Are these arguments right?
-first is about simple model and later is about more then 2 variables or using matrix form
-An error correction model is a single equation. A VECM is a multiple equation model based on a restricted VAR.
Attached are the sources!
Thanks in advance for your replies!
Regards,
Joel
https://www.quora.com/What-is-difference-between-error-correction-model-and-vector-error-correction-model-in-time-series-analysis
http://forums.eviews.com/viewtopic.php?t=8022