23
Table 4.2. Table based on estimation without restrictions on the covariances of (γ2, γ3) and (γ2, ζ).
Sample period 1960 - 1993 for all variables (except for NAIRU: 1960 - 1988).
OPCBI = -0.008 * NAIRU M + 0.807 * WLEFT M - 0.436 * VPROD M + 0.923 * SLOPE M
(-0.237) (1.529) (-1.784) (1.452)
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 |
0.461 |
0.536 |
-0.54 |
0.03 |
-0.54 |
-0.23 |
-0.32 |
|
Austria |
9 |
3 |
0.58 |
0.56 |
0.50 |
1.223 |
0.727 |
-0.16 |
-0.23 |
-0.15 |
-0.18 | |||
|
Belgium |
2 |
7 |
3 |
0.19 |
0.33 |
0.44 |
0.50 |
0.518 |
0.550 |
-0.22 |
-0.11 |
-0.05 |
-0.36 |
-0.19 |
|
Canada |
2 |
11 |
1 |
0.46 |
0.33 |
0.69 |
0.00 |
0.438 |
0.530 |
-0.20 |
0.16 |
-0.53 |
-0.07 |
-0.16 |
|
Denmark |
2 |
8 |
4 |
0.47 |
0.33 |
0.50 |
0.75 |
0.270 |
0.488 |
-0.16 |
0.01 |
0.26 |
-0.02 |
0.02 |
|
Finland |
2 |
3 |
0.27 |
0.33 |
0.50 |
0.625 |
0.577 |
-0.24 |
-0.08 |
-0.31 |
-0.21 | |||
|
France |
2 |
7 |
2 |
0.28 |
0.33 |
0.44 |
0.25 |
0.959 |
0.661 |
-0.33 |
-0.22 |
-0.41 |
-0.38 |
-0.34 |
|
Germany |
4 |
13 |
5 |
0.66 |
1.00 |
0.81 |
1.00 |
0.655 |
0.585 |
0.42 |
0.23 |
0.42 |
0.08 |
0.28 |
|
Ireland |
7 |
0.39 |
0.44 |
0.238 |
0.480 |
-0.04 |
-0.09 |
-0.07 | ||||||
|
Italy |
1.5 |
5 |
2 |
0.22 |
0.17 |
0.31 |
0.25 |
0.126 |
0.453 |
-0.29 |
-0.14 |
-0.20 |
-0.23 |
-0.22 |
|
Japan |
3 |
6 |
3 |
0.16 |
0.67 |
0.38 |
0.50 |
-3.410 |
0.000 |
0.67 |
0.38 |
0.50 |
0.16 |
0.43 |
|
Netherlands |
2 |
10 |
4 |
0.42 |
0.33 |
0.63 |
0.75 |
0.260 |
0.486 |
-0.15 |
0.14 |
0.26 |
-0.07 |
0.05 |
|
NewZealand |
1 |
3 |
3 |
0.27 |
0.00 |
0.19 |
0.50 |
-3.200 |
0.000 |
0.00 |
0.19 |
0.50 |
0.27 |
0.24 |
|
Norway |
2 |
2 |
0.14 |
0.33 |
0.25 |
1.579 |
0.816 |
-0.48 |
-0.57 |
-0.68 |
-0.57 | |||
|
Spain |
1 |
5 |
1 |
0.21 |
0.00 |
0.31 |
0.00 |
-1.925 |
0.000 |
0.00 |
0.31 |
0.00 |
0.21 |
0.13 |
|
Sweden |
2 |
2 |
0.27 |
0.33 |
0.25 |
1.915 |
0.900 |
-0.57 |
-0.65 |
-0.63 |
-0.62 | |||
|
Switzerland |
4 |
12 |
5 |
0.68 |
1.00 |
0.75 |
1.00 |
0.065 |
0.437 |
0.56 |
0.31 |
0.56 |
0.24 |
0.42 |
|
UK |
2 |
6 |
2 |
0.31 |
0.33 |
0.38 |
0.25 |
1.077 |
0.690 |
-0.36 |
-0.32 |
-0.44 |
-0.38 |
-0.37 |
|
US_______ |
3 |
12 |
3 |
0,51 |
0,67 |
0,75 |
0,50 |
0,741 |
0,606 |
0,06 |
0,14 |
-0,11 |
-0,10 |
0,00 |
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