The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 5 Panel ARDL mean group (PARDL-MG) estimations—downstreamness (2000–2014 and 2007–2009).
From: Monetary shocks and production network in the G7 countries
Downstreamness | Period: 2000–2014 | Period: 2007–2009 | ||
|---|---|---|---|---|
ir1 | ir2 | ir1 | ir2 | |
Short-run parameters | ||||
\({\text{down}}^{{\text{total}}}\) | − 0.009 | − 0.011 | 0.223 | − 0.103 |
\({\text{down}}^{{\text{construction}}}\) | 0.187 | 0.212 | − 0.278 | 0.188* |
\({\text{down}}^{{\text{fin}}}\) | − 0.098 | − 0.042 | − 0.045 | 0.008 |
\({\text{down}}^{{\text{ins}}}\) | − 0.043 | − 0.022 | − 0.021 | 0.062 |
\({\text{down}}^{{\text{estate}}}\) | − 0.223* | − 0.077 | − 0.199* | 0.155 |
ECT | ||||
Φj | − 0.227* | − 0.287 | − 0.445* | − 0.327* |
Long-run parameters | ||||
\({\text{down}}^{{\text{total}}}\) | 0.492* | 0.324 | 0.988* | − 0.078 |
\({\text{down}}^{{\text{construction}}}\) | − 0.302 | − 0.278 | − 1.025* | − 0.167 |
\({\text{down}}^{{\text{fin}}}\) | 0.007 | 0.188 | − 0.255* | 0.176 |
\({\text{down}}^{{\text{ins}}}\) | 0.0006 | 0.103 | − 0.988* | 0.148 |
\({\text{down}}^{{\text{estate}}}\) | − 0.883* | − 0.244 | − 0.805* | 1.229* |
Constant | 0.055 | − 0.156 | 0.669 | − 0.327 |