Hypothesized | Trace 0.05 | Max-Eigen 0.05 | |||||
No. of CE(s) | Eigenvalue | Statistic | Critical Value | Prob.** | Statistic | Critical Value | Prob.** |
None* | 0.909336 | 169.2950 | 125.6154 | 0.0000 | 69.61734 | 46.23142 | 0.0000 |
At most 1* | 0.697329 | 99.67771 | 95.75366 | 0.0261 | 34.65815 | 40.07757 | 0.1798 |
At most 2 | 0.680058 | 65.01956 | 69.81889 | 0.1138 | 33.04884 | 33.87687 | 0.0625 |
At most 3 | 0.381495 | 31.97072 | 47.85613 | 0.6138 | 13.93305 | 27.58434 | 0.8272 |
At most 4 | 0.317106 | 18.03767 | 29.79707 | 0.5633 | 11.06107 | 21.13162 | 0.6412 |
At most 5 | 0.196808 | 6.976598 | 15.49471 | 0.5804 | 6.355691 | 14.26460 | 0.5680 |
At most 6 | 0.021183 | 0.620907 | 3.841466 | 0.4307 | 3.841466 | 3.84166 | 0.4307 |