Lags interval: 1 to 2
Likelihood 5 Percent 1 Percent Hypothesized
Eigenvalue Ratio Critical Value Critical Value No. of CE(s)
0.439153 25.66901 29.68 35.65 None
0.306500 10.05471 15.41 20.04 At most 1
0.006372 0.172600 3.76 6.65 At most 2
*(**) denotes rejection of the hypothesis at 5%(1%) significance level
L.R. rejects any cointegration at 5% significance level
Unnormalized Cointegrating Coefficients:
ISO FIR FE
-13.97820 0.183589 8.571098
-2.959837 -0.072927 -2.033272
4.941581 -0.309757 -0.100041
Normalized Cointegrating Coefficients: 1 Cointegrating Equation(s)
ISO FIR FE C
1.000000 -0.013134 -0.613176 0.024483
(0.00419) (0.07525)
Log likelihood 160.3386
Normalized Cointegrating Coefficients: 2 Cointegrating Equation(s)
ISO FIR FE C
1.000000 0.000000 -0.161108 -0.100518
(0.40309)
0.000000 1.000000 34.41979 -9.517341
(29.7786)
Log likelihood 165.2797


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