| RI |
|
|
|
| −1.61e−14*** |
|
|
|
| −1.72e−15** |
|
|
|
| −5.95e−14*** |
|
|
|
|
| 2.52e−15 |
|
|
|
| 7.34e−16 |
|
|
|
| 1.42e−14 | |
| Observations | 168 | 168 | 168 | 168 | 154 | 182 | 182 | 168 | 168 | 168 | 168 | 168 | 168 | 182 | 182 |
| AR (1) | −8.92 (0.000) | −7.40 (0.000) | −9.02 (0.000) | −9.61 (0.000) | −5.34 (0.000) | −6.69 (0.000) | −5.53 (0.000) | −9.70 (0.000) | −7.39 (0.000) | −8.08 (0.000) | −8.51 (0.000) | −14.56 (0.000) | −9.04 (0.000) | −6.44 (0.000) | −5.96 (0.000) |
| AR (2) | 2.64 (0.008) | −1.39 (0.166) | 2.85 (0.004) | 2.19 (0.28) | −2.22 (0.026) | 0.20 (0.840) | −2.65 (0.008) | 2.84 (0.004) | −0.88 (0.380) | 0.49 (0.623) | 0.59 (0.555) | 1.33 (0.182) | 0.85 (0.395) | −6.85 (0.000) | −2.19 (0.028) |
| Sargan | 136.84 (0.735) | 147.68 (0.422) | 141.77 (0.490) | 120.55 (0.869) | 15807 (0.003) | 175.14 (0.317) | 175.90 (0.285) | 140.22 (0.527) | 165.57 (0.062) | 181.81 (0.005) | 140.17 (0.664) | 154.64 (0.277) | 203.17 (0.001) | 200.87 (0.020) | 224.47 (0.001) |
| Number of instruments | 168 | 168 | 168 | 168 | 154 | 182 | 182 | 168 | 168 | 168 | 168 | 168 | 168 | 182 | 182 |
| Number of group | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |