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 | 276.3 | 0.0000 | 187.1 | 0.0000 |
At most 1 | 150.6 | 0.0000 | 104.0 | 0.0000 |
At most 2 | 80.9 | 0.0000 | 61.1 | 0.0000 |
At most 3 | 62.9 | 0.0000 | 46.3 | 0.0000 |
At most 4 | 51.2 | 0.0000 | 51.2 | 0.0000 |