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Vector Error Correction Model.
They employ a Bayesian multiple-regime vector error correction model.
Each equation in Eq. (8) is an error correction model.
Subsequently, a new NMR porosity correction model is proposed.
Moreover, in an error correction model, the error correction term is significant.
Moreover, only one parameter is introduced into the correction model, which makes it easily applicable.
In this table we have implemented the correction model only to the active light spots.
This approach is based on an error correction model where the adjustment coefficients switch between regimes.
Thus, we will evaluate how robust or sensitive the correction model is against misspecifications.
Furthermore, we have shown that the correction model is rather robust against certain misspecifications.
He employs an error correction model (ECM) to estimate a specification that includes several explanatory variables.
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