Dependent variable: log of private consumption | ||||
| Model 1 | Model 2 | ||
CCEMG | MG | CCEMG | MG | |
G | −0.096** (−1.87) | −0.110*(−2.13) | −0.123* (−2.73) | −0.125* (−2.49) |
GDP | 0.942* (11.74) | 1.123* (19.2) | 0.733* (7.91) | 0.782* (9.20) |
Intercept | 0.030 (0.04) | −0.787 (−0.87) | 0.503 (0.43) | 1.695* (3.15) |
RMSE | 0.060 | 0.083 | 0.061 | 0.083 |
CD test | −1.024 [0.305] | 3.390* [0.001] | −1.213 [0.225] | 3.36* [0.001] |
IPS | −12.492* [0.000] | −7.220* [0.000] | −12.227* [0.000] | −7.585* [0.000] |
CADF | −5.300* [0.000] | −3.583* [0.000] | −6.168* [0.000] | −3.392* [0.000] |