The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
Table 6 Panel ARDL mean group (PARDL-MG) estimations—upstreamness (2000–2014 and 2007–2009) based on median impact of the shock in monetary policy.
From: Monetary shocks and production network in the G7 countries
Upstreamness | Period: 2000–2014 | Period: 2007–2009 | ||
|---|---|---|---|---|
ir1′ | ir2′ | ir1′ | ir2′ | |
Short-run parameters | ||||
\({\text{up}}^{{\text{total}}}\) | 0.287* | 0.343* | 0.166 | 0.039 |
\({\text{up}}^{{\text{construction}}}\) | − 0.035 | − 0.033 | 0.255 | − 0.310 |
\({\text{up}}^{{\text{fin}}}\) | − 0.055 | 0.366 | − 0.187* | − 0.995 |
\({\text{up}}^{{\text{ins}}}\) | − 0.009 | 0.061 | − 0.098 | − 0.055 |
\({\text{up}}^{{\text{estate}}}\) | − 0.230 | − 0.615* | 0.133 | 0.083 |
ECT | ||||
Φj | − 0.211* | − 0.403* | − 0.539 | − 0.633 |
Long-run parameters | ||||
\({\text{up}}^{{\text{total}}}\) | 0.694* | 0.703* | 0.521 | 0.799 |
\({\text{up}}^{{\text{construction}}}\) | − 0.807 | − 0.905* | − 0.707 | − 0.455 |
\({\text{up}}^{{\text{fin}}}\) | − 0.074 | 0.211 | − 0.422* | 0.502 |
\({\text{up}}^{{\text{ins}}}\) | − 0.03 | − 0.209 | − 0.092 | − 0.207 |
\({\text{up}}^{{\text{estate}}}\) | − 1.603* | − 2.511* | − 0.544 | 1.998 |
Constant | 0.765* | − 0.679 | 1.574 | 2.766 |