Fourth model (AER, COP, TOT, M2/GDP, DINF/FINF, DUMMY)ARDL (3, 0, 2, 0, 3, 2) | |
Long-run coefficients | |
Coefficient | Variables |
0.090 | c |
−0.587*** | AREt−1 |
0.386*** | COPt−1 |
−0.233*** | TOTt−1 |
0.186*** | M2/GDPt−1 |
0.144 | DINF/FINFt−1 |
0.114*** | DUMMYt−1 |
Short−run Coefficients | |
0.465*** | AREt−1 |
0.369*** | AREt−2 |
−0.098* | D(TOT) |
−0.180*** | D(TOTt−1) |
0.046* | D(DINF/FINF) |
0.110 | D(DINF/FINFt−1) |
0.087 | D(DINF/FINFt−2) |
0.311 | D(DUMMY) |
0.244** | D(DUMMYt−1) |
−0.587*** | ECMt−1 |
2.188 | Durbin-Watson |
−2.490 | Akaike Information Criteria |
0.136, P (0.933) | Juarque-Bera |
F-statistic 1.109, P (2.15) 0.355 | Breusch-Godfrey |
F-statistic 0.701, P (15,18) 0.685 | Breusch-Pagan-Godfrey |