9

0.458155

10.39570

61.15136

2.560758

7.291468

18.60071

10

0.485851

10.20913

61.14651

2.578828

7.603995

18.46154

Variance Decomposition of INT:

Period

S.E.

PPP

EX

INT

CPI

MONEY SUPPLY

1

0.099205

7.282522

1.606786

91.11069

0.000000

0.000000

2

0.134334

10.02659

3.236699

86.66533

0.024844

0.046529

3

0.149220

8.359334

3.847223

83.98558

3.490909

0.316950

4

0.166689

6.758303

5.896661

82.59224

4.430053

0.322745

5

0.185762

5.521387

5.253826

84.90322

3.590384

0.731179

6

0.200034

4.765403

4.875212

86.47113

3.157718

0.730534

7

0.212726

4.275537

5.532287

86.27379

3.235148

0.683238

8

0.226650

3.864859

6.145412

86.05677

3.117924

0.815036

9

0.240321

3.524975

6.213071

86.41345

2.859551

0.988953

10

0.252425

3.316942

6.353562

86.58866

2.713528

1.027306

Variance Decomposition of CPI:

Period

S.E.

PPP

EX

INT

CPI

MONEY SUPPLY

1

0.052210

3.553367

15.94145

10.08193

70.42325

0.000000

2

0.083371

15.00432

20.34301

7.634971

38.56772

18.44998

3

0.111676

14.91196

25.15893

4.271268

21.49544

34.16241

4

0.131941

12.11698

29.55239

3.109580

16.64921

38.57185

5

0.146260

10.08266

33.45899

2.537674

15.41620

38.50448

6

0.157221

8.740263

35.69308

2.238417

14.88054

38.44770

7

0.165789

7.875605

36.35811

2.037680

14.60518

39.12343

8

0.172966

7.335294

36.39538

1.910584

14.71792

39.64082

9

0.179562

7.010586

36.29397

1.846474

15.13308

39.71590

10

0.185695

6.869087

36.06086

1.803560

15.56706

39.69943

Variance Decomposition of MONEY SUPPLY:

Period

S.E.

PPP

EX

INT

CPI

MONEY SUPPLY

1

0.037786

8.060626

0.039572

0.029771

13.71085

78.15918

2

0.055907

5.008217

0.090398

1.817608

20.99330

72.09048

3

0.063163

4.045772

0.073563

2.098877

25.80237

67.97942

4

0.067623

3.721045

0.074397

1.864183

28.43005

65.91033

5

0.072265

3.349404

0.070980

1.694626

28.69511

66.18988

6

0.077216

3.052993

0.136782

1.672915

28.26823

66.86908

7

0.081817

2.903230

0.154945

1.603730

28.55931

66.77879

8

0.086166

2.830630

0.139829

1.508697

29.13382

66.38702

9

0.090383

2.817575

0.127222

1.457242

29.31208

66.28589

10

0.094424

2.852806

0.121398

1.431241

29.28916

66.30539

Cholesky Ordering: PPP EX INT CPI MONEY SUPPLY