Dependent variable |
Regressors |
Cointegration* |
Dependent variable |
Regressors |
Cointegration* |
||
ISBMIM |
= |
WRBMRP |
|
ISMZPF |
= |
WRMZRP |
|
|
|
2.22 |
-1.29 |
|
|
1.17 |
-0.86 |
|
|
3.23 |
-4.78 |
|
|
8.71 |
-4.92 |
|
|
|
|
|
|
|
|
ISBMPF |
= |
WRBMRP |
|
ISCSPR |
= |
WRCSRP |
|
|
|
1.63 |
-0.36 |
|
|
0.65 |
-1.12 |
|
|
1.44 |
-2.46 |
|
|
2.92 |
-3.73 |
|
|
|
|
|
|
|
|
ISPMIM |
= |
WRPMRP |
|
ISCSPF |
= |
WRCSRP |
|
|
|
1.25 |
-0.61 |
|
|
1.14 |
-0.85 |
|
|
1.87 |
-3.44 |
|
|
3.41 |
-3.98 |
|
|
|
|
|
|
|
|
ISPMPF |
= |
WRPMRP |
|
ISSYIM |
= |
WRSYRP |
|
|
|
3.18 |
-0.46 |
|
|
1.51 |
-0.47 |
|
|
3.56 |
-2.65 |
|
|
1.40 |
-3.12 |
|
|
|
|
|
|
|
|
ISPLIM |
= |
WRPLRP |
|
ISSYEX |
= |
WRSYRP |
|
|
|
0.65 |
-0.37 |
|
|
3.58 |
-0.42 |
|
|
0.75 |
-1.90 |
|
|
2.07 |
-2.24 |
|
|
|
|
|
|
|
|
ISPLPF |
= |
WRPLRP |
|
ISSYPR |
= |
WRSYRP |
|
|
|
2.53 |
-0.35 |
|
|
0.04 |
-0.59 |
|
|
2.63 |
-2.11 |
|
|
0.06 |
-1.95 |
|
|
|
|
|
|
|
|
ISRIIM |
= |
WRRIRP |
|
ISSYPF |
= |
WRSYRP |
|
|
|
0.80 |
-0.78 |
|
|
1.23 |
-0.81 |
|
|
6.72 |
-4.67 |
|
|
8.32 |
-4.81 |
|
|
|
|
|
|
|
|
ISRIPF |
= |
WRRIRP |
|
ISMPIM |
= |
WRMPRP |
|
|
|
1.13 |
-0.51 |
|
|
1.00 |
-0.47 |
|
|
4.86 |
-3.03 |
|
|
2.60 |
-2.70 |
|
|
|
|
|
|
|
|
ISMZIM |
= |
WRMZRP |
|
|
|
|
|
|
|
0.86 |
-0.99 |
|
|
|
|
|
|
7.73 |
-5.57 |
|
|
|
|
see Table 1 for variables' names
* figures reported are the ADF coefficients and t values for the level of the residual of the static regression between the two variables reported on the left. This corresponds to the Engle and Granger (1987) test for cointegration