How can I interpret the result of the ARDL model in the short-run if the error correction term estimated (ECT) is more than a unit?

04 September 2023 0 794 Report

How can I interpret the result of the ARDL model in the short run if the error correction term estimated (ECT) is more than a unit in the absolute value?

If the absolute value of the ECT is more than unit (one) how can I interpret the estimated model?

Is there any research found that the value of ECT is greater than the unit?

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