Keynesian Dynamics and the Wage-Price Spiral:Estimating a Baseline Disequilibrium Approach



Linear Regression - Estimation by Least Squares

Dependent Variable DRATE

Quarterly Data From 1965:01 To 2000:04

Usable Observations 144 Degrees of Freedom 140

Centered R**2     0.107048      R Bar **2   0.087914

Uncentered R**2   0.107363      T x R**2      15.460

Mean of Dependent Variable      0.0002011574

Std Error of Dependent Variable 0.0107603680

Standard Error of Estimate      0.0102764963

Sum of Squared Residuals        0.0147848928

Regression F(3,140)                    5.5945

Significance Level of F           0.00118480

Durbin-Watson Statistic             1.689986

Variable                     Coeff       Std Error T-Stat Signif

1.

DFP

0.425074027

0.218103715

1.94895

0.05330045

2.

VC{1}

0.067787859

0.021178390

3.20080

0.00169594

3.

RATE{1}

-0.097427370

0.036990822

-2.63383

0.00939262

4.

Constant

-0.052760785

0.018009545

-2.92960

0.00396402

3SLS System Estimation of () to ()

Linear Systems


Estimation by Seemingly Unrelated Regressions

Iterations Taken 2

Quarterly Data From 1965:01 To 2000:04

Usable Observations    142

Total Observations    144      Skipped/Missing

Dependent Variable DW

Centered R**2     0.628606      R Bar **2   0.465648

Uncentered R**2   0.932844      T x R**2     132.464

Mean of Dependent Variable 0.0144055704

Std Error of Dependent Variable 0.0067920795

Standard Error of Estimate      0.0049649699

Sum of Squared Residuals        0.0024157908

Durbin-Watson Statistic             1.652995

Variable                     Coeff       Std Error T-Stat Signif

1.

DP{1}

0.210329356

0.143144866

1.46935

0.14173893

2.

DFP

0.934167371

0.182447249

5.12021

0.00000031

3.

VL{1}

0.191462660

0.031671401

6.04529

0.00000000

4.

UKBP{1}

-0.086606587

0.033212145

-2.60768

0.00911586

5.

Constant

-0.177708375

0.030236448

-5.87729

0.00000000

31



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