The Lending-Deposit Rate Relationship in Eastern European Countries: Evidence from the Rank Test for Non-linear Cointegration

This study carries out an examination of the potential non-linear cointegration between the lending and deposit rates of eight Eastern European countries using the non-parametric rank tests proposed by Breitung (2001). Based upon our adoption in this study of the threshold error-correction model (TECM), we find solid evidence of an asymmetric price transmission effect, in both the short term and the long term, between lending and deposit rates. Thus, our results reveal that there are indeed such long-run non-linear cointegration relationships between the lending and deposit rates in these Eastern European countries. Furthermore, we go on to successfully capture the dynamic adjustment of the spread.lending-deposit rates, rank test, non-linearity

Responses of microbial abundance and enzyme activity in integrated vertical-flow constructed wetlands for domestic and secondary wastewater

Although micro-organisms play a significant role in pollutant removal in constructed wetlands, little is known on the effect of wastewater-quality properties on microbial characteristics. In this study, two groups of integrated vertical-flow constructed wetland microcosms were applied to treat synthetic domestic wastewater and synthetic secondary effluent. The effects of wastewater-quality properties on microbial features were assessed. Results showed that higher values of microbial indicators were observed in the systems with domestic wastewater and in down-flow cells. Redundancy analysis revealed that organic matter concentration and temperature were two critical determinants influencing the microbial features