ECM

Y1

Y2

Y3

Y4

EC

−1.824

(0.693)

−0.464

(0.151)

−0.026

(0.124)

−0.057

(0.044)

Y1 (−1)

0.876

(0.592)

Y2 (−1)

−0.657

(0.172)

Y3 (−1)

−0.398

(0.304)

Y4 (−1)

0.366

(0.290)

Y1 (−2)

0.5293

(0.475)

Y2 (−2)

−0.548

(0.189)

Y3 (−2)

−0.7124

(0.318)

Y4 (−2)

0.333

(0.329)

Y1 (−3)

0.306

(0.340)

Y3 (−3)

−0.683

(0.425)

Y4 (−3)

−0.311

(0.374)

Y3 (−4)

−0.413

(0.398)

Y4 (−4)

−0.149

(0.329)

Y3 (−5)

−0.276

(0.406)

Y4 (−5)

−0.032

(0.318)

X31 (−1)

0.519

(0.781)

−0.669

(0.274)

0.001

(0.025)

0.003

(0.031)

X31 (−2)

−0.516

(0.681)

−0.469

(0.305)

0.027

(0.027)

−0.007

(0.030)

X31 (−3)

0.032

(0.729)

0.043

(0.030)

0.010

(0.035)

X31 (−4)

−0.015

(0.028)

−0.038

(0.033)

X31 (−5)

−0.017

(0.027)

0.024

(0.032)

X32 (−1)

0.077

(0.147)

0.160

(0.065)

0.003

(0.014)

0.019

(0.015)

X32 (−2)

0.233

(0.150)

0.068

(0.053)

0.004

(0.015)

0.012

(0.014)

X32 (−3)

0.166

(0.148)

0.002

(0.014)

0.008

(0.015)

X32 (−4)

0.004

(0.011)

0.019

(0.016)

X22 (−5)

0.003

(0.006)

0.012

(0.010)

X33 (−1)

0.119

(0.331)

−0.069

(0.143)

0.010

(0.012)

−0.031

(0.018)

X33 (−2)

−0.143

(0.332)

0.140

(0.131)

0.014

(0.010)

0.001

(0.018)

X33 (−3)

−0.252

(0.376)

0.007

(0.013)

−0.001

(0.022)

X33 (−4)

0.002

(0.015)

−0.005

(0.022)

X33 (−5)

−0.009

(0.011)

−0.017

(0.018)

C

−0.015

(0.055)

0.020

(0.018)

0.005

(0.003)

0.003

(0.002)

R-squared

0.547

0.619

0.561

0.639

Adj. R-squared

0.280

0.492

−0.206

0.009

Sum sq. resids

1.775

0.315

0.001

0.001

S.E. equation

0.284

0.108

0.008

0.010

F-statistic

2.042

4.873

0.732

1.014

Log likelihood

3.090

35.656

134.102

125.500

Akaike AIC

0.606

−1.387

−6.594

−6.088

Schwarz SC

1.222

−0.951

−5.607

−5.101

Mean dependent

0.011

0.003

0.001

0.002

S.D. dependent

0.335

0.152

0.007

0.010