pre-crisis group Independent Variable: $i_t$

Variable

Coefficient

Std. Error

t-Statistic

Prob.

$\alpha$

3.644

0.327

11.129

0.000

${\beta }_{\pi }$

1.002

0.192

5.212

0.000

${\beta }_u$

0.578

0.161

3.602

0.001

${\beta }_y$

0.010

0.004

2.230

0.028

R-squared

0.390

Mean dependent var

5.558

Adjusted R-squared

0.371

S.D. dependent var

2.400

S.E. of regression

1.904

Akaike info criterion

4.165

Sum squared resid

348.019

Schwarz criterion

4.269

Log likelihood

−204.248

Hannan-Quinn criter.

4.207

F-statistic

20.432

Durbin-Watson stat

0.257

Prob(F-statistic)

0.000

post-crisis group Independent Variable: $i_t$

Variable

Coefficient

Std. Error

t-Statistic

Prob.

$\alpha$

1.514

0.161

9.401

0.000

${\beta }_{\pi }$

0.033

0.087

0.381

0.705

${\beta }_u$

0.119

0.054

2.189

0.035

${\beta }_y$

0.003

0.001

2.933

0.006

R-squared

0.293

Mean dependent var

1.760

Adjusted R-squared

0.237

S.D. dependent var

0.725

S.E. of regression

0.634

Akaike info criterion

2.016

Sum squared resid

15.254

Schwarz criterion

2.181

Log likelihood

−38.326

Hannan-Quinn criter.

2.076

F-statistic

5.248

Durbin-Watson stat

0.938

Prob(F-statistic)

0.004