Table 5: The short-run dynamic adjustment
|
Δ2 ppt Δ‰ |
= |
0.39 0.29 -0.29 [3.99] [4.53] [-3.00] -4.47 2.88 -1.47 [-3.19] [3.11] [-1.05] -0.59 -0.29 -0.48 [-8.62] [-6.48] [-6.98] 0.00 -0.03 0.01 [0.67] [-6.57] [1.44] -0.03 0.00 0.00 [-2.86] [0.29] [0.33] 0.03 -0.06 0.02 [4.59] [-13.55] [2.67] -0.04 0.00 -0.02 [-4.86] [0.66] [-2.39] |
Γ β⅛-1 + ^lΔ¾-1 |_ ^3¾-1 + ¾δ¾-1 _ |
|
1.00 | ||||||
|
0.12 |
1.00 | |||||
|
-0.58 |
-0.07 |
1.00 | ||||
|
with Ω = |
-0.04 |
-0.04 |
0.15 |
1.00 | ||
|
0.00 |
0.03 |
0.15 |
0.31 |
1.00 | ||
|
-0.04 |
-0.03 |
0.12 |
0.35 |
-0.07 |
1.00 | |
|
0.02 |
0.06 |
0.01 |
0.18 |
0.19 |
0.11 1.00 |
22
|
0.85 |
0.24 |
0.93 |
-0.32 | |
|
[1.12] |
[0.48] |
[2.58] |
[-0.02] | |
|
-7.40 |
11.35 |
-1.88 |
-274.41 | |
|
[-0.68] |
[1.57] |
[-0.36] |
[-1.00] | |
|
-0.84 |
0.02 |
-1.39 |
3.38 | |
|
[-1.58] |
[0.05] |
[-5.52] |
[0.25] | |
|
+ |
-0.59 |
-0.21 |
0.06 |
-12.26 |
|
[-11.16] |
[-6.10] |
[2.39] |
[-9.16] | |
|
0.14 |
-0.45 |
0.02 |
-20.69 | |
|
[1.73] |
[-8.24] |
[0.57] |
[-9.86] | |
|
0.16 |
0.11 |
0.46 |
8.41 | |
|
[2.91] |
[2.95] |
[17.62] |
[5.98] | |
|
0.23 |
0.64 |
-0.05 |
-12.02 | |
|
[3.52] |
[14.71] |
[-1.76] |
[-7.30] |
|
0.08 | ||||
|
[0.01] 95.90 |
,- -, | |||
|
[0.99] |
ε1,t | |||
|
-1.17 |
β 1Δ^t-1 |
¾t | ||
|
[-0.25] |
β 2∆^t-1 |
ɛɜ,t | ||
|
4.28 [9.16] |
β 3∆¾-1 |
+ |
-¾t | |
|
7.23 |
^11,1δ¾-1 |
⅛t | ||
|
[9.85] |
_ βɪ1,2∆ʃt-1 |
ɛð,t | ||
|
-2.95 [-6.00] |
. ε7,t _ | |||
|
4.20 | ||||
|
[7.29] | ||||
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