Unrestricted Cointegration Rank Test (Maximum Eigenvalue) | ||||
Hypothesized No. of CE(s) |
Eigenvalue | Max-Eigen Statistic | 0.05 Critical Value | Prob.** |
None* | 0.952943 | 88.63527 | 40.07757 | 0.0000 |
At most 1* | 0.765178 | 42.01891 | 33.87687 | 0.0043 |
At most 2* | 0.659923 | 31.27887 | 27.58434 | 0.0160 |
At most 3 | 0.400737 | 14.84958 | 21.13162 | 0.2996 |
At most 4 | 0.300231 | 10.35316 | 14.26460 | 0.1898 |
At most 5 | 0.030220 | 0.889881 | 3.841466 | 0.3455 |