Variance Decomposition of LMARKET

Period

S.E

LMARKET

LNPRICE

LNVENUES

1

0.636712

100.000

(0.000)

0.000

(0.000)

0.000

(0.000)

2

0.950968

99.542

(0.601)

0.069

(0.291)

0.387

(0.464)

3

1.175901

99.226

(0.974)

0.054

(0.345)

0.718

(0.867)

4

1.352321

98.892

(1.226)

0.050

(0.340)

1.057

(1.185)

5

1.498528

98.452

(1.457)

0.097

(0.394)

1.450

(1.462)

6

1.624017

97.890

(1.733)

0.204

(0.549)

1.904

(1.731)

7

1.734433

97.208

(2.086)

0.374

(0.786)

2.417

(2.010)

8

1.833470

96.409

(2.529)

0.606

(1.080)

2.983

(2.307)

9

1.923699

95.500

(3.056)

0.899

(1.416)

3.599

(2.623)

10

2.006996

94.488

(3.656)

1.250

(1.784)

4.261

(2.959)