| Chapter 6 Tables: December 27, 1998 |
| This is an update of the tables in Chapter 6 in the 1994 book. It presents the ROW model that is part of the MC2 model. The date of the ROW model presented here is December 27, 1998. This is the latest version of the ROW model on this site. |
| ~ means the variable is lagged one period. * means the hypothesis of stability is rejected at the one percent level. LHS means left hand side.
Equation 1: Estimates |
| Table 6a: Equation 1: Estimates |
Equation 1: log(M/POP) is the LHS variable
Cty Cnst LHS-1 logPY/PM RS RB logY/POP A/PY*YS-1 RHO SE DW
Quarterly equations:
CA -1.635 0.825 0.077 -0.0072~ - 0.342 0.007 - 0.0376 2.27
(-4.13)(20.36) (1.50) (-5.28) (4.78) (0.31) 1966.1-1997.4
JA 0.089 0.874 0.044 -0.0026~ - 0.065 0.024 - 0.0354 2.29
(0.38)(24.36) (1.80) (-1.47) (1.60) (0.58) 1967.3-1997.4
AU -3.062 0.392 0.221 - - 1.244 0.039 - 0.0355 2.10
(-4.95) (4.62) (3.03) (5.70) (1.07) 1971.1-1995.4
FR -2.812 0.385 0.138 -0.0011~ - 1.380 0.198 - 0.0267 2.10
(-5.69) (4.02) (2.89) (-0.75) (5.90) (3.15) 1976.1-1997.4
GE -0.737 0.773 0.067 -0.0035~ - 0.407 0.018 - 0.0274 2.31
(-2.60)(11.43) (1.83) (-3.08) (2.74) (0.80) 1969.1-1997.4
IT -5.443 0.324 0.146 -0.0044~ - 1.176 0.167 - 0.0508 2.23
(-7.09) (4.08) (2.90) (-1.60) (8.09) (2.44) 1971.1-1997.4
NE -0.184 0.918 0.013~ -0.0034~ - 0.153 - -0.452 0.0330 1.98
(-1.26)(18.92) (0.42) (-2.64) (1.65) (-4.18) 1978.2-1997.4
ST -3.104 0.601 - - -0.0313 1.544 - - 0.0317 1.98
(-3.80) (5.82) (-4.51) (3.90) 1981.1-1996.4
UK -4.681 0.552 0.023~ - -0.0022 0.965 0.008 - 0.0312 1.89
(-6.78) (7.99) (0.67) (-1.26) (6.81) (0.43) 1966.1-1997.4
FI -3.215 0.584 0.032~ -0.0073~ - 0.675 - -0.428 0.0600 1.95
(-3.84) (6.00) (0.73) (-4.52) (4.39) (-3.67) 1976.1-1997.4
AS -5.436 0.675 0.283 -0.0020~ - 0.898 0.068 - 0.0442 1.88
(-5.15)(12.90) (4.98) (-1.31) (6.28) (2.22) 1971.1-1997.4
SO -0.985 0.808 0.299 -0.0085~ - 0.297 0.007 - 0.0752 2.44
(-0.92)(19.03) (3.95) (-4.47) (2.01) (0.63) 1962.1-1997.4
KO -1.698 0.587 0.093~ - - 0.585 - - 0.0709 2.22
(-4.20) (7.66) (1.79) (4.96) 1972.1-1997.4
Cty Cnst LHS-1 logPY/PM RS RB logY/POP A/PY*YS-1 RHO SE DW
Annual equations:
BE -1.264 0.679 0.213 - - 0.497~ - - 0.0444 1.99
(-0.76) (2.93) (2.78) (1.05) 1961-1996
DE -1.392 0.424 0.075 - - 0.718 0.309 - 0.0472 1.95
(-3.15) (3.11) (0.66) (4.35) (1.83) 1967-1996
NO -0.537 0.733 - - - 0.301 - - 0.0634 1.81
(-1.55) (6.60) (2.12) 1962-1996
SW -5.313 0.120 0.036 -0.0245 - 1.733 - - 0.0525 1.95
(-3.88) (0.50) (0.31) (-3.83) (3.91) 1965-1996
GR -0.522 0.766 - - - 0.269 - - 0.0854 2.19
(-0.63) (6.02) (1.26) 1964-1996
IR -1.316 0.646 0.258 - - 0.479 0.046 - 0.0574 1.60
(-0.94) (3.23) (1.97) (1.45) (0.34) 1962-1996
PO -2.234 0.802 - - -0.0042 0.505 - - 0.1060 1.51
(-1.92) (8.00) (-0.90) (2.01) 1962-1996
SP -2.597 0.473 0.560 - - 0.782 0.765 - 0.0631 1.67
(-2.00) (3.53) (4.61) (2.87) (2.98) 1964-1996
NZ-10.808 0.168 0.425 - -0.0080 1.785 - - 0.0821 2.27
(-4.69) (1.28) (3.85) (-1.44) (5.62) 1962-1996
SA -1.983 0.820 - - - 0.691 0.054 - 0.1148 1.47
(-4.60)(17.26) (5.20) (0.84) 1970-1996
VE -9.574 0.188 0.516 - - 2.466 0.684 - 0.1392 1.66
(-4.73) (1.64) (2.42) (5.27) (2.32) 1963-1996
CO -5.100 0.681 - - - 1.041 1.491 - 0.0953 2.30
(-2.90) (6.56) (3.10) (4.39) 1972-1996
JO -0.884 0.726 - - - 0.394 0.048 - 0.1189 1.47
(-0.66) (4.13) (1.16) (0.30) 1971-1996
SY 0.258 0.353 0.115 - - 0.487 - - 0.2181 2.06
(0.16) (1.93) (1.25) (2.19) 1965-1996
ID -1.759 0.754 0.474 -0.0019 - 0.947 1.449 - 0.1259 1.83
(-4.05) (5.33) (3.39) (-0.22) (4.07) (1.92) 1962-1995
MA -5.857 0.558 0.518 - - 1.103 0.572 - 0.0720 1.53
(-5.52) (5.19) (2.72) (5.13) (3.02) 1972-1997
PA -0.979 0.427 0.610 - - 0.587 - - 0.0692 1.72
(-2.39) (2.57) (2.37) (2.83) 1976-1997
PH -3.499 0.730 0.681 -0.0062 - 1.406 - - 0.1143 1.11
(-3.89) (6.96) (3.63) (-1.20) (4.01) 1962-1997
TH -2.598 0.239 0.527 - - 1.359 1.075 - 0.0557 1.61
(-9.34) (2.78) (5.72) (9.75) (6.82) 1962-1997
CH -0.841 0.564 - - - 0.576 - - 0.1470 1.50
(-1.53) (2.58) (1.43) 1983-1997
AR - 0.478 - - - 0.384 - - 0.1638 2.08
(1.90) (2.22) 1992-1997
CE -5.407 0.365 - - - 1.315 - - 0.1424 1.47
(-3.91) (2.16) (4.09) 1977-1997
ME -4.094 0.682 - - - 0.699 0.407 - 0.2002 1.70
(-2.11) (5.38) (2.45) (1.12) 1961-1996
PE - 0.792 - - - 0.139 - - 0.0917 1.83
(3.42) (1.02) 1992-1997
|
| Table 6a: Equation 2: Estimates |
Equation 2: log(C/POP) is the LHS variable
Cty Cnst LHS-1 RS RB logY/POP A/PY*YS-1 RHO SE DW
Quarterly equations:
CA -0.288 0.787 - -0.0017~ 0.237 0.010 - 0.0080 2.14
(-3.60) (13.10) (-4.35) (3.93) (1.88) 1966.1-1997.4
JA 0.047 0.764 - -0.0013 0.212 - -0.297 0.0101 2.04
(1.49) (16.21) (-2.88) (4.57) (-3.24) 1967.3-1997.4
AU -0.518 0.277 - -0.0032 0.761 - - 0.0126 1.69
(-6.51) (3.46) (-2.59) (8.72) 1971.1-1995.4
FR -0.069 0.841 -0.0003 - 0.156 - - 0.0069 2.24
(-1.10) (11.19) (-0.91) (1.89) 1976.1-1997.4
GE 0.005 0.893 - -0.0016 0.080 0.012 -0.287 0.0075 2.06
(0.20) (37.70) (-3.59) (2.83) (3.15) (-3.06) 1969.1-1997.4
IT -0.175 0.809 -0.0010 - 0.202 - 0.861 0.0034 1.28
(-1.08) (13.24) (-3.04) (2.97) (12.25) 1971.1-1997.4
NE 0.003 0.880 - -0.0018 0.098 - - 0.0083 2.46
(0.11) (16.12) (-2.27) (2.11) 1978.2-1997.4
ST 0.107 0.804 - -0.0013~ 0.111 - 0.688 0.0022 1.61
(1.53) (8.41) (-1.65) (1.92) (5.39) 1981.1-1996.4
UK -0.574 0.848 -0.0014 - 0.219 0.021 - 0.0104 2.48
(-5.28) (20.48) (-4.15) (4.39) (3.51) 1966.1-1997.4
FI -0.039 0.844 -0.0009 - 0.152 0.014 - 0.0116 2.05
(-0.39) (14.79) (-1.94) (2.76) (2.14) 1976.1-1997.4
AS -0.457 0.894 -0.0008 - 0.156 0.011 - 0.0077 2.21
(-2.61) (23.49) (-3.01) (3.38) (2.05) 1971.1-1997.4
SO 0.523 0.822 -0.0006~ - 0.097 - - 0.0210 2.09
(2.74) (18.47) (-1.76) (2.77) 1962.1-1997.4
KO 0.093 0.878 -0.0006 - 0.101 0.012 -0.383 0.0146 1.92
(3.29) (28.44) (-1.53) (3.68) (2.86) (-3.81) 1972.1-1997.4
Cty Cnst LHS-1 RS RB logY/POP A/PY*YS-1 RHO SE DW
Annual equations:
BE -0.146 0.538 - - 0.454 - - 0.0103 1.77
(-2.55) (8.86) (7.19) 1961-1996
DE 0.265 0.465 - 0.0001 0.430 0.196 - 0.0203 1.47
(1.42) (3.28) (0.04) (3.96) (2.43) 1967-1996
NO 0.289 0.574 - - 0.315 - - 0.0203 1.49
(3.54) (4.38) (3.11) 1962-1996
SW 0.339 0.471 -0.0003 - 0.401 0.350 - 0.0116 1.72
(3.23) (5.66) (-0.31) (5.94) (4.92) 1965-1996
GR 0.210 0.759 - - 0.203 0.045 - 0.0155 1.56
(0.95) (5.96) (1.33) (0.46) 1964-1996
IR 0.746 0.682 - -0.0023 0.221 - - 0.0256 1.44
(1.45) (3.40) (-1.19) (1.70) 1962-1996
PO -0.190 0.554 - - 0.451 0.211 - 0.0331 2.20
(-1.49) (7.16) (5.73) (4.30) 1962-1996
SP 0.029 0.467 -0.0006 - 0.497 - - 0.0126 1.02
(0.40) (5.13) (-0.69) (5.60) 1964-1996
NZ 0.002 0.431 - -0.0032 0.548 0.059 - 0.0193 1.33
(4.50) (-2.77) (6.15) (1.68) 1962-1996
SA - 0.855 - - 0.074 0.125 - 0.1607 1.83
(11.43) (1.58) (1.75) 1970-1996
VE -0.278 0.767 - - 0.265 - - 0.0756 1.82
(-0.31) (7.83) (1.64) 1963-1996
CO 0.397 0.627 - - 0.293 0.259 - 0.0151 2.36
(2.23) (6.95) (3.82) (4.81) 1972-1996
JO -2.184 0.356 - - 0.953 0.189 - 0.0540 2.24
(-4.87) (3.88) (7.33) (3.17) 1971-1996
SY 0.626 0.091 - - 0.814 - - 0.0598 1.57
(1.41) (0.79) (7.60) 1965-1996
ID 0.279 - -0.0016 - 0.604 - - 0.0214 2.17
(9.49) (-1.15) (25.74) 1962-1995
MA -0.228 0.660 - - 0.347 0.214 - 0.0339 1.58
(-0.69) (3.99) (2.69) (2.65) 1972-1997
PA 0.118 0.622 - - 0.269 - - 0.0310 1.50
(1.42) (3.50) (1.96) 1976-1997
PH -0.143 0.901 -0.0015 - 0.159 0.115 - 0.0220 1.83
(-0.91) (9.24) (-1.26) (2.37) (1.08) 1962-1997
TH 0.060 0.460 - - 0.448 - - 0.0196 2.00
(2.89) (5.74) (6.87) 1962-1997
CH -0.440 0.287 - - 0.635 - - 0.0258 1.49
(-4.49) (2.15) (5.31) 1983-1997
AR 1.356 - - - 0.805 - - 0.0098 1.71
(2.14) (10.02) 1992-1997
CE - 0.477 - - 0.494 - - 0.0450 1.24
(4.16) (5.30) 1977-1997
ME 0.902 0.071 - - 0.791 - - 0.0223 0.47
(4.99) (0.58) (6.99) 1961-1996
PE - 0.521 - - 0.456 - - 0.0196 1.42
(3.65) (3.38) 1992-1997
|
| Table 6a: Equation 3: Estimates |
Equation 3: logI is the LHS variable
Cty Cnst logI-1 logY RS RB SE DW
Quarterly equations:
CA -0.624 0.878 0.158 - -0.0014~ 0.0230 1.44
(-3.22) (25.03) (3.53) (-1.40) 1966.1-1997.4
JA 0.375 0.918 0.044 - -0.0051 0.0204 1.71
(3.77) (30.89) (1.38) (-4.26) 1967.3-1997.4
AU 0.236 0.871 0.073 - -0.0106 0.0359 2.50
(1.61) (16.86) (1.50) (-2.98) 1971.1-1995.4
FR 0.158 0.968 0.004 -0.0017~ - 0.0137 1.54
(1.83) (35.20) (0.14) (-3.22) 1976.1-1997.4
GE -0.010 0.969 0.029 -0.0030~ - 0.0196 2.24
(-0.16) (38.89) (1.18) (-3.63) 1971.1-1997.4
IT 0.424 0.918 0.039 -0.0016~ - 0.0163 0.89
(2.30) (30.26) (2.38) (-3.79) 1971.1-1997.4
NE -0.213 0.753 0.223 - -0.0076~ 0.0260 2.45
(-1.17) (10.58) (2.97) (-3.03) 1980.1-1997.4
UK 0.049 0.846 0.131 - -0.0039~ 0.0272 2.11
(0.33) (21.46) (3.60) (-3.60) 1966.1-1997.4
AS -0.061 0.931 0.067 -0.0015 - 0.0268 1.68
(-0.44) (17.28) (1.56) (-1.90) 1971.1-1997.4
SO -0.660 0.938 0.123 - -0.0078~ 0.0394 2.34
(-2.05) (48.60) (2.97) (-3.52) 1962.1-1997.4
KO -0.745 0.819 0.234 - - 0.0630 2.27
(-2.47) (15.44) (3.13) 1972.1-1997.4
Cty Cnst logI-1 logY RS RB SE DW
Annual equations:
BE -0.053 0.742 0.238 - -0.0226 0.0521 1.95
(-0.18) (8.13) (2.86) (-4.15) 1962-1996
GR 1.470 0.691 0.108 - - 0.0828 1.55
(2.74) (5.52) (1.23) 1965-1996
IR 0.364 0.786 0.145 - - 0.0774 1.69
(1.19) (10.39) (1.98) 1962-1996
PO -0.723 0.457 0.563 - -0.0105 0.0638 1.21
(-1.97) (3.56) (4.22) (-3.33) 1962-1996
SP 0.018 0.715 0.254 -0.0090 - 0.0611 1.16
(0.04) (6.66) (2.05) (-2.17) 1964-1996
SA -0.453 0.723 0.286 - - 0.1777 1.64
(-0.50) (5.65) (1.22) 1970-1996
VE -1.735 0.593 0.570 -0.0055 - 0.1632 1.14
(-1.49) (4.79) (2.47) (-2.32) 1963-1996
CO -2.269 0.358 0.760 - - 0.0709 1.46
(-2.95) (2.06) (3.65) 1972-1996
JO 0.408 0.850 0.080 - - 0.1658 1.29
(0.44) (6.50) (0.38) 1971-1996
SY -2.810 0.536 0.638 - - 0.2175 1.72
(-2.08) (3.67) (2.87) 1965-1996
ID -2.313 0.526 0.665 - - 0.0404 1.37
(-4.47) (4.76) (4.45) 1962-1996
MA -1.897 0.642 0.493 - - 0.0953 0.75
(-2.28) (4.79) (2.65) 1972-1997
PA -1.224 0.217 0.763 - - 0.0422 0.96
(-3.21) (1.34) (4.45) 1976-1997
TH -1.804 0.455 0.709 - - 0.0675 0.86
(-3.62) (3.55) (4.10) 1962-1997
CH -1.615 0.273 0.832 - - 0.0898 0.96
(-1.85) (0.94) (2.40) 1983-1997
AR - 0.205 0.679 - - 0.0791 2.03
(0.86) (3.39) 1992-1997
PE - 0.783 0.191 - - 0.1327 1.74
(3.09) (0.94) 1992-1997
|
| Table 6a: Equation 4: Estimates |
Equation 4: Y is the LHS variable
Cty Cnst Y-1 X V-1 RHO q a b SE DW
Quarterly equations:
CA -806.98 0.341 0.751 -0.2542 0.916 0.659 0.386 0.363 705.53 2.31
(-0.27) (6.04) (11.79) (-2.97) (16.37) 1966.1-1997.4
JA 312.32 0.121 0.920 -0.0760 0.430 0.879 0.086 0.527 232.65 2.01
(1.98) (4.00) (29.41) (-4.62) (5.05) 1967.3-1997.4
AU -7.52 0.372 0.670 -0.0194 0.250 0.628 0.031 2.173 2.69 1.98
(-0.83) (3.95) (6.15) (-0.60) (2.02) 1971.1-1995.4
GE -3.93 0.143 0.879 -0.0265 0.797 0.857 0.031 0.855 2.58 2.05
(-0.51) (2.88) (15.75) (-0.67) (10.32) 1969.1-1997.4
IT -25854.70 0.468 0.678 -0.1011 0.383 0.532 0.190 1.441 1660.29 2.03
(-2.72) (3.49) (4.33) (-2.98) (3.59) 1971.1-1997.4
NE -1.42 0.530 0.497 -0.0315 - 0.470 0.067 0.854 0.77 1.74
(-1.15) (7.39) (6.97) (-1.89) 1978.2-1997.4
UK -292.42 0.238 0.799 -0.0872 0.595 0.762 0.114 0.430 645.70 2.13
(-0.37) (3.94) (12.39) (-2.44) (6.42) 1966.1-1997.4
AS 532.80 0.261 0.767 -0.0680 0.488 0.739 0.092 0.410 574.89 2.03
(1.11) (3.73) (10.29) (-1.61) (4.11) 1971.1-1997.4
KO 395.90 0.167 0.842 -0.0187 - 0.833 0.022 0.447 405.21 1.63
(3.72) (2.42) (12.32) (-1.49) 1972.1-1997.1
Cty Cnst Y-1 X V-1 RHO q a b SE DW
Annual equations:
DE 2.17 - 1.017 -0.2306 - 1.000 0.231 0.075 3.86 1.32
(0.53) (91.21) (-2.18) 1967-1996
GR 25.93 0.382 0.638 -0.1286 - 0.618 0.208 0.162 143.37 1.41
(0.19) (4.02) (6.54) (-1.92) 1964-1996
IR -198.00 0.281 0.776 -0.1517 - 0.719 0.211 0.380 218.84 1.41
(-1.11) (3.12) (10.66) (-2.25) 1962-1996
PO -78.83 0.325 0.676 -0.0420 - 0.675 0.062 0.014 138.17 1.27
(-0.64) (2.12) (4.07) (-0.74) 1962-1996
SP -549.00 0.076 1.006 -0.3238 - 0.924 0.350 0.253 128.95 1.84
(-2.70) (1.85) (29.19) (-5.06) 1964-1996
CO -812.65 0.231 0.907 -0.2093 - 0.769 0.272 0.658 108.47 1.86
(-2.42) (2.83) (12.01) (-2.90) 1972-1996
PA -24.74 0.079 1.007 -0.2255 - 0.921 0.245 0.379 1.56 0.96
(-5.15) (2.18) (32.05) (-4.69) 1976-1997
CE -361.36 - 1.105 -0.3432 - 1.000 0.343 0.307 103.89 1.31
(-2.60) (35.55) (-2.88) 1977-1997
|
| Table 6a: Equation 5: Estimates |
Equation 5: logPY is the LHS variable
Cty Cnst logPY-1 logW logPM DP T RHO SE DW
Quarterly equations:
CA -0.253 0.886 0.045 0.026 -0.12858~ 0.00035 0.553 0.0050 2.17
(-1.39) (16.12) (1.14) (1.67) (-4.31) (1.60) (6.41) 1966.1-1997.4
JA -0.159 0.922 0.031 0.010 0.00059~ 0.00009 - 0.0069 1.35
(-1.88) (29.60) (1.62) (2.70) (5.93) (1.04) 1967.3-1997.4
AU -0.419 0.771 0.062~ 0.050~ 0.00014 0.00122 -0.368 0.0101 1.94
(-2.78) (10.96) (2.30) (3.03) (0.61) (2.85) (-3.37) 1971.1-1995.4
FR -0.493 0.791 0.130 0.013~ -0.06722~ 0.00017 0.304 0.0042 1.82
(-2.94) (15.33) (3.04) (1.09) (-1.85) (1.20) (2.72) 1976.1-1997.4
GE -0.141 0.929 0.037 0.007~ -0.14982~ -0.00012 - 0.0034 1.84
(-1.47) (23.00) (2.15) (2.22) (-5.98) (-0.93) 1969.1-1997.4
IT -0.200 0.906 0.018 0.038 -0.19232 0.00093 - 0.0053 1.08
(-2.15) (46.92) (0.92) (7.52) (-7.58) (7.71) 1971.1-1997.4
NE -0.787 0.703 0.157 0.036 - 0.00049 - 0.0069 1.97
(-2.29) (9.81) (1.90) (3.01) (1.33) 1978.2-1997.4
ST -0.040 0.937 - - -0.12836~ 0.00035 0.030 0.0050 1.96
(-0.84) (24.00) (-4.84) (1.12) (0.21) 1981.1-1996.4
UK -0.474 0.839 0.155 0.044~ -0.24804~ -0.00135 - 0.0083 1.53
(-5.16) (37.51) (6.31) (5.77) (-5.18) (-6.59) 1966.1-1997.4
FI -0.681 0.800 0.188~ 0.015 -0.12375 -0.00107 - 0.0078 1.90
(-2.66) (11.91) (2.83) (1.69) (-3.56) (-3.15) 1976.1-1997.3
AS -0.250 0.914 0.067 0.024~ 0.00053~ -0.00038 - 0.0095 2.29
(-1.69) (27.10) (1.83) (1.95) (4.76) (-1.67) 1971.1-1997.4
SO -0.137 0.928 - 0.039~ - 0.00104 - 0.0178 2.18
(-3.56) (72.41) (3.82) (4.32) 1962.1-1997.4
KO -0.567 0.621 0.179~ 0.135 - -0.00153 0.409 0.0138 1.94
(-4.64) (8.58) (4.71) (4.33) (-2.25) (2.85) 1972.1-1997.4
Cty Cnst logPY-1 logW logPM DP T RHO SE DW
Annual equations:
BE -0.201 0.794 - 0.091 0.00213~ 0.00697 - 0.0102 1.68
(-3.57) (17.74) (4.86) (11.51) (3.93) 1961-1996
DE -1.100 0.614 0.251 0.075 0.00031~ -0.00133 - 0.0072 2.19
(-8.71) (14.85) (9.51) (4.24) (1.75) (-1.12) 1967-1996
NO -0.502 0.645 0.073 0.174 -0.38706~ 0.00724 - 0.0229 1.23
(-1.79) (6.05) (0.88) (2.28) (-2.37) (1.25) 1962-1996
SW -0.374 0.861 0.135 0.083 0.00130~ -0.00708 - 0.0135 1.89
(-1.04) (11.69) (1.38) (3.60) (2.85) (-1.66) 1965-1996
GR -0.576 0.759 0.192 0.068 0.00294~ -0.00676 - 0.0205 2.19
(-2.73) (35.06) (2.77) (1.21) (4.66) (-1.27) 1964-1996
IR -1.660 0.522 0.430 0.015~ -0.08702~ -0.00943 - 0.0202 1.61
(-7.61) (5.88) (10.18) (0.28) (-0.64) (-3.39) 1962-1996
PO -0.013 0.800 - 0.215 -0.23402~ 0.00479 - 0.0201 1.73
(-0.10) (21.71) (10.63) (-2.54) (1.44) 1962-1996
SP -0.838 0.695 0.216 0.042~ -0.38413~ -0.00295 - 0.0124 1.85
(-8.47) (20.47) (13.78) (2.00) (-4.33) (-1.16) 1964-1996
NZ -1.089 0.634 0.245 0.127~ -0.15117~ -0.00007 - 0.0277 1.47
(-4.19) (11.39) (3.81) (2.72) (-1.00) (-0.02) 1962-1996
CO -3.069 0.389 - 0.147~ -0.36273~ 0.10345 - 0.0173 2.43
(-4.49) (4.01) (4.66) (-2.04) (4.85) 1972-1996
JO -0.151 0.634 - 0.269 -0.14109~ 0.00821 - 0.0378 1.62
(-0.80) (5.72) (4.30) (-1.74) (1.32) 1971-1996
SY -0.339 0.863 - 0.055 - 0.01350 - 0.0721 1.41
(-0.88) (11.17) (1.02) (1.16) 1965-1996
MA -0.529 0.366 - 0.227 -0.40316 0.01898 - 0.0330 1.78
(-4.02) (2.78) (3.51) (-2.85) (4.47) 1972-1997
PA 0.401 0.904 - 0.191 - -0.00968 - 0.0257 1.19
(1.19) (7.63) (2.26) (-0.90) 1976-1997
PH -0.237 0.735 - 0.167 - 0.01030 - 0.0532 1.58
(-0.91) (10.70) (5.12) (1.28) 1962-1997
TH -0.524 0.274 - 0.315 -0.18704 0.01822 - 0.0239 1.45
(-5.23) (3.26) (8.36) (-1.89) (6.00) 1962-1997
CH -0.891 0.683 - - -0.38730 0.03173 - 0.0429 1.05
(-2.50) (5.05) (-1.32) (2.77) 1983-1997
AR 0.421 0.460 - 0.282 - - - 0.0104 3.02
(3.41) (7.98) (1.26) 1992-1997
|
| Table 6a: Equation 6: Estimates |
Equation 6: log[M1/(POP*PY)] is the LHS variable
Cty Cnst LHS-1 log[M1-1/ RS logY/POP RHO SE DW
(POP-1*PY)]
Quarterly equations:
CA -0.790 - 0.914 -0.0052 0.110 - 0.0257 2.17
(-4.67) (51.21) (-4.63) (5.00) 1968.1-1997.4
JA -0.100 0.943 - -0.0056 0.020 - 0.0205 2.32
(-0.63) (43.82) (-6.61) (0.83) 1967.3-1997.4
AU 0.130 - 0.950 -0.0029 0.017 0.250 0.0214 2.03
(1.55) (19.59) (-1.80) (0.49) (2.22) 1971.1-1995.4
GE -0.011 - 0.957 -0.0029 0.057 0.391 0.0114 2.01
(-0.20) (39.78) (-3.71) (1.25) (3.65) 1969.1-1997.4
IT 0.302 - 0.859 -0.0004 - - 0.0169 1.24
(6.48) (36.42) (-0.90) 1971.1-1997.4
ST 0.338 - 0.842 -0.0085 0.049 - 0.0240 2.20
(1.14) (19.34) (-4.13) (0.47) 1981.1-1996.4
FI -0.633 - 0.892 -0.0041 0.177 -0.270 0.0309 2.16
(-2.30) (32.50) (-3.67) (3.50) (-2.79) 1976.1-1997.4
AS -0.704 - 0.888 -0.0063 0.195 - 0.0230 1.89
(-3.73) (38.95) (-5.56) (4.91) 1971.1-1997.4
SO -0.015 - 0.984 - 0.021 - 0.0417 1.72
(-0.02) (32.36) (0.30) 1967.1-1997.4
KO -0.062 - 0.834 - 0.152 - 0.0605 2.23
(-0.45) (14.02) (2.27) 1972.1-1997.4
Cty Cnst LHS-1 log[M1-1/ RS logY/POP RHO SE DW
(POP-1*PY)]
Annual equations:
BE 1.721 0.603 - -0.0079 0.040 - 0.0417 1.96
(3.39) (5.43) (-2.42) (1.15) 1961-1996
DE -1.181 - 0.662 -0.0097 0.514 - 0.0532 2.38
(-2.54) (7.99) (-2.60) (3.44) 1967-1996
SW 1.316 - 0.663 -0.0003 0.033 - 0.0385 1.66
(3.15) (3.24) (-0.11) (0.17) 1971-1996
IR 0.011 0.898 - -0.0138 0.097 - 0.0552 1.85
(0.02) (11.05) (-4.59) (3.38) 1962-1996
PO 0.636 0.674 - -0.0104 0.197 - 0.0554 1.82
(2.15) (9.68) (-5.31) (4.12) 1962-1996
SP -0.239 0.749 - -0.0084 0.255 - 0.0538 1.01
(-0.77) (7.89) (-3.01) (2.43) 1964-1996
VE -2.869 0.652 - -0.0049 0.819 - 0.1527 2.24
(-1.69) (6.59) (-2.95) (2.18) 1963-1996
ID -0.909 0.562 - -0.0016 0.525 - 0.0505 1.63
(-3.64) (4.18) (-0.49) (3.84) 1962-1996
PA -0.820 - 0.281 -0.0153 0.746 - 0.0484 1.69
(-2.69) (1.58) (-2.22) (3.47) 1976-1997
PH -0.356 - 0.764 -0.0075 0.230 - 0.0741 2.16
(-1.51) (7.44) (-2.04) (2.46) 1962-1997
|
| Table 6a: Equation 7: Estimates |
Equation 7: RS is the LHS variable
Cty Cnst RS-1 PCPY ZZ JJS S/(PY*YS) GERS USRS RHO SE DW
Quarterly equations:
CA -0.65 0.680 - -7.0 - -21.3~ - 0.44 - 0.840 1.77
(-2.24)(15.21) (-1.61) (-3.27) (8.08) 1972.2-1997.4
JA -0.01 0.827 0.110 -11.7 - - - 0.11 0.345 0.657 2.02
(-0.03)(17.43) (4.86)(-1.67) (2.42) (3.10)1972.2-1997.4
AU 0.83 0.783 - -13.2 - -8.1~ 0.06 0.06 - 0.749 1.76
(2.46) (9.80) (-2.08) (-1.95) (0.75) (1.60) 1972.2-1995.4
FR 0.48 0.625 0.091 - - -26.1~ 0.24 0.13 - 0.844 1.70
(1.17) (9.72) (2.62) (-2.12) (4.25) (2.72) 1976.1-1997.4
GE -0.11 0.757 0.181 -22.1 - - - 0.21 - 0.758 1.99
(-0.43)(18.54) (3.64)(-5.95) (5.76) 1972.2-1997.4
IT-39.60 0.675 0.155 - 42.3 -29.5~ - - 0.258 1.044 1.98
(-2.39)(12.12) (4.74) (2.51)(-3.80) (2.23)1972.2-1997.4
NE 1.55 0.341 - -23.6 - -24.3~ 0.49 0.13 - 0.815 1.81
(3.30) (3.54) (-3.73) (-4.36) (5.56) (3.10) 1978.2-1997.4
ST 0.67 0.904 - -13.6 - -9.5~ - - - 0.806 1.66
(2.11)(17.72) (-1.75) (-1.88) 1981.1-1996.4
UK-26.49 0.735 0.016 - 27.0 -7.1~ - 0.30 - 1.017 1.55
(-2.70)(14.10) (0.91) (2.75)(-0.83) (4.78) 1972.2-1997.4
FI 0.45 0.831 - - - -17.1~ - 0.15 - 1.010 1.74
(1.04)(17.72) (-3.33) (3.36) 1976.1-1997.4
AS -0.10 0.823 0.061 -12.4 - -23.8~ - 0.12 - 1.109 1.92
(-0.23)(17.43) (2.01)(-1.88) (-2.49) (2.17) 1972.2-1997.4
SO 0.10 0.909 - - - - - 0.14 0.619 0.867 2.04
(0.10)(14.29) (1.70) (5.22)1972.2-1997.4
Cty Cnst RS-1 PCPY ZZ JJS S/(PY*YS) GERS USRS RHO SE DW
Annual equations:
BE 2.68 0.139 - - - -29.9 0.67 - - 1.228 2.77
(2.41) (1.04) (-3.71) (6.08) 1972-1996
DE 1.05 0.459 - - - -46.0 0.62 - - 2.345 2.43
(0.55) (2.92) (-2.55) (2.90) 1972-1996
NO -1.06 0.799 - - - -12.1 0.23 0.22 - 1.705 2.34
(-0.64) (6.79) (-1.61) (1.30) (1.50) 1972-1996
SW 1.23 0.643 - -32.7 - -71.3 - 0.35 - 1.698 2.41
(0.85) (5.12) (-1.10) (-3.10) (2.44) 1972-1996
IR 6.64 - 0.071 - - -33.8 0.18 0.22 - 1.867 2.29
(3.33) (0.83) (-1.71) (1.02) (0.74) 1973-1996
PO -0.57 0.777 0.309 -31.8 - -11.1 - - - 2.849 1.83
(-0.34) (7.22) (3.05)(-1.69) (-0.63) 1972-1996
SP 3.31 0.466 0.131 - - -8.7 - 0.26 - 3.122 2.34
(1.26) (2.24) (1.03) (-0.24) (0.86) 1972-1996
NZ 0.01 0.688 0.175 - - -35.9 - - - 2.501 1.79
(6.24) (1.94) (-2.80) 1972-1996
VE 1.93 0.776 0.174 - - -28.1 - - - 9.480 2.10
(0.66) (6.67) (1.95) (-1.15) 1972-1996
ID 2.64 0.525 0.216 - - -57.7 - - - 2.791 1.72
(1.03) (2.85) (1.58) (-1.32) 1972-1996
PA 1.03 0.597 0.139 - - -34.4 - - - 1.164 2.74
(0.71) (3.78) (1.47) (-1.93) 1976-1997
PH -0.50 0.763 0.171 - - -29.3 - 0.19 - 2.816 1.55
(-0.16) (5.51) (2.85) (-1.46) (0.81) 1972-1997
|
| Table 6a: Equation 8: Estimates |
Equation 8: RB - RS-2 is the LHS variable
Cty Cnst RB-1-RS-2 RS-RS-2 RS-1-RS-2 RHO SE DW
Quarterly equations:
CA 0.098 0.920 0.328 -0.264 - 0.4285 2.04
(2.09) (36.21) (4.79) (-3.02) 1962.1-1997.4
JA 0.012 0.899 0.484 -0.537 - 0.4084 2.17
(0.30) (26.76) (5.17) (-3.78) 1967.3-1997.4
AU 0.085 0.931 0.271 -0.125 0.420 0.2627 1.98
(1.28) (28.24) (5.46) (-2.53) (3.94) 1971.1-1995.4
FR 0.053 0.891 0.283 -0.112 0.371 0.4374 2.02
(0.58) (11.82) (3.15) (-1.36) (2.85) 1976.1-1997.4
GE 0.064 0.944 0.304 -0.253 - 0.4207 1.70
(1.17) (33.48) (4.20) (-2.73) 1969.1-1997.4
IT -0.067 0.749 0.374 -0.213 0.468 0.5793 2.00
(-0.63) (10.59) (5.97) (-2.83) (3.99) 1971.1-1997.4
NE 0.068 0.930 0.249 -0.133 - 0.4173 1.81
(1.07) (27.19) (4.20) (-1.98) 1978.2-1997.4
ST 0.015 0.965 0.166 -0.083 0.304 0.2828 1.87
(0.25) (30.51) (2.82) (-1.21) (2.26) 1981.1-1996.4
UK 0.054 0.953 0.456 -0.489 - 0.5194 1.61
(0.99) (40.75) (5.33) (-4.37) 1966.1-1997.4
AS 0.054 0.941 0.304 -0.231 - 0.5444 1.78
(0.86) (27.95) (4.10) (-2.62) 1971.1-1997.4
SO 0.121 0.963 0.479 -0.698 - 0.5251 1.74
(1.97) (46.55) (4.76) (-4.38) 1962.1-1997.4
Cty Cnst RB-1-RS-2 RS-RS-2 RS-1-RS-2 RHO SE DW
Annual equations:
BE 0.552 0.761 0.396 - - 0.7680 1.58
(1.96) (6.77) (5.23) 1961-1996
DE 0.336 0.752 0.430 - - 1.4022 1.70
(1.01) (5.38) (4.04) 1967-1996
NO 0.022 0.869 0.443 - - 0.6988 1.72
(0.19) (7.64) (5.26) 1962-1996
SW 0.100 1.000 0.294 - - 0.8607 2.49
(0.55) (8.03) (3.17) 1965-1994
IR 0.476 0.558 0.459 - - 1.1861 1.52
(2.05) (4.71) (5.98) 1962-1996
PO 0.154 0.720 0.420 - - 1.4811 1.72
(0.61) (6.30) (4.68) 1962-1996
NZ -0.227 0.745 0.385 - - 1.0473 2.38
(-1.01) (6.27) (4.90) 1962-1996
PA 0.738 0.600 0.250 - - 1.3078 1.84
(2.26) (3.54) (1.04) 1976-1997
|
| Table 6a: Equation 9: Estimates |
Equation 9: log(E/E-1) or log(H/H-1) is the LHS variable
Cty Cnst log(p/E-1) log r log s-1 RHO SE DW
or or or
log(p`/H-1) log r` log s`-1)
Quarterly equations:
CA 0.011 0.027 -0.435 - 0.297 0.0155 2.00
(1.58) (1.05) (-0.77) (2.92) 1972.2-1997.4
JA -0.082 0.048 -2.900 -0.880 0.216 0.0466 1.93
(-1.65) (1.73) (-2.93) (-3.91) (2.02) 1972.2-1997.4
AU 0.088 0.050 - - - 0.0056 0.93
(152.07) 1972.2-1995.4
FR 0.178 0.290 -0.367 - 0.542 0.0160 2.27
(1.33) (1.35) (-0.25) (1.73) 1976.1-1997.4
GE -0.402 0.064 -2.430 -0.489 0.245 0.0486 1.98
(-1.52) (1.54) (-2.16) (-2.29) (2.23) 1972.2-1997.4
IT 0.353 0.050 - -0.077 - 0.0358 1.33
(91.93) (-0.65) 1972.2-1997.4
NE 0.003 0.050 -0.595 - - 0.0048 1.46
(5.02) (-2.83) 1978.2-1997.4
ST -0.049 0.260 -0.541 - - 0.0181 1.60
(-3.60) (3.77) (-1.12) 1981.1-1996.4
UK 0.313 0.050 -1.504 -0.233 - 0.0447 1.52
(41.68) (-1.90) (-1.56) 1972.2-1997.4
FI 1.789 0.221 -2.912 - 0.679 0.0310 2.23
(1.25) (1.24) (-1.15) (3.15) 1976.1-1997.4
AS 0.009 0.073 - -0.473 0.214 0.0389 2.03
(0.54) (1.28) (-1.49) (1.22) 1972.2-1997.4
SO 0.080 0.050 - -0.336 - 0.0602 1.77
(9.54) (-1.95) 1981.1-1997.4
Cty Cnst log(p/E-1) log r log s-1 RHO SE DW
or or or
log(p`/H-1) log r` log s`-1)
Annual equations:
BE 0.519 0.170 - -0.133 - 0.0304 1.42
(1.70) (1.64) (-0.89) 1972-1996
DE 0.515 0.371 - - - 0.0236 1.39
(3.68) (3.51) 1972-1996
NO 0.131 0.082 - -0.161 - 0.0490 1.58
(1.29) (1.05) (-0.96) 1972-1996
SW 0.339 0.232 -1.285 -0.552 - 0.0724 1.81
(1.74) (1.55) (-0.56) (-0.65) 1972-1996
GR 1.277 0.274 - -1.055 - 0.0486 1.88
(2.56) (2.44) (-2.74) 1972-1996
IR 0.564 0.088 - -0.110 - 0.0594 1.08
(0.71) (0.66) (-0.37) 1972-1996
PO 1.189 0.258 - -1.465 - 0.0764 0.94
(1.39) (1.32) (-3.56) 1972-1996
SP 0.786 0.172 - - - 0.0737 1.32
(1.24) (1.15) 1972-1996
NZ 0.049 0.108 -3.496 -1.492 - 0.0809 1.23
(0.59) (0.69) (-1.98) (-3.60) 1972-1996
VE -1.849 0.625 - -1.637 - 0.1950 1.42
(-2.60) (3.23) (-1.88) 1984-1996
JO -0.053 0.103 - - - 0.1011 1.09
(-0.69) (1.09) 1972-1996
PH -1.108 0.293 - - - 0.0925 0.86
(-1.78) (1.87) 1972-1997
|
| Table 6a: Equation 10: Estimates |
Equation 10: logF is the LHS variable
Cty logEE log r RHO SE DW
Quarterly equations:
CA 0.9824 1.766 0.793 0.0096 2.28
( 49.24) (3.69) (11.64) 1972.2-1997.3
JA 1.0009 1.247 0.389 0.0095 1.78
(1020.65) (5.94) (4.23) 1972.2-1997.4
AU 1.0003 1.117 0.224 0.0060 2.09
(5280.75) (8.75) (2.16) 1972.2-1995.4
FR 1.0008 1.128 - 0.0056 2.09
(5025.28) (7.01) 1976.1-1989.3
GE 1.0004 1.148 0.622 0.0032 2.19
(7309.50) (11.83) (7.98) 1972.2-1997.4
IT 0.9972 1.095 - 0.0100 2.01
(221.67) (8.94) 1978.1-1997.4
NE 0.9999 1.612 - 0.0099 2.05
(3268.23) (4.75) 1978.2-1990.4
ST 1.0001 0.855 - 0.0037 1.62
(11485.37) (18.11) 1981.1-1996.4
UK 1.0014 1.279 0.398 0.0061 1.95
(367.20) (5.53) (2.76) 1972.2-1984.4
FI 0.9982 1.396 0.694 0.0071 2.71
(398.74) (4.80) (7.25) 1976.1-1989.3
AS 1.0075 1.169 - 0.0044 2.40
(360.34) (17.21) 1977.1-1997.4
|
| Table 6a: Equation 11: Estimates |
Equation 11: logPX - log[PW$*(E/E90)] is the LHS variable
Cty Cnst logPY RHO1 RHO2 SE DW
-log[PW$*(E/E90)]
Quarterly equations:
CA - 0.710 1.333 -0.341 0.0136 2.17
(15.31) (16.84) (-4.33) 1962.1-1997.4
JA - 0.445 1.321 -0.335 0.0151 1.90
(12.84) (14.54) (-3.76) 1969.1-1997.4
AU - 0.623 0.803 0.205 0.0260 2.05
(8.29) (7.84) (1.97) 1971.1-1995.4
FR - 0.700 1.145 -0.141 0.0116 1.94
(16.14) (10.65) (-1.30) 1976.1-1997.4
GE - 0.822 1.233 -0.246 0.0080 1.97
(36.37) (13.39) (-2.68) 1969.1-1997.4
IT - 0.580 0.936 0.039 0.0174 1.98
(12.03) (9.54) (0.39) 1971.1-1997.4
NE - 0.594 1.279 -0.285 0.0182 2.03
(8.93) (11.76) (-2.57) 1978.2-1997.4
ST - 0.833 0.699 0.341 0.0102 1.98
(15.62) (3.74) (1.75) 1989.3-1996.4
UK - 0.687 1.097 -0.110 0.0156 1.99
(18.78) (12.26) (-1.23) 1966.1-1997.4
FI - 0.589 0.970 -0.069 0.0165 2.01
(12.65) (8.84) (-0.64) 1976.1-1997.4
AS - 0.536 1.233 -0.252 0.0193 2.01
(10.81) (11.61) (-2.38) 1976.1-1997.4
SO - 0.707 0.811 0.167 0.0317 2.03
(12.04) (9.84) (2.06) 1962.1-1997.4
KO - 0.553 1.162 -0.203 0.0220 1.99
(10.28) (11.42) (-2.02) 1972.1-1997.4
Cty Cnst logPY RHO1 RHO2 SE DW
-log[PW$*(E/E90)]
Annual equations:
BE - 0.400 0.824 0.079 0.0222 2.01
(7.32) (4.63) (0.47) 1962-1996
DE - 0.597 1.110 -0.210 0.0190 1.70
(10.89) (6.01) (-1.25) 1967-1996
NO - 0.588 1.267 -0.386 0.0762 1.87
(1.34) (6.40) (-1.87) 1975-1996
SW - 0.461 1.146 -0.587 0.0315 1.77
(7.92) (6.42) (-3.32) 1969-1996
GR 0.030 - 0.638 -0.149 0.0513 1.93
(1.68) (3.48) (-0.81) 1965-1996
IR - 0.503 1.149 -0.201 0.0256 1.97
(7.26) (6.49) (-1.18) 1962-1996
PO - 0.112 1.177 -0.211 0.0334 1.98
(1.23) (6.78) (-1.23) 1962-1996
SP - 0.482 1.160 -0.223 0.0382 1.81
(4.89) (6.67) (-1.36) 1964-1996
NZ - 0.584 0.929 -0.039 0.0778 1.95
(2.90) (5.24) (-0.23) 1962-1996
CO - 1.000 1.107 -0.220 0.1401 1.92
(5.33) (-1.02) 1972-1996
JO - 0.443 0.879 -0.391 0.0495 2.15
(7.57) (4.67) (-2.16) 1971-1996
SY - 1.000 1.255 -0.283 0.1805 2.09
(7.14) (-1.63) 1965-1996
ID - 0.314 1.202 -0.209 0.0513 1.78
(1.38) (6.02) (-1.05) 1970-1996
MA - 1.000 0.947 -0.089 0.1217 1.92
(4.65) (-0.43) 1972-1997
PA - 0.696 0.734 -0.222 0.0502 2.04
(8.06) (3.16) (-1.04) 1977-1997
PH - 0.323 0.967 -0.032 0.1050 1.96
(1.49) (5.37) (-0.18) 1964-1997
TH - 0.685 1.029 -0.224 0.0696 1.76
(2.53) (5.81) (-1.26) 1962-1997
CH 0.061 - 0.996 -0.297 0.0469 2.05
(1.37) (3.60) (-1.08) 1984-1997
AR 0.071 - - - 0.0481 0.99
(3.63) 1992-1997
CE 0.078 - 1.111 -0.439 0.0481 2.18
(2.35) (5.06) (-1.98) 1978-1997
ME 0.075 - 1.125 -0.432 0.0378 2.11
(3.57) (7.05) (-2.66) 1962-1996
PE -0.064 - - - 0.1367 0.48
(-1.04) 1993-1997
|
| Table 6a: Equation 12: Estimates |
Equation 12: logW is the LHS variable
Cty Cnst logW-1 logPY DW T RHO logPY-1 SE DW
Quarterly equations:
CA 0.166 0.963 1.032 - 0.00005 - -0.993 0.0078 1.59
(1.63)(41.60) (14.56) (0.74) 1966.1-1997.4
JA 0.239 0.942 0.756 - 0.00021 - -0.710 0.0074 1.95
(4.00)(61.05) (7.38) (2.70) 1971.1-1997.4
AU 0.235 0.935 0.900 - 0.00036 -0.700 -0.852 0.0184 1.93
(1.37)(25.10) (4.73) (1.52) (-9.21) 1971.1-1995.4
FR 0.403 0.896 1.359 - -0.00002 - -1.222 0.0082 1.69
(2.13)(17.73) (5.53) (-0.26) 1976.1-1997.4
GE 0.045 0.992 0.434 -0.10015~ 0.00001 -0.337 -0.445 0.0116 2.18
(0.44)(36.21) (0.99) (-1.31) (0.10) (-3.71) 1969.1-1997.4
IT 0.454 0.914 1.270 - -0.00037 - -1.162 0.0121 1.63
(2.30)(23.88) (8.25) (-2.07) 1971.1-1997.4
NE 1.623 0.606 0.146 - 0.00123 0.466 0.129 0.0056 2.07
(3.96) (6.53) (1.26) (8.99) (3.33) 1978.2-1997.4
UK 0.312 0.922 0.802 - 0.00034 - -0.725 0.0149 2.42
(1.89)(21.60) (6.73) (1.77) 1966.1-1997.4
FI 0.411 0.901 0.327 0.00036~ 0.00030 -0.272 -0.236 0.0098 1.91
(1.97)(17.15) (1.20) (2.56) (1.33) (-2.14) 1976.1-1997.3
AS 0.412 0.904 0.619 - 0.00025 - -0.531 0.0117 2.08
(2.41)(22.74) (4.05) (2.67) 1971.1-1997.4
KO 0.441 0.809 1.120 -0.42078~ 0.00315 - -0.900 0.0300 2.17
(3.81)(16.69) (12.66) (-4.64) (3.63) 1972.1-1997.4
Cty Cnst logW-1 logPY DW T RHO logPY-1 SE DW
Annual equations:
DE 0.094 0.966 0.773 0.00126~ 0.00188 - -0.780 0.0137 2.30
(0.23)(10.35) (5.10) (3.93) (2.01) 1967-1996
NO 0.631 0.798 0.657 -0.40249 0.01149 - -0.577 0.0288 0.80
(1.75) (8.40) (4.54) (-2.37) (2.85) 1962-1996
SW 1.516 0.661 0.254 0.00237 0.00210 - 0.082 0.0209 2.30
(3.69) (6.97) (1.52) (4.23) (2.64) 1965-1996
GR -0.013 1.019 0.867 - -0.00134 - -0.893 0.0399 1.41
(-0.05)(14.45) (4.26) (-0.58) 1964-1996
IR 0.165 0.965 0.955 - 0.00052 - -0.924 0.0272 1.86
(0.27) (6.12) (5.39) (0.15) 1962-1996
SP -0.001 1.031 0.935 -0.46540~ -0.00298 - -0.973 0.0205 2.02
(13.41) (4.28) (-3.30) (-2.38) 1964-1996
NZ 0.356 0.910 0.861 0.00155 0.00155 - -0.794 0.0304 1.14
(0.88)(11.11) (7.64) (1.98) (0.92) 1962-1996
|
| Table 6a: Equation 13: Estimates |
Equation 13: log(J/J-1) is the LHS variable
Cty Cnst T log(J/JMIN) logY/Y-1 logY-1/Y-2 RHO SE DW
-1
Quarterly equations:
CA 0.006 -0.00003 -0.147 0.429 0.168 - 0.0048 1.97
(2.86) (-2.15) (-4.32) (5.64) (2.86) 1966.1-1997.4
JA - 0.00002 -0.093 0.216 - - 0.0039 2.33
(-0.13) (1.49) (-4.05) (4.29) 1967.3-1997.4
AU -0.007 0.00006 -0.029 0.135 0.169 - 0.0061 2.30
(-2.06) (2.31) (-0.91) (1.66) (2.96) 1971.1-1995.4
FR 0.008 -0.00005 -0.074 0.505 - - 0.0103 1.49
(1.11) (-1.07) (-1.48) (1.50) 1977.1-1997.4
GE 0.002 -0.00001 -0.130 0.110 - 0.520 0.0035 1.84
(0.67) (-0.28) (-2.88) (1.66) (5.83) 1969.1-1997.4
IT 0.003 -0.00001 -0.124 0.049 - - 0.0058 2.22
(1.08) (-0.49) (-3.92) (0.56) 1971.1-1997.4
UK 0.004 - -0.196 0.150 - 0.508 0.0029 2.08
(1.89) (0.03) (-6.74) (4.01) (6.15) 1966.1-1997.4
FI 0.027 -0.00018 -0.218 0.249 0.107 - 0.0052 1.73
(5.02) (-5.50) (-5.91) (5.40) (2.36) 1977.1-1996.4
AS 0.012 -0.00005 -0.253 0.116 - 0.331 0.0050 2.07
(3.24) (-1.84) (-4.81) (1.95) (3.26) 1971.1-1997.4
Cty Cnst T log(J/JMIN) logY/Y-1 logY-1/Y-2 RHO SE DW
-1
Annual equations:
BE -0.013 0.00031 -0.122 0.317 - - 0.0078 1.06
(-2.46) (1.69) (-0.96) (3.85) 1961-1992
DE 0.011 -0.00030 -0.644 0.417 - - 0.0134 1.43
(1.16) (-0.98) (-4.04) (3.19) 1967-1996
NO -0.007 0.00028 -0.269 0.444 - - 0.0137 0.86
(-0.83) (1.07) (-2.31) (2.93) 1962-1996
SW 0.007 -0.00044 -0.186 0.504 - - 0.0118 0.71
(0.78) (-1.46) (-1.37) (3.88) 1969-1996
IR -0.022 0.00080 -0.289 0.373 - - 0.0113 1.63
(-4.30) (3.74) (-3.95) (4.67) 1962-1996
|
| Table 6a: Equation 14: Estimates |
Equation 14: log(L1/POP1) is the LHS variable
Cty Cnst T LHS-1 logW/PY Z RHO SE DW
Quarterly equations:
CA -0.141 -0.00014 0.948 0.032 0.067 - 0.0043 2.00
(-2.86) (-3.03) (42.69) (2.73) (2.24) 1966.1-1997.4
JA -0.009 -0.00005 0.935 - 0.159 - 0.0028 2.16
(-1.49) (-2.27) (26.62) (1.49) 1967.3-1997.4
AU -0.177 -0.00044 0.529 0.019 0.288 - 0.0035 2.02
(-3.93) (-5.08) (6.46) (1.83) (4.21) 1971.1-1995.4
FR -0.141 -0.00008 0.920 0.028 0.115 - 0.0090 1.41
(-1.16) (-0.85) (24.05) (0.93) (2.11) 1977.1-1997.4
GE -0.030 0.00001 0.947 - 0.078 - 0.0028 1.83
(-3.85) (0.58) (65.00) (2.85) 1969.1-1997.4
IT -0.015 -0.00011 0.927 - 0.070 - 0.0040 1.86
(-1.80) (-2.25) (26.82) (1.18) 1971.1-1997.4
UK 0.022 - 0.907 - 0.054 - 0.0024 1.49
(3.17) (-0.33) (32.37) (2.39) 1966.1-1997.4
FI -0.028 -0.00023 0.823 - 0.088 - 0.0047 2.38
(-3.29) (-3.42) (16.59) (3.42) 1977.1-1996.4
AS -0.021 -0.00019 0.824 - 0.041 - 0.0034 2.21
(-4.15) (-3.26) (17.06) (2.08) 1971.1-1997.4
Annual equations:
BE -0.076 -0.00244 0.689 - 0.156 - 0.0059 2.12
(-2.74) (-2.62) (5.79) (1.90) 1961-1992
|
| Table 6a: Equation 15: Estimates |
Equation 15: log(L2/POP2) is the LHS variable
Cty Cnst T LHS-1 logW/PY Z RHO SE DW
Quarterly equations:
CA -0.210 -0.00018 0.987 0.050 0.050 - 0.0063 2.10
(-1.88) (-2.83) (64.77) (2.10) (1.15) 1967.1-1997.4
IT -0.755 0.00055 0.692 0.071 0.357 - 0.0109 2.08
(-4.53) (3.84) (10.04) (3.75) (1.73) 1971.1-1997.4
ST -0.098 0.00030 0.916 - 0.210 - 0.0061 1.61
(-2.00) (1.92) (24.17) (2.34) 1981.1-1996.4
FI -0.032 -0.00007 0.922 - 0.069 - 0.0049 2.53
(-2.14) (-2.90) (32.17) (2.53) 1977.1-1996.4
AS -0.128 0.00035 0.886 - 0.092 - 0.0080 1.74
(-2.68) (2.72) (21.27) (1.97) 1971.1-1997.4
Annual equations:
BE -0.151 0.00164 0.874 - 0.027 - 0.0079 2.00
(-1.40) (1.68) (10.24) (0.23) 1961-1992
DE -0.281 0.00013 0.854 0.046 0.098 - 0.0132 1.64
(-0.81) (0.09) (7.76) (0.63) (0.59) 1967-1996
|
| Table 6b: Equation 1: Tests |
Equation 1: log(M/POP) is the LHS variable
Lags pe logPY RHO+ T Leads Stability
p-val p-val p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.183 0.030 0.051 0.265 0.409 0.859 8.25 6 8.635
JA 0.069 0.017 0.850 0.475 0.019 0.157 5.57 6 7.584
AU 0.266 - 0.001 0.168 0.080 0.198 5.22 5 4.314
FR 0.708 0.206 0.659 0.111 0.274 0.459 6.88 6 2.916
GE 0.004 - 0.016 0.060 0.001 0.941 - - -
IT 0.012 0.003 0.000 0.000 0.548 0.347 13.13 6 5.397
NE 0.942 0.255 0.308 0.140 0.513 0.435 13.85 6 2.047
ST 0.791 0.434 - 0.140 0.822 0.830 7.70 4 1.000
UK 0.029 0.728 0.231 0.476 0.988 0.209 10.04 6 8.635
FI 0.394 0.691 0.707 0.588 0.850 0.822 5.41 6 2.916
AS 0.668 0.779 0.410 0.408 0.725 0.023 6.09 6 5.397
SO 0.001 0.011 0.076 0.001 0.106 0.033 95.62 6 11.770
KO 0.021 - 0.052 0.001 0.540 0.270 7.11 4 4.840
Annual equations:
BE 0.385 0.540 0.437 0.320 0.542 0.000 3.44 4 5.898
DE 0.273 - 0.111 0.372 0.000 0.005 12.23 5 3.449
NO 0.058 - - 0.683 0.984 0.832 16.50 3 5.444
SW 0.310 0.058 - 0.633 0.238 0.845 12.51 5 4.193
GR 0.876 - - 0.974 0.092 0.966 4.57 3 4.592
IR 0.632 - 0.577 0.022 0.902 0.641 13.33 5 5.444
PO 0.102 0.000 - 0.856 0.007 0.084 19.75 4 5.444
SP 0.002 - 0.923 0.338 0.284 0.114 7.43 5 4.592
NZ 0.728 0.279 0.309 0.388 0.231 0.975 3.37 5 5.444
SA 0.535 - - 0.262 0.012 0.666 11.78 4 2.469
VE 0.644 - 0.085 0.450 0.109 0.794 3.72 5 5.009
CO 0.235 - - 0.710 0.457 0.939 0.95 4 1.907
JO 0.006 - - 0.215 0.102 0.064 4.18 4 2.179
SY 0.027 - 0.000 0.019 0.000 0.058 16.28 4 4.193
ID 0.900 0.006 0.802 0.576 0.528 0.468 10.36 6 5.009
MA 0.001 - 0.034 0.001 0.169 0.881 13.10 5 2.179
PA 0.104 - 0.763 0.421 0.855 0.766 11.90 4 1.200
PH 0.389 0.611 0.000 0.000 0.000 0.084 48.23 5 5.898
TH 0.021 - 0.618 0.112 0.893 0.629 6.15 5 5.898
CH 0.083 - - - 0.518 0.986 - - -
CE 0.009 - - 0.761 0.037 0.713 1.04 3 1.000
ME 0.096 - - 0.422 0.133 0.867 7.65 4 5.898
|
| Table 6b: Equation 2: Tests |
Equation 2: log(C/POP) is the LHS variable
Lags pe RHO+ T Leads Stability
p-val p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.002 0.844 0.020 0.974 0.001 20.14 5 8.635
JA 0.000 0.087 0.000 0.498 0.008 34.43 5 2.223
AU 0.000 0.010 0.000 0.177 0.435 5.78 4 4.314
FR 0.000 0.231 0.131 0.264 0.406 9.68 4 2.916
GE 0.001 0.574 0.132 0.349 0.023 - - -
IT 0.001 0.020 0.002 0.229 0.129 4.64 5 5.397
NE 0.105 0.064 0.069 0.029 0.622 8.47 4 2.047
ST 0.012 0.410 0.003 0.072 0.281 3.51 5 1.000
UK 0.000 0.659 0.025 0.212 0.492 4.88 5 8.635
FI 0.260 0.283 0.001 0.397 0.116 7.08 5 2.916
AS 0.462 0.466 0.044 0.008 0.233 5.85 5 5.397
SO 0.114 0.003 0.204 0.226 0.556 97.00 4 11.770
KO 0.403 0.597 0.002 0.500 0.191 16.16 6 4.840
Annual equations:
BE 0.310 - 0.831 0.381 0.580 2.97 3 5.898
DE 0.012 0.818 0.004 0.064 0.543 5.52 5 3.449
NO 0.182 - 0.403 0.001 0.824 4.36 3 5.444
SW 0.562 0.931 0.549 0.804 0.617 3.25 5 4.193
GR 0.332 - 0.230 0.000 0.170 16.65 4 4.592
IR 0.023 0.292 0.331 0.332 0.103 32.27 4 5.444
PO 0.981 0.635 0.640 0.368 0.206 2.42 4 5.444
SP 0.003 0.002 0.004 0.000 0.417 19.11 4 4.592
NZ 0.206 0.993 0.057 0.457 0.271 11.69 5 5.444
SA 0.080 - 0.643 0.098 0.554 1.75 3 2.469
VE 0.000 - 0.926 0.019 0.332 9.11 3 5.009
CO 0.391 - 0.084 0.160 0.135 1.74 4 1.000
JO 0.289 - 0.409 0.454 0.089 4.93 4 2.179
SY 0.013 - 0.231 0.068 0.417 2.71 3 4.193
ID 0.227 0.943 0.157 0.785 0.814 1.12 3 5.009
MA 0.221 - 0.500 0.167 0.861 8.63 4 2.179
PA 0.059 - 0.185 0.845 0.482 16.77 3 1.200
PH 0.243 0.212 0.709 0.001 0.289 8.68 5 5.898
TH 0.866 - 0.943 0.865 0.137 2.67 3 5.898
CH 0.496 - - 0.015 0.003 - - -
CE 0.012 - 0.154 0.000 0.066 6.42 3 1.000
ME 0.000 - 0.000 0.069 0.231 16.93 3 5.898
|
| Table 6b: Equation 3: Tests |
Equation 3: logI is the LHS variable
Lags pe RHO+ T Leads Stability
p-val p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.000 0.195 0.095 0.025 0.008 4.70 4 8.635
JA 0.000 0.013 0.000 0.095 0.010 19.09 4 7.415
AU 0.000 0.651 0.000 0.353 0.423 27.55 4 4.314
FR 0.029 0.087 0.001 0.000 0.009 14.12 4 2.916
GE 0.000 - 0.218 0.507 0.029 - - -
IT 0.000 0.000 0.000 0.000 0.030 9.27 4 5.397
NE 0.003 0.814 0.067 0.006 0.034 2.37 4 1.477
UK 0.018 0.900 0.139 0.000 0.185 5.34 4 8.635
AS 0.099 0.742 0.027 0.065 0.193 9.78 4 5.397
SO 0.103 0.254 0.328 0.001 0.047 96.72 4 11.770
KO 0.147 - 0.315 0.316 0.210 9.60 3 4.840
Annual equations:
BE 0.011 0.071 0.906 0.019 0.515 8.00 4 5.444
GR 0.000 - 0.477 0.639 0.072 3.45 3 3.650
IR 0.773 - 0.989 0.033 0.655 6.16 3 4.592
PO 0.001 0.865 0.018 0.039 0.867 4.19 4 5.444
SP 0.000 0.056 0.000 0.809 0.093 8.78 4 4.592
SA 0.237 - 0.894 0.096 0.440 1.29 3 2.469
VE 0.000 0.000 0.019 0.000 0.641 14.14 4 5.009
CO 0.021 - 0.001 0.398 0.598 0.09 3 1.907
JO 0.000 - 0.008 0.677 0.239 9.32 3 2.179
SY 0.001 - 0.005 0.000 0.624 24.08 3 4.193
ID 0.045 - 0.075 0.542 0.910 19.40 3 5.444
MA 0.000 - 0.000 0.000 0.520 6.38 3 2.179
PA 0.007 - 0.637 0.996 0.041 6.12 3 1.200
TH 0.000 - 0.000 0.000 0.179 3.08 3 5.898
CH 0.000 - - 0.030 0.035 - - -
|
| Table 6b: Equation 4: Tests |
Equation 4: Y is the LHS variable
Lags RHO+ T Leads Stability
p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.082 0.148 0.876 0.006 13.24 5 8.635
JA 0.256 0.263 0.024 0.138 16.39 5 7.584
AU 0.593 0.212 0.862 0.448 3.56 5 4.314
GE 0.249 0.734 0.177 0.199 - - -
IT 0.052 0.150 0.033 0.000 10.94 5 5.397
NE 0.327 0.339 0.090 0.266 15.56 4 2.047
UK 0.012 0.168 0.945 0.001 11.74 5 8.635
AS 0.155 0.194 0.003 0.229 5.51 5 5.397
KO 0.079 0.209 0.089 0.444 3.38 4 4.442
Annual equations:
DE 0.073 0.143 0.107 0.594 1.97 3 3.449
GR 0.048 0.102 0.511 0.608 10.74 4 4.592
IR 0.177 0.153 0.006 0.521 4.07 4 4.592
PO 0.009 0.006 0.974 0.024 10.12 4 5.444
SP 0.888 0.720 0.598 0.667 4.93 4 3.812
CO 0.943 0.065 0.177 0.021 6.25 4 1.907
PA 0.174 0.102 0.005 0.469 14.83 4 1.200
CE 0.074 0.186 0.050 0.603 25.67 3 1.000
|
| Table 6b: Equation 5: Tests |
Equation 5: logPY is the LHS variable
Lags-1 Lags-2 RHO+ Leads Stability
p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 9.900 9.900 0.419 0.511 14.86 7 8.635
JA 0.000 0.000 0.000 0.000 61.64 6 7.584
AU 0.444 0.821 0.080 0.692 3.28 7 4.314
FR 0.074 0.028 0.377 0.000 9.62 7 2.916
GE 0.042 0.023 0.006 0.416 - - -
IT 0.000 0.000 0.000 0.000 16.61 6 5.397
NE 0.994 0.269 0.042 0.192 10.78 5 2.047
ST 0.320 0.430 0.047 - 2.92 5 1.000
UK 0.012 0.034 0.043 0.001 18.82 6 8.635
FI 0.805 0.824 0.731 0.373 9.15 6 2.812
AS 0.001 0.002 0.097 0.011 17.69 6 5.397
SO 0.369 0.142 0.101 - 96.72 4 11.770
KO 0.896 0.712 0.332 0.713 4.61 6 4.840
Annual equations:
BE 0.000 0.000 0.800 - 12.06 5 5.898
DE 0.159 0.094 0.081 0.075 4.40 6 3.104
NO 0.008 0.000 0.007 0.155 17.99 6 5.444
SW 0.977 0.657 0.468 0.168 5.23 6 4.193
GR 0.463 0.253 0.930 0.081 8.28 6 4.592
IR 0.717 0.072 0.304 0.121 6.73 6 5.009
PO 0.851 0.031 0.934 - 15.10 5 5.444
SP 0.701 0.316 0.220 0.526 19.51 6 3.812
NZ 0.000 0.002 0.280 0.066 12.45 6 5.444
CO 0.223 0.047 0.015 - 2.60 5 1.907
JO 0.609 0.636 0.648 - 12.30 5 2.179
SY 0.022 0.095 0.042 - 13.91 4 4.193
MA 0.056 0.000 0.234 - 15.84 5 2.179
PA 0.074 0.111 0.220 - 15.81 4 1.200
PH 0.001 0.002 0.006 - 44.38 4 5.898
TH 0.382 0.000 0.002 - 5.70 5 5.898
CH 0.014 - - - - - -
|
| Table 6b: Equation 6: Tests |
Equation 6: log(M1/(POP*PY)) is the LHS variable
N vs R Lags RHO+ T Stability
p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.450 0.442 0.006 0.536 7.28 4 7.249
JA 0.043 0.047 0.009 0.245 5.35 4 7.584
AU 0.673 0.826 0.706 0.010 9.05 5 4.314
GE 0.263 0.062 0.003 0.000 - - -
IT 0.000 0.139 0.000 0.000 20.13 3 5.397
ST 0.581 0.264 0.352 0.226 1.90 4 1.000
FI 0.034 0.769 0.007 0.007 6.91 5 2.916
AS 0.199 0.831 0.379 0.125 8.66 4 5.397
SO 0.779 0.341 0.193 0.002 4.99 3 7.926
KO 0.301 0.562 0.321 0.030 2.10 3 4.840
Annual equations:
BE 0.156 0.307 0.571 0.001 7.73 4 3.449
DE 0.008 0.584 0.113 0.142 4.77 4 3.449
SW 0.473 0.089 0.151 0.055 1.51 4 2.179
IR 0.263 0.015 0.524 0.018 3.00 4 5.444
PO 0.737 0.380 0.285 0.003 5.14 4 5.444
SP 0.301 0.000 0.001 0.111 6.81 4 4.592
VE 0.853 0.449 0.017 0.007 13.95 4 5.009
ID 0.224 0.238 0.355 0.181 12.77 4 5.444
PA 0.926 0.432 0.931 0.120 2.22 4 1.200
PH 0.359 0.109 0.534 0.233 5.25 4 5.898
|
| Table 6b: Equation 7: Tests |
Equation 7: RS is the LHS variable
Lags RHO+ T Stability
p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.001 0.004 0.218 7.62 5 4.706
JA 0.138 0.106 0.848 9.36 6 4.706
AU 0.133 0.031 0.823 23.93 6 3.698
FR 0.022 0.122 0.031 5.60 6 2.916
GE 0.299 0.003 0.040 7.32 5 4.706
IT 0.203 0.033 0.026 5.36 6 4.706
NE 0.389 0.000 0.016 5.01 6 2.047
ST 0.117 0.029 0.889 8.55 4 1.000
UK 0.038 0.145 0.033 4.40 6 4.706
FI 0.281 0.437 0.780 3.83 4 2.916
AS 0.576 0.309 0.082 7.69 6 4.706
SO 0.041 0.168 0.010 13.87 4 4.706
Annual equations:
BE 0.087 0.031 0.677 2.47 4 1.907
DE 0.051 0.679 0.997 0.81 4 1.907
NO 0.504 0.060 0.564 2.81 5 1.907
SW 0.339 0.081 0.119 6.52 5 1.907
IR 0.689 0.277 0.743 4.97 5 1.653
PO 0.598 0.255 0.014 7.69 5 1.907
SP 0.373 0.433 0.194 5.76 5 1.907
NZ 0.177 0.093 0.014 10.63 4 1.907
VE 0.880 0.937 0.282 0.75 4 1.907
ID 0.790 0.598 0.822 4.77 4 1.907
PA 0.178 0.003 0.707 1.46 4 1.200
PH 0.132 0.674 0.160 15.00 5 1.621
|
| Table 6b: Equation 8: Tests |
Equation 8: RB - RB-2 is the LHS variable
Restr Lags RHO+ T Leads Stability
p-val p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.016 0.042 0.225 0.208 0.021 3.16 4 11.770
JA 0.212 0.532 0.342 0.992 0.398 3.34 4 7.584
AU 0.355 0.093 0.108 0.056 0.397 2.09 5 4.314
FR 0.266 0.401 0.580 0.516 0.487 7.05 5 2.916
GE 0.091 0.011 0.130 0.274 0.131 5.52 4 6.601
IT 0.884 0.577 0.719 0.733 0.771 14.23 5 5.397
NE 0.250 0.219 0.028 0.850 0.338 1.96 4 2.047
ST 0.002 0.004 0.041 0.322 0.887 10.92 5 1.000
UK 0.792 0.515 0.175 0.014 0.524 5.92 4 8.635
AS 0.086 0.119 0.101 0.065 0.102 8.95 4 5.397
SO 0.154 0.122 0.069 0.320 0.186 96.72 4 11.770
Annual equations:
BE 0.087 0.039 0.330 0.006 0.906 6.36 3 5.898
DE 0.760 0.738 0.665 0.005 0.733 8.78 3 3.449
NO 0.073 0.071 0.755 0.038 0.676 4.85 3 5.444
SW 0.065 0.501 0.024 0.317 0.299 3.77 3 3.449
IR 0.803 0.529 0.087 0.069 0.969 5.65 3 5.444
PO 0.001 0.001 0.620 0.015 0.251 3.88 3 5.444
NZ 0.198 0.000 0.002 0.496 0.433 2.35 3 4.176
PA 0.511 0.832 0.946 0.053 0.119 2.01 3 1.200
|
| Table 6b: Equation 9: Tests |
Equation 9: logE or logH is the LHS variable
Restr Lags RHO+ T Stability
p-val p-val p-val p-val AP (df) q
Quarterly equations:
CA 0.714 0.076 0.022 0.198 1.80 4 4.706
JA 0.395 0.773 0.538 0.928 3.71 5 4.706
AU 0.000 0.238 0.000 0.000 20.76 1 3.698
FR 0.096 0.300 0.008 0.973 5.70 4 2.916
GE 0.046 0.191 0.147 0.149 5.63 5 4.706
IT 0.000 0.031 0.041 0.000 8.34 2 4.706
NE 0.425 0.852 0.054 0.009 5.55 2 2.047
ST 0.247 0.011 0.185 0.548 1.00 3 1.000
UK 0.001 0.077 0.138 0.001 4.58 3 4.706
FI 0.212 0.709 0.641 0.492 0.31 4 2.916
AS 0.355 0.179 0.331 0.340 2.00 4 4.706
SO 0.290 0.611 0.111 0.291 1.41 2 1.193
Annual equations:
BE 0.305 0.153 0.337 0.638 1.43 3 1.621
DE 0.031 0.151 0.658 0.040 5.07 2 1.907
NO 0.427 0.286 0.045 0.166 6.27 3 1.907
SW 0.521 0.576 0.123 0.302 1.45 4 1.907
GR 0.115 0.332 0.909 0.116 2.23 3 1.907
IR 0.000 0.008 0.006 0.000 10.34 3 1.907
PO 0.051 0.000 0.000 0.036 2.39 3 1.907
SP 0.010 0.087 0.042 0.024 3.09 2 1.907
NZ 0.256 0.000 0.011 0.567 2.15 4 1.907
VE 0.077 0.939 0.364 0.075 - - -
JO 0.042 0.012 0.000 0.029 2.17 2 1.907
PH 0.538 0.001 0.000 0.580 4.65 2 2.179
|
| Table 6b: Equation 11: Tests |
| Table 6b: Equation 12: Tests |
| Table 6b: Equation 13: Tests |
| Table 6b: Equation 14: Tests |
| Table 6b: Equation 15: Tests |