Paremeter

Estimate

Std Deviation

Stat t

p value

1

Constant term

−0.0224

0.0131

−1.7116

0.0932

2

Brent Price_t−5

−0.0835

0.1110

−0,7520

0.4556

3

Brent Price_t−10

−0.0577

0.0997

−0.5786

0,5655

4

Aluminum Price_t−1

−0.4527

0.2373

−1.9081

0.0621

5

Aluminum Price_t−3

−0.0189

0.2203

−0.0858

0.9320

6

Aluminum Price_t−5

0.0588

0.2283

0.2575

0.7978

7

Aluminum Price_t−6

0.3940

0.2173

1.8132

0.0758

8

Aluminum Price_t−7

0.3181

0.2102

1.5131

0.1365

9

Aluminum Price_t−11

−0.5007

0.2162

−2.3161

0.0247

10

Stocks_t−2

0.1337

0.1354

0.9877

0.3280

11

Stocks_t−3

0.0257

0.1284

0.2002

0.8412

12

Industrial Production_t−4

3.4682

2.2335

1.5528

0.1268

13

Industrial Production_t−5

2.8223

2.0033

1.4088

0.1651

14

Industrial Production_t−6

1.2735

1.9425

0.6556

0.5151

15

Industrial Production_t−7

1.7080

1.9394

0.8807

0.3827

16

Copper Price_t−1

−0.4829

0.1939

−2.4905

0.0161

17

Copper Price_t−3

−0.1927

0.2230

−0.8640

0.3917

18

Copper Price_t−5

0.1588

0.2253

0.7048

0.4842

19

Copper Price_t−6

−0.6923

0.2203

−3.1423

0.0028

20

Copper Price_t−7

−0.0435

0.2102

−0.2069

0.8370

21

Copper Price_t−11

0.3554

0.2298

1.5463

0.1283