DEPENDENT VARIABLE

ROA (4, 0, 0, 2, 1, 2)

ROE (1, 3, 0, 0, 0, 0)

TA (1, 0, 0, 0, 0, 0)

LONG-RUN

GBY

−0.16

−1.16**

1.00**

RGDP

−0.02**

1.76

−0.41**

IR

0.23

1.12**

−0.82**

JSEM

−0.02

0.17**

0.04**

UR

−0.01**

0.20**

−0.11**

ECT

−0.66**

−0.47**

−0.81***

Durbin-Watson

1.20

1.76

2.03

SER. CORR (X²)

12.709***

3.93**

0.43

HETERO.

58

58

38.40

STABILITY

STABLE

STABLE

STABLE