Table 12 NARDL results for \({T}_{{en}}\sim {T}_{{world}}\).
Residuals | ||||
|---|---|---|---|---|
Min | 1Q | Median | 3Q | Max |
−1.15991 | −0.03685 | 0.05899 | 0.11892 | 0.28520 |
Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
Const. | 2.32845 | 0.18342 | 12.695 | \(< 2\times {10}^{-16}\) |
\({T}_{e{n}_{1}}\) | −1.07447 | 0.08156 | −13.173 | \(< 2\times {10}^{-16}\) |
\({T}_{{worl}{d}_{p}}\) | 0.04539 | 0.13507 | 0.336 | 0.737 |
\({T}_{{worl}{d}_{n}}\) | −0.03348 | 0.19938 | −0.168 | 0.867 |
\({T}_{{worl}{d}_{n1}}\) | 0.08007 | 0.19589 | 0.409 | 0.683 |
Residual Std. Err.: | 0.2334 | R-squared: | 0.5382 (Multiple) | 0.5258 (Adjusted) |
F-Statistic: | 43.4 | p-value: | \(< 2\times {10}^{-16}\) | |
Model Diagnostic Test | ||||
JB test | LM test | ARCH test | ||
Statistic | 0.798927 | 1.7237410 | 0.4788096 | |
p-value | \(2.84\times {10}^{-13}\) | 0.4143917 | 0.4889620 | |
Short Run Asymmetry Test | ||||
W-Statistic: | 0.1615374 | p-value: | 0.922407 | |
Cointegration Test | ||||
154 Observations | 2 Regressors | 3 Cases | ||
F-Statistic: | 43.404196 | |||
Long Run Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
\({T}_{{worl}{d}_{p}}\) | 0.042247 | 0.125722 | 0.3360 | 0.7368 |
\({T}_{{worl}{d}_{n}}\) | −0.031161 | 0.185530 | −0.1680 | 0.8666 |
\({T}_{{worl}{d}_{n1}}\) | 0.074523 | 0.182258 | 0.4089 | 0.6826 |
Long Run Asymmetry Test | ||||
W-Statistic: | 0.1399219 | p-value: | 0.9324302 | |
