Pedroni Residual Cointegration Test
Series: D(NMRJCSR?) LYCZ? YYCZ? NYCZ?
Date: 09/12/10 Time: 19:16
Sample: 1981 2008
Included observations: 28
Cross-sections included: 11
Null Hypothesis: No cointegration
Trend assumption: Deterministic intercept and trend
Automatic lag length selection based on HQIC with a max lag of 5
Newey-West automatic bandwidth selection and Bartlett kernel
Alternative hypothesis: common AR coefs. (within-dimension)
Weighted
Statistic Prob. Statistic Prob.
Panel v-Statistic -0.010447 0.5042 0.017996 0.4928
Panel rho-Statistic 1.448586 0.9263 1.488708 0.9317
Panel PP-Statistic 0.035544 0.5142 -0.053887 0.4785
Panel ADF-Statistic -2.178849 0.0147 -2.412419 0.0079
Alternative hypothesis: individual AR coefs. (between-dimension)
Statistic Prob.
Group rho-Statistic 2.772048 0.9972
Group PP-Statistic 0.673220 0.7496
Group ADF-Statistic -2.613901 0.0045



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