ECM Regression

Case 3: Unrestricted Constant and No Trend

Model 1

Variable

Coefficient

Std. Error

t-Statistic

Prob.

C

0.63

0.06

10.22

0.00

D(LNINSINVES)

−0.23

0.04

−5.95

0.00

D(LNINTEREST)

0.07

0.08

0.87

0.40

D(LNTRADEOP)

0.04

0.07

0.66

0.52

D(LNGOVEXP)

0.56

0.07

7.66

0.00

D(INF)

−0.25

0.15

−1.65

0.12

CointEq (−1)*

−0.96

0.10

−9.49

0.00