Date: 01/19/18 Time: 20:02

Sample: 1970 2016

Included observations: 42

Q-statistic probabilities adjusted for 2 dynamic regressors

Autocorrelation

Partial correlation

AC

PAC

Q-Stat

Prob*

**| . |

**| . |

1

−0.233

−0.233

2.4377

0.118

.*| . |

**| . |

2

−0.204

−0.273

4.3630

0.113

. | . |

.*| . |

3

−0.036

−0.183

4.4254

0.219

.*| . |

**| . |

4

−0.131

−0.299

5.2603

0.262

. |*. |

. | . |

5

0.196

−0.000

7.1758

0.208

.*| . |

.*| . |

6

−0.106

−0.201

7.7539

0.257

.*| . |

**| . |

7

−0.083

−0.206

8.1161

0.322

. |*. |

.*| . |

8

0.091

−0.124

8.5711

0.380

.*| . |

.*| . |

9

−0.067

−0.202

8.8244

0.454

. |*. |

. | . |

10

0.172

−0.009

10.527

0.396

.*| . |

.*| . |

11

−0.130

−0.202

11.533

0.400

.*| . |

**| . |

12

−0.095

−0.231

12.089

0.439

. |*. |

.*| . |

13

0.174

−0.100

14.013

0.373

. | . |

. | . |

14

0.032

−0.019

14.082

0.444

.*| . |

**| . |

15

−0.141

−0.291

15.435

0.421

. | . |

.*| . |

16

0.017

−0.181

15.455

0.492

. | . |

.*| . |

17

0.024

−0.169

15.497

0.560

. |*. |

. | . |

18

0.165

−0.017

17.592

0.483

.*| . |

.*| . |

19

−0.076

−0.105

18.054

0.519

.*| . |

.*| . |

20

−0.091

−0.066

18.745

0.538