Estimation Results:

Regressor

Coefficient

t-values

∆LREVOIL (1)

0.096

2.805***

∆LREVOIL (2)

0.072

1.978*

∆LREVOIL (3)

−0.007

−0.188

∆LREVOIL (4)

−0.024

−0.637

∆LREVOIL (5)

0.126

3.166***

∆LREVOIL (6)

0.197

4.941***

∆LREVOIL (7)

0.061

1.314

∆LREVOIL (8)

−0.010

−0.246

∆LREVOIL (9)

−0.015

−0.434

∆LEXP (1)

−0.202

−1.923*

∆LEXP (2)

−0.267

−2.830***

∆LEXP (3)

−0.343

−3.935***

∆LEXP (4)

−0.363

−3.940***

∆LEXP (5)

−0.236

−2.514**

∆LEXP (6)

−0.095

−1.229

∆LEXP (7)

−0.041

−0.628

∆LEXP (8)

−0.050

−0.855

∆LEXP (9)

−0.099

−2.368**

ECT

−0.171

−1.894*

C

0.006

1.433

Diagnostic Tests:

Test

Statistics

p-value

LM Test (Serial Correlation)

1.067

0.435

White Test (Heteroskedasticity)

0.488

0.967

Jarque-Bera Normality Test

1.825

0.401