The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 4 Long-run coefficients of FMOLS estimator and cointegration test
Long-run coefficients of FMOLS estimator | Cointegration test-Hansen parameter instability | |||
|---|---|---|---|---|
Variable | Coefficient | t-statistic | ||
lnY | 2.0696 | 4.2055*** | Lc Statistic | 0.7968 |
lnYsqr | − 0.2140 | − 4.5117*** | Stochastic trends (m) | 6 |
lnA | 0.1430 | 4.2789*** | Deterministic trends (k) | 1 |
lnIm | − 0.1340 | − 4.4898*** | Excluded trends (p2) | 0 |
lnIn | − 0.0283 | − 0.5113 | Prob. | 0.1351 |
lnU | 4.6541 | 6.8229*** | Â | Â |
constant | − 16.883 | − 5.9252*** | H0: series are cointegrated |  |
@TREND | − 0.1124 | − 7.6433*** |  |  |
R-squared | 0.9923 | Â | Â | Long-run variance 0.0022 |