Appendix C: Toda-Yamamoto procedure results
|
Unrestricted Cointegration Rank Test (Trace) |
||||
|---|---|---|---|---|
|
Hypothesised |
Trace |
0.05 |
||
|
No. of CE(s) |
Eigenvalue |
Statistic |
Critical Value |
Prob.** |
|
None* |
0.554708 |
70.70654 |
63.87610 |
0.0119 |
|
At most 1 |
0.405909 |
39.15459 |
42.91525 |
0.1131 |
|
At most 2 |
0.301067 |
18.84641 |
25.87211 |
0.2900 |
|
At most 3 |
0.117539 |
4.876570 |
12.51798 |
0.6142 |
|
Unrestricted Cointegration Rank Test (Maximum Eigenvalue) |
||||
|
Hypothesised |
Max-Eigen |
0.05 |
||
|
No. of CE(s) |
Eigenvalue |
Statistic |
Critical Value |
Prob.** |
|
None |
0.554708 |
31.55196 |
32.11832 |
0.0585 |
|
At most 1 |
0.405909 |
20.30817 |
25.82321 ... | |
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