Number of cointegrating variables | Characteristic value | Trace statistics | Key value | P value
|
| No cointegration | 0.18770 | 5141.073 | 60.06141 | 0.0001*** |
| Up to 1 cointegration | 0.16225 | 3675.888 | 40.17493 | 0.0001*** |
| Up to 2 cointegrations | 0.13786 | 2428.181 | 24.27596 | 0.0001*** |
| Up to 3 cointegrations | 0.09744 | 1382.689 | 12.3209 | 0.0001*** |
Up to 4 cointegrations | 0.08941 | 660.1289 | 4.129906 | 0.0001*** |
这是我论文里Johansen协整检验的结果,5个变量都是I(1)的话是不是不需要做协整检验啊?


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