Unrestricted Cointegration Rank Test (Trace)

Hypothesized

Trace

0.05

No. of CE(s)

Eigenvalue

Statistic

Critical Value

Prob.**

None *

0.225331

16.45126

12.32090

0.0096

At most 1

0.018691

1.132064

4.129906

0.3346

Unrestricted Cointegration Rank Test (Maximum Eigenvalue)

Hypothesized

Max-Eigen

0.05

No. of CE(s)

Eigenvalue

Statistic

Critical Value

Prob.**

None *

0.225331

15.31920

11.22480

0.0091

At most 1

0.018691

1.132064

4.129906

0.3346