Unrestricted Cointegration Rank Test (Trace and Maximum Eigenvalue) | ||||
Hypothesized | Fisher Stat.* |
| Fisher Stat.* |
|
No. of CE(s) | (from trace test) | Prob. | (from max-eigen test) | Prob. |
None | 387.0 | 0.0000 | 184.0 | 0.0000 |
At most 1 | 219.8 | 0.0000 | 146.4 | 0.0000 |
At most 2 | 163.5 | 0.0000 | 97.7 | 0.0000 |
At most 3 | 92.0 | 0.0000 | 52.3 | 0.0000 |
At most 4 | 58.8 | 0.0000 | 48.3 | 0.0000 |
At most 5 | 43.8 | 0.0000 | 43.8 | 0.0000 |