30	the	the	DET
ejge-4303	282	31	lag	lag	NOUN
ejge-4303	282	32	polynomial	polynomial	NOUN
ejge-4303	282	33	of	of	ADP
ejge-4303	282	34	each	each	DET
ejge-4303	282	35	variable	variable	NOUN
ejge-4303	282	36	and	and	CCONJ
ejge-4303	282	37	the	the	DET
ejge-4303	282	38	error	error	NOUN
ejge-4303	282	39	correction	correction	NOUN
ejge-4303	282	40	term	term	NOUN
ejge-4303	282	41	.	.	PUNCT
ejge-4303	283	1	confidence	confidence	NOUN
ejge-4303	283	2	-	-	PUNCT
ejge-4303	283	3	unemployment	unemployment	NOUN
ejge-4303	283	4	:	:	PUNCT
ejge-4303	283	5	results	result	NOUN
ejge-4303	283	6	of	of	ADP
ejge-4303	283	7	the	the	DET
ejge-4303	283	8	causality	causality	NOUN
ejge-4303	283	9	test	test	NOUN
ejge-4303	283	10	taking	take	VERB
ejge-4303	283	11	into	into	ADP
ejge-4303	283	12	account	account	NOUN
ejge-4303	283	13	that	that	SCONJ
ejge-4303	283	14	the	the	DET
ejge-4303	283	15	results	result	NOUN
ejge-4303	283	16	of	of	ADP
ejge-4303	283	17	the	the	DET
ejge-4303	283	18	cointegration	cointegration	NOUN
ejge-4303	283	19	tests	test	NOUN
ejge-4303	283	20	(	(	PUNCT
ejge-4303	283	21	which	which	PRON
ejge-4303	283	22	check	check	VERB
ejge-4303	283	23	if	if	SCONJ
ejge-4303	283	24	there	there	PRON
ejge-4303	283	25	is	be	VERB
ejge-4303	283	26	a	a	DET
ejge-4303	283	27	long	long	ADJ
ejge-4303	283	28	-	-	PUNCT
ejge-4303	283	29	term	term	NOUN
ejge-4303	283	30	relationship	relationship	NOUN
ejge-4303	283	31	between	between	ADP
ejge-4303	283	32	the	the	DET
ejge-4303	283	33	variables	variable	NOUN
ejge-4303	283	34	)	)	PUNCT
ejge-4303	283	35	are	be	AUX
ejge-4303	283	36	not	not	PART
ejge-4303	283	37	sufficient	sufficient	ADJ
ejge-4303	283	38	and	and	CCONJ
ejge-4303	283	39	at	at	ADP
ejge-4303	283	40	the	the	DET
ejge-4303	283	41	same	same	ADJ
ejge-4303	283	42	time	time	NOUN
ejge-4303	283	43	they	they	PRON
ejge-4303	283	44	are	be	AUX
ejge-4303	283	45	necessary	necessary	ADJ
ejge-4303	283	46	to	to	PART
ejge-4303	283	47	determine	determine	VERB
ejge-4303	283	48	the	the	DET
ejge-4303	283	49	existence	existence	NOUN
ejge-4303	283	50	of	of	ADP
ejge-4303	283	51	causality	causality	NOUN
ejge-4303	283	52	in	in	ADP
ejge-4303	283	53	the	the	DET
ejge-4303	283	54	granger	granger	NOUN
ejge-4303	283	55	sense	sense	NOUN
ejge-4303	283	56	,	,	PUNCT
ejge-4303	283	57	we	we	PRON
ejge-4303	283	58	proceeded	proceed	VERB
ejge-4303	283	59	to	to	PART
ejge-4303	283	60	perform	perform	VERB
ejge-4303	283	61	causality	causality	NOUN
ejge-4303	283	62	tests	test	NOUN
ejge-4303	283	63	applying	apply	VERB
ejge-4303	283	64	toda	toda	PROPN
ejge-4303	283	65	and	and	CCONJ
ejge-4303	283	66	yamamoto	yamamoto	PROPN
ejge-4303	283	67	(	(	PUNCT
ejge-4303	283	68	1995	1995	NUM
ejge-4303	283	69	)	)	PUNCT
ejge-4303	283	70	procedure	procedure	NOUN
ejge-4303	283	71	to	to	PART
ejge-4303	283	72	test	test	VERB
ejge-4303	283	73	for	for	ADP
ejge-4303	283	74	granger	granger	PROPN
ejge-4303	283	75	causality	causality	PROPN
ejge-4303	283	76	–	–	PUNCT
ejge-4303	283	77	this	this	DET
ejge-4303	283	78	procedure	procedure	NOUN
ejge-4303	283	79	is	be	AUX
ejge-4303	283	80	applicable	applicable	ADJ
ejge-4303	283	81	in	in	ADP
ejge-4303	283	82	situations	situation	NOUN
ejge-4303	283	83	where	where	SCONJ
ejge-4303	283	84	not	not	PART
ejge-4303	283	85	all	all	DET
ejge-4303	283	86	the	the	DET
ejge-4303	283	87	variables	variable	NOUN
ejge-4303	283	88	are	be	AUX
ejge-4303	283	89	stationary	stationary	ADJ
ejge-4303	283	90	,	,	PUNCT
ejge-4303	283	91	as	as	SCONJ
ejge-4303	283	92	it	it	PRON
ejge-4303	283	93	is	be	AUX
ejge-4303	283	94	the	the	DET
ejge-4303	283	95	case	case	NOUN
ejge-4303	283	96	here	here	ADV
ejge-4303	283	97	.	.	PUNCT
ejge-4303	284	1	the	the	DET
ejge-4303	284	2	information	information	NOUN
ejge-4303	284	3	criteria	criterion	NOUN
ejge-4303	284	4	suggest	suggest	VERB
ejge-4303	284	5	that	that	SCONJ
ejge-4303	284	6	we	we	PRON
ejge-4303	284	7	should	should	AUX
ejge-4303	284	8	have	have	VERB
ejge-4303	284	9	a	a	DET
ejge-4303	284	10	maximum	maximum	ADJ
ejge-4303	284	11	lag	lag	NOUN
ejge-4303	284	12	length	length	NOUN
ejge-4303	284	13	of	of	ADP
ejge-4303	284	14	3	3	NUM
ejge-4303	284	15	for	for	ADP
ejge-4303	284	16	each	each	DET
ejge-4303	284	17	variable	variable	NOUN
ejge-4303	284	18	.	.	PUNCT
ejge-4303	285	1	the	the	DET
ejge-4303	285	2	application	application	NOUN
ejge-4303	285	3	of	of	ADP
ejge-4303	285	4	the	the	DET
ejge-4303	285	5	lm	lm	X
ejge-4303	285	6	test	test	NOUN
ejge-4303	285	7	for	for	ADP
ejge-4303	285	8	serial	serial	ADJ
ejge-4303	285	9	independence	independence	NOUN
ejge-4303	285	10	against	against	ADP
ejge-4303	285	11	the	the	DET
ejge-4303	285	12	alternative	alternative	NOUN
ejge-4303	285	13	of	of	ADP
ejge-4303	285	14	ar(k)/ma(k	ar(k)/ma(k	NOUN
ejge-4303	285	15	)	)	PUNCT
ejge-4303	285	16	,	,	PUNCT
ejge-4303	285	17	for	for	ADP
ejge-4303	285	18	k	k	PROPN
ejge-4303	285	19	=	=	SYM
ejge-4303	285	20	1	1	NUM
ejge-4303	285	21	,	,	PUNCT
ejge-4303	285	22	…	…	PUNCT
ejge-4303	285	23	,	,	PUNCT
ejge-4303	285	24	12	12	NUM
ejge-4303	285	25	shows	show	VERB
ejge-4303	285	26	that	that	SCONJ
ejge-4303	285	27	there	there	PRON
ejge-4303	285	28	is	be	VERB
ejge-4303	285	29	no	no	DET
ejge-4303	285	30	problem	problem	NOUN
ejge-4303	285	31	using	use	VERB
ejge-4303	285	32	3	3	NUM
ejge-4303	285	33	lags	lag	NOUN
ejge-4303	285	34	(	(	PUNCT
ejge-4303	285	35	serial	serial	ADJ
ejge-4303	285	36	correlation	correlation	NOUN
ejge-4303	285	37	is	be	AUX
ejge-4303	285	38	removed	remove	VERB
ejge-4303	285	39	)	)	PUNCT
ejge-4303	285	40	.	.	PUNCT
ejge-4303	286	1	johansen	johansen	PROPN
ejge-4303	286	2	’s	’s	PART
ejge-4303	286	3	trace	trace	NOUN
ejge-4303	286	4	test	test	NOUN
ejge-4303	286	5	and	and	CCONJ
ejge-4303	286	6	maximum	maximum	ADJ
ejge-4303	286	7	eigenvalue	eigenvalue	ADJ
ejge-4303	286	8	test	test	NOUN
ejge-4303	286	9	both	both	PRON
ejge-4303	286	10	indicate	indicate	VERB
ejge-4303	286	11	the	the	DET
ejge-4303	286	12	presence	presence	NOUN
ejge-4303	286	13	of	of	ADP
ejge-4303	286	14	cointegration	cointegration	NOUN
ejge-4303	286	15	between	between	ADP
ejge-4303	286	16	the	the	DET
ejge-4303	286	17	two	two	NUM
ejge-4303	286	18	series	series	NOUN
ejge-4303	286	19	,	,	PUNCT
ejge-4303	286	20	at	at	ADP
ejge-4303	286	21	the	the	DET
ejge-4303	286	22	5	5	NUM
ejge-4303	286	23	%	%	NOUN
ejge-4303	286	24	level	level	NOUN
ejge-4303	286	25	.	.	PUNCT
ejge-4303	287	1	as	as	SCONJ
ejge-4303	287	2	m	m	PROPN
ejge-4303	287	3	(	(	PUNCT
ejge-4303	287	4	maximum	maximum	ADJ
ejge-4303	287	5	order	order	NOUN
ejge-4303	287	6	of	of	ADP
ejge-4303	287	7	integration	integration	NOUN
ejge-4303	287	8	of	of	ADP
ejge-4303	287	9	these	these	DET
ejge-4303	287	10	two	two	NUM
ejge-4303	287	11	variables	variable	NOUN
ejge-4303	287	12	)	)	PUNCT
ejge-4303	287	13	is	be	AUX
ejge-4303	287	14	1	1	NUM
ejge-4303	287	15	,	,	PUNCT
ejge-4303	287	16	we	we	PRON
ejge-4303	287	17	re	re	VERB
ejge-4303	287	18	-	-	VERB
ejge-4303	287	19	estimated	estimate	VERB
ejge-4303	287	20	the	the	DET
ejge-4303	287	21	var	var	NOUN
ejge-4303	287	22	levels	level	NOUN
ejge-4303	287	23	with	with	ADP
ejge-4303	287	24	one	one	NUM
ejge-4303	287	25	extra	extra	ADJ
ejge-4303	287	26	lag	lag	NOUN
ejge-4303	287	27	of	of	ADP
ejge-4303	287	28	each	each	DET
ejge-4303	287	29	variable	variable	NOUN
ejge-4303	287	30	in	in	ADP
ejge-4303	287	31	each	each	DET
ejge-4303	287	32	equation	equation	NOUN
ejge-4303	287	33	and	and	CCONJ
ejge-4303	287	34	we	we	PRON
ejge-4303	287	35	undertook	undertake	VERB
ejge-4303	287	36	the	the	DET
ejge-4303	287	37	granger	granger	PROPN
ejge-4303	287	38	non	non	ADJ
ejge-4303	287	39	-	-	ADJ
ejge-4303	287	40	causality	causality	NOUN
ejge-4303	287	41	testing	testing	NOUN
ejge-4303	287	42	.	.	PUNCT
ejge-4303	288	1	according	accord	VERB
ejge-4303	288	2	to	to	ADP
ejge-4303	288	3	the	the	DET
ejge-4303	288	4	results	result	NOUN
ejge-4303	288	5	of	of	ADP
ejge-4303	288	6	this	this	DET
ejge-4303	288	7	procedure	procedure	NOUN
ejge-4303	288	8	,	,	PUNCT
ejge-4303	288	9	we	we	PRON
ejge-4303	288	10	can	can	AUX
ejge-4303	288	11	not	not	PART
ejge-4303	288	12	reject	reject	VERB
ejge-4303	288	13	the	the	DET
ejge-4303	288	14	null	null	ADJ
ejge-4303	288	15	hypothesis	hypothesis	NOUN
ejge-4303	288	16	of	of	ADP
ejge-4303	288	17	no	no	DET
ejge-4303	288	18	causality	causality	NOUN
ejge-4303	288	19	from	from	ADP
ejge-4303	288	20	unem	unem	PROPN
ejge-4303	288	21	to	to	ADP
ejge-4303	288	22	esi_sp	esi_sp	PROPN
ejge-4303	288	23	.	.	PUNCT
ejge-4303	289	1	furthermore	furthermore	ADV
ejge-4303	289	2	,	,	PUNCT
ejge-4303	289	3	the	the	DET
ejge-4303	289	4	null	null	ADJ
ejge-4303	289	5	hypothesis	hypothesis	NOUN
ejge-4303	289	6	of	of	ADP
ejge-4303	289	7	no	no	DET
ejge-4303	289	8	causality	causality	NOUN
ejge-4303	289	9	from	from	ADP
ejge-4303	289	10	esi_sp	esi_sp	PROPN
ejge-4303	289	11	to	to	ADP
ejge-4303	289	12	unem	unem	PROPN
ejge-4303	289	13	can	can	AUX
ejge-4303	289	14	also	also	ADV
ejge-4303	289	15	be	be	AUX
ejge-4303	289	16	rejected	reject	VERB
ejge-4303	289	17	at	at	ADP
ejge-4303	289	18	the	the	DET
ejge-4303	289	19	1	1	NUM
ejge-4303	289	20	%	%	NOUN
ejge-4303	289	21	significance	significance	NOUN
ejge-4303	289	22	level	level	NOUN
ejge-4303	289	23	.	.	PUNCT
ejge-4303	290	1	thus	thus	ADV
ejge-4303	290	2	,	,	PUNCT
ejge-4303	290	3	a	a	DET
ejge-4303	290	4	causal	causal	NOUN
ejge-4303	290	5	link	link	NOUN
ejge-4303	290	6	between	between	ADP
ejge-4303	290	7	the	the	DET
ejge-4303	290	8	two	two	NUM
ejge-4303	290	9	variables	variable	NOUN
ejge-4303	290	10	is	be	AUX
ejge-4303	290	11	found	find	VERB
ejge-4303	290	12	,	,	PUNCT
ejge-4303	290	13	that	that	ADV
ejge-4303	290	14	is	is	ADV
ejge-4303	290	15	,	,	PUNCT
ejge-4303	290	16	increases	increase	NOUN
ejge-4303	290	17	in	in	ADP
ejge-4303	290	18	the	the	DET
ejge-4303	290	19	confidence	confidence	NOUN
ejge-4303	290	20	in	in	ADP
ejge-4303	290	21	the	the	DET
ejge-4303	290	22	economy	economy	NOUN
ejge-4303	290	23	causes	cause	VERB
ejge-4303	290	24	decreases	decrease	NOUN
ejge-4303	290	25	in	in	ADP
ejge-4303	290	26	the	the	DET
ejge-4303	290	27	level	level	NOUN
ejge-4303	290	28	of	of	ADP
ejge-4303	290	29	unemployment	unemployment	NOUN
ejge-4303	290	30	in	in	ADP
ejge-4303	290	31	a	a	DET
ejge-4303	290	32	country	country	NOUN
ejge-4303	290	33	and	and	CCONJ
ejge-4303	290	34	not	not	PART
ejge-4303	290	35	vice	vice	ADV
ejge-4303	290	36	versa	versa	ADV
ejge-4303	290	37	.	.	PUNCT
ejge-4303	291	1	the	the	DET
ejge-4303	291	2	confidence	confidence	NOUN
ejge-4303	291	3	measured	measure	VERB
ejge-4303	291	4	by	by	ADP
ejge-4303	291	5	the	the	DET
ejge-4303	291	6	esi	esi	PROPN
ejge-4303	291	7	seems	seem	VERB
ejge-4303	291	8	to	to	PART
ejge-4303	291	9	cause	cause	VERB
ejge-4303	291	10	reductions	reduction	NOUN
ejge-4303	291	11	in	in	ADP
ejge-4303	291	12	the	the	DET
ejge-4303	291	13	unemployment	unemployment	NOUN
ejge-4303	291	14	rate	rate	NOUN
ejge-4303	291	15	:	:	PUNCT
ejge-4303	291	16	i.e.	i.e.	X
ejge-4303	291	17	a	a	DET
ejge-4303	291	18	qualitative	qualitative	ADJ
ejge-4303	291	19	magnitude	magnitude	NOUN
ejge-4303	291	20	linked	link	VERB
ejge-4303	291	21	to	to	ADP
ejge-4303	291	22	expectations	expectation	NOUN
ejge-4303	291	23	as	as	SCONJ
ejge-4303	291	24	mentioned	mention	VERB
ejge-4303	291	25	earlier	early	ADV
ejge-4303	291	26	in	in	ADP
ejge-4303	291	27	this	this	DET
ejge-4303	291	28	paper	paper	NOUN
ejge-4303	291	29	,	,	PUNCT
ejge-4303	291	30	would	would	AUX
ejge-4303	291	31	play	play	VERB
ejge-4303	291	32	a	a	DET
ejge-4303	291	33	key	key	ADJ
ejge-4303	291	34	role	role	NOUN
ejge-4303	291	35	in	in	ADP
ejge-4303	291	36	the	the	DET
ejge-4303	291	37	activation	activation	NOUN
ejge-4303	291	38	of	of	ADP
ejge-4303	291	39	the	the	DET
ejge-4303	291	40	labour	labour	NOUN
ejge-4303	291	41	market	market	NOUN
ejge-4303	291	42	.	.	PUNCT
ejge-4303	292	1	this	this	DET
ejge-4303	292	2	result	result	NOUN
ejge-4303	292	3	would	would	AUX
ejge-4303	292	4	come	come	VERB
ejge-4303	292	5	to	to	PART
ejge-4303	292	6	endorse	endorse	VERB
ejge-4303	292	7	the	the	DET
ejge-4303	292	8	idea	idea	NOUN
ejge-4303	292	9	that	that	SCONJ
ejge-4303	292	10	the	the	DET
ejge-4303	292	11	degree	degree	NOUN
ejge-4303	292	12	of	of	ADP
ejge-4303	292	13	confidence	confidence	NOUN
ejge-4303	292	14	or	or	CCONJ
ejge-4303	292	15	"	"	PUNCT
ejge-4303	292	16	feeling	feeling	NOUN
ejge-4303	292	17	"	"	PUNCT
ejge-4303	292	18	about	about	ADP
ejge-4303	292	19	the	the	DET
ejge-4303	292	20	economic	economic	ADJ
ejge-4303	292	21	situation	situation	NOUN
ejge-4303	292	22	which	which	PRON
ejge-4303	292	23	the	the	DET
ejge-4303	292	24	different	different	ADJ
ejge-4303	292	25	economic	economic	ADJ
ejge-4303	292	26	actors	actor	NOUN
ejge-4303	292	27	have	have	VERB
ejge-4303	292	28	is	be	AUX
ejge-4303	292	29	fundamental	fundamental	ADJ
ejge-4303	292	30	in	in	ADP
ejge-4303	292	31	the	the	DET
ejge-4303	292	32	evolution	evolution	NOUN
ejge-4303	292	33	of	of	ADP
ejge-4303	292	34	unemployment	unemployment	NOUN
ejge-4303	292	35	.	.	PUNCT
ejge-4303	293	1	therefore	therefore	ADV
ejge-4303	293	2	,	,	PUNCT
ejge-4303	293	3	in	in	ADP
ejge-4303	293	4	a	a	DET
ejge-4303	293	5	situation	situation	NOUN
ejge-4303	293	6	of	of	ADP
ejge-4303	293	7	increased	increase	VERB
ejge-4303	293	8	confidence	confidence	NOUN
ejge-4303	293	9	in	in	ADP
ejge-4303	293	10	the	the	DET
ejge-4303	293	11	present	present	ADJ
ejge-4303	293	12	and	and	CCONJ
ejge-4303	293	13	future	future	ADJ
ejge-4303	293	14	state	state	NOUN
ejge-4303	293	15	of	of	ADP
ejge-4303	293	16	the	the	DET
ejge-4303	293	17	economy	economy	NOUN
ejge-4303	293	18	,	,	PUNCT
ejge-4303	293	19	more	more	ADJ
ejge-4303	293	20	employees	employee	NOUN
ejge-4303	293	21	would	would	AUX
ejge-4303	293	22	be	be	AUX
ejge-4303	293	23	hired	hire	VERB
ejge-4303	293	24	,	,	PUNCT
ejge-4303	293	25	whereas	whereas	SCONJ
ejge-4303	293	26	worse	bad	ADJ
ejge-4303	293	27	expectations	expectation	NOUN
ejge-4303	293	28	on	on	ADP
ejge-4303	293	29	the	the	DET
ejge-4303	293	30	economic	economic	ADJ
ejge-4303	293	31	situation	situation	NOUN
ejge-4303	293	32	in	in	ADP
ejge-4303	293	33	the	the	DET
ejge-4303	293	34	future	future	NOUN
ejge-4303	293	35	would	would	AUX
ejge-4303	293	36	reduce	reduce	VERB
ejge-4303	293	37	employments	employment	NOUN
ejge-4303	293	38	(	(	PUNCT
ejge-4303	293	39	increasing	increase	VERB
ejge-4303	293	40	the	the	DET
ejge-4303	293	41	unemployment	unemployment	NOUN
ejge-4303	293	42	accordingly	accordingly	ADV
ejge-4303	293	43	)	)	PUNCT
ejge-4303	293	44	.	.	PUNCT
ejge-4303	294	1	although	although	SCONJ
ejge-4303	294	2	this	this	DET
ejge-4303	294	3	study	study	NOUN
ejge-4303	294	4	does	do	AUX
ejge-4303	294	5	not	not	PART
ejge-4303	294	6	conclude	conclude	VERB
ejge-4303	294	7	that	that	SCONJ
ejge-4303	294	8	the	the	DET
ejge-4303	294	9	confidence	confidence	NOUN
ejge-4303	294	10	is	be	AUX
ejge-4303	294	11	the	the	DET
ejge-4303	294	12	only	only	ADJ
ejge-4303	294	13	or	or	CCONJ
ejge-4303	294	14	the	the	DET
ejge-4303	294	15	most	most	ADV
ejge-4303	294	16	important	important	ADJ
ejge-4303	294	17	variable	variable	NOUN
ejge-4303	294	18	to	to	PART
ejge-4303	294	19	consider	consider	VERB
ejge-4303	294	20	in	in	ADP
ejge-4303	294	21	a	a	DET
ejge-4303	294	22	model	model	NOUN
ejge-4303	294	23	explaining	explain	VERB
ejge-4303	294	24	the	the	DET
ejge-4303	294	25	evolution	evolution	NOUN
ejge-4303	294	26	of	of	ADP
ejge-4303	294	27	unemployment	unemployment	NOUN
ejge-4303	294	28	in	in	ADP
ejge-4303	294	29	the	the	DET
ejge-4303	294	30	spanish	spanish	ADJ
ejge-4303	294	31	economy	economy	NOUN
ejge-4303	294	32	,	,	PUNCT
ejge-4303	294	33	the	the	DET
ejge-4303	294	34	results	result	NOUN
ejge-4303	294	35	obtained	obtain	VERB
ejge-4303	294	36	show	show	VERB
ejge-4303	294	37	that	that	SCONJ
ejge-4303	294	38	the	the	DET
ejge-4303	294	39	influence	influence	NOUN
ejge-4303	294	40	of	of	ADP
ejge-4303	294	41	"	"	PUNCT
ejge-4303	294	42	qualitative	qualitative	ADJ
ejge-4303	294	43	"	"	PUNCT
ejge-4303	294	44	factors	factor	NOUN
ejge-4303	294	45	such	such	ADJ
ejge-4303	294	46	as	as	ADP
ejge-4303	294	47	confidence	confidence	NOUN
ejge-4303	294	48	directly	directly	ADV
ejge-4303	294	49	impacts	impact	VERB
ejge-4303	294	50	on	on	ADP
ejge-4303	294	51	the	the	DET
ejge-4303	294	52	economic	economic	ADJ
ejge-4303	294	53	sentiment	sentiment	NOUN
ejge-4303	294	54	and	and	CCONJ
ejge-4303	294	55	causes	cause	VERB
ejge-4303	294	56	a	a	DET
ejge-4303	294	57	decrease	decrease	NOUN
ejge-4303	294	58	in	in	ADP
ejge-4303	294	59	the	the	DET
ejge-4303	294	60	level	level	NOUN
ejge-4303	294	61	of	of	ADP
ejge-4303	294	62	unemployment	unemployment	NOUN
ejge-4303	294	63	.	.	PUNCT
ejge-4303	295	1	4	4	X
ejge-4303	295	2	.	.	X
ejge-4303	295	3	conclusions	conclusion	NOUN
ejge-4303	295	4	the	the	DET
ejge-4303	295	5	relationship	relationship	NOUN
ejge-4303	295	6	between	between	ADP
ejge-4303	295	7	economic	economic	ADJ
ejge-4303	295	8	agents	agent	NOUN
ejge-4303	295	9	’	'	PUNCT
ejge-4303	295	10	confidence	confidence	NOUN
ejge-4303	295	11	and	and	CCONJ
ejge-4303	295	12	the	the	DET
ejge-4303	295	13	real	real	ADJ
ejge-4303	295	14	economy	economy	NOUN
ejge-4303	295	15	is	be	AUX
ejge-4303	295	16	a	a	DET
ejge-4303	295	17	subject	subject	NOUN
ejge-4303	295	18	of	of	ADP
ejge-4303	295	19	great	great	ADJ
ejge-4303	295	20	interest	interest	NOUN
ejge-4303	295	21	to	to	ADP
ejge-4303	295	22	policymakers	policymaker	NOUN
ejge-4303	295	23	.	.	PUNCT
ejge-4303	296	1	on	on	ADP
ejge-4303	296	2	the	the	DET
ejge-4303	296	3	one	one	NUM
ejge-4303	296	4	hand	hand	NOUN
ejge-4303	296	5	,	,	PUNCT
ejge-4303	296	6	confidence	confidence	NOUN
ejge-4303	296	7	,	,	PUNCT
ejge-4303	296	8	insofar	insofar	ADV
ejge-4303	296	9	as	as	SCONJ
ejge-4303	296	10	it	it	PRON
ejge-4303	296	11	affects	affect	VERB
ejge-4303	296	12	economic	economic	ADJ
ejge-4303	296	13	choices	choice	NOUN
ejge-4303	296	14	of	of	ADP
ejge-4303	296	15	consumption	consumption	NOUN
ejge-4303	296	16	,	,	PUNCT
ejge-4303	296	17	saving	saving	NOUN
ejge-4303	296	18	,	,	PUNCT
ejge-4303	296	19	investment	investment	NOUN
ejge-4303	296	20	,	,	PUNCT
ejge-4303	296	21	etc	etc	X
ejge-4303	296	22	.	.	X
ejge-4303	296	23	,	,	PUNCT
ejge-4303	296	24	exerts	exert	VERB
ejge-4303	296	25	an	an	DET
ejge-4303	296	26	influence	influence	NOUN
ejge-4303	296	27	on	on	ADP
ejge-4303	296	28	both	both	CCONJ
ejge-4303	296	29	the	the	DET
ejge-4303	296	30	current	current	ADJ
ejge-4303	296	31	state	state	NOUN
ejge-4303	296	32	of	of	ADP
ejge-4303	296	33	the	the	DET
ejge-4303	296	34	economy	economy	NOUN
ejge-4303	296	35	and	and	CCONJ
ejge-4303	296	36	on	on	ADP
ejge-4303	296	37	the	the	DET
ejge-4303	296	38	perspectives	perspective	NOUN
ejge-4303	296	39	of	of	ADP
ejge-4303	296	40	economic	economic	ADJ
ejge-4303	296	41	growth	growth	NOUN
ejge-4303	296	42	.	.	PUNCT
ejge-4303	297	1	at	at	ADP
ejge-4303	297	2	the	the	DET
ejge-4303	297	3	same	same	ADJ
ejge-4303	297	4	time	time	NOUN
ejge-4303	297	5	,	,	PUNCT
ejge-4303	297	6	the	the	DET
ejge-4303	297	7	behaviour	behaviour	NOUN
ejge-4303	297	8	of	of	ADP
ejge-4303	297	9	confidence	confidence	NOUN
ejge-4303	297	10	indices	index	NOUN
ejge-4303	297	11	may	may	AUX
ejge-4303	297	12	also	also	ADV
ejge-4303	297	13	be	be	AUX
ejge-4303	297	14	conditioned	condition	VERB
ejge-4303	297	15	by	by	ADP
ejge-4303	297	16	the	the	DET
ejge-4303	297	17	evolution	evolution	NOUN
ejge-4303	297	18	of	of	ADP
ejge-4303	297	19	certain	certain	ADJ
ejge-4303	297	20	economic	economic	ADJ
ejge-4303	297	21	and	and	CCONJ
ejge-4303	297	22	financial	financial	ADJ
ejge-4303	297	23	indicators	indicator	NOUN
ejge-4303	297	24	.	.	PUNCT
ejge-4303	298	1	in	in	ADP
ejge-4303	298	2	this	this	DET
ejge-4303	298	3	paper	paper	NOUN
ejge-4303	298	4	we	we	PRON
ejge-4303	298	5	investigate	investigate	VERB
ejge-4303	298	6	the	the	DET
ejge-4303	298	7	role	role	NOUN
ejge-4303	298	8	of	of	ADP
ejge-4303	298	9	confidence	confidence	NOUN
ejge-4303	298	10	in	in	ADP
ejge-4303	298	11	the	the	DET
ejge-4303	298	12	evolution	evolution	NOUN
ejge-4303	298	13	of	of	ADP
ejge-4303	298	14	the	the	DET
ejge-4303	298	15	spanish	spanish	ADJ
ejge-4303	298	16	economy	economy	NOUN
ejge-4303	298	17	.	.	PUNCT
ejge-4303	299	1	particularly	particularly	ADV
ejge-4303	299	2	,	,	PUNCT
ejge-4303	299	3	we	we	PRON
ejge-4303	299	4	try	try	VERB
ejge-4303	299	5	to	to	PART
ejge-4303	299	6	determine	determine	VERB
ejge-4303	299	7	whether	whether	SCONJ
ejge-4303	299	8	confidence	confidence	NOUN
ejge-4303	299	9	should	should	AUX
ejge-4303	299	10	be	be	AUX
ejge-4303	299	11	considered	consider	VERB
ejge-4303	299	12	as	as	ADP
ejge-4303	299	13	a	a	DET
ejge-4303	299	14	explained	explain	VERB
ejge-4303	299	15	or	or	CCONJ
ejge-4303	299	16	a	a	DET
ejge-4303	299	17	explanatory	explanatory	ADJ
ejge-4303	299	18	variable	variable	NOUN
ejge-4303	299	19	.	.	PUNCT
ejge-4303	300	1	with	with	ADP
ejge-4303	300	2	this	this	DET
ejge-4303	300	3	purpose	purpose	NOUN
ejge-4303	300	4	we	we	PRON
ejge-4303	300	5	have	have	AUX
ejge-4303	300	6	incorporated	incorporate	VERB
ejge-4303	300	7	to	to	ADP
ejge-4303	300	8	our	our	PRON
ejge-4303	300	9	analysis	analysis	NOUN
ejge-4303	300	10	some	some	PRON
ejge-4303	300	11	of	of	ADP
ejge-4303	300	12	the	the	DET
ejge-4303	300	13	fundamental	fundamental	ADJ
ejge-4303	300	14	variables	variable	NOUN
ejge-4303	300	15	of	of	ADP
ejge-4303	300	16	the	the	DET
ejge-4303	300	17	spanish	spanish	ADJ
ejge-4303	300	18	economy	economy	NOUN
ejge-4303	300	19	(	(	PUNCT
ejge-4303	300	20	unemployment	unemployment	NOUN
ejge-4303	300	21	,	,	PUNCT
ejge-4303	300	22	inflation	inflation	NOUN
ejge-4303	300	23	,	,	PUNCT
ejge-4303	300	24	private	private	ADJ
ejge-4303	300	25	debt	debt	NOUN
ejge-4303	300	26	/	/	SYM
ejge-4303	300	27	gdp	gdp	NOUN
ejge-4303	300	28	,	,	PUNCT
ejge-4303	300	29	public	public	ADJ
ejge-4303	300	30	debt	debt	NOUN
ejge-4303	300	31	/	/	SYM
ejge-4303	300	32	gdp	gdp	NOUN
ejge-4303	300	33	,	,	PUNCT
ejge-4303	300	34	and	and	CCONJ
ejge-4303	300	35	castellanos	castellanos	PROPN
ejge-4303	300	36	et	et	PROPN
ejge-4303	300	37	al	al	PROPN
ejge-4303	300	38	.	.	PUNCT
ejge-4303	301	1	●	●	PUNCT
ejge-4303	301	2	the	the	DET
ejge-4303	301	3	role	role	NOUN
ejge-4303	301	4	of	of	ADP
ejge-4303	301	5	confidence	confidence	NOUN
ejge-4303	301	6	in	in	ADP
ejge-4303	301	7	the	the	DET
ejge-4303	301	8	evolution	evolution	NOUN
ejge-4303	301	9	of	of	ADP
ejge-4303	301	10	the	the	DET
ejge-4303	301	11	spanish	spanish	ADJ
ejge-4303	301	12	economy	economy	NOUN
ejge-4303	301	13	159	159	NUM
ejge-4303	301	14	borrowing	borrowing	NOUN
ejge-4303	301	15	capacity	capacity	NOUN
ejge-4303	301	16	/	/	SYM
ejge-4303	301	17	gdp	gdp	NOUN
ejge-4303	301	18	)	)	PUNCT
ejge-4303	301	19	along	along	ADP
ejge-4303	301	20	with	with	ADP
ejge-4303	301	21	other	other	ADJ
ejge-4303	301	22	variables	variable	NOUN
ejge-4303	301	23	that	that	PRON
ejge-4303	301	24	contain	contain	VERB
ejge-4303	301	25	qualitative	qualitative	ADJ
ejge-4303	301	26	and	and	CCONJ
ejge-4303	301	27	prospective	prospective	ADJ
ejge-4303	301	28	information	information	NOUN
ejge-4303	301	29	measuring	measure	VERB
ejge-4303	301	30	the	the	DET
ejge-4303	301	31	expectations	expectation	NOUN
ejge-4303	301	32	of	of	ADP
ejge-4303	301	33	the	the	DET
ejge-4303	301	34	economic	economic	ADJ
ejge-4303	301	35	agents	agent	NOUN
ejge-4303	301	36	(	(	PUNCT
ejge-4303	301	37	confidence	confidence	NOUN
ejge-4303	301	38	,	,	PUNCT
ejge-4303	301	39	risk	risk	NOUN
ejge-4303	301	40	premium	premium	NOUN
ejge-4303	301	41	and	and	CCONJ
ejge-4303	301	42	market	market	NOUN
ejge-4303	301	43	volatility	volatility	NOUN
ejge-4303	301	44	)	)	PUNCT
ejge-4303	301	45	.	.	PUNCT
ejge-4303	302	1	with	with	ADP
ejge-4303	302	2	the	the	DET
ejge-4303	302	3	aim	aim	NOUN
ejge-4303	302	4	of	of	ADP
ejge-4303	302	5	determining	determine	VERB
ejge-4303	302	6	the	the	DET
ejge-4303	302	7	existence	existence	NOUN
ejge-4303	302	8	of	of	ADP
ejge-4303	302	9	long	long	ADJ
ejge-4303	302	10	-	-	PUNCT
ejge-4303	302	11	term	term	NOUN
ejge-4303	302	12	relationships	relationship	NOUN
ejge-4303	302	13	between	between	ADP
ejge-4303	302	14	confidence	confidence	NOUN
ejge-4303	302	15	and	and	CCONJ
ejge-4303	302	16	some	some	PRON
ejge-4303	302	17	of	of	ADP
ejge-4303	302	18	the	the	DET
ejge-4303	302	19	fundamentals	fundamental	NOUN
ejge-4303	302	20	of	of	ADP
ejge-4303	302	21	the	the	DET
ejge-4303	302	22	spanish	spanish	ADJ
ejge-4303	302	23	economy	economy	NOUN
ejge-4303	302	24	and	and	CCONJ
ejge-4303	302	25	of	of	ADP
ejge-4303	302	26	exploring	explore	VERB
ejge-4303	302	27	the	the	DET
ejge-4303	302	28	nature	nature	NOUN
ejge-4303	302	29	of	of	ADP
ejge-4303	302	30	these	these	DET
ejge-4303	302	31	relationships	relationship	NOUN
ejge-4303	302	32	,	,	PUNCT
ejge-4303	302	33	we	we	PRON
ejge-4303	302	34	have	have	AUX
ejge-4303	302	35	developed	develop	VERB
ejge-4303	302	36	a	a	DET
ejge-4303	302	37	three	three	NUM
ejge-4303	302	38	step	step	NOUN
ejge-4303	302	39	process	process	NOUN
ejge-4303	302	40	.	.	PUNCT
ejge-4303	303	1	first	first	ADV
ejge-4303	303	2	,	,	PUNCT
ejge-4303	303	3	the	the	DET
ejge-4303	303	4	application	application	NOUN
ejge-4303	303	5	of	of	ADP
ejge-4303	303	6	a	a	DET
ejge-4303	303	7	bound	bind	VERB
ejge-4303	303	8	test	test	NOUN
ejge-4303	303	9	for	for	ADP
ejge-4303	303	10	studying	study	VERB
ejge-4303	303	11	the	the	DET
ejge-4303	303	12	relationship	relationship	NOUN
ejge-4303	303	13	between	between	ADP
ejge-4303	303	14	the	the	DET
ejge-4303	303	15	variables	variable	NOUN
ejge-4303	303	16	considered	consider	VERB
ejge-4303	303	17	in	in	ADP
ejge-4303	303	18	the	the	DET
ejge-4303	303	19	analysis	analysis	NOUN
ejge-4303	303	20	enables	enable	VERB
ejge-4303	303	21	us	we	PRON
ejge-4303	303	22	to	to	PART
ejge-4303	303	23	identify	identify	VERB
ejge-4303	303	24	unemployment	unemployment	NOUN
ejge-4303	303	25	as	as	ADP
ejge-4303	303	26	the	the	DET
ejge-4303	303	27	dependent	dependent	ADJ
ejge-4303	303	28	variable	variable	NOUN
ejge-4303	303	29	in	in	ADP
ejge-4303	303	30	a	a	DET
ejge-4303	303	31	cointegration	cointegration	NOUN
ejge-4303	303	32	model	model	NOUN
ejge-4303	303	33	that	that	PRON
ejge-4303	303	34	includes	include	VERB
ejge-4303	303	35	the	the	DET
ejge-4303	303	36	aforementioned	aforementioned	ADJ
ejge-4303	303	37	variables	variable	NOUN
ejge-4303	303	38	.	.	PUNCT
ejge-4303	304	1	second	second	ADV
ejge-4303	304	2	,	,	PUNCT
ejge-4303	304	3	we	we	PRON
ejge-4303	304	4	have	have	AUX
ejge-4303	304	5	specified	specify	VERB
ejge-4303	304	6	an	an	DET
ejge-4303	304	7	ardl	ardl	NOUN
ejge-4303	304	8	,	,	PUNCT
ejge-4303	304	9	which	which	PRON
ejge-4303	304	10	incorporates	incorporate	VERB
ejge-4303	304	11	both	both	PRON
ejge-4303	304	12	lagged	lag	VERB
ejge-4303	304	13	independent	independent	ADJ
ejge-4303	304	14	variables	variable	NOUN
ejge-4303	304	15	and	and	CCONJ
ejge-4303	304	16	the	the	DET
ejge-4303	304	17	lagged	lag	VERB
ejge-4303	304	18	dependent	dependent	ADJ
ejge-4303	304	19	variable	variable	NOUN
ejge-4303	304	20	(	(	PUNCT
ejge-4303	304	21	the	the	DET
ejge-4303	304	22	unemployment	unemployment	NOUN
ejge-4303	304	23	rate	rate	NOUN
ejge-4303	304	24	)	)	PUNCT
ejge-4303	304	25	as	as	ADP
ejge-4303	304	26	regressors	regressor	NOUN
ejge-4303	304	27	.	.	PUNCT
ejge-4303	305	1	among	among	ADP
ejge-4303	305	2	the	the	DET
ejge-4303	305	3	most	most	ADV
ejge-4303	305	4	relevant	relevant	ADJ
ejge-4303	305	5	results	result	NOUN
ejge-4303	305	6	shown	show	VERB
ejge-4303	305	7	by	by	ADP
ejge-4303	305	8	the	the	DET
ejge-4303	305	9	estimated	estimate	VERB
ejge-4303	305	10	ardl	ardl	NOUN
ejge-4303	305	11	model	model	NOUN
ejge-4303	305	12	it	it	PRON
ejge-4303	305	13	can	can	AUX
ejge-4303	305	14	be	be	AUX
ejge-4303	305	15	emphasised	emphasise	VERB
ejge-4303	305	16	that	that	SCONJ
ejge-4303	305	17	the	the	DET
ejge-4303	305	18	yield	yield	NOUN
ejge-4303	305	19	spread	spread	NOUN
ejge-4303	305	20	of	of	ADP
ejge-4303	305	21	spanish	spanish	ADJ
ejge-4303	305	22	public	public	ADJ
ejge-4303	305	23	debt	debt	NOUN
ejge-4303	305	24	(	(	PUNCT
ejge-4303	305	25	risk	risk	NOUN
ejge-4303	305	26	premium	premium	NOUN
ejge-4303	305	27	)	)	PUNCT
ejge-4303	305	28	has	have	VERB
ejge-4303	305	29	no	no	DET
ejge-4303	305	30	significant	significant	ADJ
ejge-4303	305	31	impact	impact	NOUN
ejge-4303	305	32	on	on	ADP
ejge-4303	305	33	the	the	DET
ejge-4303	305	34	unemployment	unemployment	NOUN
ejge-4303	305	35	rate	rate	NOUN
ejge-4303	305	36	.	.	PUNCT
ejge-4303	306	1	this	this	DET
ejge-4303	306	2	model	model	NOUN
ejge-4303	306	3	also	also	ADV
ejge-4303	306	4	reveals	reveal	VERB
ejge-4303	306	5	that	that	SCONJ
ejge-4303	306	6	the	the	DET
ejge-4303	306	7	esi	esi	PROPN
ejge-4303	306	8	of	of	ADP
ejge-4303	306	9	spain	spain	PROPN
ejge-4303	306	10	is	be	AUX
ejge-4303	306	11	a	a	DET
ejge-4303	306	12	variable	variable	NOUN
ejge-4303	306	13	that	that	PRON
ejge-4303	306	14	shows	show	VERB
ejge-4303	306	15	an	an	DET
ejge-4303	306	16	inverse	inverse	NOUN
ejge-4303	306	17	relationship	relationship	NOUN
ejge-4303	306	18	with	with	ADP
ejge-4303	306	19	the	the	DET
ejge-4303	306	20	level	level	NOUN
ejge-4303	306	21	of	of	ADP
ejge-4303	306	22	unemployment	unemployment	NOUN
ejge-4303	306	23	,	,	PUNCT
ejge-4303	306	24	that	that	ADV
ejge-4303	306	25	is	is	ADV
ejge-4303	306	26	,	,	PUNCT
ejge-4303	306	27	esi_sp	esi_sp	PROPN
ejge-4303	307	1	increments	increment	NOUN
ejge-4303	307	2	are	be	AUX
ejge-4303	307	3	closely	closely	ADV
ejge-4303	307	4	associated	associate	VERB
ejge-4303	307	5	with	with	ADP
ejge-4303	307	6	long	long	ADJ
ejge-4303	307	7	-	-	PUNCT
ejge-4303	307	8	term	term	NOUN
ejge-4303	307	9	unemployment	unemployment	NOUN
ejge-4303	307	10	decreases	decrease	NOUN
ejge-4303	307	11	and	and	CCONJ
ejge-4303	307	12	vice	vice	NOUN
ejge-4303	307	13	versa	versa	ADV
ejge-4303	307	14	.	.	PUNCT
ejge-4303	308	1	additionally	additionally	ADV
ejge-4303	308	2	,	,	PUNCT
ejge-4303	308	3	the	the	DET
ejge-4303	308	4	results	result	NOUN
ejge-4303	308	5	obtained	obtain	VERB
ejge-4303	308	6	from	from	ADP
ejge-4303	308	7	the	the	DET
ejge-4303	308	8	mce	mce	PROPN
ejge-4303	308	9	show	show	NOUN
ejge-4303	308	10	that	that	SCONJ
ejge-4303	308	11	increases	increase	VERB
ejge-4303	308	12	in	in	ADP
ejge-4303	308	13	the	the	DET
ejge-4303	308	14	confidence	confidence	NOUN
ejge-4303	308	15	measured	measure	VERB
ejge-4303	308	16	by	by	ADP
ejge-4303	308	17	the	the	DET
ejge-4303	308	18	esi_sp	esi_sp	PROPN
ejge-4303	308	19	have	have	AUX
ejge-4303	308	20	a	a	DET
ejge-4303	308	21	positive	positive	ADJ
ejge-4303	308	22	relationship	relationship	NOUN
ejge-4303	308	23	with	with	ADP
ejge-4303	308	24	the	the	DET
ejge-4303	308	25	decrease	decrease	NOUN
ejge-4303	308	26	in	in	ADP
ejge-4303	308	27	the	the	DET
ejge-4303	308	28	unemployment	unemployment	NOUN
ejge-4303	308	29	rate	rate	NOUN
ejge-4303	308	30	in	in	ADP
ejge-4303	308	31	spain	spain	PROPN
ejge-4303	308	32	also	also	ADV
ejge-4303	308	33	in	in	ADP
ejge-4303	308	34	the	the	DET
ejge-4303	308	35	short	short	ADJ
ejge-4303	308	36	term	term	NOUN
ejge-4303	308	37	.	.	PUNCT
ejge-4303	309	1	finally	finally	ADV
ejge-4303	309	2	,	,	PUNCT
ejge-4303	309	3	since	since	SCONJ
ejge-4303	309	4	the	the	DET
ejge-4303	309	5	existence	existence	NOUN
ejge-4303	309	6	of	of	ADP
ejge-4303	309	7	a	a	DET
ejge-4303	309	8	long	long	ADJ
ejge-4303	309	9	-	-	PUNCT
ejge-4303	309	10	term	term	NOUN
ejge-4303	309	11	relationship	relationship	NOUN
ejge-4303	309	12	is	be	AUX
ejge-4303	309	13	a	a	DET
ejge-4303	309	14	necessary	necessary	ADJ
ejge-4303	309	15	but	but	CCONJ
ejge-4303	309	16	not	not	PART
ejge-4303	309	17	sufficient	sufficient	ADJ
ejge-4303	309	18	condition	condition	NOUN
ejge-4303	309	19	for	for	ADP
ejge-4303	309	20	the	the	DET
ejge-4303	309	21	existence	existence	NOUN
ejge-4303	309	22	of	of	ADP
ejge-4303	309	23	causality	causality	NOUN
ejge-4303	309	24	,	,	PUNCT
ejge-4303	309	25	we	we	PRON
ejge-4303	309	26	also	also	ADV
ejge-4303	309	27	proceeded	proceed	VERB
ejge-4303	309	28	to	to	PART
ejge-4303	309	29	analyse	analyse	VERB
ejge-4303	309	30	the	the	DET
ejge-4303	309	31	relationship	relationship	NOUN
ejge-4303	309	32	between	between	ADP
ejge-4303	309	33	unemployment	unemployment	NOUN
ejge-4303	309	34	and	and	CCONJ
ejge-4303	309	35	confidence	confidence	NOUN
ejge-4303	309	36	through	through	ADP
ejge-4303	309	37	a	a	DET
ejge-4303	309	38	test	test	NOUN
ejge-4303	309	39	of	of	ADP
ejge-4303	309	40	granger	granger	PROPN
ejge-4303	309	41	.	.	PUNCT
ejge-4303	310	1	this	this	DET
ejge-4303	310	2	test	test	NOUN
ejge-4303	310	3	shows	show	VERB
ejge-4303	310	4	unidirectional	unidirectional	ADJ
ejge-4303	310	5	granger	granger	PROPN
ejge-4303	310	6	causality	causality	NOUN
ejge-4303	310	7	from	from	ADP
ejge-4303	310	8	esi_sp	esi_sp	PROPN
ejge-4303	310	9	towards	towards	ADP
ejge-4303	310	10	the	the	DET
ejge-4303	310	11	unemployment	unemployment	NOUN
ejge-4303	310	12	rate	rate	NOUN
ejge-4303	310	13	for	for	ADP
ejge-4303	310	14	the	the	DET
ejge-4303	310	15	case	case	NOUN
ejge-4303	310	16	of	of	ADP
ejge-4303	310	17	four	four	NUM
ejge-4303	310	18	lags	lag	NOUN
ejge-4303	310	19	.	.	PUNCT
ejge-4303	311	1	these	these	DET
ejge-4303	311	2	results	result	NOUN
ejge-4303	311	3	lead	lead	VERB
ejge-4303	311	4	us	we	PRON
ejge-4303	311	5	to	to	PART
ejge-4303	311	6	consider	consider	VERB
ejge-4303	311	7	the	the	DET
ejge-4303	311	8	confidence	confidence	NOUN
ejge-4303	311	9	as	as	ADP
ejge-4303	311	10	a	a	DET
ejge-4303	311	11	variable	variable	NOUN
ejge-4303	311	12	with	with	ADP
ejge-4303	311	13	a	a	DET
ejge-4303	311	14	long	long	ADJ
ejge-4303	311	15	-	-	PUNCT
ejge-4303	311	16	term	term	NOUN
ejge-4303	311	17	relationship	relationship	NOUN
ejge-4303	311	18	and	and	CCONJ
ejge-4303	311	19	that	that	PRON
ejge-4303	311	20	causes	cause	VERB
ejge-4303	311	21	unemployment	unemployment	NOUN
ejge-4303	311	22	in	in	ADP
ejge-4303	311	23	the	the	DET
ejge-4303	311	24	granger	granger	NOUN
ejge-4303	311	25	sense	sense	NOUN
ejge-4303	311	26	.	.	PUNCT
ejge-4303	312	1	this	this	PRON
ejge-4303	312	2	is	be	AUX
ejge-4303	312	3	a	a	DET
ejge-4303	312	4	result	result	NOUN
ejge-4303	312	5	that	that	PRON
ejge-4303	312	6	does	do	AUX
ejge-4303	312	7	not	not	PART
ejge-4303	312	8	fully	fully	ADV
ejge-4303	312	9	explain	explain	VERB
ejge-4303	312	10	the	the	DET
ejge-4303	312	11	behaviour	behaviour	NOUN
ejge-4303	312	12	of	of	ADP
ejge-4303	312	13	the	the	DET
ejge-4303	312	14	unemployment	unemployment	NOUN
ejge-4303	312	15	rate	rate	NOUN
ejge-4303	312	16	variable	variable	NOUN
ejge-4303	312	17	(	(	PUNCT
ejge-4303	312	18	whose	whose	DET
ejge-4303	312	19	evolution	evolution	NOUN
ejge-4303	312	20	is	be	AUX
ejge-4303	312	21	also	also	ADV
ejge-4303	312	22	due	due	ADJ
ejge-4303	312	23	to	to	ADP
ejge-4303	312	24	other	other	ADJ
ejge-4303	312	25	factors	factor	NOUN
ejge-4303	312	26	)	)	PUNCT
ejge-4303	312	27	,	,	PUNCT
ejge-4303	312	28	but	but	CCONJ
ejge-4303	312	29	it	it	PRON
ejge-4303	312	30	would	would	AUX
ejge-4303	312	31	emphasise	emphasise	VERB
ejge-4303	312	32	the	the	DET
ejge-4303	312	33	importance	importance	NOUN
ejge-4303	312	34	of	of	ADP
ejge-4303	312	35	a	a	DET
ejge-4303	312	36	qualitative	qualitative	ADJ
ejge-4303	312	37	variable	variable	NOUN
ejge-4303	312	38	such	such	ADJ
ejge-4303	312	39	as	as	ADP
ejge-4303	312	40	the	the	DET
ejge-4303	312	41	confidence	confidence	NOUN
ejge-4303	312	42	of	of	ADP
ejge-4303	312	43	economic	economic	ADJ
ejge-4303	312	44	agents	agent	NOUN
ejge-4303	312	45	in	in	ADP
ejge-4303	312	46	relation	relation	NOUN
ejge-4303	312	47	to	to	ADP
ejge-4303	312	48	job	job	NOUN
ejge-4303	312	49	creation	creation	NOUN
ejge-4303	312	50	.	.	PUNCT
ejge-4303	313	1	furthermore	furthermore	ADV
ejge-4303	313	2	,	,	PUNCT
ejge-4303	313	3	this	this	DET
ejge-4303	313	4	finding	finding	NOUN
ejge-4303	313	5	corroborates	corroborate	VERB
ejge-4303	313	6	the	the	DET
ejge-4303	313	7	importance	importance	NOUN
ejge-4303	313	8	of	of	ADP
ejge-4303	313	9	the	the	DET
ejge-4303	313	10	role	role	NOUN
ejge-4303	313	11	played	play	VERB
ejge-4303	313	12	by	by	ADP
ejge-4303	313	13	confidence	confidence	NOUN
ejge-4303	313	14	in	in	ADP
ejge-4303	313	15	the	the	DET
ejge-4303	313	16	spanish	spanish	ADJ
ejge-4303	313	17	economy	economy	NOUN
ejge-4303	313	18	.	.	PUNCT
ejge-4303	314	1	on	on	ADP
ejge-4303	314	2	the	the	DET
ejge-4303	314	3	one	one	NUM
ejge-4303	314	4	hand	hand	NOUN
ejge-4303	314	5	,	,	PUNCT
ejge-4303	314	6	the	the	DET
ejge-4303	314	7	existence	existence	NOUN
ejge-4303	314	8	of	of	ADP
ejge-4303	314	9	this	this	DET
ejge-4303	314	10	causality	causality	NOUN
ejge-4303	314	11	justifies	justify	VERB
ejge-4303	314	12	the	the	DET
ejge-4303	314	13	need	need	NOUN
ejge-4303	314	14	of	of	ADP
ejge-4303	314	15	including	include	VERB
ejge-4303	314	16	the	the	DET
ejge-4303	314	17	confidence	confidence	NOUN
ejge-4303	314	18	in	in	ADP
ejge-4303	314	19	macroeconomic	macroeconomic	ADJ
ejge-4303	314	20	models	model	NOUN
ejge-4303	314	21	that	that	PRON
ejge-4303	314	22	seek	seek	VERB
ejge-4303	314	23	to	to	PART
ejge-4303	314	24	explain	explain	VERB
ejge-4303	314	25	the	the	DET
ejge-4303	314	26	evolution	evolution	NOUN
ejge-4303	314	27	of	of	ADP
ejge-4303	314	28	unemployment	unemployment	NOUN
ejge-4303	314	29	in	in	ADP
ejge-4303	314	30	spain	spain	PROPN
ejge-4303	314	31	.	.	PUNCT
ejge-4303	315	1	on	on	ADP
ejge-4303	315	2	the	the	DET
ejge-4303	315	3	other	other	ADJ
ejge-4303	315	4	hand	hand	NOUN
ejge-4303	315	5	,	,	PUNCT
ejge-4303	315	6	policy	policy	NOUN
ejge-4303	315	7	implications	implication	NOUN
ejge-4303	315	8	also	also	ADV
ejge-4303	315	9	emerge	emerge	VERB
ejge-4303	315	10	from	from	ADP
ejge-4303	315	11	the	the	DET
ejge-4303	315	12	results	result	NOUN
ejge-4303	315	13	obtained	obtain	VERB
ejge-4303	315	14	,	,	PUNCT
ejge-4303	315	15	which	which	PRON
ejge-4303	315	16	highlight	highlight	VERB
ejge-4303	315	17	the	the	DET
ejge-4303	315	18	importance	importance	NOUN
ejge-4303	315	19	of	of	ADP
ejge-4303	315	20	implementing	implement	VERB
ejge-4303	315	21	economic	economic	ADJ
ejge-4303	315	22	policies	policy	NOUN
ejge-4303	315	23	that	that	PRON
ejge-4303	315	24	encourage	encourage	VERB
ejge-4303	315	25	confidence	confidence	NOUN
ejge-4303	315	26	among	among	ADP
ejge-4303	315	27	economic	economic	ADJ
ejge-4303	315	28	agents	agent	NOUN
ejge-4303	315	29	if	if	SCONJ
ejge-4303	315	30	the	the	DET
ejge-4303	315	31	ultimate	ultimate	ADJ
ejge-4303	315	32	goal	goal	NOUN
ejge-4303	315	33	is	be	AUX
ejge-4303	315	34	to	to	PART
ejge-4303	315	35	reduce	reduce	VERB
ejge-4303	315	36	unemployment	unemployment	NOUN
ejge-4303	315	37	.	.	PUNCT
ejge-4303	316	1	thus	thus	ADV
ejge-4303	316	2	,	,	PUNCT
ejge-4303	316	3	empirical	empirical	ADJ
ejge-4303	316	4	evidence	evidence	NOUN
ejge-4303	316	5	reveals	reveal	VERB
ejge-4303	316	6	that	that	SCONJ
ejge-4303	316	7	one	one	NUM
ejge-4303	316	8	of	of	ADP
ejge-4303	316	9	the	the	DET
ejge-4303	316	10	criteria	criterion	NOUN
ejge-4303	316	11	to	to	PART
ejge-4303	316	12	be	be	AUX
ejge-4303	316	13	considered	consider	VERB
ejge-4303	316	14	when	when	SCONJ
ejge-4303	316	15	evaluating	evaluate	VERB
ejge-4303	316	16	economic	economic	ADJ
ejge-4303	316	17	policy	policy	NOUN
ejge-4303	316	18	decisions	decision	NOUN
ejge-4303	316	19	would	would	AUX
ejge-4303	316	20	be	be	AUX
ejge-4303	316	21	their	their	PRON
ejge-4303	316	22	influence	influence	NOUN
ejge-4303	316	23	on	on	ADP
ejge-4303	316	24	confidence	confidence	NOUN
ejge-4303	316	25	.	.	PUNCT
ejge-4303	317	1	references	reference	NOUN
ejge-4303	317	2	arif	arif	PROPN
ejge-4303	317	3	,	,	PUNCT
ejge-4303	317	4	salman	salman	PROPN
ejge-4303	317	5	and	and	CCONJ
ejge-4303	317	6	charles	charles	PROPN
ejge-4303	317	7	m.c	m.c	PROPN
ejge-4303	317	8	.	.	PROPN
ejge-4303	317	9	lee	lee	PROPN
ejge-4303	317	10	(	(	PUNCT
ejge-4303	317	11	2014	2014	NUM
ejge-4303	317	12	)	)	PUNCT
ejge-4303	317	13	`	`	PUNCT
ejge-4303	317	14	aggregate	aggregate	VERB
ejge-4303	317	15	investment	investment	NOUN
ejge-4303	317	16	and	and	CCONJ
ejge-4303	317	17	investor	investor	NOUN
ejge-4303	317	18	sentiment	sentiment	NOUN
ejge-4303	317	19	´	´	NOUN
ejge-4303	317	20	,	,	PUNCT
ejge-4303	317	21	the	the	DET
ejge-4303	317	22	review	review	NOUN
ejge-4303	317	23	of	of	ADP
ejge-4303	317	24	financial	financial	ADJ
ejge-4303	317	25	studies	study	NOUN
ejge-4303	317	26	27(11	27(11	NUM
ejge-4303	317	27	):	):	PUNCT
ejge-4303	317	28	3241	3241	NUM
ejge-4303	317	29	-	-	SYM
ejge-4303	317	30	3279	3279	NUM
ejge-4303	317	31	.	.	PUNCT
ejge-4303	318	1	bloom	bloom	NOUN
ejge-4303	318	2	,	,	PUNCT
ejge-4303	318	3	nicholas	nicholas	PROPN
ejge-4303	318	4	(	(	PUNCT
ejge-4303	318	5	2009	2009	NUM
ejge-4303	318	6	)	)	PUNCT
ejge-4303	318	7	‘	'	PUNCT
ejge-4303	318	8	the	the	DET
ejge-4303	318	9	impact	impact	NOUN
ejge-4303	318	10	of	of	ADP
ejge-4303	318	11	uncertainty	uncertainty	NOUN
ejge-4303	318	12	shocks	shock	NOUN
ejge-4303	318	13	’	'	PUNCT
ejge-4303	318	14	,	,	PUNCT
ejge-4303	318	15	econometrica	econometrica	PROPN
ejge-4303	318	16	77(3	77(3	NOUN
ejge-4303	318	17	):	):	PUNCT
ejge-4303	318	18	623–68	623–68	PROPN
ejge-4303	318	19	carroll	carroll	PROPN
ejge-4303	318	20	,	,	PUNCT
ejge-4303	318	21	christopher	christopher	PROPN
ejge-4303	318	22	d.	d.	PROPN
ejge-4303	318	23	,	,	PUNCT
ejge-4303	318	24	jeffrey	jeffrey	PROPN
ejge-4303	318	25	c	c	PROPN
ejge-4303	318	26	fuhrer	fuhrer	PROPN
ejge-4303	318	27	and	and	CCONJ
ejge-4303	318	28	david	david	PROPN
ejge-4303	318	29	w.	w.	PROPN
ejge-4303	318	30	wilcox	wilcox	PROPN
ejge-4303	318	31	,	,	PUNCT
ejge-4303	318	32	(	(	PUNCT
ejge-4303	318	33	1994	1994	NUM
ejge-4303	318	34	)	)	PUNCT
ejge-4303	318	35	`	`	PUNCT
ejge-4303	318	36	does	do	AUX
ejge-4303	318	37	consumer	consumer	NOUN
ejge-4303	318	38	sentiment	sentiment	NOUN
ejge-4303	318	39	forecast	forecast	VERB
ejge-4303	318	40	household	household	NOUN
ejge-4303	318	41	spending	spending	NOUN
ejge-4303	318	42	?	?	PUNCT
ejge-4303	319	1	if	if	SCONJ
ejge-4303	319	2	so	so	ADV
ejge-4303	319	3	,	,	PUNCT
ejge-4303	319	4	why	why	SCONJ
ejge-4303	319	5	?	?	PUNCT
ejge-4303	319	6	´	´	PROPN
ejge-4303	319	7	american	american	PROPN
ejge-4303	319	8	economic	economic	ADJ
ejge-4303	319	9	review	review	NOUN
ejge-4303	319	10	84	84	NUM
ejge-4303	319	11	(	(	PUNCT
ejge-4303	319	12	5	5	NUM
ejge-4303	319	13	):	):	PUNCT
ejge-4303	319	14	1397	1397	NUM
ejge-4303	319	15	-	-	SYM
ejge-4303	319	16	1408	1408	NUM
ejge-4303	319	17	.	.	PUNCT
ejge-4303	320	1	chicago	chicago	PROPN
ejge-4303	320	2	board	board	PROPN
ejge-4303	320	3	options	option	NOUN
ejge-4303	320	4	exchange	exchange	NOUN
ejge-4303	320	5	(	(	PUNCT
ejge-4303	320	6	2014	2014	NUM
ejge-4303	320	7	)	)	PUNCT
ejge-4303	320	8	introduction	introduction	NOUN
ejge-4303	320	9	to	to	ADP
ejge-4303	320	10	vix	vix	NOUN
ejge-4303	320	11	options	option	NOUN
ejge-4303	320	12	and	and	CCONJ
ejge-4303	320	13	futures	future	NOUN
ejge-4303	320	14	,	,	PUNCT
ejge-4303	320	15	url	url	X
ejge-4303	320	16	(	(	PUNCT
ejge-4303	320	17	consulted	consult	VERB
ejge-4303	320	18	nov	nov	PROPN
ejge-4303	320	19	.	.	PROPN
ejge-4303	320	20	2014	2014	NUM
ejge-4303	320	21	):	):	PUNCT
ejge-4303	320	22	http://www.cboe.com/micro/vix/vixintro.aspx	http://www.cboe.com/micro/vix/vixintro.aspx	NUM
ejge-4303	320	23	claveria	claveria	NOUN
ejge-4303	320	24	,	,	PUNCT
ejge-4303	320	25	oscar	oscar	PROPN
ejge-4303	320	26	,	,	PUNCT
ejge-4303	320	27	ernest	ernest	PROPN
ejge-4303	320	28	pons	pon	NOUN
ejge-4303	320	29	and	and	CCONJ
ejge-4303	320	30	raúl	raúl	NOUN
ejge-4303	320	31	ramos	ramos	PROPN
ejge-4303	320	32	(	(	PUNCT
ejge-4303	320	33	2007	2007	NUM
ejge-4303	320	34	)	)	PUNCT
ejge-4303	320	35	`	`	PUNCT
ejge-4303	320	36	business	business	NOUN
ejge-4303	320	37	and	and	CCONJ
ejge-4303	320	38	consumer	consumer	NOUN
ejge-4303	320	39	expectations	expectation	NOUN
ejge-4303	320	40	and	and	CCONJ
ejge-4303	320	41	macroeconomic	macroeconomic	ADJ
ejge-4303	320	42	forecasts	forecast	NOUN
ejge-4303	320	43	´	´	NOUN
ejge-4303	320	44	,	,	PUNCT
ejge-4303	320	45	international	international	ADJ
ejge-4303	320	46	journal	journal	NOUN
ejge-4303	320	47	of	of	ADP
ejge-4303	320	48	forecasting	forecasting	NOUN
ejge-4303	320	49	23(1	23(1	NUM
ejge-4303	320	50	):	):	PUNCT
ejge-4303	320	51	47	47	NUM
ejge-4303	320	52	-	-	SYM
ejge-4303	320	53	69	69	NUM
ejge-4303	320	54	.	.	PUNCT
ejge-4303	321	1	european	european	PROPN
ejge-4303	321	2	journal	journal	PROPN
ejge-4303	321	3	of	of	ADP
ejge-4303	321	4	government	government	NOUN
ejge-4303	321	5	and	and	CCONJ
ejge-4303	321	6	economics	economic	NOUN
ejge-4303	321	7	3(2	3(2	NUM
ejge-4303	321	8	)	)	PUNCT
ejge-4303	321	9	160	160	NUM
ejge-4303	321	10	dominitz	dominitz	NOUN
ejge-4303	321	11	,	,	PUNCT
ejge-4303	321	12	jeff	jeff	PROPN
ejge-4303	321	13	and	and	CCONJ
ejge-4303	321	14	charles	charles	PROPN
ejge-4303	321	15	f.	f.	PROPN
ejge-4303	321	16	manski	manski	PROPN
ejge-4303	321	17	(	(	PUNCT
ejge-4303	321	18	2004	2004	NUM
ejge-4303	321	19	)	)	PUNCT
ejge-4303	322	1	‘	'	PUNCT
ejge-4303	322	2	how	how	SCONJ
ejge-4303	322	3	should	should	AUX
ejge-4303	322	4	we	we	PRON
ejge-4303	322	5	measure	measure	VERB
ejge-4303	322	6	consumer	consumer	NOUN
ejge-4303	322	7	confidence	confidence	NOUN
ejge-4303	322	8	?	?	PUNCT
ejge-4303	322	9	’	'	PUNCT
ejge-4303	322	10	,	,	PUNCT
ejge-4303	322	11	journal	journal	NOUN
ejge-4303	322	12	of	of	ADP
ejge-4303	322	13	economic	economic	ADJ
ejge-4303	322	14	perspectives	perspective	NOUN
ejge-4303	322	15	18(2	18(2	NUM
ejge-4303	322	16	):	):	PUNCT
ejge-4303	322	17	51	51	NUM
ejge-4303	322	18	-	-	SYM
ejge-4303	322	19	66	66	NUM
ejge-4303	322	20	.	.	PUNCT
ejge-4303	323	1	easaw	easaw	PROPN
ejge-4303	323	2	,	,	PUNCT
ejge-4303	323	3	joshy	joshy	PROPN
ejge-4303	323	4	z.	z.	PROPN
ejge-4303	323	5	,	,	PUNCT
ejge-4303	323	6	dean	dean	PROPN
ejge-4303	323	7	garratt	garratt	PROPN
ejge-4303	323	8	and	and	CCONJ
ejge-4303	323	9	saeed	saeed	PROPN
ejge-4303	323	10	m.	m.	PROPN
ejge-4303	323	11	heravi	heravi	PROPN
ejge-4303	323	12	,	,	PUNCT
ejge-4303	323	13	(	(	PUNCT
ejge-4303	323	14	2005	2005	NUM
ejge-4303	323	15	)	)	PUNCT
ejge-4303	323	16	`	`	PUNCT
ejge-4303	323	17	does	do	AUX
ejge-4303	323	18	consumer	consumer	NOUN
ejge-4303	323	19	sentiment	sentiment	NOUN
ejge-4303	323	20	accurately	accurately	ADV
ejge-4303	323	21	forecast	forecast	VERB
ejge-4303	323	22	uk	uk	PROPN
ejge-4303	323	23	household	household	NOUN
ejge-4303	323	24	consumption	consumption	NOUN
ejge-4303	323	25	?	?	PUNCT
ejge-4303	324	1	are	be	AUX
ejge-4303	324	2	there	there	PRON
ejge-4303	324	3	any	any	DET
ejge-4303	324	4	comparisons	comparison	NOUN
ejge-4303	324	5	to	to	PART
ejge-4303	324	6	be	be	AUX
ejge-4303	324	7	made	make	VERB
ejge-4303	324	8	with	with	ADP
ejge-4303	324	9	the	the	DET
ejge-4303	324	10	us	we	PRON
ejge-4303	324	11	?	?	PUNCT
ejge-4303	325	1	´	´	NOUN
ejge-4303	325	2	,	,	PUNCT
ejge-4303	325	3	journal	journal	NOUN
ejge-4303	325	4	macroeconomics	macroeconomic	NOUN
ejge-4303	325	5	27(3	27(3	NUM
ejge-4303	325	6	):	):	PUNCT
ejge-4303	325	7	517	517	NUM
ejge-4303	325	8	-	-	SYM
ejge-4303	325	9	532	532	NUM
ejge-4303	325	10	.	.	PUNCT
ejge-4303	326	1	european	european	PROPN
ejge-4303	326	2	commision	commision	PROPN
ejge-4303	326	3	(	(	PUNCT
ejge-4303	326	4	2004	2004	NUM
ejge-4303	326	5	)	)	PUNCT
ejge-4303	327	1	`	`	PUNCT
ejge-4303	327	2	the	the	DET
ejge-4303	327	3	joint	joint	ADJ
ejge-4303	327	4	harmonised	harmonise	VERB
ejge-4303	327	5	eu	eu	PROPN
ejge-4303	327	6	programme	programme	NOUN
ejge-4303	327	7	of	of	ADP
ejge-4303	327	8	business	business	NOUN
ejge-4303	327	9	and	and	CCONJ
ejge-4303	327	10	consumer	consumer	NOUN
ejge-4303	327	11	surveys	survey	NOUN
ejge-4303	327	12	.	.	PUNCT
ejge-4303	328	1	user	user	NOUN
ejge-4303	328	2	guide	guide	PROPN
ejge-4303	328	3	´	´	PROPN
ejge-4303	328	4	.	.	PUNCT
ejge-4303	329	1	directorate	directorate	ADJ
ejge-4303	329	2	-	-	PUNCT
ejge-4303	329	3	general	general	ADJ
ejge-4303	329	4	for	for	ADP
ejge-4303	329	5	economic	economic	ADJ
ejge-4303	329	6	and	and	CCONJ
ejge-4303	329	7	financial	financial	ADJ
ejge-4303	329	8	affairs	affair	NOUN
ejge-4303	329	9	,	,	PUNCT
ejge-4303	329	10	brussels	brussels	PROPN
ejge-4303	329	11	,	,	PUNCT
ejge-4303	329	12	url	url	X
ejge-4303	329	13	(	(	PUNCT
ejge-4303	329	14	consulted	consult	VERB
ejge-4303	329	15	nov.2014	nov.2014	NOUN
ejge-4303	329	16	):	):	PUNCT
ejge-4303	329	17	http://ec.europa.eu/economy_finance/db_indicators/surveys/documents/bcs_user	http://ec.europa.eu/economy_finance/db_indicators/surveys/documents/bcs_user	NOUN
ejge-4303	329	18	_	_	PRON
ejge-4303	329	19	guide_en.pdf	guide_en.pdf	PROPN
ejge-4303	329	20	european	european	PROPN
ejge-4303	329	21	council	council	PROPN
ejge-4303	329	22	(	(	PUNCT
ejge-4303	329	23	2009	2009	NUM
ejge-4303	329	24	)	)	PUNCT
ejge-4303	329	25	council	council	NOUN
ejge-4303	329	26	regulation	regulation	NOUN
ejge-4303	329	27	(	(	PUNCT
ejge-4303	329	28	ec	ec	PROPN
ejge-4303	329	29	)	)	PUNCT
ejge-4303	329	30	no	no	DET
ejge-4303	329	31	479/2009	479/2009	NUM
ejge-4303	329	32	,	,	PUNCT
ejge-4303	329	33	official	official	ADJ
ejge-4303	329	34	journal	journal	NOUN
ejge-4303	329	35	of	of	ADP
ejge-4303	329	36	the	the	DET
ejge-4303	329	37	european	european	PROPN
ejge-4303	329	38	union	union	PROPN
ejge-4303	329	39	,	,	PUNCT
ejge-4303	329	40	url	url	X
ejge-4303	329	41	(	(	PUNCT
ejge-4303	329	42	consulted	consult	VERB
ejge-4303	329	43	nov	nov	PROPN
ejge-4303	329	44	.	.	PROPN
ejge-4303	329	45	2014	2014	NUM
ejge-4303	329	46	):	):	PUNCT
ejge-4303	329	47	http://epp.eurostat.ec.europa.eu/cache/ity_sdds/annexes/ei_naga_a_esms_an2	http://epp.eurostat.ec.europa.eu/cache/ity_sdds/annexes/ei_naga_a_esms_an2	PROPN
ejge-4303	329	48	.pdf	.pdf	PROPN
ejge-4303	329	49	ferreira	ferreira	PROPN
ejge-4303	329	50	,	,	PUNCT
ejge-4303	329	51	eva	eva	PROPN
ejge-4303	329	52	,	,	PUNCT
ejge-4303	329	53	maria	maria	PROPN
ejge-4303	329	54	i.	i.	PROPN
ejge-4303	329	55	martínez	martínez	PROPN
ejge-4303	329	56	,	,	PUNCT
ejge-4303	329	57	eliseo	eliseo	PROPN
ejge-4303	329	58	navarro	navarro	PROPN
ejge-4303	329	59	and	and	CCONJ
ejge-4303	329	60	gonzalo	gonzalo	PROPN
ejge-4303	329	61	rubio	rubio	PROPN
ejge-4303	329	62	(	(	PUNCT
ejge-4303	329	63	2008	2008	NUM
ejge-4303	329	64	)	)	PUNCT
ejge-4303	330	1	`	`	PUNCT
ejge-4303	330	2	economic	economic	ADJ
ejge-4303	330	3	sentiment	sentiment	NOUN
ejge-4303	330	4	and	and	CCONJ
ejge-4303	330	5	yield	yield	VERB
ejge-4303	330	6	spreads	spread	NOUN
ejge-4303	330	7	in	in	ADP
ejge-4303	330	8	europe	europe	PROPN
ejge-4303	330	9	´	´	NOUN
ejge-4303	330	10	,	,	PUNCT
ejge-4303	330	11	european	european	ADJ
ejge-4303	330	12	financial	financial	ADJ
ejge-4303	330	13	management	management	NOUN
ejge-4303	330	14	14(2	14(2	NUM
ejge-4303	330	15	):	):	PUNCT
ejge-4303	330	16	206	206	NUM
ejge-4303	330	17	-	-	SYM
ejge-4303	330	18	221	221	NUM
ejge-4303	330	19	.	.	PUNCT
ejge-4303	331	1	fuhrer	fuhrer	NOUN
ejge-4303	331	2	,	,	PUNCT
ejge-4303	331	3	jeffrey	jeffrey	PROPN
ejge-4303	331	4	c.	c.	PROPN
ejge-4303	331	5	(	(	PUNCT
ejge-4303	331	6	1993	1993	NUM
ejge-4303	331	7	)	)	PUNCT
ejge-4303	332	1	`	`	PUNCT
ejge-4303	332	2	what	what	DET
ejge-4303	332	3	role	role	NOUN
ejge-4303	332	4	does	do	VERB
ejge-4303	332	5	consumer	consumer	NOUN
ejge-4303	332	6	sentiment	sentiment	NOUN
ejge-4303	332	7	play	play	VERB
ejge-4303	332	8	in	in	ADP
ejge-4303	332	9	the	the	DET
ejge-4303	332	10	u.s	u.s	PROPN
ejge-4303	332	11	.	.	PROPN
ejge-4303	332	12	economy	economy	NOUN
ejge-4303	332	13	?	?	PUNCT
ejge-4303	332	14	´	´	PROPN
ejge-4303	332	15	federal	federal	PROPN
ejge-4303	332	16	reserve	reserve	PROPN
ejge-4303	332	17	bank	bank	PROPN
ejge-4303	332	18	of	of	ADP
ejge-4303	332	19	boston	boston	PROPN
ejge-4303	332	20	new	new	PROPN
ejge-4303	332	21	england	england	PROPN
ejge-4303	332	22	economic	economic	PROPN
ejge-4303	332	23	review	review	PROPN
ejge-4303	332	24	,	,	PUNCT
ejge-4303	332	25	january	january	PROPN
ejge-4303	332	26	-	-	PUNCT
ejge-4303	332	27	february	february	PROPN
ejge-4303	332	28	:	:	PUNCT
ejge-4303	332	29	32	32	NUM
ejge-4303	332	30	-	-	SYM
ejge-4303	332	31	44	44	NUM
ejge-4303	332	32	.	.	PUNCT
ejge-4303	333	1	ghonghadze	ghonghadze	PROPN
ejge-4303	333	2	,	,	PUNCT
ejge-4303	333	3	jaba	jaba	PROPN
ejge-4303	333	4	and	and	CCONJ
ejge-4303	333	5	thomas	thomas	PROPN
ejge-4303	333	6	lux	lux	PROPN
ejge-4303	333	7	(	(	PUNCT
ejge-4303	333	8	2012	2012	NUM
ejge-4303	333	9	)	)	PUNCT
ejge-4303	333	10	`	`	PUNCT
ejge-4303	333	11	modelling	model	VERB
ejge-4303	333	12	the	the	DET
ejge-4303	333	13	dynamics	dynamic	NOUN
ejge-4303	333	14	of	of	ADP
ejge-4303	333	15	eu	eu	PROPN
ejge-4303	333	16	economic	economic	ADJ
ejge-4303	333	17	sentiment	sentiment	NOUN
ejge-4303	333	18	indicators	indicator	NOUN
ejge-4303	333	19	:	:	PUNCT
ejge-4303	333	20	an	an	DET
ejge-4303	333	21	interaction	interaction	NOUN
ejge-4303	333	22	-	-	PUNCT
ejge-4303	333	23	based	base	VERB
ejge-4303	333	24	approach	approach	NOUN
ejge-4303	333	25	´	´	NOUN
ejge-4303	333	26	,	,	PUNCT
ejge-4303	333	27	applied	apply	VERB
ejge-4303	333	28	economics	economic	NOUN
ejge-4303	333	29	44(24	44(24	NUM
ejge-4303	333	30	):	):	PUNCT
ejge-4303	333	31	205	205	NUM
ejge-4303	333	32	-	-	SYM
ejge-4303	333	33	3088	3088	NUM
ejge-4303	333	34	.	.	PUNCT
ejge-4303	334	1	golinelli	golinelli	PROPN
ejge-4303	334	2	,	,	PUNCT
ejge-4303	334	3	roberto	roberto	PROPN
ejge-4303	334	4	and	and	CCONJ
ejge-4303	334	5	giuseppe	giuseppe	PROPN
ejge-4303	334	6	parigi	parigi	PROPN
ejge-4303	334	7	(	(	PUNCT
ejge-4303	334	8	2004	2004	NUM
ejge-4303	334	9	)	)	PUNCT
ejge-4303	334	10	`	`	PUNCT
ejge-4303	334	11	consumer	consumer	NOUN
ejge-4303	334	12	sentiment	sentiment	NOUN
ejge-4303	334	13	and	and	CCONJ
ejge-4303	334	14	economic	economic	ADJ
ejge-4303	334	15	activity	activity	NOUN
ejge-4303	334	16	.	.	PUNCT
ejge-4303	335	1	a	a	DET
ejge-4303	335	2	cross	cross	NOUN
ejge-4303	335	3	country	country	NOUN
ejge-4303	335	4	comparison	comparison	PROPN
ejge-4303	335	5	´	´	PROPN
ejge-4303	335	6	,	,	PUNCT
ejge-4303	335	7	journal	journal	NOUN
ejge-4303	335	8	of	of	ADP
ejge-4303	335	9	business	business	NOUN
ejge-4303	335	10	cycle	cycle	NOUN
ejge-4303	335	11	measurement	measurement	NOUN
ejge-4303	335	12	and	and	CCONJ
ejge-4303	335	13	analysis	analysis	NOUN
ejge-4303	335	14	10(2	10(2	NUM
ejge-4303	335	15	):	):	PUNCT
ejge-4303	335	16	147	147	NUM
ejge-4303	335	17	-	-	SYM
ejge-4303	335	18	170	170	NUM
ejge-4303	335	19	.	.	PUNCT
ejge-4303	336	1	granger	granger	NOUN
ejge-4303	336	2	,	,	PUNCT
ejge-4303	336	3	clive.w.j	clive.w.j	PROPN
ejge-4303	336	4	.	.	PUNCT
ejge-4303	337	1	(	(	PUNCT
ejge-4303	337	2	1969	1969	NUM
ejge-4303	337	3	)	)	PUNCT
ejge-4303	337	4	`	`	PUNCT
ejge-4303	337	5	investigating	investigate	VERB
ejge-4303	337	6	causal	causal	ADJ
ejge-4303	337	7	relationships	relationship	NOUN
ejge-4303	337	8	by	by	ADP
ejge-4303	337	9	econometric	econometric	ADJ
ejge-4303	337	10	models	model	NOUN
ejge-4303	337	11	and	and	CCONJ
ejge-4303	337	12	cross	cross	VERB
ejge-4303	337	13	spectral	spectral	ADJ
ejge-4303	337	14	methods	method	NOUN
ejge-4303	337	15	´	´	NOUN
ejge-4303	337	16	,	,	PUNCT
ejge-4303	337	17	econometrica	econometrica	PROPN
ejge-4303	337	18	37(3	37(3	NUM
ejge-4303	337	19	):	):	PUNCT
ejge-4303	337	20	425	425	NUM
ejge-4303	337	21	-	-	SYM
ejge-4303	337	22	435	435	NUM
ejge-4303	337	23	.	.	PUNCT
ejge-4303	338	1	hendry	hendry	PROPN
ejge-4303	338	2	david	david	PROPN
ejge-4303	338	3	f.	f.	PROPN
ejge-4303	338	4	and	and	CCONJ
ejge-4303	338	5	neil	neil	PROPN
ejge-4303	338	6	r.	r.	PROPN
ejge-4303	338	7	ericsson	ericsson	PROPN
ejge-4303	338	8	(	(	PUNCT
ejge-4303	338	9	1991	1991	NUM
ejge-4303	338	10	)	)	PUNCT
ejge-4303	338	11	`	`	PUNCT
ejge-4303	338	12	modeling	model	VERB
ejge-4303	338	13	the	the	DET
ejge-4303	338	14	demand	demand	NOUN
ejge-4303	338	15	for	for	ADP
ejge-4303	338	16	narrow	narrow	ADJ
ejge-4303	338	17	money	money	NOUN
ejge-4303	338	18	in	in	ADP
ejge-4303	338	19	the	the	DET
ejge-4303	338	20	united	united	ADJ
ejge-4303	338	21	kingdom	kingdom	PROPN
ejge-4303	338	22	and	and	CCONJ
ejge-4303	338	23	the	the	DET
ejge-4303	338	24	united	united	PROPN
ejge-4303	338	25	states	states	PROPN
ejge-4303	338	26	´	´	PROPN
ejge-4303	338	27	,	,	PUNCT
ejge-4303	338	28	european	european	ADJ
ejge-4303	338	29	economic	economic	ADJ
ejge-4303	338	30	review	review	NOUN
ejge-4303	338	31	35(4	35(4	NUM
ejge-4303	338	32	):	):	PUNCT
ejge-4303	338	33	833	833	NUM
ejge-4303	338	34	-	-	SYM
ejge-4303	338	35	866	866	NUM
ejge-4303	338	36	.	.	PUNCT
ejge-4303	339	1	jansen	jansen	PROPN
ejge-4303	339	2	,	,	PUNCT
ejge-4303	339	3	jos	jos	PROPN
ejge-4303	339	4	w.	w.	PROPN
ejge-4303	339	5	and	and	CCONJ
ejge-4303	339	6	niek	niek	PROPN
ejge-4303	339	7	j.	j.	PROPN
ejge-4303	339	8	nahuis	nahuis	PROPN
ejge-4303	339	9	.	.	PUNCT
ejge-4303	340	1	(	(	PUNCT
ejge-4303	340	2	2003	2003	NUM
ejge-4303	340	3	)	)	PUNCT
ejge-4303	340	4	`	`	PUNCT
ejge-4303	340	5	the	the	DET
ejge-4303	340	6	stock	stock	NOUN
ejge-4303	340	7	market	market	NOUN
ejge-4303	340	8	and	and	CCONJ
ejge-4303	340	9	consumer	consumer	NOUN
ejge-4303	340	10	confidence	confidence	NOUN
ejge-4303	340	11	:	:	PUNCT
ejge-4303	340	12	european	european	ADJ
ejge-4303	340	13	evidence	evidence	NOUN
ejge-4303	340	14	´	´	NOUN
ejge-4303	340	15	,	,	PUNCT
ejge-4303	340	16	economics	economics	NOUN
ejge-4303	340	17	letters	letter	NOUN
ejge-4303	340	18	79(1	79(1	NUM
ejge-4303	340	19	):	):	PUNCT
ejge-4303	340	20	89	89	NUM
ejge-4303	340	21	-	-	SYM
ejge-4303	340	22	98	98	NUM
ejge-4303	340	23	.	.	PUNCT
ejge-4303	341	1	katona	katona	PROPN
ejge-4303	341	2	,	,	PUNCT
ejge-4303	341	3	george	george	PROPN
ejge-4303	341	4	(	(	PUNCT
ejge-4303	341	5	1951	1951	NUM
ejge-4303	341	6	)	)	PUNCT
ejge-4303	341	7	psychological	psychological	ADJ
ejge-4303	341	8	analysis	analysis	NOUN
ejge-4303	341	9	of	of	ADP
ejge-4303	341	10	economic	economic	ADJ
ejge-4303	341	11	behavior	behavior	NOUN
ejge-4303	341	12	.	.	PUNCT
ejge-4303	342	1	new	new	PROPN
ejge-4303	342	2	york	york	PROPN
ejge-4303	342	3	:	:	PUNCT
ejge-4303	342	4	mcgraw	mcgraw	PROPN
ejge-4303	342	5	-	-	PUNCT
ejge-4303	342	6	hill	hill	NOUN
ejge-4303	342	7	(	(	PUNCT
ejge-4303	342	8	reprinted	reprint	VERB
ejge-4303	342	9	1977	1977	NUM
ejge-4303	342	10	)	)	PUNCT
ejge-4303	342	11	.	.	PUNCT
ejge-4303	343	1	katona	katona	PROPN
ejge-4303	343	2	,	,	PUNCT
ejge-4303	343	3	george	george	PROPN
ejge-4303	343	4	(	(	PUNCT
ejge-4303	343	5	1975	1975	NUM
ejge-4303	343	6	)	)	PUNCT
ejge-4303	343	7	psychological	psychological	ADJ
ejge-4303	343	8	economics	economic	NOUN
ejge-4303	343	9	.	.	PUNCT
ejge-4303	344	1	amsterdam	amsterdam	PROPN
ejge-4303	344	2	:	:	PUNCT
ejge-4303	344	3	elsevier	elsevier	NOUN
ejge-4303	344	4	.	.	PUNCT
ejge-4303	345	1	kurov	kurov	PROPN
ejge-4303	345	2	,	,	PUNCT
ejge-4303	345	3	alexander	alexander	PROPN
ejge-4303	345	4	(	(	PUNCT
ejge-4303	345	5	2010	2010	NUM
ejge-4303	345	6	)	)	PUNCT
ejge-4303	345	7	`	`	PUNCT
ejge-4303	345	8	investor	investor	NOUN
ejge-4303	345	9	sentiment	sentiment	NOUN
ejge-4303	345	10	and	and	CCONJ
ejge-4303	345	11	the	the	DET
ejge-4303	345	12	stock	stock	NOUN
ejge-4303	345	13	market	market	NOUN
ejge-4303	345	14	’s	’s	PART
ejge-4303	345	15	reaction	reaction	NOUN
ejge-4303	345	16	to	to	ADP
ejge-4303	345	17	monetary	monetary	ADJ
ejge-4303	345	18	policy	policy	NOUN
ejge-4303	345	19	´	´	NOUN
ejge-4303	345	20	,	,	PUNCT
ejge-4303	345	21	journal	journal	NOUN
ejge-4303	345	22	of	of	ADP
ejge-4303	345	23	banking	banking	NOUN
ejge-4303	345	24	&	&	CCONJ
ejge-4303	345	25	finance	finance	PROPN
ejge-4303	345	26	24(1	24(1	NOUN
ejge-4303	345	27	):	):	PUNCT
ejge-4303	345	28	139	139	NUM
ejge-4303	345	29	-	-	SYM
ejge-4303	345	30	149	149	NUM
ejge-4303	345	31	.	.	PUNCT
ejge-4303	346	1	lee	lee	PROPN
ejge-4303	346	2	,	,	PUNCT
ejge-4303	346	3	wayne	wayne	PROPN
ejge-4303	346	4	y.	y.	PROPN
ejge-4303	346	5	,	,	PUNCT
ejge-4303	346	6	christine	christine	PROPN
ejge-4303	346	7	x.	x.	PROPN
ejge-4303	346	8	jiang	jiang	PROPN
ejge-4303	346	9	and	and	CCONJ
ejge-4303	346	10	daniel	daniel	PROPN
ejge-4303	346	11	c.	c.	PROPN
ejge-4303	346	12	indro	indro	PROPN
ejge-4303	346	13	(	(	PUNCT
ejge-4303	346	14	2002	2002	NUM
ejge-4303	346	15	)	)	PUNCT
ejge-4303	346	16	`	`	PUNCT
ejge-4303	346	17	stock	stock	NOUN
ejge-4303	346	18	market	market	NOUN
ejge-4303	346	19	volatility	volatility	NOUN
ejge-4303	346	20	,	,	PUNCT
ejge-4303	346	21	excess	excess	ADJ
ejge-4303	346	22	returns	return	NOUN
ejge-4303	346	23	,	,	PUNCT
ejge-4303	346	24	and	and	CCONJ
ejge-4303	346	25	the	the	DET
ejge-4303	346	26	role	role	NOUN
ejge-4303	346	27	of	of	ADP
ejge-4303	346	28	investor	investor	NOUN
ejge-4303	346	29	sentiment	sentiment	NOUN
ejge-4303	346	30	´	´	NOUN
ejge-4303	346	31	,	,	PUNCT
ejge-4303	346	32	journal	journal	NOUN
ejge-4303	346	33	of	of	ADP
ejge-4303	346	34	banking	banking	NOUN
ejge-4303	346	35	&	&	CCONJ
ejge-4303	346	36	finance	finance	PROPN
ejge-4303	346	37	26(12	26(12	NUM
ejge-4303	346	38	):	):	PUNCT
ejge-4303	346	39	2277	2277	NUM
ejge-4303	346	40	-	-	SYM
ejge-4303	346	41	2299	2299	NUM
ejge-4303	346	42	.	.	PUNCT
ejge-4303	347	1	ludvigson	ludvigson	PROPN
ejge-4303	347	2	,	,	PUNCT
ejge-4303	347	3	sydney	sydney	PROPN
ejge-4303	347	4	c.	c.	PROPN
ejge-4303	347	5	(	(	PUNCT
ejge-4303	347	6	2004	2004	NUM
ejge-4303	347	7	)	)	PUNCT
ejge-4303	347	8	`	`	PUNCT
ejge-4303	347	9	consumer	consumer	NOUN
ejge-4303	347	10	confidence	confidence	NOUN
ejge-4303	347	11	and	and	CCONJ
ejge-4303	347	12	consumer	consumer	NOUN
ejge-4303	347	13	spending	spending	NOUN
ejge-4303	347	14	´	´	NOUN
ejge-4303	347	15	,	,	PUNCT
ejge-4303	347	16	the	the	DET
ejge-4303	347	17	journal	journal	NOUN
ejge-4303	347	18	of	of	ADP
ejge-4303	347	19	economic	economic	ADJ
ejge-4303	347	20	perspectives	perspective	NOUN
ejge-4303	347	21	,	,	PUNCT
ejge-4303	347	22	18(2	18(2	NUM
ejge-4303	347	23	):	):	PUNCT
ejge-4303	347	24	29	29	NUM
ejge-4303	347	25	-	-	SYM
ejge-4303	347	26	50	50	NUM
ejge-4303	347	27	.	.	PUNCT
ejge-4303	348	1	matsusaka	matsusaka	NOUN
ejge-4303	348	2	,	,	PUNCT
ejge-4303	348	3	john	john	PROPN
ejge-4303	348	4	g.	g.	PROPN
ejge-4303	348	5	and	and	CCONJ
ejge-4303	348	6	argia	argia	PROPN
ejge-4303	348	7	m.	m.	NOUN
ejge-4303	348	8	sbordone	sbordone	NOUN
ejge-4303	348	9	(	(	PUNCT
ejge-4303	348	10	1995	1995	NUM
ejge-4303	348	11	)	)	PUNCT
ejge-4303	348	12	`	`	PUNCT
ejge-4303	348	13	consumer	consumer	NOUN
ejge-4303	348	14	confidence	confidence	NOUN
ejge-4303	348	15	and	and	CCONJ
ejge-4303	348	16	economic	economic	ADJ
ejge-4303	348	17	fluctuations	fluctuation	NOUN
ejge-4303	348	18	´	´	VERB
ejge-4303	348	19	economic	economic	ADJ
ejge-4303	348	20	inquiry	inquiry	NOUN
ejge-4303	348	21	33	33	NUM
ejge-4303	348	22	(	(	PUNCT
ejge-4303	348	23	2	2	NUM
ejge-4303	348	24	):	):	PUNCT
ejge-4303	348	25	296	296	NUM
ejge-4303	348	26	-	-	SYM
ejge-4303	348	27	318	318	NUM
ejge-4303	348	28	mishkin	mishkin	NOUN
ejge-4303	348	29	,	,	PUNCT
ejge-4303	348	30	frederic	frederic	PROPN
ejge-4303	348	31	s.	s.	PROPN
ejge-4303	348	32	(	(	PUNCT
ejge-4303	348	33	1978	1978	NUM
ejge-4303	348	34	)	)	PUNCT
ejge-4303	348	35	`	`	PUNCT
ejge-4303	348	36	consumer	consumer	NOUN
ejge-4303	348	37	sentiment	sentiment	NOUN
ejge-4303	348	38	and	and	CCONJ
ejge-4303	348	39	spending	spend	VERB
ejge-4303	348	40	on	on	ADP
ejge-4303	348	41	durable	durable	ADJ
ejge-4303	348	42	goods	good	NOUN
ejge-4303	348	43	´	´	NOUN
ejge-4303	348	44	,	,	PUNCT
ejge-4303	348	45	brookings	brookings	PROPN
ejge-4303	348	46	papers	paper	NOUN
ejge-4303	348	47	on	on	ADP
ejge-4303	348	48	economic	economic	ADJ
ejge-4303	348	49	activity	activity	NOUN
ejge-4303	348	50	1	1	NUM
ejge-4303	348	51	:	:	PUNCT
ejge-4303	348	52	217	217	NUM
ejge-4303	348	53	-	-	SYM
ejge-4303	348	54	232	232	NUM
ejge-4303	348	55	.	.	PUNCT
ejge-4303	348	56	narayan	narayan	PROPN
ejge-4303	348	57	,	,	PUNCT
ejge-4303	348	58	p.k	p.k	PROPN
ejge-4303	348	59	.	.	PROPN
ejge-4303	348	60	(	(	PUNCT
ejge-4303	348	61	2005	2005	NUM
ejge-4303	348	62	)	)	PUNCT
ejge-4303	348	63	`	`	PUNCT
ejge-4303	348	64	the	the	DET
ejge-4303	348	65	saving	saving	NOUN
ejge-4303	348	66	and	and	CCONJ
ejge-4303	348	67	investment	investment	NOUN
ejge-4303	348	68	nexus	nexus	NOUN
ejge-4303	348	69	for	for	ADP
ejge-4303	348	70	china	china	PROPN
ejge-4303	348	71	:	:	PUNCT
ejge-4303	348	72	evidence	evidence	NOUN
ejge-4303	348	73	from	from	ADP
ejge-4303	348	74	cointegration	cointegration	NOUN
ejge-4303	348	75	tests	test	NOUN
ejge-4303	348	76	´	´	NOUN
ejge-4303	348	77	,	,	PUNCT
ejge-4303	348	78	applied	apply	VERB
ejge-4303	348	79	economics	economic	NOUN
ejge-4303	348	80	37(17	37(17	NUM
ejge-4303	348	81	):	):	PUNCT
ejge-4303	348	82	1979	1979	NUM
ejge-4303	348	83	-	-	SYM
ejge-4303	348	84	1990	1990	NUM
ejge-4303	348	85	.	.	PUNCT
ejge-4303	349	1	castellanos	castellanos	PROPN
ejge-4303	349	2	et	et	PROPN
ejge-4303	349	3	al	al	PROPN
ejge-4303	349	4	.	.	PUNCT
ejge-4303	350	1	●	●	PUNCT
ejge-4303	350	2	the	the	DET
ejge-4303	350	3	role	role	NOUN
ejge-4303	350	4	of	of	ADP
ejge-4303	350	5	confidence	confidence	NOUN
ejge-4303	350	6	in	in	ADP
ejge-4303	350	7	the	the	DET
ejge-4303	350	8	evolution	evolution	NOUN
ejge-4303	350	9	of	of	ADP
ejge-4303	350	10	the	the	DET
ejge-4303	350	11	spanish	spanish	ADJ
ejge-4303	350	12	economy	economy	NOUN
ejge-4303	350	13	161	161	NUM
ejge-4303	350	14	otoo	otoo	NOUN
ejge-4303	350	15	,	,	PUNCT
ejge-4303	350	16	maría	maría	PROPN
ejge-4303	350	17	(	(	PUNCT
ejge-4303	350	18	1999	1999	NUM
ejge-4303	350	19	)	)	PUNCT
ejge-4303	350	20	`	`	PUNCT
ejge-4303	350	21	consumer	consumer	NOUN
ejge-4303	350	22	sentiment	sentiment	NOUN
ejge-4303	350	23	and	and	CCONJ
ejge-4303	350	24	the	the	DET
ejge-4303	350	25	stock	stock	NOUN
ejge-4303	350	26	market	market	NOUN
ejge-4303	350	27	´	´	NOUN
ejge-4303	350	28	,	,	PUNCT
ejge-4303	350	29	board	board	NOUN
ejge-4303	350	30	of	of	ADP
ejge-4303	350	31	governors	governor	NOUN
ejge-4303	350	32	of	of	ADP
ejge-4303	350	33	the	the	DET
ejge-4303	350	34	federal	federal	PROPN
ejge-4303	350	35	reserve	reserve	PROPN
ejge-4303	350	36	system	system	NOUN
ejge-4303	350	37	,	,	PUNCT
ejge-4303	350	38	finance	finance	NOUN
ejge-4303	350	39	and	and	CCONJ
ejge-4303	350	40	economics	economic	NOUN
ejge-4303	350	41	discussion	discussion	NOUN
ejge-4303	350	42	series	series	PROPN
ejge-4303	350	43	60	60	NUM
ejge-4303	350	44	.	.	PUNCT
ejge-4303	351	1	perez	perez	PROPN
ejge-4303	351	2	,	,	PUNCT
ejge-4303	351	3	indalecio	indalecio	PROPN
ejge-4303	351	4	,	,	PUNCT
ejge-4303	351	5	pablo	pablo	PROPN
ejge-4303	351	6	castellanos	castellanos	PROPN
ejge-4303	351	7	and	and	CCONJ
ejge-4303	351	8	josé	josé	PROPN
ejge-4303	351	9	m.	m.	PROPN
ejge-4303	351	10	sanchez	sanchez	PROPN
ejge-4303	351	11	-	-	PUNCT
ejge-4303	351	12	santos	santos	PROPN
ejge-4303	351	13	(	(	PUNCT
ejge-4303	351	14	2013	2013	NUM
ejge-4303	351	15	)	)	PUNCT
ejge-4303	351	16	`	`	PUNCT
ejge-4303	351	17	risk	risk	NOUN
ejge-4303	351	18	premium	premium	NOUN
ejge-4303	351	19	as	as	ADP
ejge-4303	351	20	an	an	DET
ejge-4303	351	21	economic	economic	ADJ
ejge-4303	351	22	policy	policy	NOUN
ejge-4303	351	23	objective	objective	NOUN
ejge-4303	351	24	:	:	PUNCT
ejge-4303	351	25	the	the	DET
ejge-4303	351	26	spanish	spanish	ADJ
ejge-4303	351	27	case	case	NOUN
ejge-4303	351	28	´	´	NOUN
ejge-4303	351	29	,	,	PUNCT
ejge-4303	351	30	economics	economic	NOUN
ejge-4303	351	31	and	and	CCONJ
ejge-4303	351	32	business	business	NOUN
ejge-4303	351	33	letters	letter	NOUN
ejge-4303	351	34	,	,	PUNCT
ejge-4303	351	35	2(3	2(3	NUM
ejge-4303	351	36	):	):	PUNCT
ejge-4303	351	37	94	94	NUM
ejge-4303	351	38	-	-	SYM
ejge-4303	351	39	104	104	NUM
ejge-4303	351	40	.	.	PUNCT
ejge-4303	352	1	pesaran	pesaran	VERB
ejge-4303	352	2	,	,	PUNCT
ejge-4303	352	3	m.	m.	NOUN
ejge-4303	352	4	hashem	hashem	PROPN
ejge-4303	352	5	and	and	CCONJ
ejge-4303	352	6	bijan	bijan	PROPN
ejge-4303	352	7	pesaran	pesaran	PROPN
ejge-4303	352	8	(	(	PUNCT
ejge-4303	352	9	1997	1997	NUM
ejge-4303	352	10	)	)	PUNCT
ejge-4303	352	11	working	work	VERB
ejge-4303	352	12	with	with	ADP
ejge-4303	352	13	microfit	microfit	NOUN
ejge-4303	352	14	4.0	4.0	NUM
ejge-4303	352	15	:	:	PUNCT
ejge-4303	352	16	interactive	interactive	ADJ
ejge-4303	352	17	econometric	econometric	ADJ
ejge-4303	352	18	analysis	analysis	NOUN
ejge-4303	352	19	.	.	PUNCT
ejge-4303	353	1	oxford	oxford	PROPN
ejge-4303	353	2	university	university	PROPN
ejge-4303	353	3	press	press	NOUN
ejge-4303	353	4	.	.	PUNCT
ejge-4303	354	1	pesaran	pesaran	PROPN
ejge-4303	354	2	,	,	PUNCT
ejge-4303	354	3	m.	m.	NOUN
ejge-4303	354	4	hashem	hashem	PROPN
ejge-4303	354	5	,	,	PUNCT
ejge-4303	354	6	yongcheol	yongcheol	NOUN
ejge-4303	354	7	shin	shin	NOUN
ejge-4303	354	8	and	and	CCONJ
ejge-4303	354	9	richard.j	richard.j	PROPN
ejge-4303	354	10	.	.	PUNCT
ejge-4303	355	1	smith	smith	PROPN
ejge-4303	355	2	(	(	PUNCT
ejge-4303	355	3	2001	2001	NUM
ejge-4303	355	4	)	)	PUNCT
ejge-4303	355	5	`	`	PUNCT
ejge-4303	355	6	bounds	bound	VERB
ejge-4303	355	7	testing	test	VERB
ejge-4303	355	8	approaches	approach	NOUN
ejge-4303	355	9	to	to	ADP
ejge-4303	355	10	the	the	DET
ejge-4303	355	11	analysis	analysis	NOUN
ejge-4303	355	12	of	of	ADP
ejge-4303	355	13	level	level	NOUN
ejge-4303	355	14	relationships	relationship	NOUN
ejge-4303	355	15	´	´	NOUN
ejge-4303	355	16	,	,	PUNCT
ejge-4303	355	17	journal	journal	NOUN
ejge-4303	355	18	of	of	ADP
ejge-4303	355	19	applied	apply	VERB
ejge-4303	355	20	economics	economic	NOUN
ejge-4303	355	21	16(3	16(3	NOUN
ejge-4303	355	22	):	):	PUNCT
ejge-4303	355	23	289	289	NUM
ejge-4303	355	24	-	-	SYM
ejge-4303	355	25	326	326	NUM
ejge-4303	355	26	.	.	PUNCT
ejge-4303	356	1	sultan	sultan	PROPN
ejge-4303	356	2	,	,	PUNCT
ejge-4303	356	3	riad	riad	PROPN
ejge-4303	356	4	(	(	PUNCT
ejge-4303	356	5	2010	2010	NUM
ejge-4303	356	6	)	)	PUNCT
ejge-4303	356	7	`	`	PUNCT
ejge-4303	356	8	short	short	ADJ
ejge-4303	356	9	-	-	PUNCT
ejge-4303	356	10	run	run	NOUN
ejge-4303	356	11	and	and	CCONJ
ejge-4303	356	12	long	long	ADV
ejge-4303	356	13	-	-	PUNCT
ejge-4303	356	14	run	run	NOUN
ejge-4303	356	15	elasticities	elasticity	NOUN
ejge-4303	356	16	of	of	ADP
ejge-4303	356	17	gasoline	gasoline	NOUN
ejge-4303	356	18	demand	demand	NOUN
ejge-4303	356	19	in	in	ADP
ejge-4303	356	20	mauritius	mauritius	NOUN
ejge-4303	356	21	:	:	PUNCT
ejge-4303	356	22	an	an	DET
ejge-4303	356	23	ardl	ardl	NOUN
ejge-4303	356	24	bounds	bound	VERB
ejge-4303	356	25	test	test	NOUN
ejge-4303	356	26	approach	approach	PROPN
ejge-4303	356	27	´	´	PROPN
ejge-4303	356	28	,	,	PUNCT
ejge-4303	356	29	journal	journal	NOUN
ejge-4303	356	30	of	of	ADP
ejge-4303	356	31	emerging	emerge	VERB
ejge-4303	356	32	trends	trend	NOUN
ejge-4303	356	33	in	in	ADP
ejge-4303	356	34	economics	economic	NOUN
ejge-4303	356	35	and	and	CCONJ
ejge-4303	356	36	managements	management	NOUN
ejge-4303	356	37	sciences	science	NOUN
ejge-4303	356	38	2(1	2(1	NUM
ejge-4303	356	39	):	):	PUNCT
ejge-4303	356	40	90	90	NUM
ejge-4303	356	41	-	-	SYM
ejge-4303	356	42	95	95	NUM
ejge-4303	356	43	.	.	PUNCT
ejge-4303	357	1	taylor	taylor	PROPN
ejge-4303	357	2	,	,	PUNCT
ejge-4303	357	3	karl	karl	PROPN
ejge-4303	357	4	and	and	CCONJ
ejge-4303	357	5	robert	robert	PROPN
ejge-4303	357	6	mcnabb	mcnabb	PROPN
ejge-4303	357	7	(	(	PUNCT
ejge-4303	357	8	2007	2007	NUM
ejge-4303	357	9	)	)	PUNCT
ejge-4303	357	10	`	`	PUNCT
ejge-4303	357	11	business	business	NOUN
ejge-4303	357	12	cycles	cycle	NOUN
ejge-4303	357	13	and	and	CCONJ
ejge-4303	357	14	the	the	DET
ejge-4303	357	15	role	role	NOUN
ejge-4303	357	16	of	of	ADP
ejge-4303	357	17	confidence	confidence	NOUN
ejge-4303	357	18	:	:	PUNCT
ejge-4303	357	19	evidence	evidence	NOUN
ejge-4303	357	20	for	for	ADP
ejge-4303	357	21	europe	europe	PROPN
ejge-4303	357	22	´	´	NOUN
ejge-4303	357	23	,	,	PUNCT
ejge-4303	357	24	oxford	oxford	ADJ
ejge-4303	357	25	bulletin	bulletin	NOUN
ejge-4303	357	26	of	of	ADP
ejge-4303	357	27	economics	economic	NOUN
ejge-4303	357	28	and	and	CCONJ
ejge-4303	357	29	statistics	statistic	NOUN
ejge-4303	357	30	69(2	69(2	PROPN
ejge-4303	357	31	):	):	PUNCT
ejge-4303	357	32	185–208	185–208	NUM
ejge-4303	357	33	.	.	PUNCT
ejge-4303	358	1	toda	toda	PROPN
ejge-4303	358	2	,	,	PUNCT
ejge-4303	358	3	hiro	hiro	PROPN
ejge-4303	358	4	y.	y.	PROPN
ejge-4303	358	5	and	and	CCONJ
ejge-4303	358	6	taku	taku	PROPN
ejge-4303	358	7	yamamoto	yamamoto	PROPN
ejge-4303	358	8	(	(	PUNCT
ejge-4303	358	9	1995	1995	NUM
ejge-4303	358	10	)	)	PUNCT
ejge-4303	358	11	‘	'	PUNCT
ejge-4303	358	12	statistical	statistical	ADJ
ejge-4303	358	13	inference	inference	NOUN
ejge-4303	358	14	in	in	ADP
ejge-4303	358	15	vector	vector	NOUN
ejge-4303	358	16	autoregressions	autoregression	NOUN
ejge-4303	358	17	with	with	ADP
ejge-4303	358	18	possibly	possibly	ADV
ejge-4303	358	19	integrated	integrate	VERB
ejge-4303	358	20	processes	process	NOUN
ejge-4303	358	21	’	'	PUNCT
ejge-4303	358	22	,	,	PUNCT
ejge-4303	358	23	journal	journal	NOUN
ejge-4303	358	24	of	of	ADP
ejge-4303	358	25	econometrics	econometrics	NOUN
ejge-4303	358	26	66(12	66(12	ADV
ejge-4303	358	27	):	):	PUNCT
ejge-4303	358	28	225	225	NUM
ejge-4303	358	29	-	-	SYM
ejge-4303	358	30	250	250	NUM
ejge-4303	358	31	.	.	PUNCT
ejge-4303	359	1	verma	verma	PROPN
ejge-4303	359	2	,	,	PUNCT
ejge-4303	359	3	rahul	rahul	PROPN
ejge-4303	359	4	and	and	CCONJ
ejge-4303	359	5	gökçe	gökçe	PROPN
ejge-4303	359	6	soydemir	soydemir	NOUN
ejge-4303	359	7	(	(	PUNCT
ejge-4303	359	8	2009	2009	NUM
ejge-4303	359	9	)	)	PUNCT
ejge-4303	359	10	`	`	PUNCT
ejge-4303	359	11	the	the	DET
ejge-4303	359	12	impact	impact	NOUN
ejge-4303	359	13	of	of	ADP
ejge-4303	359	14	individual	individual	ADJ
ejge-4303	359	15	and	and	CCONJ
ejge-4303	359	16	institutional	institutional	ADJ
ejge-4303	359	17	investor	investor	NOUN
ejge-4303	359	18	sentiment	sentiment	NOUN
ejge-4303	359	19	on	on	ADP
ejge-4303	359	20	the	the	DET
ejge-4303	359	21	market	market	NOUN
ejge-4303	359	22	price	price	NOUN
ejge-4303	359	23	of	of	ADP
ejge-4303	359	24	risk	risk	NOUN
ejge-4303	359	25	´	´	NOUN
ejge-4303	359	26	,	,	PUNCT
ejge-4303	359	27	the	the	DET
ejge-4303	359	28	quarterly	quarterly	ADJ
ejge-4303	359	29	review	review	NOUN
ejge-4303	359	30	of	of	ADP
ejge-4303	359	31	economics	economic	NOUN
ejge-4303	359	32	and	and	CCONJ
ejge-4303	359	33	finance	finance	NOUN
ejge-4303	359	34	49(3	49(3	PROPN
ejge-4303	359	35	):	):	PUNCT
ejge-4303	359	36	1129	1129	NUM
ejge-4303	359	37	-	-	SYM
ejge-4303	359	38	1145	1145	NUM
ejge-4303	359	39	.	.	PUNCT
ejge-4303	360	1	vuchelen	vuchelen	PROPN
ejge-4303	360	2	,	,	PUNCT
ejge-4303	360	3	jef	jef	PROPN
ejge-4303	360	4	(	(	PUNCT
ejge-4303	360	5	1995	1995	NUM
ejge-4303	360	6	)	)	PUNCT
ejge-4303	360	7	`	`	PUNCT
ejge-4303	360	8	political	political	ADJ
ejge-4303	360	9	events	event	NOUN
ejge-4303	360	10	and	and	CCONJ
ejge-4303	360	11	consumer	consumer	NOUN
ejge-4303	360	12	confidence	confidence	NOUN
ejge-4303	360	13	in	in	ADP
ejge-4303	360	14	belgium	belgium	NOUN
ejge-4303	360	15	´	´	NOUN
ejge-4303	360	16	,	,	PUNCT
ejge-4303	360	17	journal	journal	NOUN
ejge-4303	360	18	of	of	ADP
ejge-4303	360	19	economic	economic	ADJ
ejge-4303	360	20	psychology	psychology	NOUN
ejge-4303	360	21	16(4	16(4	NUM
ejge-4303	360	22	):	):	PUNCT
ejge-4303	360	23	563	563	NUM
ejge-4303	360	24	-	-	SYM
ejge-4303	360	25	579	579	NUM
ejge-4303	360	26	.	.	PUNCT