Table V: Henrikkson-Merton tests
|
Exports |
Imports | |||||||||||||||||||
|
Sec |
AT |
BE |
CA |
FI |
FR |
GE |
GC |
IR |
IT |
JP |
NL |
NO |
SW |
UK |
US |
agg |
agg* |
agg |
agg* | |
|
0 |
LIN |
1.08 |
0.91 |
1.17 |
1.08 |
1.03 |
1.08 |
0.93 |
^∏5^ |
0.93 |
1.08 |
0.94 |
0.99 |
0.98 |
1.12 |
0.96 |
1.04 |
1.01 |
1.00 |
1.01 |
|
THM |
1.14 |
1.22 |
1.20 |
1.00 |
0.89 |
1.12 |
0.89 |
1.18 |
1.01 |
1.13 |
0.89 |
0.99 |
0.94 |
1.03 |
0.86 |
1.04 |
1.00 |
0.97 |
1.00 | |
|
SPA |
0.94 |
1.29 |
1.16 |
1.04 |
0.91 |
1.05 |
0.93 |
1.13 |
1.04 |
1.14 |
1.02 |
0.94 |
1.02 |
1.06 |
0.97 |
1.05 |
1.02 |
0.97 |
0.99 | |
|
I |
LIN |
1.10 |
0.83 |
1.06 |
0.94 |
0.93 |
1.00 |
1.03 |
^Γ09^ |
0.93 |
1.12 |
1.01 |
1.08 |
1.34 |
0.94 |
1.09 |
1.04 |
1.07 |
1.02 |
"lɪ |
|
THM |
1.06 |
0.89 |
1.07 |
0.97 |
0.95 |
1.04 |
1.09 |
1.04 |
0.90 |
1.10 |
0.88 |
1.09 |
1.29 |
1.06 |
0.98 |
1.03 |
1.08 |
1.00 |
1.04 | |
|
SPA |
0.98 |
1.01 |
0.98 |
0.97 |
0.97 |
1.03 |
1.05 |
1.02 |
0.91 |
1.14 |
0.93 |
0.96 |
1.31 |
1.10 |
1.06 |
1.03 |
1.06 |
1.03 |
1.02 | |
|
2 |
LIN |
0.98 |
0.87 |
0.96 |
0.98 |
0.95 |
0.86 |
1.09 |
^Γ03^ |
0.88 |
0.91 |
1.02 |
0.98 |
1.00 |
1.03 |
0.93 |
0.96 |
0.97 |
1.02 |
"lɪ |
|
THM |
1.12 |
1.21 |
0.97 |
1.03 |
0.85 |
0.95 |
1.05 |
0.98 |
0.84 |
0.86 |
1.02 |
0.95 |
1.10 |
1.12 |
0.96 |
1.00 |
1.00 |
0.98 |
1.00 | |
|
SPA |
1.13 |
1.02 |
1.03 |
1.05 |
1.05 |
0.94 |
1.07 |
0.83 |
0.78 |
0.93 |
1.03 |
1.00 |
0.98 |
0.95 |
0.97 |
0.98 |
0.98 |
0.98 |
0.99 | |
|
3 |
LIN |
0.88 |
1.00 |
0.89 |
0.93 |
1.08 |
0.84 |
0.90 |
^Γ06^ |
1.05 |
1.08 |
1.07 |
1.10 |
1.10 |
1.06 |
1.01 |
1.00 |
0.99 |
1.03 |
"lɪ |
|
THM |
0.87 |
1.03 |
1.08 |
0.94 |
1.03 |
1.02 |
0.94 |
0.95 |
0.89 |
0.92 |
0.83 |
1.15 |
1.12 |
0.95 |
1.08 |
0.99 |
0.99 |
1.02 |
1.01 | |
|
SPA |
0.88 |
1.00 |
1.00 |
1.04 |
1.11 |
0.93 |
0.93 |
0.96 |
0.86 |
0.83 |
0.90 |
1.17 |
1.05 |
0.98 |
1.00 |
0.98 |
0.99 |
1.05 |
1.06 | |
|
4 |
LIN |
1.08 |
1.04 |
1.10 |
0.94 |
0.94 |
1.23 |
0.79 |
^^097^ |
1.04 |
1.00 |
0.99 |
0.87 |
1.06 |
0.92 |
1.02 |
0.99 |
1.01 |
1.00 |
^^O8^ |
|
THM |
1.02 |
1.02 |
0.92 |
0.96 |
1.12 |
1.24 |
1.08 |
0.94 |
1.05 |
0.95 |
1.01 |
0.99 |
1.09 |
1.22 |
1.03 |
1.03 |
1.07 |
1.03 |
1.02 | |
|
SPA |
1.03 |
1.02 |
1.00 |
1.00 |
1.10 |
1.28 |
1.08 |
0.83 |
1.01 |
0.95 |
0.94 |
1.05 |
1.05 |
1.07 |
0.97 |
1.02 |
1.01 |
0.99 |
0.99 | |
|
5 |
LIN |
0.97 |
0.91 |
0.92 |
1.13 |
0.98 |
1.09 |
0.92 |
^^O9^ |
1.02 |
1.13 |
0.75 |
1.15 |
1.11 |
0.95 |
1.12 |
1.01 |
0.98 |
1.02 |
"lɪ |
|
THM |
0.85 |
0.99 |
0.95 |
1.04 |
0.99 |
1.04 |
0.86 |
1.01 |
1.05 |
0.93 |
0.91 |
1.15 |
1.07 |
1.12 |
0.97 |
1.00 |
1.00 |
1.03 |
1.02 | |
|
SPA |
0.93 |
1.04 |
1.00 |
1.06 |
1.00 |
0.95 |
0.91 |
0.94 |
0.99 |
0.97 |
0.91 |
1.12 |
1.03 |
1.13 |
0.97 |
1.00 |
0.98 |
1.01 |
1.00 | |
|
6 |
LIN |
1.05 |
1.04 |
0.88 |
1.09 |
0.94 |
0.96 |
0.92 |
1.05 |
0.95 |
1.13 |
1.08 |
1.09 |
1.00 |
0.91 |
1.03 |
1.02 |
1.01 |
1.04 |
1.02 |
|
THM |
1.15 |
1.12 |
0.89 |
1.02 |
1.04 |
0.80 |
1.00 |
1.00 |
0.96 |
1.00 |
1.12 |
1.11 |
1.04 |
1.11 |
0.87 |
1.02 |
1.00 |
1.06 |
1.07 | |
|
SPA |
1.12 |
1.05 |
0.95 |
1.07 |
1.04 |
0.92 |
1.01 |
0.99 |
1.07 |
0.95 |
1.18 |
1.09 |
1.01 |
1.08 |
0.91 |
1.03 |
1.02 |
1.03 |
1.04 | |
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