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Is the Spurious Regression Problem Spurious?

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Figure

Table 1: Simulation Results Regarding Spurious Regressions: Random-Walk Series  T = 50   T = 100   T = 250   T = 500   T = 1000  D&M, Table  19.1, col.1  0.662 0.760 0.847 0.890 0.928  BTM, repl

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