Dependent variable |
Regressors |
Cointegration* |
Dependent variable |
Regressors |
Cointegration* |
||
MXWHIM |
= |
WRWHRP |
|
MXBMIM |
= |
WRBMRP |
|
|
|
0.65 |
-0.46 |
|
|
1.00 |
-0.63 |
|
|
2.63 |
-3.29 |
|
|
2.85 |
-3.81 |
|
|
|
|
|
|
|
|
MXWHEX |
= |
WRWHRP |
|
MXBMEX |
= |
WRBMRP |
|
|
|
1.18 |
-0.86 |
|
|
0.89 |
-0.57 |
|
|
3.39 |
-4.33 |
|
|
3.77 |
-2.90 |
|
|
|
|
|
|
|
|
MXWHPF |
= |
WRWHRP |
|
MXBMPF |
= |
WRBMRP |
|
|
|
0.35 |
-1.01 |
|
|
1.35 |
-0.94 |
|
|
2.24 |
-3.01 |
|
|
3.57 |
-4.12 |
|
|
|
|
|
|
|
|
MXMZIM |
= |
WRMZRP |
|
MXPMIM |
= |
WRPMRP |
|
|
|
0.41 |
-0.71 |
|
|
0.79 |
-0.75 |
|
|
1.74 |
-3.33 |
|
|
4.47 |
-3.88 |
|
|
|
|
|
|
|
|
MXMZEX |
= |
WRMZRP |
|
MXPMEX |
= |
WRPMRP |
|
|
|
0.94 |
-0.33 |
|
|
0.32 |
-0.55 |
|
|
0.53 |
-2.01 |
|
|
0.89 |
-2.87 |
|
|
|
|
|
|
|
|
MXMZPF |
= |
WRMZRP |
|
MXPMPF |
= |
WRPMRP |
|
|
|
0.72 |
-0.71 |
|
|
0.77 |
-0.89 |
|
|
2.01 |
-2.25 |
|
|
3.01 |
-2.62 |
|
|
|
|
|
|
|
|
MXSHPF |
= |
WRSHRP |
|
MXPLIM |
= |
WRPLRP |
|
|
|
1.55 |
-0.33 |
|
|
0.41 |
-1.32 |
|
|
2.28 |
-1.84 |
|
|
2.12 |
-5.26 |
|
|
|
|
|
|
|
|
MXSYIM |
= |
WRSYRP |
|
MXPLPF |
= |
WRPLRP |
|
|
|
0.67 |
-0.69 |
|
|
1.26 |
-0.53 |
|
|
3.34 |
-3.60 |
|
|
1.29 |
-2.11 |
|
|
|
|
|
|
|
|
MXSYPF |
= |
WRSYRP |
|
MXMPIM |
= |
WRMPRP |
|
|
|
1.07 |
0.05 |
|
|
0.80 |
-0.30 |
|
|
2.01 |
0.10 |
|
|
1.28 |
-2.12 |
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