Unrestricted Cointegration Rank Test (Trace) | ||
Hypothesized No. of CE(s) | Trace Statistics | 0.05 Critical Value (Trace) |
None* | 82.28517 | 69.81889 |
At most 1* | 48.28682 | 47.85613 |
At most 2 | 27.38374 | 29.79707 |
At most 3 | 12.17404 | 15.49471 |
At most 4 | 0.514483 | 3.841466 |
Unrestricted Cointegration Rank Test (Maximum-Eigenvalue) | ||
Hypothesized No. of CE(s) | Maximum-Eigenvalue | 0.05 Critical Value (Max) |
None* | 33.87587 | 33.87587 |
At most 1 | 20.90308 | 27.58434 |
At most 2 | 15.20908 | 21.13162 |
At most 3 | 11.65956 | 14.26460 |
At most 4 | 0.514483 | 3.841466 |