Table 3: Poland: Johansen Cointegration test; with linear deterministic trend and lag interval (in
first differences) 1 to 2
Unrestricted Cointegration Rank Tests
Hypothesized |
Eigen-value |
Trace Statistic |
5 Percent Critical Value |
1 percent Critical Value |
None |
0.437694 |
97.77270 |
87.31 |
96.58 |
At most 1 |
0.250301 |
51.14031 |
62.99 |
70.05 |
At most 2 |
0.224773 |
27.80552 |
42.44 |
48.45 |
At most 3 |
0.060982 |
7.18299 |
25.32 |
30.45 |
At most 4 |
0.025429 |
2.08642 |
12.25 |
16.26 |
Hypothesized |
Eigen-value |
Max-Eigen |
5 Percent Critical Value |
1 percent |
None |
0.437694 |
46.63240 |
37.52 |
42.36 |
At most 1 |
0.250301 |
23.33479 |
31.46 |
36.65 |
At most 2 |
0.224773 |
20.62253 |
25.54 |
30.34 |
At most 3 |
0.060982 |
5.09656 |
18.96 |
23.65 |
At most 4 |
0.025429 |
2.08642 |
12.25 |
16.26 |
22
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