L t T V

L t T R

L t L R

L t C L R

L t H H

L t M E C

L t M A

L t i l l i q

L t L i u

L t A d j i l l i q

Argentina

a

0.0003

−0.0006

−0.0534

1.5972**

−0.0367

0.0159

−1.5390

−0.3279**

−0.0857

−0.1428**

β

0.0005

0.0009

0.2327*

−3.4089**

0.1517

0.0088

2.9460*

0.6957**

0.1199

0.3023**

a d j R 2

0.0033

0.0032

0.0417

0.1317

0.0074

0.0002

0.0192

0.0850

0.0032

0.0850

Brazil

a

−0.0486**

−0.0323**

0.1532**

−0.4365

−0.0465

0.0815**

−0.0011*

0.0027

−4.6620**

0.0001

β

0.0297

0.0148

−0.2844**

0.9882

0.1558**

−0.1738**

0.0204**

0.0027

2.1780**

0.0012

a d j R 2

0.0158

0.0118

0.1356

0.0116

0.0182

0.1028

0.0298

0.0016

0.0125

0.0016

Chile

a

−0.0024

−0.0262

−0.0033**

1.3599

−0.0059**

−0.0035

−0.0073

−0.0032

−3.9480**

−0.0014

β

0.0027

0.0276

0.0066**

−1.9404

0.0141**

−0.0170

0.0139**

0.0062**

4.3620**

0.0027**

a d j R 2

0.0034

0.0053

0.1086

0.0082

0.0629

0.0010

0.0245

0.0224

0.0064

0.0224

Colombia

a

0.0028

−0.0051

0.0029

1.2672

0.0012

−0.0326

−0.0031

−0.0052

−9.0580

−0.0023

β

−0.0054

0.0056

−0.0059*

−1.3038

0.0124*

1.9620

0.0059

0.0020

16.7060

0.0009

a d j R 2

0.0085

0.0001

0.0295

0.0039

0.0040

0.0057

0.0002

0.0001

0.0020

0.0003

Mexico

a

0.0021**

0.0017**

0.0294

−3.2418**

−0.3492**

0.0440*

−0.0114

−0.0029

0.2332**

−0.0012

β

−0.0039**

−0.0035**

−0.0599*

6.2802**

0.6763**

−0.0864**

0.0218

0.0052

−0.4640**

0.0023

a d j R 2

0.2139

0.1267

0.0356

0.1317

0.3111

0.0445

0.0048

0.0057

0.1259

0.0057

Peru

a

0.0001

0.0006

0.1263

2.1435**

−0.9223*

−0.0368

−1.0481

−0.2804*

0.0800**

−0.1219*

β

−0.0001

−0.0012*

−0.4050

−3.2634**

2.0196**

0.0680

2.0055

0.5255**

−0.1570**

0.2288**

a d j R 2

0.0013

0.0238

0.0117

0.0511

0.0130

0.0078

0.0019

0.0295

0.0238

0.0297