Unrestricted Cointegration Rank Test (Trace and Maximum Eigenvalue) | ||||
Hypothesized | Fisher Stat.* |
| Fisher Stat.* |
|
No. of CE(s) | (from trace test) | Prob. | (from max-eigen test) | Prob. |
None | 343.3 | 0.0000 | 216.3 | 0.0000 |
At most 1 | 197.5 | 0.0000 | 127.7 | 0.0000 |
At most 2 | 110.1 | 0.0000 | 82.24 | 0.0000 |
At most 3 | 54.33 | 0.0000 | 43.17 | 0.0015 |
At most 4 | 44.67 | 0.0001 | 44.67 | 0.0001 |