Vector Error Correction Estimates |
|
|
|
|
| ||
Date: 12/28/19 Time: 08:49 |
|
|
|
|
| ||
Sample (adjusted): 2012M05 2019M09 |
|
|
|
|
| ||
Included observations: 89 after adjustments |
|
|
|
| |||
Standard errors in ( ) & t-statistics in [ ] |
|
|
|
| |||
Cointegrating Eq: | CointEq1 |
|
|
|
|
|
|
L_N5(−1) | 1.000000 |
|
|
|
|
|
|
L_RGDP15(−1) | −0.928992 (0.41385) [−2.24475] |
|
|
|
|
|
|
R_3REV(−1) | 2.081407 (0.94942) [2.19229] |
|
|
|
|
|
|
L_BLACKREV(−1) | −0.120738 (0.06460) [−1.86900] |
|
|
|
|
|
|
L_MOBVREV(−1) | 0.074653 (0.02212) [3.37490] |
|
|
|
|
|
|
L_NEERREV(−1) | −0.613001 (0.35186) [−1.74217] |
|
|
|
|
|
|
L_CPI(−1) | −0.130652 (0.03701) [−3.53018] |
|
|
|
|
|
|
@TREND(12M01) | 0.026627 (0.00714) [3.72730] |
|
|
|
|
|
|
C | 1.276332 |
|
|
|
|
|
|
Error Correction: | D(L_N5) | D(L_RGDP15) | D(R_3REV) | D(L_BLACKREV) | D(L_MOBVREV) | D(L_NEERREV) | D(L_CPI) |
CointEq1 | −0.223119 (0.06482) [−3.44233] | −0.092353 (0.02055) [4.49331] | −0.024056 (0.01197) [2.00958] | 0.094927 (0.05123) [1.85293] | −0.209170 (0.14180) [1.47508] | −0.058430 (0.04125) [−1.41639] | −0.024434 (0.00739) [3.30667] |
D(L_N5(−1)) | 0.330899 (0.08843) [3.74204] | −0.177826 (0.02804) [−6.34171] | 0.003366 (0.01633) [0.20611] | −0.153002 (0.06989) [−2.18909] | 0.522664 (0.19346) [2.70169] | 0.038704 (0.05628) [0.68771] | −0.025553 (0.01008) [−2.53477] |