D(LPCHE)

D(LPGDP)

D(LPCHE(−1))

−0.468229

−0.401132

(0.24060)

(0.17984)

[−1.94610]

[−2.23047]

D(LPCHE(−2))

−0.368935

−0.492583

(0.21950)

(0.16407)

[−1.68080]

[−3.00225]

D(LPGDP(−1))

0.552936

0.212471

(0.23871)

(0.17843)

[2.31635]

[1.19078]

D(LPGDP(−2))

0.607314

0.606401

(0.26049)

(0.19471)

[2.33139]

[3.11432]

C

0.087362

0.160878

(0.04855)

(0.03629)

[1.79948]

[4.43328]