text: Before I comment on Bger and Cubasch, Im going to quote from Eduardo Zoritas posted review in which he cites discussions of "spurious regression" from Phillips 1998 and Granger and Newbold 1974 (previously discussed on this blog). "Spurious" in this context is not merely a term of disapproval e.g. Manns generic use of the term "spurious criticism", but a technical term to refer to high statistical values for unrelated series. Zorita provides a length quote from Phillips as follows: