Error Correction

D(CIEA)

D(LNEXP)

CointEq1

−2.03908

[−5.98345]

−0.04027

[−3.18586]

D(CIEA(−1))

0.601354

[2.05316]

0.037880

[3.48648]

D(CIEA(−2))

0.194234

[0.82449]

0.027041

[3.09427]

D(CIEA(−3))

0.036709

[0.22217]

0.018883

[3.08072]

D(CIEA(−4))

−0.14518

[−1.50140]

0.008714

[2.42925]

D(LNEXP(−1))

10.71519

[3.29731]

−0.83776

[−6.94963]

D(LNEXP(−2))

9.051741

[2.27158]

−0.52147

[−3.52780]

D(LNEXP(−3))

6.354194

[1.66243]

−0.27085

[−1.91027]

D(LNEXP(−4))

5.165923

[1.95064]

−0.08055

[−0.81997]

C

0.084444

[0.23223]

0.000840

[0.06230]

R-squared

0.722

0.6114

Log likelihood

−311.1184

64.42757

Akaike AIC

5.633656

0.954870

Schwarz SC

5.873673

0.714852