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Table 30. Indonesia. ECM model with dummy variables for positive residuals of the static model


Dependent variable

Regressors

sample: Jan 1979 - May 2001

dISCFWS

dISCFWS1

dISCFWS3

dWRCFRP

dDCF

ecm(-1)


-0.21

0.19

0.36

0.25

-0.21


-3.22

3.19

3.36

7.16

-4.69

dISRI1WS

dDRI

ecm(-1)





0.13

-0.21





8.06

-5.32




see Table 1 for variables' names
source: own calculation on ESCB price data


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