Hypothesized | Eigen | Trace | Critical Value | Maximum | Critical value |
Number of cointegrating | Value | Statistics | at 5% | Eigen | at 5% |
Equations |
|
| (p-value) | Statistics | (p-value) |
None* | 0.276 | 68.455 | 15.495 (0.000) | 36.815 | 14.265 (0.000) |
At most 1* | 0.242 | 31.64 | 3.841 (0.000) | 31.64 | 3.842 (0.000) |