(a) the plots in Figure 1 have been rescaled and now there are cross-overs in the plot for Japan, (b) years have been shown on the horizontal axis in Figure 1, (c) a sizable addition has been made toward the end of Section 3 to address the reviewer’s observations about possible reasons for lack of cointegration in most countries, and (d) a few minor editorial alterations have been made.
Round 2: Author Response to Reviewer 2 Thank you.