D(L_N5(−2))

0.009548

(0.12156)

[0.07855]

−0.051348

(0.03855)

[−1.33213]

0.029844

(0.02245)

[1.32936]

−0.071426

(0.09608)

[−0.74342]

−0.283061

(0.26593)

[−1.06440]

−0.028367

(0.07736)

[−0.36667]

−0.025510

(0.01386)

[−1.84084]

D(L_N5(−3))

0.365538

(0.11882)

[3.07636]

0.006711

(0.03768)

[0.17811]

−0.029972

(0.02194)

[−1.36578]

−0.042892

(0.09392)

[−0.45670]

−0.053606

(0.25995)

[−0.20621]

0.046768

(0.07562)

[0.61842]

−0.028054

(0.01355)

[−2.07106]

D(L_RGDP15(−1))

−0.717545

(0.31426)

[−2.28328]

0.427410

(0.09965)

[4.28897]

0.059043

(0.05804)

[1.01728]

0.718733

(0.24839)

[2.89354]

0.373579

(0.68753)

[0.54337]

−0.117202

(0.20001)

[−0.58598]

0.027629

(0.03583)

[0.77120]

D(L_RGDP15(−2))

1.366425

(0.34693)

[3.93866]

0.078562

(0.11001)

[0.71413]

−0.037530

(0.06407)

[−0.58573]

0.282172

(0.27421)

[1.02903]

0.482516

(0.75899)

[0.63573]

−0.145450

(0.22080)

[−0.65874]

−0.037560

(0.03955)

[−0.94967]

D(L_RGDP15(−3))

−1.483815

(0.30101)

[−4.92949]

−0.478921

(0.09545)

[−5.01749]

−0.014426

(0.05559)

[−0.25950]

−1.049923

(0.23792)

[−4.41299]

−0.393454

(0.65853)

[−0.59747]

0.004666

(0.19158)

[0.02436]

0.078994

(0.03432)

[2.30199]

D(R_3REV(−1))

−1.415368

(0.62817)

[−2.25315]

0.266706

(0.19920)

[1.33891]

0.182034

(0.11602)

[1.56904]

0.356580

(0.49651)

[0.71817]

−0.276570

(1.37429)

[−0.20125]

−0.142841

(0.39980)

[−0.35728]

0.052805

(0.07161)

[0.73736]

D(R_3REV(−2))

−0.401894

(0.58023)

[−0.69265]

−0.110993

(0.18399)

[−0.60325]

−0.141498

(0.10716)

[−1.32042]

−0.169733

(0.45861)

[−0.37010]

1.069817

(1.26939)

[0.84278]

−1.065265

(0.36928)

[−2.88468]

−0.028311

(0.06615)

[−0.42801]

D(R_3REV(−3))

−0.285477

(0.59411)

[−0.48051]

0.285902

(0.18839)

[1.51758]

−0.177042

(0.10972)

[−1.61351]

0.262588

(0.46958)

[0.55919]

0.287302

(1.29976)

[0.22104]

−0.386005

(0.37812)

[−1.02085]

0.006146

(0.06773)

[0.09074]

D(L_BLACKREV(−1))

0.052260

(0.15137)

[0.34525]

−0.040536

(0.04800)

[−0.84452]

0.010966

(0.02796)

[0.39225]

−0.328045

(0.11964)

[−2.74190]

−0.312090

(0.33116)

[−0.94242]

0.071374

(0.09634)

[0.74086]

−0.009881

(0.01726)

[−0.57263]

D(L_BLACKREV(−2))

0.076169

(0.15511)

[0.49107]

−0.124167

(0.04919)

[−2.52449]

0.031313

(0.02865)

[1.09309]

−0.257124

(0.12260)

[−2.09731]

−0.127328

(0.33934)

[−0.37522]

0.181062

(0.09872)

[1.83412]

0.003592

(0.01768)

[0.20315]

D(L_BLACKREV(−3))

0.218240

(0.17667)

[1.23528]

−0.134015

(0.05602)

[−2.39212]

0.041642

(0.03263)

[1.27621]

0.599701

(0.13964)

[4.29453]

−0.328717

(0.38652)

[−0.85046]

0.042652

(0.11244)

[0.37932]

−0.000175

(0.02014)

[−0.00871]

D(L_MOBVREV(−1))

−0.012301

(0.05679)

[−0.21660]

−0.012981

(0.01801)

[−0.72077]

−0.008424

(0.01049)

[−0.80316]

−0.027298

(0.04489)

[−0.60813]

−0.513666

(0.12425)

[−4.13413]

0.008880

(0.03615)

[0.24566]

0.004750

(0.00647)

[0.73360]

D(L_MOBVREV(−2))

0.086455

(0.05811)

[1.48790]

−0.016921

(0.01843)

[−0.91832]

−0.013322

(0.01073)

[−1.24144]

−0.027596

(0.04593)

[−0.60087]

−0.089275

(0.12712)

[−0.70228]

−0.073529

(0.03698)

[−1.98826]

0.003157

(0.00662)

[0.47651]

D(L_MOBVREV(−3))

0.057666

(0.05397)

[1.06853]

0.015809

(0.01711)

[0.92378]

−0.002281

(0.00997)

[−0.22887]

0.027458

(0.04266)

[0.64370]

0.062586

(0.11807)

[0.53009]

−0.055097

(0.03435)

[−1.60411]

0.009887

(0.00615)

[1.60700]