Table 4 NARDL results for \({T}_{{en}}\sim {T}_{{economy}}\).
Residuals | ||||
|---|---|---|---|---|
Min | 1Q | Median | 3Q | Max |
−1.16441 | −0.03785 | 0.06075 | 0.11825 | 0.28425 |
Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
Const. | 2.322538 | 0.181484 | 12.797 | \(< 2\times {10}^{-16}\) |
\({T}_{e{n}_{1}}\) | −1.073522 | 0.081225 | −13.217 | \(< 2\times {10}^{-16}\) |
\({T}_{{econom}{y}_{p}}\) | −0.003276 | 0.104819 | −0.031 | 0.975 |
\({T}_{{econom}{y}_{n}}\) | −0.001675 | 0.105033 | −0.016 | 0.987 |
Residual Std. Err.: | 0.2325 | R-squared: | 0.5365 (Multiple) | 0.5273 (Adjusted) |
F-Statistic: | 58.25 | p-value: | \(< 2\times {10}^{-16}\) | |
Model Diagnostic Test | ||||
JB test | LM test | ARCH test | ||
Statistic | 0.796821 | 0.02374109 | 0.5019323 | |
p-value | \(2.13\times {10}^{-13}\) | 0.90267410 | 0.4786523 | |
Short Run Asymmetry Test | ||||
W-Statistic: | 0.05107248 | p-value: | 0.9747871 | |
Cointegration Test | ||||
155 Observations | 2 Regressors | 3 Cases | ||
F-Statistic: | 58.253966 | |||
Long Run Coefficients | ||||
Estimate | Std. Error | t-value | p-value | |
\({T}_{{econom}{y}_{p}}\) | −0.0030513 | 0.0976446 | −0.0312 | 0.9751 |
\({T}_{{econom}{y}_{n}}\) | −0.0015604 | 0.0978417 | −0.0159 | 0.9873 |
Long Run Asymmetry Test | ||||
W-Statistic: | 0.04431647 | p-value: | 0.9780855 | |
