Hypothesized

Max-Eigen

0.05

No. of CE (s)

Eigenvalue

Statistic

Critical Value

Prob.**

None*

0.713709

35.02095

33.87687

0.0364

At most 1

0.606349

26.10417

27.58434

0.0764

At most 2*

0.585632

24.66805

21.13162

0.0152

At most 3

0.212755

6.698026

14.26460

0.5254

At most 4

0.015866

0.447803

3.841466

0.5034