21
Table 4.1. Table based on estimation with all restrictions.
Sample period 1960 - 1993 for all variables (except for NAIRU: 1960 - 1988).
OPCBI = -0.098 * NAIRU M + 0.038 * WLEFT M - 0.039 * VPROD M + 2.025 * SLOPE M
(-1.296) (0.054) (-0.638) (2.008)
Note: _M means that variables are taken in deviation form their mean.
Т-values in parentheses.
|
Country |
Indices |
ES |
LVAU |
Transformed Indices |
OPCBI |
OPCBI N |
Differences (INDEX-OPCBI) | |||||||
|
AL |
GMTT |
AL_N |
GMTTN |
ES-N |
AL-N |
GMTTN |
ES-N |
LVAU |
AvDIFF | |||||
|
Australia |
1 |
9 |
1 |
0.31 |
0.00 |
0.56 |
0.00 |
-0.026 |
0.415 |
-0.42 |
0.15 |
-0.42 |
-0.11 |
-0.20 |
|
Austria |
9 |
3 |
0.58 |
0.56 |
0.50 |
0.158 |
0.460 |
0.10 |
0.04 |
0.12 |
0.09 | |||
|
Belgium |
2 |
7 |
3 |
0.19 |
0.33 |
0.44 |
0.50 |
-0.08 |
0.401 |
-0.07 |
0.04 |
0.10 |
-0.21 |
-0.04 |
|
Canada |
2 |
11 |
1 |
0.46 |
0.33 |
0.69 |
0.00 |
-0.160 |
0.381 |
-0.05 |
0.31 |
-0.38 |
0.08 |
-0.01 |
|
Denmark |
2 |
8 |
4 |
0.47 |
0.33 |
0.50 |
0.75 |
0.037 |
0.430 |
-0.10 |
0.07 |
0.32 |
0.04 |
0.08 |
|
Finland |
2 |
3 |
0.27 |
0.33 |
0.50 |
-0.141 |
0.386 |
-0.06 |
0.11 |
-0.12 |
-0.02 | |||
|
France |
2 |
7 |
2 |
0.28 |
0.33 |
0.44 |
0.25 |
-0.140 |
0.386 |
-0.06 |
0.05 |
-0.14 |
-0.11 |
-0.07 |
|
Germany |
4 |
13 |
5 |
0.66 |
1.00 |
0.81 |
1.00 |
0.246 |
0.482 |
0.52 |
0.33 |
0.52 |
0.18 |
0.39 |
|
Ireland |
7 |
0.39 |
0.44 |
-0.485 |
0.300 |
0.14 |
0.09 |
0.12 | ||||||
|
Italy |
1.5 |
5 |
2 |
0.22 |
0.17 |
0.31 |
0.25 |
-0.659 |
0.256 |
-0.09 |
0.05 |
-0.01 |
-0.04 |
-0.02 |
|
Japan |
3 |
6 |
3 |
0.16 |
0.67 |
0.38 |
0.50 |
-0.403 |
0.320 |
0.35 |
0.06 |
0.18 |
-0.16 |
0.11 |
|
Netherlands |
2 |
10 |
4 |
0.42 |
0.33 |
0.63 |
0.75 |
0.152 |
0.459 |
-0.13 |
0.17 |
0.29 |
-0.04 |
0.07 |
|
NewZealand |
1 |
3 |
3 |
0.27 |
0.00 |
0.19 |
0.50 |
-0.393 |
0.323 |
-0.32 |
-0.13 |
0.18 |
-0.05 |
-0.08 |
|
Norway |
2 |
2 |
0.14 |
0.33 |
0.25 |
0.281 |
0.491 |
-0.16 |
-0.24 |
-0.35 |
-0.25 | |||
|
Spain |
1 |
5 |
1 |
0.21 |
0.00 |
0.31 |
0.00 |
-1.213 |
0.118 |
-0.12 |
0.19 |
-0.12 |
0.09 |
0.01 |
|
Sweden |
2 |
2 |
0.27 |
0.33 |
0.25 |
1.072 |
0.689 |
-0.36 |
-0.44 |
-0.42 |
-0.41 | |||
|
Switzerland |
4 |
12 |
5 |
0.68 |
1.00 |
0.75 |
1.00 |
0.852 |
0.634 |
0.37 |
0.12 |
0.37 |
0.05 |
0.23 |
|
UK |
2 |
6 |
2 |
0.31 |
0.33 |
0.38 |
0.25 |
0.551 |
0.559 |
-0.23 |
-0.18 |
-0.31 |
-0.25 |
-0.24 |
|
US_______ |
3 |
12 |
3 |
0,51 |
0,67 |
0,75 |
0,50 |
0,632 |
0,579 |
0,09 |
0,17 |
-0,08 |
-0,07 |
0,03 |