1. Identification when data are nonstationary p(p-1) just identifying restrictions on the short-run parameters (equations) r(r-1) just identifying restrictions on the long-run parameters (relations)

2. Three different aspects

3. Identifying restrictions Generic identification: 1. 2.

4. Just-, over-, and under-identification Correct: Incorrect:

5. Imposing restrictions on all cointegrating relations

6. The switching algorithm

9. Normalization:

15. Interpretation as the long-run reduced form Exogeneity assumptions and the Phillips triangular form model Example:

16. Just identitified cointegration relations