The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 3 Long-run NARDL estimates
From: Non-linear impact of exchange rate changes on U.S. industrial production
IPIs for sectors | NEG | POS | Ln(CPI) | Ln(GFCF) | Ln(M2) | Ln(L) |
|---|---|---|---|---|---|---|
Non-energy materials (5, 0, 4, 6, 1, 1, 0) | \(\begin{array}{l}0.44^{**} \\ (0.20)\end{array}\) | \(\begin{array}{l}0.53^{***} \\ (0.17)\end{array}\) | \(\begin{array}{l}2.47^{***} \\ (0.83)\end{array}\) | \(\begin{array}{l}0.36^{***} \\ (0.12)\end{array}\) | \(\begin{array}{l}-1.02^{***} \\ (0.3)\end{array}\) | \(\begin{array}{l}0.54 \\ (1.03)\end{array}\) |
Non-durable manufacturing (4, 0, 4, 6, 1, 0, 0) | \(\begin{array}{l}-0.06 \\ (0.10)\end{array}\) | \(\begin{array}{l}0.02 \\ (0.08)\end{array}\) | \(\begin{array}{l}-0.68 \\ (0.43)\end{array}\) | \(\begin{array}{l}0.32 \\ (0.06)\end{array}\) | \(\begin{array}{l}-0.17 \\ (0.14)\end{array}\) | \(\begin{array}{l}0.96^{*} \\ (0.52)\end{array}\) |
Mining (3, 0, 0, 3, 4, 0, 0) | \(\begin{array}{l}0.22 \\ (0.44)\end{array}\) | \(\begin{array}{l}-0.03 \\ (0.34)\end{array}\) | \(\begin{array}{l}3.98^{**} \\ (1.91)\end{array}\) | \(\begin{array}{l}0.18 \\ (1.91)\end{array}\) | \(\begin{array}{l}-0.16 \\ (0.64)\end{array}\) | \(\begin{array}{l}-7.18^{***} \\ (2.30)\end{array}\) |
Energy materials (3, 0, 0, 1, 4, 0, 0) | \(\begin{array}{l}-0.02 \\ (0.27)\end{array}\) | \(\begin{array}{l}-0.09 \\ (0.21)\end{array}\) | \(\begin{array}{l}0.84 \\ (0.99)\end{array}\) | \(\begin{array}{l}0.20 \\ (0.17)\end{array}\) | \(\begin{array}{l}0.45 \\ (0.36)\end{array}\) | \(\begin{array}{l}-4.37^{***} \\ (1.43)\end{array}\) |
Electricity (1, 3, 3, 0, 2) | \(\begin{array}{l}-0.14 \\ (0.10)\end{array}\) | \(\begin{array}{l}-0.08 \\ (0.07)\end{array}\) | \(\begin{array}{l}-0.72^{*} \\ (0.42)\end{array}\) | \(\begin{array}{l} 0.06\\ (0.05) \end{array}\) | \(\begin{array}{l}-0.03 \\ (0.12)\end{array}\) | \(\begin{array}{l}3.002 \\ (0.55)\end{array}\) |
Durable manufacturing (4, 0, 4, 2, 2, 0) | \(\begin{array}{l}0.06 \\ (0.35)\end{array}\) | \(\begin{array}{l}0.85^{^{***}} \\ (0.32)\end{array}\) | \(\begin{array}{l}1.91 \\ (1.25)\end{array}\) | \(\begin{array}{l}0.40^{*} \\ (0.22)\end{array}\) | \(\begin{array}{l}-1.57^{***} \\ (0.56)\end{array}\) | \(\begin{array}{l}1.89 \\ (1.83)\end{array}\) |
Consumer goods (2, 5, 1, 0, 5, 0, 1) | \(\begin{array}{l}0.26^{***} \\ (0.07)\end{array}\) | \(\begin{array}{l}0.04 \\ (0.05) \end{array}\) | \(\begin{array}{l}-0.04 \\ (0.27)\end{array}\) | \(\begin{array}{l}0.29^{***}\\ (0.04)\end{array}\) | \(\begin{array}{l}-0.03 \\ (0.09)\end{array}\) | \(\begin{array}{l}0.93^{**} \\ (0.42)\end{array}\) |
Business equipments (1, 3, 0, 0, 5, 0, 0) | \(\begin{array}{l}-1.77^{**} \\ (0.87)\end{array}\) | \(\begin{array}{l}0.76\\ (0.42)\end{array}\) | \(\begin{array}{l}-2.42 \\ (2.88)\end{array}\) | \(\begin{array}{l}0.68^{*} \\ (0.35)\end{array}\) | \(\begin{array}{l}-2.58^{***} \\ (0.79)\end{array}\) | \(\begin{array}{l}7.65\\ (4.70)\end{array}\) |