Non-pollution

TR

n

ρ

WR

Exch

AR(1)

ELGEE

RELGEE

ELGEE

RELGEE

0.3

Exch

0.57386

0.58100

0.57386

0.58100

AR(1)

0.58885

0.60091

0.54477

0.56010

50

Ind

0.72633

0.73693

0.72633

0.73693

0.7

Exch

0.28785

0.29751

0.36407

0.37805

AR(1)

0.36407

0.37805

0.28785

0.29751

Ind

0.66757

0.67960

0.66757

0.67960

0.3

Exch

0.27770

0.27829

0.39119

0.41201

AR(1)

0.34903

0.35454

0.29119

0.29492

100

Ind

0.44306

0.43724

0.40696

0.41015

0.7

Exch

0.17467

0.17678

0.16708

0.16904

AR(1)

0.19500

0.19504

0.14110

0.14566

Ind

0.42543

0.42879

0.40011

0.42267