Variable | Rest-of-World | United States | ||||
Residual Fuel Oil | ||||||
Estimate | T-Stat. | P-Values | Estimate | T-Stat. | P-Values | |
Constant | 5.252 | 2.47 | 0.01 | −0.813 | −1.72 | 0.09 |
Price | −0.021 | −2.79 | 0.01 | −0.006 | −2.12 | 0.03 |
Dist. Price | 0.017 | 1.62 | 0.11 | |||
Coal Price | 0.219 | 1.60 | 0.11 | |||
GDP | 0.112 | 2.13 | 0.03 | 0.150 | 2.50 | 0.01 |
Trend | −0.142 | −3.83 | 0.00 | −0.037 | −2.13 | 0.03 |
Lagged Q | 0.437 | 2.60 | 0.01 | 0.759 | 10.62 | 0.00 |
R2 | 0.985 | 0.916 | ||||
Durbin H | 1.318 | 0.19 | 1.143 | 0.25 | ||
Unit Root | −4.123 | 0.00 | −2.840 | 0.13 | ||
Petroleum Coke | ||||||
Constant | −0.295 | −2.50 | 0.01 | −0.076 | −1.44 | 0.15 |
Price | −0.003 | −2.53 | 0.01 | −0.006 | −3.74 | 0.00 |
NG Price | 0.001 | 1.89 | 0.06 | |||
GDP | 0.022 | 3.07 | 0.00 | 0.070 | 5.19 | 0.00 |
Trend | −0.017 | −4.96 | 0.00 | |||
Lagged Q | 0.452 | 2.41 | 0.02 | 0.388 | 2.92 | 0.00 |
D2004 | 0.083 | 7.34 | 0.00 | |||
D2000 | −0.082 | −12.34 | 0.00 | |||
R2 | 0.990 | 0.850 | ||||
Durbin H | 2.159 | 0.03 | −0.878 | 0.38 | ||
Unit Root | −2.351 | 0.39 | −2.678 | 0.20 | ||
Other Petroleum Products | ||||||
Constant | −1.710 | −2.00 | 0.05 | 0.015 | 0.08 | 0.93 |
Price | −0.007 | −2.65 | 0.01 | −0.003 | −4.97 | 0.00 |
GDP | 0.384 | 4.23 | 0.00 | 0.267 | 3.73 | 0.00 |
Trend | −0.128 | −2.15 | 0.03 | −0.073 | −3.66 | 0.00 |
Lag Q | 0.382 | 3.03 | 0.00 | 0.441 | 4.08 | 0.00 |
R2 | 0.991 | 0.773 | ||||
Durbin H | 2.989 | 0.00 | 0.076 | 0.94 | ||
Unit Root | −2.353 | 0.39 | −2.805 | 0.14 |