Before revision:  We show that SPECS is able to consistently estimate an appropriate linear combination of the cointegrating vectors that may occur in the underlying DGP , while simultaneously enabling the correct recovery of sparsity patterns in the corresponding parameter space .
After revision:  We show that SPECS is able to consistently estimate an appropriate linear combination of the cointegrating vectors that may occur in the underlying DGP . In addition, SPECS is shown to enable the correct recovery of sparsity patterns in the corresponding parameter space .