None * | 21.796 | 0.004 | 15.654 | 0.030 | Trace test indicates 2 cointegrating eqn(s) at the 0.05 level |
At most 1 * | 6.142 | 0.013 | 6.142 | 0.013 | Max-eigenvalue test indicates 2 cointegrating eqn(s) at the 0.05 level |
US | |||||
None * | 16.205 | 0.039 | 12.66 | 0.088 | Trace test indicates 1 cointegrating eqn(s) at the 0.05 level |
At most 1 | 3.543 | 0.059 | 3.543 | 0.059 | Max-eigenvalue test indicates no cointegration at the 0.05 level |