Table 7 NARDL results for \({T}_{{mp}}\sim {T}_{{politics}}\).
Residuals | ||||
|---|---|---|---|---|
Min | 1Q | Median | 3Q | Max |
−0.197880 | −0.010480 | 0.006066 | 0.016639 | 0.067410 |
Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
Const. | 0.2705508 | 0.0565719 | 4.782 | \(4.19\times {10}^{-6}\) |
\({T}_{m{p}_{1}}\) | −0.2843992 | 0.0584271 | −4.868 | \(2.9\times {10}^{-6}\) |
\({T}_{{politic}{s}_{p}}\) | 0.0584618 | 0.0278109 | 2.102 | 0.0373 |
\({T}_{{politic}{s}_{p1}}\) | −0.0299257 | 0.0278346 | −1.075 | 0.2841 |
\({T}_{{politic}{s}_{n}}\) | 0.0001869 | 0.0260404 | 0.007 | 0.9943 |
\({T}_{{politic}{s}_{n1}}\) | 0.0193990 | 0.0338971 | 0.572 | 0.5680 |
\({T}_{{politic}{s}_{n2}}\) | 0.0084233 | 0.0270003 | 0.312 | 0.7555 |
Residual Std. Err.: | 0.0346 | R-squared: | 0.1702 (Multiple) | 0.1361 (Adjusted) |
F-Statistic: | 4.99 | p-value: | 0.0001118 | |
Model Diagnostic Test | ||||
JB test | LM test | ARCH test | ||
Statistic | 0.867349 | 0.7313580 | 4.02872288 | |
p-value | \(2.06\times {10}^{-10}\) | 0.5495902 | 0.04473179 | |
Short Run Asymmetry Test | ||||
W-Statistic: | 2.093584 | p-value: | 0.3510622 | |
Cointegration Test | ||||
153 Observations | 2 Regressors | 3 Cases | ||
F-Statistic: | 4.98985 | |||
Long Run Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
\({T}_{{politic}{s}_{p}}\) | 0.20556252 | 0.10886970 | 1.8882 | 0.05901 |
\({T}_{{politic}{s}_{p1}}\) | −0.10522428 | 0.10400319 | −1.0117 | 0.31166 |
\({T}_{{politic}{s}_{n}}\) | 0.00065711 | 0.09154390 | 0.0072 | 0.99427 |
\({T}_{{politic}{s}_{n1}}\) | 0.06821036 | 0.12071849 | 0.5650 | 0.57205 |
\({T}_{{politic}{s}_{n2}}\) | 0.02961803 | 0.09483272 | 0.3123 | 0.75480 |
Long Run Asymmetry Test | ||||
W-Statistic: | 25.88412 | p-value: | 0.000174 | \(2.4\times {10}^{-6}\) |
