Error Correction

D(CRUDE_SPOT)

D(CRUDE_FUTURE)

CointEq1

−0.736710

−0.670553

(0.30153)

(0.33631)

[−2.44321]

[−1.99385]

D(CRUDE_SPOT (−1))

0.341176

0.271840

(0.52064)

(0.58068)

[0.65531]

[0.46814]

D(CRUDE_SPOT (−2))

0.825303

1.134791

(0.51736)

(0.57703)

[1.59522]

[1.96661]

D(CRUDE_FUTURE (−1))

−0.138169

−0.115614

(0.46906)

(0.52316)

[−0.29457]

[−0.22099]

D(CRUDE_FUTURE (−2))

−0.804160

−1.113752

(0.46236)

(0.51569)

[−1.73924]

[−2.15973]