The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 4 Full information estimate of ARDL model (2, 1, 2)
From: A time preference measure of the social discount rate for Iran
Variable | Coefficient | Standard error | T-statistics |
|---|---|---|---|
Panel A: Estimated long-run coefficients (Dep. var. lnF t ) | |||
lnYt | 0.524 | 0.098 | 5.330 [0.000] |
\({ \ln }\left( {{\raise0.7ex\hbox{$P$} \!\mathord{\left/ {\vphantom {P {P^{*} }}}\right.\kern-0pt} \!\lower0.7ex\hbox{${P^{*} }$}}} \right)_{t}\) | − 0.265 | 0.096 | − 2.766 [0.013] |
Dum | 0.333 | 0.047 | 7.003 [0.000] |
Constant | 6.905 | 1.704 | 4.052 [0.001] |
Panel B: Estimated short-run coefficients (Dep. var. \(\Delta \ln F_{t}\) ) | |||
\(\Delta \ln F_{t - 1}\) | − 0.291 | 0.175 | − 1.662 [0.113] |
\(\Delta \ln Y_{t}\) | 0.298 | 0.084 | 3.524 [0.002] |
\(\Delta \ln \left( {p/q} \right)_{t}\) | − 0.091 | 0.045 | − 2.013 [0.058] |
\(\Delta \ln \left( {p/q} \right)_{t - 1}\) | 0.073 | 0.031 | 2.314 [0.032] |
Dum | 0.151 | 0.042 | 3.545 [0.002] |
ECTt−1 | − 0.453 | 0.122 | − 3.701 [0.002] |
Panel C: Diagnostic tests | |||
Serial correlation (χ2) | 0.029 [0.863] | ||
RESET (χ2) | 1.463 [0.226] | ||
Normality (χ2) | 0.227 [0.893] | ||
Heteroscedasticity (χ2) | 1.823 [0.177] | ||