Cointegrating Eq: | CointEq1 |
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G20_INFLR(−1) | 1.000000 |
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G20_IMPR(−1) | 1.633429 |
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| (0.10338) |
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| [15.8003] |
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G20_EXPR(−1) | −2.245158 |
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| (0.12471) |
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| [−18.0034] |
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G20_UER(−1) | −4.751397 |
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| (0.37209) |
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| [−12.7694] |
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G20_FDIR(−1) | −0.789211 |
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| (0.17881) |
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| [−4.41371] |
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G20_GSAVR(−1) | −4.564901 |
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| (0.29340) |
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| [−15.5588] |
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C | 148.6754 |
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Error Correction: | D(G20_INFLR) | D(G20_IMPR) | D(G20_EXPR) | D(G20_UER) | D(G20_FDIR) | D(G20_GSAVR) |
CointEq1 | −0.413823 | 0.548314 | 0.519291 | −0.007024 | −0.041499 | 0.026546 |
| (0.10144) | (0.75279) | (0.55926) | (0.05951) | (0.06720) | (0.09612) |
| [−4.07936] | [0.72837] | [0.92854] | [−0.11803] | [−0.61756] | [0.27618] |
D(G20_INFLR(−1)) | −0.303608 | −0.999052 | −0.601338 | 0.042117 | 0.038443 | −0.130220 |
| (0.18127) | (1.34515) | (0.99932) | (0.10634) | (0.12007) | (0.17175) |
| [−1.67494] | [−0.74271] | [−0.60175] | [0.39606] | [0.32016] | [−0.75819] |
D(G20_IMPR(−1)) | 0.358260 | −0.040383 | 0.094984 | −0.011233 | 0.043105 | 0.129273 |
| (0.17759) | (1.31784) | (0.97903) | (0.10418) | (0.11764) | (0.16826) |
| [2.01739] | [−0.03064] | [0.09702] | [−0.10782] | [0.36643] | [0.76828] |
D(G20_EXPR(−1)) | −0.373140 | 0.137086 | −0.074054 | 0.011045 | −0.048770 | −0.112331 |
| (0.22867) | (1.69693) | (1.26066) | (0.13415) | (0.15148) | (0.21667) |
| [−1.63178] | [0.08078] | [−0.05874] | [0.08234] | [−0.32196] | [−0.51845] |
D(G20_UER(−1)) | −1.920714 | 10.33801 | 6.677376 | −0.350338 | 0.032457 | −0.114525 |
| (0.89130) | (6.61419) | (4.91373) | (0.52288) | (0.59041) | (0.84451) |
| [−2.15496] | [1.56300] | [1.35892] | [−0.67001] | [0.05497] | [−0.13561] |
D(G20_FDIR(−1)) | −1.260999 | 3.300690 | 2.087392 | −0.589382 | 0.242055 | 0.106050 |
| (0.66178) | (4.91097) | (3.64839) | (0.38824) | (0.43838) | (0.62704) |
| [−1.90547] | [0.67211] | [0.57214] | [−1.51810] | [0.55216] | [0.16913] |
D(G20_GSAVR(−1)) | −1.400896 | −4.104616 | −3.095127 | 0.137341 | −0.388135 | −0.673223 |
| (0.47170) | (3.50040) | (2.60047) | (0.27672) | (0.31246) | (0.44694) |
| [−2.96991] | [−1.17261] | [−1.19022] | [0.49631] | [−1.24219] | [−1.50630] |
C | −0.627830 | 0.253668 | 0.007480 | −0.034127 | −0.024316 | 0.074658 |
| (0.24931) | (1.85006) | (1.37442) | (0.14626) | (0.16514) | (0.23622) |
| [−2.51832] | [0.13711] | [0.00544] | [−0.23334] | [−0.14724] | [0.31606] |