| Dependent Variables | Variables on R.H.S |
|
| Lag p | SIC |
| HORIZON ONE | (h = 1) |
|
|
|
|
| GDP | RPCE | M2 |
| 1 | 198 |
| RPCE | FEDFUNDS |
|
| 2 | 105 |
| GDPDEF | GDP | INVEST | WAGE | 12 | 80 |
| INVEST | RPCE | FEDFUNDS | PROFIT | 12 | 284 |
| WAGE | GDP | INVEST | PROFIT | 12 | 68 |
| PROD | GDP | FEDFUNDS | FEDFUNDS | 1 | 170 |
| FEDFUNDS | INVEST | PROD | M2 | 12 | 224 |
| PROFIT | INVEST | WAGE | FEDFUNDS | 12 | 415 |
| M2 | PROD | FEDFUNDS | PROFIT | 12 | 119 |
| HORIZON TWO | (h = 2) |
|
|
|
|
| GDP | GDPDEF | FEDFUNDS | PROFIT | 12 | 170 |
| RPCE | GDP | FEDFUNDS | M2 | 12 | 90 |
| GDPDEF | GDP | INVEST | WAGE | 12 | 107 |
| INVEST | GDP | FEDFUNDS | M2 | 12 | 286 |
| WAGE | GDP | INVEST | FEDFUNDS | 12 | 81 |
| PROD | GDPDEF | FEDFUNDS | PROFIT | 12 | 163 |
| FEDFUNDS | RPCE | INVEST | PROFIT | 12 | 212 |
| PROFIT | GDPDEF | INVEST | FEDFUNDS | 12 | 398 |
| M2 | RPCE | GDPDEF | FEDFUNDS | 12 | 148 |