I am teaching myself econometrics and I am having trouble understanding how the cointegrating equation in VECM is derived.
Lets say we have two variables, Consumption and Income. As I understand it, to derive the long run equation I would run OLS on the equation: log(Consumption) = log(Income). However, when I run the two variable VECM in Eviews, I get different coefficients than when I estimate the aforementioned equation by itself, using the same data. I understand that the signs need to be reversed but the values are also different. Can someone please what I am doing wrong?