Date: 07/04/12 Time: 16:48
Sample (adjusted): 2007Q3 2012Q1
Included observations: 19 after adjustments
Trend assumption: Linear deterministic trend
Series: ___02 ____01
Lags interval (in first differences): 1 to 1
Unrestricted Cointegration Rank Test (Trace)
Hypothesized Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None 0.458636 14.80961 15.49471 0.0632
At most 1 0.152776 3.150012 3.841466 0.0759
Trace test indicates no cointegration at the 0.05 level
* denotes rejection of the hypothesis at the 0.05 level
**MacKinnon-Haug-Michelis (1999) p-values
Unrestricted Cointegration Rank Test (Maximum Eigenvalue)
Hypothesized Max-Eigen 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None 0.458636 11.65960 14.26460 0.1241
At most 1 0.152776 3.150012 3.841466 0.0759
Max-eigenvalue test indicates no cointegration at the 0.05 level
* denotes rejection of the hypothesis at the 0.05 level
**MacKinnon-Haug-Michelis (1999) p-values
Unrestricted Cointegrating Coefficients (normalized by b'*S11*b=I):