Dependent variable

Lagged dependent variable

Lags

k = 1

k = 2

k = 3

k = 4

Not included

0.4465^*

(3.0809)

0.3913^*

(2.6753)

0.3293^*

(2.2943)

0.2518

(1.8235)

Included

0.1674

(1.5782)

0.0855

(1.0667)

0.0589

(0.8401)

0.0138

(0.2131)

Not included

0.3424

(1.5895)

0.2070

(0.9788)

0.1006

(0.4934)

0.0208

(0.1083)

Included

0.0023

(0.1095)

−0.0423

(−0.4745)

−0.0457

(−0.5255)

−0.0521

(−0.6503)