Equation: ARDL_WITH_NDI

Specification: D(LPRICONS) D(LPRICONS(−1)) D(LNDI) D(LGOVEXP)

INFL D(DR) D(DR(−1))

Omitted Variables: Squares of fitted values

Value

df

Probability

t-statistic

0.223223

25

0.8252

F-statistic

0.049829

(1, 25)

0.8252

F-test summary:

Sum of Sq.

df

Mean Squares

Test SSR

4.10E−05

1

4.10E-05

Restricted SSR

0.020625

26

0.000793

Unrestricted SSR

0.020584

25

0.000823

Unrestricted Test Equation:

Dependent Variable: D(LPRICONS)

Method: ARDL

Sample: 1984 2015

Included observations: 32

Maximum dependent lags: 2 (Automatic selection)

Model selection method: Akaike info criterion (AIC)

Dynamic regressors (1 lag, automatic):

Fixed regressors:

No d.f. adjustment for standard errors & covariance

Variable

Coefficient

Std. Error

t-Statistic

Prob.*

D(LPRICONS(−1))

0.403590

0.154303

2.615561

0.0149

D(LNDI)

0.637049

0.191402

3.328335

0.0027

D(LGOVEXP)

−0.274896

0.096931

−2.836001

0.0089

INFL

−0.005410

0.003074

−1.759957

0.0906

D(DR)

0.007485

0.003180

2.353521

0.0268

D(DR(−1))

−0.005339

0.003227

−1.654564

0.1105

FITTED^2

−1.654243

6.550199

−0.252549

0.8027

R-squared

0.498207

Mean dependent var

0.014930

Adjusted R-squared

0.377776

S. D. dependent var

0.036376

S.E. of regression

0.028694

Akaike info criterion

−4.073608

Sum squared resid

0.020584

Schwarz criterion

−3.752979

Log likelihood

72.17773

Hannan-Quinn criter.

−3.967329

Durbin-Watson stat

1.874235

*Note: p-values and any subsequent tests do not account for model selection