In this case the most rational model implies a direction of causality opposite to that suggested: younger people are more likely to rent, but only if they can afford to do so (for example, when employed).Without proposing a reason to explain why youth unemployment should depend on the nature of the housing market Mr Oswald has done nothing more than point out a mathematical quirk.
Such an interpretation points towards the opposite direction of causality, i.e. that thoughts about change precede the stressing of any particular arguments.
According to him in long run there is unidirectional causal relationship running from domestic credit provided by the bank sector to GDP growth while in short run direction of causality is opposite.
Evidence is provided that over the sub-prime crisis period pessimistic coverage Granger-caused the returns on banking indices, while causality in the opposite direction proved weaker.
Another possibility sees the causality running in the opposite direction: the states that are in reasonably good financial shape as reflected by their credit rating, but also enabled by their credit rating are more sanguine about things in general, and so the voters are more willing to entertain political alternatives.
This makes it impossible to explore the possibility that causality may run in the opposite direction, feeding back from a worsening environment to economic growth.
Obviously, causality could run in the opposite direction: from failure to integrate in the host country to participation in church activities, rather than the proposed causality that goes from church attendance to lower integration.
If this were the case the causality would run in the opposite direction as that which is proposed in the present work.
The de novo evolution of active homo-oligomers is likely to be rare, making causality more plausible in the opposite direction, at least under the cooperativity rather than the sequestration explanation of our results.
20 Note that causality could, in principle, run in the opposite direction: localities with lower share of non-citizen (in 2007) may be that way because non-citizen naturalised early on – thereby reducing the incidence of non-citizenship thereafter.
