VAR lag order selection criteria

Endogenous variables: D(TY30) D(JLL) D(COLLIERS) D(CBRE)

Exogenous variables: C

Date: 06/25/15 Time: 22:31

Sample: 6/16/2004 6/19/2015

Included observations: 2764

Lag

LogL

LR

FPE

AIC

SC

HQ

0

−3159.406

NA

0.000116

2.289006

2.297579

2.292102

1

−3089.547

139.4652

0.000112

2.250034

2.292902*

2.265518*

2

−3072.976

33.03313

0.000111*

2.249621*

2.326784

2.277492

3

−3063.856

18.15550

0.000112

2.254599

2.366057

2.294857

4

−3053.041

21.49520

0.000112

2.258351

2.404104

2.310997

5

−3043.442

19.05267

0.000113

2.262983

2.443031

2.328016

6

−3026.670

33.24045*

0.000113

2.262424

2.476767

2.339845

7

−3018.261

16.64170

0.000114

2.267917

2.516555

2.357725

8

−3008.480

19.32792

0.000114

2.272417

2.555350

2.374612