Independent Variables | Coefficient | Std. Error | t-Statistics | Probability |
Cointegrating Form | ||||
D(VDLIPI) | 16.1356 | 14.1312 | 1.1418 | 0.2545 |
D(VDLINT) | −2.4846 | 24.0569 | −0.1033 | 0.9178 |
D(VDLCPI) | −15.0721 | 54.0001 | −0.2791 | 0.7804 |
D(VDLEXR) | −0.5323 | 5.3113 | −0.1002 | 0.9202 |
D(VDLM2) | −21.8343 | 52.8713 | −0.4130 | 0.6799 |
D(VDLGDPRICE) | 0.0930 | 0.3072 | 0.3029 | 0.7622 |
C | −0.0033 | 0.0006 | −5.1986 | 0.0000 |
CointEq(−1) | −0.2911 | 0.0409 | −7.1139 | 0.0000 |
Cointeq = VDLDSEGEN − (3.2256 * VDLIPI − 27.2636 * VDLINT + 55.4220 * VDLCPI + 4.8936 * VDLEXR − 4.0855 * VDLM2 − 0.0856 * VDLGDPRICE − 0.0114) | ||||
Long Run Coefficients | ||||
LIPI | 3.225608 | 18.540106 | 0.173980 | 0.8620 |
LINT | −27.263562 | 55.472937 | −0.491475 | 0.6235 |
LCPI | 55.421955 | 43.320414 | 1.279350 | 0.2018 |
LEXR | 4.893638 | 14.317226 | 0.341801 | 0.7327 |
LM2 | −4.085459 | 27.190930 | −0.150251 | 0.8807 |
LGDPRICE | −0.085621 | 1.666623 | −0.051374 | 0.9591 |