Long-run Estimated Model:

LIMP = 1.000 LIMPORT₋₁

−1.7879 LREER₋₁

+0.0475 LDY₋₁

−0.6353 LM2₋₁

+6.4357

(0.5429)

[−3.29331]

(0.50101)

[0.094791]

(0.20508)

[−3.09749]

(2.98432)

[2.15650]

Short-run Estimated Error Correction Model:

DLIMP = −0.34 ECT₋₁

+0.02 DLIMP₋₁

+0.24 DLREER_{_1}

+1.64 DLDY_{_1}

+0.91 DLM2₋₁

−0.05

(0.1013)

[−3.3768]

(0.1305)

[0.1747]

(0.6868)

[0.3484]

(0.5866)

[2.7877]

(0.8551)

[1.0604]

(0.0570)

[−0.9058]