Public Debt Management in Brazil



Table Al - Estimated Model, sample 1999:03 2003:07

Coeff

S.E.

t — ratio

Adj.R2

SEeq.

SE dep.va

DW

μo

-0.132

0.182

-072

0.85

0.156

0.406

2.01

μι

0.254

0.114

213

μ2

19.78

11.22

1.76

μ3

187.8

68.34

2.75

μ4

0.618

0.116

5.32

δ0

0.032

0.021

1.53

0.97

0.036

0.249

1.95

δ

0.977

0.032

30.2

δ2

-2.724

1.010

-2.69

δ3

0.044

0.019

2.23

δ4

0.215

0.028

717

Yo

0.037

0.013

2.79

0.40

0.020

0.026

1.77

Yi

0.465

0.173

268

Y2

-0.244

0.162

-1.50

Y3

-1.452

0.680

-2.13

Y4

-0.020

0.007

-256

αo

-0.0005

0.0002

-2.04

0.98

0.0004

0.0028

1.44

α1

0.9470

0.0370

251

α2

0.0077

0.0039

1.99

α3

0.0017

0.0005

3.42

α4

0.0002

0.00004

5.97

P

0.866

0.034

24.9

0.94

0.0006

0.0025

1.04

β

0.012

0.001

101

βi

1.569

0.394

3.97

β2

0.025

0.013

1.97



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