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 , while simultaneously enabling the correct recovery of sparsity patterns in the parameter space and to posses the same limiting distribution as the OLS oracle procedure .