Equivalencia Ricardiana: un análisis para la economía uruguaya (página 6)

 Vector Error Correction Estimates

 Sample (adjusted): 1989Q3 2006Q4

 Included observations: 70 after adjustments

 Standard errors in ( ) & t-statistics in [ ]

Cointegration Restrictions: 

      B(1,1)=1, B(1,2)=-B(1,3) , B(1,4)=0

Convergence achieved after 9 iterations.

Restrictions identify all cointegrating vectors

LR test for binding restrictions (rank = 1): 

Chi-square(2)

 16.25058

Probability

 0.000296

Cointegrating Eq: 

CointEq1

CP(-1)

 1.000000

YP(-1)

-0.976170

 (0.02779)

[-35.1240]

TP(-1)

 0.976170

 (0.02779)

[ 35.1240]

DP(-1)

 0.000000

Error Correction:

D(CP)

D(YP)

D(TP)

D(DP)

CointEq1

-0.137121

-0.115903

-0.032629

 0.027245

 (0.08614)

 (0.06588)

 (0.01568)

 (0.02857)

[-1.59180]

[-1.75936]

[-2.08083]

[ 0.95369]

D(CP(-1))

-0.643901

-0.011911

 0.013915

-0.018338

 (0.22320)

 (0.17069)

 (0.04063)

 (0.07402)

[-2.88490]

[-0.06978]

[ 0.34249]

[-0.24775]

D(CP(-2))

-0.519270

-0.249523

-0.018227

 0.047205

 (0.24791)

 (0.18959)

 (0.04513)

 (0.08222)

[-2.09456]

[-1.31610]

[-0.40389]

[ 0.57415]

D(CP(-3))

-0.322484

-0.183952

 0.017635

 0.033229

 (0.25314)

 (0.19359)

 (0.04608)

 (0.08395)

[-1.27396]

[-0.95023]

[ 0.38272]

[ 0.39583]

D(CP(-4))

 0.216986

-0.112107

-0.011278

 0.124258

 (0.23586)

 (0.18037)

 (0.04293)

 (0.07822)

[ 0.92000]

[-0.62153]

[-0.26270]

[ 1.58863]

D(CP(-5))

-0.015832

 0.019449

 0.019357

 0.060546

 (0.21948)

 (0.16785)

 (0.03995)

 (0.07279)

[-0.07214]

[ 0.11588]

[ 0.48451]

[ 0.83185]

D(YP(-1))

 0.567303

-0.188929

-0.027578

 0.127387

 (0.29457)

 (0.22528)

 (0.05362)

 (0.09769)

[ 1.92586]

[-0.83866]

[-0.51431]

[ 1.30400]

D(YP(-2))

 0.600022

 0.541411

 0.120426

-0.158135

 (0.33847)

 (0.25885)

 (0.06161)

 (0.11225)

[ 1.77272]

[ 2.09159]

[ 1.95454]

[-1.40879]

D(YP(-3))

 0.263300

 0.158716

-0.010551

 0.040455

 (0.35509)

 (0.27156)

 (0.06464)

 (0.11776)

[ 0.74149]

[ 0.58446]

[-0.16322]

[ 0.34353]

D(YP(-4))

-0.685195

-0.039006

 0.062742

-0.228783

 (0.33070)

 (0.25291)

 (0.06020)

 (0.10967)

[-2.07193]

[-0.15423]

[ 1.04225]

[-2.08607]

D(YP(-5))

-0.001121

-0.239179

-0.029431

-0.020583

 (0.34745)

 (0.26571)

 (0.06325)

 (0.11522)

[-0.00323]

[-0.90014]

[-0.46534]

[-0.17863]

D(TP(-1))

 0.711166

 0.529097

-0.306904

-0.276297

 (0.74893)

 (0.57275)

 (0.13633)

 (0.24837)

[ 0.94957]

[ 0.92378]

[-2.25118]

[-1.11244]

D(TP(-2))

 1.138866

 0.875275

-0.417779

-0.045895

 (0.83100)

 (0.63551)

 (0.15127)

 (0.27559)

[ 1.37048]

[ 1.37728]

[-2.76183]

[-0.16654]

D(TP(-3))

 1.013857

 0.676577

-0.327976

 0.058199

 (0.84982)

 (0.64991)

 (0.15470)

 (0.28183)

[ 1.19302]

[ 1.04103]

[-2.12014]

[ 0.20651]

D(TP(-4))

 0.778030

 0.664096

-0.156727

 0.422436

 (0.81151)

 (0.62061)

 (0.14772)

 (0.26912)

[ 0.95874]

[ 1.07007]

[-1.06097]

[ 1.56968]

D(TP(-5))

 1.019758

 0.602644

-0.223791

 0.320788

 (0.69583)

 (0.53214)

 (0.12666)

 (0.23076)

[ 1.46552]

[ 1.13249]

[-1.76680]

[ 1.39013]

D(DP(-1))

 0.549461

 0.118646

-0.126406

-0.419320

 (0.44431)

 (0.33979)

 (0.08088)

 (0.14735)

[ 1.23666]

[ 0.34918]

[-1.56290]

[-2.84580]

D(DP(-2))

-0.253606

-0.213697

-0.119648

-0.574035

 (0.52636)

 (0.40254)

 (0.09582)

 (0.17456)

[-0.48181]

[-0.53087]

[-1.24874]

[-3.28848]

D(DP(-3))

 0.751720

 0.394049

-0.225005

-0.066613

 (0.57463)

 (0.43945)

 (0.10460)

 (0.19057)

[ 1.30817]

[ 0.89668]

[-2.15106]

[-0.34955]

D(DP(-4))

 0.129118

 0.529141

-0.038850

-0.003115

 (0.58916)

 (0.45057)

 (0.10725)

 (0.19539)

[ 0.21916]

[ 1.17439]

[-0.36225]

[-0.01594]

D(DP(-5))

 1.155082

 0.347966

-0.104653

 0.192727

 (0.52863)

 (0.40428)

 (0.09623)

 (0.17531)

[ 2.18503]

[ 0.86071]

[-1.08755]

[ 1.09934]

D(SEAS2)

 0.080546

-1.701270

-0.356536

 0.510200

 (0.87672)

 (0.67048)

 (0.15959)

 (0.29075)

[ 0.09187]

[-2.53740]

[-2.23406]

[ 1.75478]

D(SEAS4)

 3.876872

 1.858795

-0.243747

 0.595383

 (0.86871)

 (0.66435)

 (0.15813)

 (0.28809)

[ 4.46281]

[ 2.79792]

[-1.54141]

[ 2.06665]

D(SEAS3)

 0.953492

-0.991003

-0.249083

 0.206905

 (1.03233)

 (0.78948)

 (0.18792)

 (0.34235)

[ 0.92363]

[-1.25526]

[-1.32550]

[ 0.60436]

D(F=>2002.03)

-3.764611

-2.336029

-0.061173

-0.696931

 (0.91013)

 (0.69603)

 (0.16567)

 (0.30183)

[-4.13633]

[-3.35622]

[-0.36924]

[-2.30903]

D(F=2002.04)

-0.723126

-1.242631

 0.711975

-0.479390

 (0.75160)

 (0.57479)

 (0.13682)

 (0.24925)

[-0.96212]

[-2.16189]

[ 5.20392]

[-1.92330]

 R-squared

 0.914714

 0.946766

 0.836858

 0.686732

 Adj. R-squared

 0.866256

 0.916519

 0.744163

 0.508739

 Sum sq. resids

 22.82371

 13.34851

 0.756281

 2.510140

 S.E. equation

 0.720223

 0.550795

 0.131104

 0.238849

 F-statistic

 18.87648

 31.30148

 9.028136

 3.858190

 Log likelihood

-60.10136

-41.32754

 59.14863

 17.15980

 Akaike AIC

 2.460039

 1.923644

-0.947104

 0.252577

 Schwarz SC

 3.295194

 2.758799

-0.111948

 1.087733

 Mean dependent

 0.104446

 0.146894

 0.025468

-0.026902

 S.D. dependent

 1.969382

 1.906324

 0.259199

 0.340774

 Determinant resid covariance (dof adj.)

 5.19E-05

 Determinant resid covariance

 8.10E-06

 Log likelihood

 13.02871

 Akaike information criterion

 2.713465

 Schwarz criterion

 6.182572