Table 5 Short-run coefficients with non-linear tax share

ECT

− 0.8242303 (0.0717583)^a

− 0.7888876 (0.0821668)^a

− 0.7800174 (0.0681541)^a

∆Gross investment

0.1592222 (0.4921129)

0.2745088 (0.5302855)

0.2811591 (0.6630748)

ΔProperty tax

− 2.116106 (4.713266)

∆Property square

0.5686091 (1.021535)

∆Commodity and service tax

318.9759 (907.5429)

∆Commodity and service tax square

35.24699 (101.3654)

∆Income tax

− 0.8561427 (0.4653239)^c

∆Income tax square

− 0.3051065 (0.3196064)

ΔTotal tax

− 0.4890089 (0.1418758)^a

− 0.5220011 (0.1608558)^a

− 0.3763829 (0.0905942)^a

Constant

1.762391 (0.181032)^a

259.262 (27.01652)

− 0.2664172 (0.0755352)^a