Dear All, I am learning R and Time Series Econometrics for the first time. I have doubt regarding cointegration specification criteria. The problem follows: test1 <- ca.jo(data1,ecdet="const",type="trace",K=2,spec="transitory")---When to specify transitory test1 <- ca.jo(data1,ecdet="const",type="trace",K=2,spec="longrun")..when to specify long-run With regards, Upananda [[alternative HTML version deleted]]