Austria (AT) Australia (AU) Brunei (BN)
Belgium-Luxembourg (BL) Canada (CA)
Chile (CL)
China, Mainland (CN) Germany (DE)
Denmark (DK) Spain (ES) Finland (FI) France (FR) U.K. (GB) Greece (GR)
China, Honk Kong (HK) Indonesia (ID)
Ireland (IE) Italy (IT) Japan (JP) Korea, Rep. (KR) Myanmar (MM) Mexico (MX) Malaysia (MY) Netherlands (NL) New Zealand (NZ) Philippines (PH) Portugal (PT) Sweden (SE) Singapore (SG) Thailand (TH) Taiwan (TW) U.S.A. (US) Vietnam (VD) Other Europe (51) Other Latin America (71)
Austria (AT)
CFCLAT/GDPAT=.000208-.000168*(PMCLAT/PMOCAT)+.911736*(CFCLAT(-1)/GDPAT(-1)) (2.71) (-3.69) (19.01)
OLS (1981-2000) RRADJ=.963 SD= .0000668 DW= 2.164
CFCLAT/GDPAT=.005208-.000160*(PMCLAT/PMOCAT)+.874297*(CFCLAT(-1)/GDPAT(-1)) (.26) (-2.84) (5.58)
-.0000025*(TIME)
(-.25)
OLS (1981-2000) RRADJ=.961 SD= .0000687 DW= 2.099
MCLAT=316.138+.293554*(DCLAT)-4.58118*(PMCLAT)+.677704*(MCLAT(-1)) (.46) (3.28) (-1.06) (5.00)
OLS (1981-2000) RRADJ=.65 SD= 191.5974 DW= 1.875
MCLAT=-151.314+.293756*(DCLAT)+.701713*(MCLAT(-1) (-.28) (3.27) (5.23)
OLS (1981-2000) RRADJ=.647 SD= 192.3180 DW= 1.857 UECLAT*(-1)=879.818-.000359*(GDPAT)-.719158*(UECLAT(-1)) (1.66) (-1.46) (-4.61)
OLS (1981-2000) RRADJ=.655 SD= 254.0795 DW= 1.22
UECLAT= -1124.66+.371951*(XRELEAT)+.644086*(UECLAT(-1)) (-1.24) (1.40) (3.39)
OLS (1981-2000) RRADJ=.652 SD= 255.1875 DW= 1.071
UECLAT=879.818-.000359*(GDPAT)+.719158*(UECLAT(-1)) (1.66) (-1.46) (4.61)
OLS (1981-2000) RRADJ=.655 SD= 254.0795 DW= 1.22
UECLAT/GDPAT=.0000409+.882043*(UECLAT(-1)/GDPAT(-1)) (.59) (6.94)
OLS (1981-2000) RRADJ=.713 SD= .000140 DW= 1.262 UECLAT/(GDPAT)=.000146-.0000966*(PMCLAT/PMOCAT)
(1.22) (-1.08)
+.861394*(UECLAT(-1)/(GDPAT(-1))) (6.73)
OLS (1981-2000) RRADJ=.715 SD= .000140 DW= 1.265
MOCAT=2164.98+.001226*(GDPAT)-392.698*(PMOCAT/PMCLAT)+.465019*(MOCAT(-1)) (1.94) (1.94) (-1.53) (2.87)
OLS (1981-2000) RRADJ=.769 SD= 439.6150 DW= 1.621
UROCAT=256.352+.921954*(XROPAT) (1.34) (43.74)
OLS (1981-2000) RRADJ=.99 SD= 86.0313 DW= 1.137
CFOPAT=2384.79+.001964*(GDPAT)-.012168*(PMOPAT*EXRIAT)+.402126*(CFOPAT(-1)) (3.75) (6.52) (-.77) (3.84)
-663.599*(D95)
(-3.43)
OLS (1981-2000) RRADJ=.95 SD= 180.3194 DW= 2.171
MOPAT=-1831.14+.218756*(DOPAT)+.746681*(MOPAT(-1)) (-3.06) (3.37) (5.50)
OLS (1981-2000) RRADJ=.86 SD= 248.6428 DW= 2.075 XROPAT=939.215+.282347*(DOPAT)+.517842*(XROPAT(-1)) (.74) (1.69) (2.55)
OLS (1981-2000) RRADJ=.682 SD= 528.2580 DW= .9
CFNGAT=-355.804+.001064*(GDPAT)-3.62658*(PMNGAT/PMOPAT)+.534891*(CFNGAT(-1)) (-.81) (2.46) (-.52) (2.89)
OLS (1981-2000) RRADJ=.956 SD= 122.2712 DW= 2.202 CFNGAT=-561.184+.001214*(GDPAT)+.495344*(CFNGAT(-1)) (-2.92) (3.87) (3.00)
OLS (1981-2000) RRADJ=.958 SD= 119.6186 DW= 2.369
MNGAT=2638.54-54.6116*(PMNGAT/PMOPAT)+.577339*(MNGAT(-1)) (3.52) (-2.97) (4.28)
OLS (1981-2000) RRADJ=.777 SD= 463.8592 DW= 2.044
UENGAT=-944.550+.001124*(GDPAT)+.224114*(UENGAT(-1))-1291.76*(D9495) (-2.88) (5.49) (2.57) (-9.45)
OLS (1981-2000) RRADJ=.926 SD= 137.2320 DW= 1.367 LOG(PEATP)=2.67127+.663692*LOG(PIFSP)-.422542*LOG(EXRIAT) (2.93) (4.19) (-2.33)
+.208030*LOG(PEATP(-1)) (1.29)
OLS (1981-2000) RRADJ=.561 SD= .131702 DW= 1.601
LOG(PEATO)=-.917633+1.17113*LOG(PIFSO) (-2.28) (13.92)
OLS (1981-2000) RRADJ=.91 SD= .106127 DW= 1.61
XRELEAT/GDPAT=.0000532+.958157*(XRELEAT(-1)/GDPAT(-1)) (.31) (12.12)
OLS (1981-2000) RRADJ=.885 SD= .000115 DW= 1.971
Australia (AU)
CFCLAU/GDPAU=.000571+.916183*(CFCLAU(-1)/GDPAU(-1)) (.55) (10.09)
OLS (1981-2000) RRADJ=.841 SD= .000727 DW= 2.662
UECLAU=-602.555+1.41429*(XRELEAU)+.414942*(UECLAU(-1)) (-.55) (3.24) (2.19)
OLS (1981-2000) RRADJ=.977 SD= 963.8792 DW= 1.691 UECLAU=-886.547+2.35117*(XRELEAU)
(-.75) (25.62)
OLS (1981-2000) RRADJ=.972 SD= 1,060.30 DW= 1.006
MOCAU=-3518.77+.175138*(DOCAU)-.161506*(PMOCAU*EXRIAU)+.899087*(MOCAU(-1)) (-1.22) (1.67) (-1.37) (4.94)
OLS (1981-2000) RRADJ=.93 SD= 1,582.85 DW= 1.924 UROCAU=-560.836+.989445*(XROPAU)
(-.65) (38.07)
OLS (1981-2000) RRADJ=.987 SD= 440.8514 DW= 1.352
CFOPAU=5073.67+.024818*(GDPAU)+.515343*(CFOPAU(-1)) (2.75) (4.30) (3.92)
OLS (1981-2000) RRADJ=.978 SD= 566.3301 DW= 2.071
MOPAU/DOPAU=.056783+.339200*(MOPAU(-1)/DOPAU(-1)) (3.26) (1.76)
OLS (1981-2000) RRADJ=.099 SD= .015978 DW= 2.064
UEOPAU=564.959-.022501*(XRELEAU)+.602143*(UEOPAU(-1)) (1.49) (-1.24) (2.83)
OLS (1981-2000) RRADJ=.708 SD= 118.0464 DW= 1.5
UEOPAU=95983.3+.092429*(XRELEAU)+.702859*(UEOPAU(-1))-48.7098*(TIME) (1.28) (1.01) (3.14) (-1.27)
OLS (1981-2000) RRADJ=.719 SD= 115.9350 DW= 1.469
UROPAU/XROPAU=.0000271+.891724*(UROPAU(-1)/XROPAU(-1)) (.32) (17.56)
OLS (1981-2000) RRADJ=.942 SD= .000204 DW= 2.382 XROPAU=37.4598+.931153*(DOPAU)
(.03) (27.41)
OLS (1981-2000) RRADJ=.975 SD= 611.4637 DW= 2.184
CFNGAU=407.800+.002827*(GDPAU)+.851261*(CFNGAU(-1)) (1.97) (1.35) (8.94)
OLS (1981-2000) RRADJ=.99 SD= 176.0599 DW= 1.987
CFNGAU=243.292+.020994*(GDPAU) (.51) (17.90)
OLS (1981-2000) RRADJ=.944 SD= 408.5435 DW= .374 UENGAU*(-1)=709.193+.182953*(XRELEAU)
(2.10) (7.03)
OLS (1981-2000) RRADJ=.718 SD= 300.5008 DW= 1.504
UENGAU*(-1)=595.978+.006089*(GDPAU) (1.71) (7.12)
OLS (1981-2000) RRADJ=.723 SD= 297.7742 DW= 1.628 XRNGAU/UROPAU= -1089.58+.797428*(XRNGAU(-1)/UROPAU(-1)) (-1.11) (5.60)
OLS (1981-2000) RRADJ=.615 SD= 1,854.55 DW= 2.079
LOG(PEAUP)=-5.81017+.834142*LOG(PIFSP)+.850716*LOG(EXRIAU) (-1.59) (2.53) (1.50)
+.510490*LOG(PEAUP(-1) (2.61)
OLS (1981-2000) RRADJ=.429 SD= .283297 DW= 1.764 LOG(PEAUO)=-5.74504+2.25681*LOG(PIFSP)
(-4.97) (9.36)
OLS (1981-2000) RRADJ=.82 SD= .271808 DW= 1.435
XRELEAU=-370.180+.032659*(GDPAU) (-.66) (23.86)
OLS (1981-2000) RRADJ=.968 SD= 476.7287 DW= .407
XRELEAU=12.5507+.008929*(GDPAU)+.744036*(XRELEAU(-1)) (.05) (3.31) (9.01)
OLS (1981-2000) RRADJ=.994 SD= 204.1484 DW= 1.258
Brunei (BN)
CFOPBN=-385.656+.083014*(GDPBN)+.647017*(CFOPBN(-1)) (-2.05) (2.20) (4.32)
OLS (1981-2000) RRADJ=.951 SD= 24.1937 DW= .827
CFOPBN=-142.164+.087566*(GDPBN) (-.50) (2.16)
Orrcut (1981-2000) RRADJ=.923 SD= 23.4309 DW= 1.058
LOG(CFOPBN)=-9.49207+1.29084*LOG(GDPBN)+.697757*LOG(CFOPBN(-1)) (-1.76) (1.81) (4.66)
OLS (1981-2000) RRADJ=.959 SD= .066858 DW= 1.022
MOPBN/DOPBN=.094484-.000392*(PMOPBN)+.705947*(MOPBN(-1)/DOPBN(-1)) (1.41) (-1.63) (6.86)
OLS (1981-2000) RRADJ=.778 SD= .149892 DW= 1.56
UEOPBN/(GDPBN)=.0000096-0000000*(PMOPBN)+.979137*(UEOPBN/(GDPBN(-1))) (.93) (-.76) (58.36)
OLS (1981-2000) RRADJ=.995 SD= .0000163 DW= 2.446
UEOPBN/(GDPBN)=.0000745-0000000*(PMOPBN)+.908835*(UEOPBN(-1)/(GDPBN(-1))) (1.35) (-.24) (9.68)
OLS (1981-2000) RRADJ=.834 SD= .0000908 DW= 2.278
UEOPBN=-5.18458+.001011*(GDPBN)+.688849*(UEOPBN(-1)) (-1.23) (1.31) (3.16)
OLS (1981-2000) RRADJ=.889 SD= .522571 DW= 2.151
UEOPBN=-.149265+.025435*(XRELEBN) (-.68) (15.74)
OLS (1981-2000) RRADJ=.929 SD= .420320 DW= 1.639
XROPBN=43.1021+.729586*(DOPBN)+.108492*(XROPBN(-1)) (2.61) (8.41) (1.28)
OLS (1984-2000) RRADJ=.966 SD= 19.3064 DW= 1.303
XROPBN=40.7002+.829169*(DOPBN) (2.43) (20.94)
OLS (1984-2000) RRADJ=.965 SD= 19.7172 DW= 1.07
XRELEBN=-163.971+.032317*(GDPBN)-.0000471*(PMOPBN*EXRIBN) (-2.17) (2.34) (-.41)
+.775411*(XRELEBN(-1)) (7.83)
OLS (1981-2000) RRADJ=.986 SD= 7.07374 DW= 1.828
XRELEBN=-166.836+.033003*(GDPBN)-.009077*(PMOPBN(-1))+.769726*(XRELEBN(-1)) (-2.50) (2.68) (-.88) (8.38)
OLS (1981-2000) RRADJ=.986 SD= 6.94455 DW= 1.849
XRELEBN=-162.332+.032052*(GDPBN)-.005970*(PMOPBN)+.777557*(XRELEBN(-1)) (-2.20) (2.38) (-.51) (7.94)
OLS (1981-2000) RRADJ=.986 SD= 7.05324 DW= 1.843
Belgium-Luxembourg (BL)
CFCLBX/GDPBX=.000125-.0000538*(PMCLBX/PMOPBX) (1.30) (-1.25)
+.814888*(CFCLBX(-1)/GDPBX(-1)) (7.48)
OLS (1981-2000) RRADJ=.899 SD= .0000634 DW= 2.258 MCLBX/DCLBX=.223667+.742996*(MCLBX(-1)/DCLBX(-1))
(1.72) (4.88)
OLS (1981-2000) RRADJ=.546 SD= .114052 DW= 2.278
UECLBX=2691.89+.0000969*(GDPBX)-2.92277*(PMCLBX) (1.79) (1.60) (-.155)
OLS (1981-2000) RRADJ=.79 SD= 340.6489 DW= 1.948
MOCBX=16.0551+.003346*(GDPBX)-.010546*(PMOCBX*EXRIBX)+.358005*(MOCBX(-1)) (.00) (2.24) (-.35) (2.18)
OLS (1981-2000) RRADJ=.821 SD= 2,059.77 DW= 2.369
MOCBX=-691.090+1.01977*(DOCBX) (-1.46) (66.73)
OLS (1981-2000) RRADJ=.996 SD= 317.6991 DW= 2.042
MOCBX=-33.4405+1.00353*(DOCBX)-.442810*(PMOCBX) (-.05) (52.90) (-1.38)
OLS (1981-2000) RRADJ=.996 SD= 309.9117 DW= 2.491
MOCBX=314.006+.993441*(DOCBX)-.005119*(PMOCBX*EXRIBX) (.41) (45.94) (-1.65)
OLS (1981-2000) RRADJ=.996 SD= 303.4963 DW= 2.654 UROCBX=.0000000+1.00000*(XROPBX)
(2.19) (245986732162842.00)
OLS (1981-2000) RRADJ=1. SD= .0000000 DW= .045
MOPBX/GDPBX=.003150-.0000001*(PMOPBX)+.378525*(MOPBX(-1)/GDPBX(-1)) (3.99) (-.19) (2.34)
OLS (1981-2000) RRADJ=.201 SD= .000356 DW= 2.279
MOPBX=-479.225+.005172*(GDPBX) (-.13) (8.58)
OLS (1981-2000) RRADJ=.792 SD= 2,219.99 DW= 1.474 XROPBX=-7635.62+4.29484*(DOPBX)+.693707*(XROPBX(-1))
(-2.47) (4.90) (6.76)
OLS (1981-2000) RRADJ=.84 SD= 2,054.42 DW= 2.441
CFNGBX=-1334.44+.000678*(GDPBX)+.672518*(CFNGBX(-1)) (-2.30) (3.20) (4.84)
OLS (1981-2000) RRADJ=.94 SD= 351.5523 DW= 2.346 MNGBX=463.125+.996323*(DNGBX)-3.79201*(PMNGBX)
(2.00) (58.41) (-1.86)
OLS (1981-2000) RRADJ=.995 SD= 169.4533 DW= 2.835
MNGBX=332.350+.985132*(DNGBX)-.014340*(PMNGBX*EXRIBX) (1.50) (56.58) (-1.25)
OLS (1981-2000) RRADJ=.994 SD= 177.9152 DW= 2.861 UENGBX=-2063.34+.000455*(GDPBX)+.510501*(UENGBX(-1)*(-1)) (-3.51) (3.76) (3.55)
OLS (1981-2000) RRADJ=.892 SD= 247.1603 DW= 2.163
XRELEBX=-863.073+.001041*(GDPBX)-.347489*(PMOPBX(-1)) (-.99) (8.36) (-.97)
OLS (1981-2000) RRADJ=.951 SD= 220.4201 DW= 1.031
XRELEBX=-1102.29+.001073*(GDPBX)-.002131*(PMOPBX(-1)*EXRIBX(-1)) (-1.18) (8.03) (-.62)
OLS (1981-2000) RRADJ=.949 SD= 223.8731 DW= .972
Canada (CA)
CFCLCA/GDPCA=.000638-.000129*(PMCLCA(-1)/PMOPCA(-1)) (1.10) (-.26)
+.887117*(CFCLCA(-1)/GDPCA(-1)) (12.45)
OLS (1981-2000) RRADJ=.902 SD= .000470 DW= 2.158
CFCLCA/GDPCA=.300730-.000306*(PMCLCA/PMCLCA(-1)) (2.43) (-.27)
+.361588*(CFCLCA(-1)/GDPCA(-1))-.000149*(TIME) (1.61) (-2.42) OLS (1981-2000) RRADJ=.924 SD= .000414 DW= 1.7
CFCLCA/GDPCA=.302558+.354922*(CFCLCA(-1)/GDPCA(-1))-.000150*(TIME) (2.52) (1.64) (-2.51) OLS (1981-2000) RRADJ=.928 SD= .000403 DW= 1.669
MCLCA/DCLCA=.053977-.011063*(PMCLCA/PMOPCA)+.793652*(MCLCA(-1)/DCLCA(-1)) (1.45) (-.39) (6.82)
OLS (1981-2000) RRADJ=.702 SD= .032052 DW= 2.578 MCLCA/DCLCA=.074374-.032579*(PMCLCA/PMOPCA(-1))
(1.73) (-.90)
+.801030*(MCLCA(-1)/DCLCA(-1)) (7.01)
OLS (1981-2000) RRADJ=.713 SD= .031458 DW= 2.654
UECLCA=5723.39+.154645*(XRELECA)-2437.28*(PMCLCA/PMCLCA(-1)) (1.20) (1.71) (-.71)
+.533840*(UECLCA(-1)) (2.65)
OLS (1981-2000) RRADJ=.729 SD= 1,223.81 DW= 1.638
MOCCA=-13628.6+.220053*(DOCCA)+.487942*(MOCCA(-1)) (-5.47) (6.13) (4.57)
OLS (1981-2000) RRADJ=.964 SD= 1,891.08 DW= 1.838
UROCCA=5131.38+.924261*(XROPCA) (3.07) (46.92)
OLS (1981-2000) RRADJ=.991 SD= 598.6104 DW= .795
CFOPCA=10297.3+.031139*(GDPCA)+.611163*(CFOPCA(-1)) (1.94) (6.07) (7.17)
OLS (1981-2000) RRADJ=.901 SD= 1,739.53 DW= 1.839 MOPCA=1821.69+.003355*(GDPCA)-1951.73*(PMOPCA/PMOPCA(-1))
(1.23) (.94) (-1.77) +.759466*(MOPCA(-1)) (5.42)
OLS (1981-2000) RRADJ=.832 SD= 819.5610 DW= 2.163
MOPCA=2368.58+.005770*(DOPCA)-1677.29*(PMOPCA/PMOPCA(-1)) (.80) (.14) (-1.41)
+.849107*(MOPCA(-1)) (6.49)
OLS (1981-2000) RRADJ=.823 SD= 841.3806 DW= 2.224 UEOPCA/XRELECA=.047412-.0000018*(PMOPCA*EXRICA)
(3.02) (-2.04)
+.499632*(UEOPCA(-1)/XRELECA(-1)) (3.20)
OLS (1981-2000) RRADJ=.471 SD= .012974 DW= 1.633
UEOPCA/XRELECA=.045737-.000210*(PMOPCA)+.549667*(UEOPCA(-1)/XRELECA(-1)) (2.98) (-1.98) (3.60)
OLS (1981-2000) RRADJ=.465 SD= .013040 DW= 1.672
XROPCA=1129.27+.918042*(DOPCA) (.21) (15.51)
OLS (1981-2000) RRADJ=.927 SD= 1,889.47 DW= 1.949
CFNGCA=4003.48+.019046*(GDPCA)-4.11651*(PMNGCA/PMOPCA) (.89) (1.56) (-.35)
+.686608*(CFNGCA(-1)) (3.84)
OLS (1981-2000) RRADJ=.916 SD= 1,773.83 DW= 1.578
MNGCA=-350.795+.008994*(DNGCA)-.012065*(PMNGCA) (-1.38) (4.13) (-1.19)
OLS (1981-2000) RRADJ=.665 SD= 257.5772 DW= 2.372
MNGCA=-343.283+.008939*(DNGCA)-.000119*(PMNGCA*EXRICA) (-1.35) (4.10) (-1.22)
OLS (1981-2000) RRADJ=.666 SD= 257.0021 DW= 2.378
UENGCA=-2254.01+.077384*(XRELECA)+.521817*(UENGCA(-1)) (-2.03) (2.47) (2.21)
OLS (1981-2000) RRADJ=.612 SD= 545.8598 DW= 2.057 LOG(PECAP)=-4.17545+.957629*LOG(PIFSP)+.916445*LOG(EXRICA) (-4.22) (16.57) (5.03)
OLS (1981-2000) RRADJ=.935 SD= .060824 DW= 2.008
LOG(PECAO)=.144417+.727614*LOG(PIFSO)+.208305*LOG(EXRICA) (.10) (9.65) (.78)
OLS (1981-2000) RRADJ=.834 SD= .091093 DW= 1.373
LOG(XRELECA)=1.10571+.749035*LOG(GDPCA)-.075842*LOG(PMOPCA) ( 1.44) (13.66) (-2.24)
OLS (1981-2000) RRADJ=.916 SD= .037073 DW= .825
LOG(XRELECA)=1.00513+.772917*LOG(GDPCA)-.060785*LOG(PMOPCA*EXRICA) (1.29) (14.01) (-2.02)
OLS (1981-2000) RRADJ=.912 SD= .037913 DW= .737
LOG(XRELECA)=.645696+.172217*LOG(GDPCA)-.001270*LOG(PMOPCA) (1.10) (1.09) (-.04)
+.727881*LOG(XRELECA(-1)) (3.80)
OLS (1981-2000) RRADJ=.953 SD= .027717 DW= 1.7
Chile (CL)
CFCLCL=229.512+.0000816*(GDPCL) (2.43) (5.49)
OLS (1981-2000) RRADJ=.606 SD= 132.0835 DW= 1.256 MCLCL=964.001+.710233*(DCLCL)-12.4502*(PMCLCL)
(1.49) (6.59) (-3.03)
OLS (1981-2000) RRADJ=.931 SD= 306.8754 DW= 1.201
UECLCL=-271.133+.488041*(XRELECL)+.519621*(UECLCL(-1)) (-.98) (1.91) (2.26)
OLS (1981-2000) RRADJ=.837 SD= 365.2829 DW= 1.218
CFOCCL=-24.4871+.0000063*(GDPCL) (-11.24) (18.42)
OLS (1981-2000) RRADJ=.947 SD= 3.04620 DW= 1.694
MOCCL=-3171.22+1.29154*(DOCCL) (-9.16) (26.57)
OLS (1981-2000) RRADJ=.974 SD= 491.0033 DW= 2.01 MOCCL=-2531.06+1.26474*(DOCCL)-3.76991*(PMOCCL)
(-4.61) (25.04) (-1.47)
OLS (1981-2000) RRADJ=.975 SD= 475.8092 DW= 2.512
UROCCL=-619.850+1.14233*(XROPCL) (-4.83) (59.01)
OLS (1981-2000) RRADJ=.995 SD= 176.7175 DW= 1.054
CFOPCL=-45.1182+.001050*(GDPCL) (-.23) (34.47)
OLS (1981-2000) RRADJ=.984 SD= 270.8043 DW= 1.14 CFOPCL=13.1227+.001053*(GDPCL)-78.6098*(PMOPCL/PMOPCL(-1)) (.05) (32.81) (-.40)
OLS (1981-2000) RRADJ=.983 SD= 277.3264 DW= 1.205
CFOPCL=-2.65467+.000635*(GDPCL)-50.0591*(PMOPCL/PMOPCL(-1)) (-.01) (4.15) (-.30)
+.415957*(CFOPCL(-1)) (2.77)
OLS (1981-2000) RRADJ=.988 SD= 234.9775 DW= 1.178
MOPCL=-644.451+.252232*(DOPCL)-52.9468*(PMOPCL/PMOPCL(-1)) (-2.28) (8.36) (-.23)
OLS (1981-2000) RRADJ=.788 SD= 326.1859 DW= 1.113
MOPCL=-267.890+.143056*(DOPCL)-99.3129*(PMOPCL/PMOPCL(-1)) (-.84) (2.38) (-.47)
+.442002*(MOPCL(-1)) (2.04)
OLS (1981-2000) RRADJ=.822 SD= 299.4415 DW= 1.797
UEOPCL/XRELECL=.114233-.055952*(PMOPCL/PMOPCL(-1)) (1.84) (-1.31)
+.693727*(UEOPCL(-1)/XRELECL(-1)) (6.14)
UROPCL/XROPCL=.003436-.001066*(PMOPCL/PMOPCL(-1)) (1.28) (-.66)
+.702414*(UROPCL(-1)/XROPCL(-1)) (3.92)
OLS (1981-2000) RRADJ=.474 SD= .002265 DW= 2.458 XROPCL=525.924+.810595*(DOPCL)
(2.08) (24.24)
OLS (1981-2000) RRADJ=.969 SD= 371.0286 DW= 1.569
XROPCL=1037.89+.781239*(DOPCL)-2.00739*(PMOPCL) (1.98) (18.39) (-1.11)
OLS (1981-2000) RRADJ=.969 SD= 368.6831 DW= 1.729
XROPCL=974.274+.477020*(DOPCL)-2.76327*(PMOPCL)+.386032*(XROPCL(-1)) (1.96) (2.70) (-1.57) (1.76)
OLS (1981-2000) RRADJ=.972 SD= 347.6979 DW= 2.016 CFNGCL=97.7465+.0000205*(GDPCL)+283.770*(D9697)
(5.28) (6.08) (16.35)
OLS (1981-1999) RRADJ=.98 SD= 19.5828 DW= 1.404
CFNGCL=97.7465+.0000205*(GDPCL)+283.770*(D9697)+441.859*(D9900) (5.28) (6.08) (16.35) (19.48) OLS (1981-2000) RRADJ=.992 SD= 19.5828 DW= 1.928 MNGCL=-930.105+.799421*(DNGCL)
(-8.76) (16.27)
OLS (1981-2000) RRADJ=.933 SD= 283.2085 DW= .262
UENGCL=-48.1843+.069199*(XRELECL)+540.225*(D9697)+914.372*(D9900) (-.33) (.80) (3.24) (4.50)
OLS (1981-2000) RRADJ=.845 SD= 172.2071 DW= 1.877
UENGCL/XRELECL=.002824+.915453*(UENGCL(-1)/XRELECL(1)) (.26) (5.22)
+.112831*(D9697)+.033399*(D9900) (4.67) (.61)
OLS (1981-2000) RRADJ=.929 SD= .032179 DW= 3.084
UENGCL/XRELECL=-.000455+.994065*(UENGCL(-1)/XRELECL(-1))+.110778*(D9697) (-.05) (8.50) (4.72)
OLS (1981-2000) RRADJ=.932 SD= .031580 DW= 3.25
XRNGCL/(UROPCL)=.507197+.526103*(XRNGCL(-1)/(UROPCL(-1))) (2.27) (2.56)
OLS (1981-2000) RRADJ=.227 SD= .139705 DW= 2.056
LOG(PECLP)=-2.59383+.904840*LOG(PIFSP)+.596178*LOG(PECLP(-1)) (-.79) (1.30) (3.27)
OLS (1981-2000) RRADJ=.395 SD= .773880 DW= 2.154 LOG(PECLO)=-.917633+1.17113*LOG(PIFSO)
(-2.28) (13.92)
OLS (1981-2000) RRADJ=.91 SD= .106127 DW= 1.61
XRELECL=-419.162+.000387*(GDPCL) (-3.89) (22.82)
OLS (1981-2000) RRADJ=.965 SD= 150.8131 DW= .68
XRELECL=-34.8856+.0000291*(GDPCL)-.206906*(PMOPCL)+1.00974*(XRELECL(-1)) (-.52) (1.23) (-1.02) (15.86)
OLS (1981-2000) RRADJ=.998 SD= 38.9190 DW= 2.012
China, Mainland (CN)
CFCLCN=104225.9+86.0524*(GDPCN)-2.90792*(CFOPCN)+.940725*(CFCLCN(-1)) (2.57) (2.27) (-2.63) (10.05)
OLS (1981-2000) RRADJ=.912 SD= 13,814.2 DW= 2.655
CFOCCN=546282.8+1.03294*(GDPCN)+.235427*(CFOCCN(-1))-274.678*(TIME) (1.42) (1.16) (1.00) (-1.41) OLS (1981-2000) RRADJ=.374 SD= 788.0422 DW= 2.079
CFOPCN=7544.07+13.7638*(GDPCN)+.636786*(CFOPCN(-1)) (2.42) (3.14) (4.47)
OLS (1982-2000) RRADJ=.997 SD= 2,278.46 DW= 2.012
MCLCN/DCLCN=.000155-.0000463*(PMCLCN/PMOPCN) (.46) (-.19)
+.882580*(MCLCN(-1)/DCLCN(-1))+.001044*(D96) (7.53) (2.30) OLS (1981-2000) RRADJ=.739 SD= .000427 DW= 2.195
MCLCN/DCLCN=.000210-.000104*(PMCLCN(-1)/PMOPCN(-1)) (.62) (-.46)
+.876152*(MCLCN(-1)/DCLCN(-1))+.001066*(D96) (7.47) (2.35) OLS (1981-2000) RRADJ=.742 SD= .000425 DW= 2.194 MOCCN=-26801.9+.211775*(DOCCN)+.848269*(MOCCN(-1)) (-1.75) (1.77) (2.71)
OLS (1981-2000) RRADJ=.85 SD= 6,983.63 DW= 1.376
MOPCN=-14230.1+.223134*(DOPCN)-3199.50*(PMOPCN/PMOPCN(-1)) (-4.10) (13.19) (-1.48)
OLS (1981-2000) RRADJ=.906 SD= 3,199.27 DW= 1.555
UECLCN=11282.5+10.9235*(GDPCN)-2614.88*(PECLCN/PMOPCN)+.840521*(UECLCN(-1)) (2.63) (1.04) (-2.19) (4.82)
OLS (1981-2000) RRADJ=.996 SD= 5,024.44 DW= 1.872
UECLCN=5955.19+10.7390*(GDPCN)-161.256*(PECLCN/PMCLCN)+.859249*(UECLCN(-1)) (1.74) (.93) (-1.16) (4.48)
OLS (1981-2000) RRADJ=.995 SD= 5,503.76 DW= 1.54 -
UEOCCN=-512.849+.141381*(GDPCN)-4.81836*(PEOCCN/PMCLCN) (-1.77) (1.88) (-1.33)
+.986507*(UEOCCN(-1)) (15.93)
OLS (1981-2000) RRADJ=.982 SD= 204.1884 DW= 1.605 UEOPCN/GDPCN=.513759-.312453*(PMOPCN/PMOPCN(-1))
(.75) (-.58)
+.872864*(UEOPCN(-1)/GDPCN(-1)) (23.78)
OLS (1981-2000) RRADJ=.968 SD= .804888 DW= 2.418
UEOPCN/GDPCN=.513759-.312453*(PMOPCN/PMOPCN(-1)) (.75) (-.58)
+.872864*(UEOPCN(-1)/GDPCN(-1)) (23.78)
OLS (1981-2000) RRADJ=.968 SD= .804888 DW= 2.418
UENGCN=-76.2382+.373380*(GDPCN) (-.57) (7.34)
OLS (1981-2000) RRADJ=.736 SD= 266.7647 DW= 1.764
XRELECN=2452.65+6.91377*(GDPCN)+.708610*(XRELECN(-1)) (2.28) (2.23) (4.47)
OLS (1981-2000) RRADJ=.997 SD= 1,458.72 DW= .787
UECLCN=-13530.7+2.98553*(XRELECN)-1480.51*(PECLCN/PMOPCN) (-3.33) (58.77) (-1.39)
OLS (1981-2000) RRADJ=.997 SD= 4,461.35 DW= 1.175 UECLCN=-2555.05+1.66069*(XRELECN)-1911.53*(PECLCN/PMOPCN)
(-.63) (4.96) (-2.42) +.456143*(UECLCN(-1))
(3.98)
OLS (1981-2000) RRADJ=.998 SD= 3,259.80 DW= 2.08
UEOCCN=-574.942+.007029*(XRELECN)-5.07984*(PEOCCN/PMCLCN) (-1.76) (1.85) (-1.38)
+.992070*(UEOCCN(-1)) (15.23)
OLS (1981-2000) RRADJ=.982 SD= 204.7669 DW= 1.622 UEOPCN/XRELECN=10.3659-.021838*(PMOPCN/PMOPCN(-1))
(1.24) (-.95)
+.722295*(UEOPCN(-1)/XRELECN(-1))-.005166*(TIME) (4.90) (-1.23) OLS (1981-2000) RRADJ=.956 SD= .032152 DW= 2.537
UENGCN=255.678+.016878*(XRELECN)-410.966*(PENGCN/PENGCN(-1))+803.116*(D97) (1.03) (7.82) (-1.64) (3.51) OLS (1981-2000) RRADJ=.83 SD= 213.6717 DW= 1.224
CFNGCN=7115.96+2.11213*(GDPCN)-240.109*(PENGCN/PMOPCN) (12.04) (11.41) (-3.84)
OLS (1981-2000) RRADJ=.939 SD= 791.4521 DW= 1.348
CFNGCN=3213.54+1.05803*(GDPCN)-106.460*(PENGCN/PMOPCN) (2.10) (2.52) (-1.46)
+.553180*(CFNGCN(-1)) (2.70)
OLS (1981-2000) RRADJ=.955 SD= 675.8753 DW= 1.674
UENGCN=-99.6290+.015752*(XRELECN)+779.494*(D97) (-.80) (7.35) (3.25)
OLS (1981-2000) RRADJ=.814 SD= 223.9926 DW= 1.265
Germany (DE)
CFCLDE/GDPDE=.003932-.005953*(PMCLDE/PMOPDE) (1.83) (-2.30)
+.867460*(CFCLDE(-1)/GDPDE(-1)) (13.62)
OLS (1981-2000) RRADJ=.972 SD= .001420 DW= .976
CFCLDE=9730.13-13609.5*(PMCLDE/PMOPDE)+.860288*(CFCLDE(-1) (2.36) (-2.95) (14.07)
OLS (1981-2000) RRADJ=.97 SD= 2,771.68 DW= .921
MCLDE=4603.58+.005477*(GDPDE)-10551.4*(PMCLDE/PMOPDE) (1.79) (3.92) (-3.15)
OLS (1981-2000) RRADJ2=.413 SD= 1,849.23 DW= .884
MCLDE=-2350.38+.002434*(GDPDE)-3339.06*(PMCLDE/PMOPDE)+.841357*(MCLDE(-1)) (-1.17) (2.41) (-1.38) (5.52)
OLS (1981-2000) RRADJ=.785 SD= 1,119.09 DW= 1.827 UECLDE/GDPDE=.003295-.001603*(PMCLDE/PMOCDE)
(.85) (-.97)
+.893879*(UECLDE(-1)/GDPDE(-1)) (7.29)
OLS (1981-2000) RRADJ=.821 SD= .001451 DW= 2.372
MOCDE=1616.27+1.14611*(DOCDE)-6404.34*(PMOCDE/PMOPDE)-.169438*(MOCDE(-1)) (.19) (7.40) (-.80) (-1.26)
OLS (1981-2000) RRADJ=.876 SD= 3,076.17 DW= 1.329
MOCDE=2616.05+.993279*(DOCDE)-8781.53*(PMOCDE/PMOPDE) (.31) (10.17) (-1.11)
OLS (1981-2000) RRADJ=.871 SD= 3,128.11 DW= 1.301
UROCDE=-1289.72+1.01031*(XROPDE) (-.55) (50.10)
OLS (1981-2000) RRADKJ=.992 SD= 452.4452 DW= .308 UROCDE=-601.812+1.00238*(XROPDE)
(-.37) (72.48)
Orrcut (1981-2000) RRADJ=.998 SD= 221.8205 DW= 2.307
CFOPDE=97082.3+.010984*(GDPDE)-6151.49*(PMOPDE/PMNGDE) (16.02) (7.51) (-1.18)
OLS (1981-2000) RRADJ=.753 SD= 3,178.40 DW= 1.109
CFOPDE=67117.8+.007721*(GDPDE)-8206.74*(PMOPDE/PMNGDE) (4.51) (3.85) (-1.70)
+.331756*(CFOPDE(-1)) (2.17)
OLS (1981-2000) RRADJ=.797 SD= 2,881.08 DW= 1.375
MOPDE/DOPDE=.095331-.024545*(PMOPDE/PMNGDE)+.535153*(MOPDE(-1)/DOPDE(-1)) (2.95) (-1.35) (3.36)
OLS (1981-2000) RRADJ=.428 SD= .010785 DW= 2.085
UEOPDE/GDPDE=.000504-.000526*(PMOPDE/PMNGDE) (1.88) (-1.60)
+.814782*(UEOPDE(-1)/GDPDE(-1)) (15.96)
OLS (1981-2000) RRADJ=.931 SD= .000198 DW= 1.347
UROPDE/XROPDE=-.000172+.943947*(UROPDE(-1)/XROPDE(-1)) (-.83) (18.87)
OLS (1981-2000) RRADJ=.949 SD= .000663 DW= 1.257 XROPDE=256.222+.227716*(DOPDE)+.444901*(XROPDE(-1)) (.01) (3.54) (4.72)
OLS (1981-2000) RRADJ=.654 SD= 3,026.44 DW= 2.261
CFNGDE=3537.43+.004074*(GDPDE)-2059.65*(PMNGDE/PMOPDE) (1.06) (2.03) (-1.05)
+.755732*(CFNGDE(-1)) (5.06)
OLS (1981-2000) RRADJ=.936 SD= 1,809.57 DW= 2.091
MNGDE=-16962.4+1.07208*(DNGDE)-1522.67*(PMNGDE/PMOPDE) (-3.73) (18.63) (-.58)
OLS (1981-2000) RRADJ=.948 SD= 2,476.88 DW= 1.661
MNGDE=-13556.5+1.02320*(DNGDE)-.137303*(PMNGDE*EXRIDE) (-3.06) (17.20) (-1.70)
OLS (1981-2000) RRADJ=.955 SD= 2,311.97 DW= 1.906
MNGDE=-5160.12+.519841*(DNGDE)-.146018*(PMNGDE*EXRIDE)+.495894*(MNGDE(-1)) (-1.20) (3.32) (-2.29) (3.37)
OLS (1981-2000) RRADJ=.972 SD= 1,822.40 DW= 1.631
UENGDE/GDPDE=.001323-.000205*(PMNGDE/PMOPDE) (2.91) (-.69)
+.604464*(UENGDE(-1)/GDPDE(-1)) (9.83)
OLS (1981-2000) RRADJ=.839 SD= .000279 DW= 1.77 UENGDE/GDPDE=.001118-0000000*(PMNGDE*EXRIDE)
(5.97) (-2.16)
+.703909*(UENGDE(-1)/GDPDE(-1)) (10.12)
OLS (1981-2000) RRADJ=.871 SD= .000251 DW= 1.765
XRNGDE/(UROPDE)=1.14749+.596998*(XRNGDE(-1)/(UROPDE(-1))) (1.54) (3.11)
OLS (1981-2000) RRADJ=.314 SD= 2.16302 DW= 1.672
LOG(PEDEP)=6.16297+.428018*LOG(PIFSP)-.788534*LOG(EXRIDE) (10.30) (3.34) (-5.03)
OLS (1981-2000) RRADJ=.552 SD= .114254 DW= 1.424 LOG(PEDEG)=-3.67921+1.75014*LOG(PMNGDE)
(-2.13) (5.13)
OLS (1981-2000) RRADJ=.572 SD= .380326 DW= 1.245
LOG(PEDEG)=-2.87896+1.16309*LOG(PMNGDE)+.417493*LOG(PEDEG(-1)) (-1.87) (3.10) (2.57)
OLS (1981-2000) RRADJ=.674 SD= .332003 DW= 1.57
LOG(PEDEO)=-.978575+.521852*LOG(PIFSO)+.654228*LOG(PEDEO(-1)) (-.51) (1.15) (4.02)
OLS (1981-2000) RRADJ=.575 SD= .506112 DW= 1.894
LOG(XRELEDE/GDPDE)=-.086308+.982589*LOG(XRELEDE(-1)/GDPDE(-1)) (-.32) (14.93)
OLS (1981-2000) RRADJ=.921 SD= .044180 DW= 1.186
Denmark (DK)
CFCLDK/GDPDK=.000282+.664358*(CFCLDK(-1)/GDPDK(-1))-.000280*(D83) (1.95) (4.18) (-2.36) OLS (1981-2000) RRADJ=.527 SD= .000116 DW= 1.072
MCLDK=1516.44+.222653*(DCLDK)+.530094*(MCLDK(-1)) (.98) (1.28) (2.09)
OLS (1982-2000) RRADJ=.33 SD= 1,029.37 DW= 1.857
UECLDK/GDPDK=.000566+.548812*(UECLDK(-1)/GDPDK(-1)) (1.75) (2.53)
OLS (1984-2000) RRADJ=.253 SD= .000509 DW= 2.042 MOCDK/DOCDK=.013452-.0000015*(PMOCDK*EXRIDK)
(.41) (-.57)
+.943715*(MOCDK(-1)/DOCDK(-1)) (10.91)
OLS (1981-2000) RRADJ=.927 SD= .048903 DW= 2.842
MOCDK/DOCDK=.013315+.907367*(MOCDK(-1)/DOCDK(-1)) (.42) (15.89)
OLS (1981-2000) RRADJ=.93 SD= .047974 DW= 2.75 UROCDK=133.543+.977228*(XROPDK)
(.58) (35.13)
OLS (1981-2000) RRADJ=.985 SD= 137.1468 DW= 1.178
CFOPDK/GDPDK=.002598-.0000051*(PMOPDK)+.853260*(CFOPDK(-1)/GDPDK(-1)) (2.98) (-.90) (22.41)
OLS (1981-2000) RRADJ=.966 SD= .000754 DW= 1.83 CFOPDK/GDPDK=.004554-.001487*(PMOPDK/PMOCDK) (2.07) (-1.15)
+.801336*(CFOPDK(-1)/GDPDK(-1)) (15.92)
OLS (1981-2000) RRADJ=.967 SD= .000743 DW= 2.072
MOPDK=4617.83+.308937*(DOPDK)-3201.99*(PMOPDK/PMOCDK) (1.28) (1.19) (-3.79)
OLS (1981-2000) RRADJ=.474 SD= 668.2549 DW= 1.137
MOPDK/DOPDK=.468914-.179683*(PMOPDK/PMOCDK)+.306502*(MOPDK(-1)/DOPDK(-1)) (3.69) (-2.56) (1.79)
OLS (1981-2000) RRADJ=.478 SD= .049397 DW= 1.838
XROPDK=671.238+.506531*(DOPDK)+.519594*(XROPDK(-1))-.609725*(MOPDK) (.25) (2.27) (3.99) (-3.42) OLS (1981-2000) RRADJ=.775 SD= 535.9488 DW= 1.873
XROPDK=671.238+.506531*(DOPDK)-.609725*(MOPDK)+.519594*(XROPDK(-1)) (.25) (2.27) (-3.42) (3.99)
OLS (1981-2000) RRADJ=.775 SD= 535.9488 DW= 1.873
XROPDK=-509.935+.577964*(DOPDK-MOPDK)+.533653*(XROPDK(-1)) (-.48) (3.58) (4.30)
OLS (1981-2000) RRADJ=.786 SD= 523.6031 DW= 1.946 CFNGDK/GDPDK=.000265+.936440*(CFNGDK(-1)/GDPDK(-1)) (2.57) (22.00)
OLS (1981-2000) RRADJ=.962 SD= .000234 DW= 1.257
LOG(PEDKP)=-.811694+.832824*LOG(PIFSP)+.357937*LOG(PEDKP(-1)) (-2.49) (9.90) (6.03)
OLS (1981-2000) RRADJ=.944 SD= .075657 DW= 1.849
LOG(PEDKO)=-.781740+1.13575*LOG(PIFSO) (-1.13) (7.90)
OLS (1981-2000) RRADJ=.764 SD= .181425 DW= 1.501 XRELEDK/GDPDK=.000320+.598714*(XRELEDK(-1)/GDPDK(-1)) (1.83) (2.81)
OLS (1984-2000) RRADJ=.301 SD= .000218 DW= 1.862
Spain (ES)
CFCLES=322583.0+.0000828*(GDPES)-82.0775*(PMCLES/PMOPES) (2.98) (1.60) (-.38)
+.659561*(CFCLES(-1))-163.208*(TIME) (6.96) (-2.95)
OLS (1981-2000) RRADJ=.945 SD= 227.4032 DW= 2.818
CFCLES=329569.9+.0000876*(GDPES)+.668772*(CFCLES(-1))-166.864*(TIME) (3.18) (1.80) (7.50) (-3.14) OLS (1981-2000) RRADJ=.948 SD= 221.2195 DW= 2.82
MCLES=12820.1+.437537*(DCLES)-1.06340*(XCLES)-.161768*(PMCLES*EXRIES) (4.44) (3.82) (-6.10) (-1.19)
OLS (1981-2000) RRADJ=.816 SD= 1,008.50 DW= 1.956
MCLES=6194.23+.630928*(DCLES-XCLES)-.327330*(PMCLES*EXRIES) (2.85) (5.59) (-2.19)
OLS (1981-2000) RRADJ=.733 SD= 1,214.51 DW= 1.874
UECLES=8114.93+.000193*(GDPES)-21.9608*(PMCLES) (2.02) (3.29) (-1.15)
OLS (1981-2000) RRADJ=.652 SD= 1,166.26 DW= 1.901
LOG(CFOCES/GDPES)=.000638+1.00785*LOG(CFOCES(-1)/GDPES(-1)) (.00) (25.49)
OLS (1981-2000) RADJ2=.972 SD= .164138 DW= 1.02 MOCES=7531.94+.885939*(DOCES)-1.89604*(XOCES)
(1.49) (10.68) (-3.64)
OLS (1981-2000) RRADJ=.973 SD= 990.7083 DW= 2.937
MOCES=-359.914+1.01077*(DOCES-XOCES) (-.17) (24.68)
OLS (1981-2000) RRADJ=.97 SD= 1,041.83 DW= 2.61
UEOCES=1011514+.001088*(GDPES)-30.5337*(PMOCES)-501.156*(TIME) (1.52) (3.73) (-3.79) (-1.47) OLS (1981-2000) RRADJ=.941 SD= 1,262.42 DW= 1.548 UROCES=2623.47+.962224*(XROPES)
(2.62) (51.69)
OLS (1981-2000) RRADJ=.993 SD= 463.2710 DW= 1.957
CFOPES=2061.39+.001076*(GDPES)-2992.09*(PMOPES/PMOCES) (.90) (21.01) (-2.70)
OLS (1981-2000) RRADJ=.959 SD= 1,475.45 DW= 1.556
CFOPES=-1868.50+.000624*(GDPES)-957.802*(PMOPES/PMOCES)+.483786*(CFOPES(-1)) (-.89) (4.60) (-.92) (3.49)
OLS (1981-2000) RRADJ=.975 SD= 1,146.23 DW= 2.408
MOPES=-14210.8+.854782*(DOPES)-.499680*(XROPES) (-6.21) (9.11) (-4.27)
OLS (1981-2000) RRADJ=.92 SD= 1,051.05 DW= 2.521
MOPES=-13682.2+.629233*(DOPES)-.209232*(XROPES)-2426.76*(PMOPES/PMOCES) (-6.43) (4.40) (-1.15) (-1.98)
OLS (1981-2000) RRADJ=.932 SD= 970.6880 DW= 2.156
MOPES=-11145.7+.518631*(DOPES)-.182456*(XROPES)-2075.57*(PMOPES/PMOCES) (-4.67) (3.58) (-1.08) (-1.80)
+.240704*(MOPES(-1)) (1.90)
UROPES/XROPES=.000152+.895277*(UROPES(-1)/XROPES(-1)) (.54) (11.76)
OLS (1981-2000) RRADJ=.878 SD= .000736 DW= 1.5
XROPES=-10432.3+1.24557*(DOPES)-1.03503*(MOPES) (-1.94) (9.85) (-4.27)
OLS (1981-2000) RRADJ=.93 SD= 1,512.70 DW= 2.583
XROPES=-11852.9+.936471*(DOPES)-.894234*(MOPES)+.349046*(XROPES(-1)) (-2.62) (6.24) (-4.30) (2.90)
OLS (1981-2000) RRADJ=.951 SD= 1,262.44 DW= 2.176
CFNGES=-4168.53+.000139*(GDPES)+.811825*(CFNGES(-1)) (-1.74) (1.75) (4.44)
OLS (1981-2000) RRADJ=.986 SD= 387.9312 DW= 1.488
MNGES=-367.709+1.10800*(DNGES)-1.20223*(XNGES) (-2.88) (73.74) (-9.31)
OLS (1981-2000) RRADJ=.997 SD= 252.4713 DW= 2.277
MNGES=258.243+1.07722*(DNGES)-1.40319*(XNGES)-2.40285*(PMNGES) (.71) (48.83) (-8.54) (-1.81)
OLS (1981-2000) RRADJ=.997 SD= 237.0052 DW= 2.101
MNGES=227.164+1.08301*(DNGES)-1.43660*(XNGES)-.020977*(PMNGES*EXRIES) (.75) (60.06) (-8.91) (-2.13)
OLS (1981-2000) RRADJ=.997 SD= 229.8036 DW= 2.241 XRNGES=-20.6802+.940580*(UROPES*(-1))
(-1.40) (10.82)
OLS (1981-2000) RRADJ=.859 SD= 36.1596 DW= .5
XRNGES=-17.4953+.483053*(UROPES*(-1))+.509056*(XRNGES(-1)) (-1.84) (4.59) (5.14)
OLS (1981-2000) RRADJ=.942 SD= 23.2888 DW= 1.6 XRELEES=608.802+.000298*(GDPES)
(1.88) (37.15)
OLS (1981-2000) RRADJ=.986 SD= 232.4150 DW= 1.476
Finland (FI)
UECLFI/XRELEFI=.884971-.0000481*(PMCLFI*EXRIFI) (5.14) (-3.14)
OLS (1981-2000) RRADJ=.318 SD= .142788 DW= 1.09 MOCFI=4564.31+.680362*(DOCFI)-1568.12*(PMOCFI/PMOPFI) (1.58) (3.89) (-1.06)
OLS (1981-2000) RRADJ=.646 SD= 641.4169 DW= 2.602
UROCFI=692.825+.958005*(XROPFI) (3.29) (52.15)
OLS (1981-2000) RRADJ=.993 SD= 102.9645 DW= .938
CFOPFI/GDPFI=.001533-.0000146*(PMOPFI)+.974769*(CFOPFI(-1)/GDPFI(-1)) (1.30) (-2.54) (15.05)
OLS (1981-2000) RRADJ=.927 SD= .000818 DW= 1.623
CFOPFI/GDPFI=.001826-.0000001*(PMOPFI*EXRIFI)+.934170*(CFOPFI(-1)/GDPFI(-1)) (1.53) (-2.59) (15.66)
OLS (1981-2000) RRADJ=.928 SD= .000814 DW= 1.554
MOPFI=3046.77+.141098*(DOPFI)-11.8655*(PMOPFI) (2.16) (1.75) (-3.48)
OLS (1981-2000) RRADJ=.54 SD= 483.1995 DW= 2.103
CFNGFI/GDPFI=.001006-0000000*(PMNGFI*EXRIFI)+.712851*(CFNGFI(-1)/GDPFI(-1)) (3.01) (-2.55) (6.57)
OLS (1981-2000) RRADJ=.826 SD= .000207 DW= 2.304
MNGFI=-7.43488+1.00226*(DNGFI) (-16.05) (4817.27)
OLS (1981-2000) RADJ=1. SD= .935746 DW= .567
UENGFI=-139.513+.058470*(XRELEFI)+.603451*(UENGFI(-1)) (-.87) (1.14) (3.04)
OLS (1981-2000) RRADJ=.503 SD= 71.3977 DW= 1.322 XRNGFI=-.135798+.678197*(UROPFI*(-1))
(-.98) (28.35)
OLS (1981-2000) RRADJ=.977 SD= .380443 DW= 1.947 LOG(PEFIP)=1.16240+.765223*LOG(PIFSP)
(2.88) (9.08)
XRELEFI=1726.21+.004161*(GDPFI)-3.46334*(PMOPFI (4.09) (5.92) (-2.60)
OLS (1981-2000) RRADJ=.732 SD= 199.6915 DW= 1.045
France (FR)
CFCLFR/GDPFR=.000143-.000274*(PMCLFR/PMOPFR)+.995126*(CFCLFR(-1)/GDPFR(-1)) (1.10) (-2.47) (25.32)
OLS (1981-2000) RRADJ=.972 SD= .000110 DW= 1.515
MCLFR=14401.9+.183851*(DCLFR)-6575.05*(PMCLFR/PMOPFR) (5.17) (2.24) (-3.40)
OLS (1981-2000) RRADJ=.547 SD= 1,803.10 DW= 1.531
MCLFR=9759.05+.082000*(DCLFR)-4231.86*(PMCLFR/PMOPFR)+.366932*(MCLFR(-1)) (2.93) (.93) (-2.04) (2.14)
OLS (1981-2000) RRADJ=.625 SD= 1,639.25 DW= 1.887 UECLFR/XRELEFR=.030282+.807883*(UECLFR(-1)/XRELEFR(-1))
(1.22) (12.10)
OLS (1981-2000) RRADJ=.884 SD= .057871 DW= 2.202
MOCFR=-996.600+1.03845*(DOCFR)-1.09528*(XOCFR)-18.7010*(PMOCFR) (-.12) (13.40) (-1.44) (-2.10)
OLS (1981-2000) RRADJ=.953 SD= 1,453.01 DW= 2.214 UROCFR=-207.228+.980843*(XROPFR)
(-.17) (67.46)
OLS (1981-2000) RRADJ=.996 SD= 407.4584 DW= .464
CFOPFR=23951.2+.004759*(GDPFR)-14.4264*(PMOPFR)+.519351*(CFOPFR(-1)) (4.58) (4.48) (-1.11) (5.69)
OLS (1981-2000) RRADJ=.915 SD= 1,179.88 DW= 1.913
CFOPFR=25470.0+.005077*(GDPFR)-.075925*(PMOPFR*EXRIFR)+.477074*(CFOPFR(-1)) (4.68) (5.71) (-1.06) (6.27)
OLS (1981-2000) RRADJ=.914 SD= 1,183.56 DW= 1.925
MOPFR=17934.0+.615158*(DOPFR)-.620831*(XROPFR)-63.4973*(PMOPFR) (1.81) (3.14) (-3.25) (-3.38) OLS (1981-2000) RRADJ=.636 SD= 2,294.94 DW= 1.418
MOPFR=3561.35+.594774*(DOPFR)-.565291*(XROPFR)-37.6958*(PMOPFR) (.42) (4.00) (-3.89) (-2.37)
+.395637*(MOPFR(-1)) (3.60)
OLS (1981-2000) RRADJ=.792 SD= 1,736.20 DW= 2.71
UEOPFR/XRELEFR=.027125-.000142*(PMOPFR)+.641725*(UEOPFR(-1)/XRELEFR(-1)) (1.13) (-.61) (10.16)
OLS (1981-2000) RRADJ=.921 SD= .020192 DW= 2.519
UEOPFR/XRELEFR=.038628-.024572*(PMOPFR/PMNGFR) (.91) (-.61)
+.621156*(UEOPFR(-1)/XRELEFR(-1)) (14.26)
OLS (1981-2000) RRADJ=.921 SD= .020192 DW= 2.384
UEOPFR*(-1)/XRELEFR=.022999-.0000010*(PMOPFR*EXRIFR) (1.80) (-.90)
+.633837*(UEOPFR(-1)/XRELEFR(-1)) (13.43)
OLS (1981-2000) RRADJ=.923 SD= .019949 DW= 2.647
UROPFR/XROPFR=-.0000269+.954741*(UROPFR(-1)/XROPFR(-1)) (-.51) (18.29)
OLS (1981-2000) RRADJ=.946 SD= .000140 DW= .959 XROPFR=-2063.94+.938240*(DOPFR)-.543101*(MOPFR)
(-.21) (10.73) (-3.92)
OLS (1981-2000) RRADJ=.872 SD= 2,298.74 DW= 2.219
CFNGFR=-2009.20+.003176*(GDPFR)+.655616*(CFNGFR(-1)) (-.91) (1.83) (3.49)
OLS (1981-2000) RRADJ=.943 SD= 982.0617 DW= 2.069
MNGFR=12299.6+.879205*(DNGFR)-1.12903*(XNGFR)-8070.54*(PMNGFR/PMOPFR) (1.90) (5.60) (-2.06) (-2.30)
OLS (1981-2000) RRADJ=.916 SD= 1,644.42 DW= 1.904 UENGFR/XRELEFR=.004365+.732323*(UENGFR(-1)/XRELEFR(-1)) (2.34) (9.75)
OLS (1981-2000) RRADJ=.832 SD= .004544 DW= .7 XRNGFR/(UROPFR)=.081456+.939060*(XRNGFR(-1)/(UROPFR(-1))) (1.25) (12.62)
LOG(PEFRP)=1.21825+.730471*LOG(PIFSP) (4.15) (11.94)
OLS (1981-2000) RRADJ=.882 SD= .069001 DW= .856
LOG(PEFRP)=.770093+.637547*LOG(PIFSP)+.189164*LOG(PEFRP(-1)) (2.30) (9.13) (2.20)
OLS (1981-2000) RRADJ=.902 SD= .062657 DW= .972 XRELEFR=-15680.6+.015180*(GDPFR)-24.7592*(PMOPFR) (-3.47) (16.04) (-1.83)
OLS (1981-2000) RRADJ=.957 SD= 1,505.50 DW= .757
XRELEFR=-385.738+.002189*(GDPFR)-3.48825*(PMOPFR)+.830950*(XRELEFR(-1)) (-.13) (1.22) (-.49) (7.50)
OLS (1981-2000) RRADJ=.99 SD= 730.4806 DW= 1.941
U.K. (GB)
CFCLGB/GDPGB=2.57682-.003654*(PMCLGB/PMOPGB) (4.49) (-2.38)
+.248329*(CFCLGB(-1)/GDPGB(-1))-.001285*(TIME) (1.33) (-4.48) OLS (1981-2000) RRADJ=.982 SD= .001300 DW= 1.987
MCLGB=7807.07-39.7337*(PMCLGB)+.707807*(MCLGB(-1)) (1.85) (-1.57) (4.36)
OLS (1981-2000) RRADJ=.839 SD= 1,562.64 DW= 1.611
MCLGB/DCLGB=.133045-.114063*(PMCLGB/PMCLGB(-1)) (2.13) (-1.94)
+.974147*(MCLGB(-1)/DCLGB(-1)) (12.41)
OLS (1981-2000) RRADJ=.899 SD= .035470 DW= 1.671
UECLGB/XRELEGB=.330665-.350730*(PMCLGB/PMOPGB) (1.45) (-1.47)
+.982218*(UECLGB(-1)/XRELEGB(-1)) (7.13)
OLS (1981-2000) RRADJ=.75 SD= .202617 DW= 2.238
UECLGB/XRELEGB=65.7895-.379679*(PMCLGB/PMOPGB) (2.40) (-1.79)
+.578754*(UECLGB(-1)/XRELEGB(-1))-.032550*(TIME) (2.78) (-2.39) OLS (1981-2000) RRADJ=.804 SD= .179264 DW= 2.066
MOCGB=2011.79+1.00550*(DOCGB)-1.01100*(XOCGB)-1809.84*(PMOCGB/PMOPGB) (.48) (25.01) (-25.71) (-1.61)
OLS (1981-2000) RRADJ=.98 SD= 1,405.00 DW= 2.241
MOCGB=1501.37+1.00033*(DOCGB)-1.00278*(XOCGB)-.125323*(PMOCGB*EXRIGB) (.37) (23.46) (-23.91) (-1.55)
OLS (1981-2000) RRADJ=.979 SD= 1,412.93 DW= 2.352
UROCGB=-1914.44+1.03269*(XROPGB) (-.62) (30.03)
OLS (1981-2000) RRADJ=.979 SD= 1,157.51 DW= 2.089 CFOPGB=16771.4+.016303*(GDPGB)-1902.22*(PMOPGB/PMNGGB) (2.64) (1.42) (-1.66)
+.661127*(CFOPGB(-1)) (4.16)
OLS (1981-2000) RRADJ=.938 SD= 1,393.94 DW= 1.669
MOPGB=3404.90+.904393*(DOPGB)-.888717*(XROPGB)-1835.31*(PMOPGB/PMNGGB) (.42) (8.47) (-12.51) (-1.68)
OLS (1981-2000) RRADJ=.892 SD= 1,090.71 DW= 2.157
UEOPGB/XRELEGB=69.4781-.244426*(PMOPGB/PMNGGB)-.034643*(TIME) (4.92) (-2.26) (-4.91) OLS (1981-2000) RRADJ=.572 SD= .127063 DW= 1.886
UEOPGB/XRELEGB=41.8829-.068142*(PMOPGB/PMNGGB)-.020903*(TIME) (7.19) (-1.58) (-7.20)
+.564521*(D84) (10.48)
OLS (1981-2000) RRADJ=.942 SD= .046719 DW= 1.655 XROPGB=-10543.0+1.12330*(DOPGB)-1.00224*(MOPGB)
(-2.27) (24.54) (-11.93)
OLS (1981-2000) RRAD=.975 SD= 1,216.84 DW= 2.072 CFNGGB=10936.5+.060816*(GDPGB)
(4.38) (13.62)
MNGGB=378797.8+.205891*(DNGGB)+.824568*(MNGGB(-1))-190.022*(TIME) (2.44) (2.25) (6.77) (-2.45) OLS (1981-2000) RRADJ=.958 SD= 809.5699 DW= 1.899
XRNGGB=-14.8721+.746012*(UROPGB*(-1)) (-2.84) (17.06)
OLS (1981-2000) RRADJ=.938 SD= 17.0091 DW= .386 LOG(PEGBP)=.255812+.622223*LOG(PIFSP)+.321081*LOG(PEGBP(-1)) (.35) (4.86) (2.27)
OLS (1981-2000) RRADJ=.676 SD= .135254 DW= 1.144
LOG(XRELEGB)=3.92228+.474220*LOG(GDPGB) (11.46) (18.30)
OLS (1981-2000) RRADJ=.946 SD= .017284 DW= 1.336
Greece (GR)
CFCLGR=302.601-.009865*(PMCLGR*EXRIGR)+.808366*(CFCLGR(-1)) (2.78) (-1.48) (7.68)
OLS (1981-2000) RRADJ=.751 SD= 112.7971 DW= 1.746
MCLGR=422.638+.466900*(DCLGR)-.450596*(XCLGR) (1.71) (2.97) (-2.67)
OLS (1981-2000) RRADJ=.298 SD= 241.8509 DW= 1.724
MCLGR=974.636+.357151*(DCLGR)-.363831*(XCLGR)-3.59227*(PMCLGR) (2.24) (2.12) (-2.11) (-1.51)
OLS (1981-2000) RRADJ=.347 SD= 233.1650 DW= 1.388
UECLGR=1718.20-354.477*(PMCLGR/PMOPGR)+.817398*(UECLGR(-1)) (3.74) (-2.17) (15.27)
OLS (1981-2000) RRADJ=.962 SD= 279.3977 DW= 2.06
MOCGR=1983.96+.909865*(DOCGR)-1.03610*(XOCGR)-236.725*(PMOCGR/PMOPGR) (.67) (5.87) (-1.42) (-1.05)
OLS (1981-2000) RRADJ=.821 SD= 1,038.07 DW= 2.179
UROCGR=713.114+.937654*(XROPGR) (3.58) (80.81)
OLS (1981-2000) RRADJ=.997 SD= 142.8500 DW= .566
CFOPGR=-4175.91+.022364*(GDPGR)-5.64706*(PMOPGR) (-5.39) (16.21) (-1.79)
OLS (1981-2000) RRADJ=.963 SD= 318.1625 DW= 1.305
CFOPGR=-5146.06+.023532*(GDPGR)-.028006*(PMOPGR*EXRIGR) (-4.85) (13.67) (-2.05)
OLS (1981-2000) RRADJ=.965 SD= 310.6647 DW= 1.33
CFOPGR=-3443.99+.013803*(GDPGR)-.022362*(PMOPGR*EXRIGR)+.469118*(CFOPGR(-1)) (-2.81) (2.97) (-1.78) (2.22)
OLS (1981-2000) RRADJ=.971 SD= 279.9337 DW= 2.05
MOPGR=-1458.28+.515613*(DOPGR)-.297505*(XROPGR)-6.82049*(PMOPGR) (-.78) (3.05) (-2.38) (-1.09)
+.352446*(MOPGR(-1)) (2.13)
OLS (1981-2000) RRADJ=.508 SD= 707.3190 DW= 1.453
MOPGR=-932.418+.509936*(DOPGR)-.334737*(XROPGR)-.025398*(PMOPGR*PMOCGR) (-.54) (3.12) (-3.03) (-1.52)
+.344299*(MOPGR(-1)) (2.18)
OLS (1981-2000) RRADJ=.54 SD= 683.7419 DW= 1.633
UEOPGR=399.895+.160188*(XRELEGR)+.481470*(UEOPGR(-1)) (2.28) (4.60) (4.34)
OLS (1981-2000) RRADJ=.776 SD= 93.7895 DW= 1.825 XROPGR=-3872.50+1.34488*(DOPGR)-1.07249*(MOPGR)
(-1.36) (9.07) (-3.90)
OLS (1981-2000) RRADJ=.821 SD= 1,194.86 DW= 1.969
XROPGR=-742.846+.857670*(DOPGR-MOPGR)+.051422*(PMOPGR*EXRIGR) (-.32) (4.23) (1.52)
+.275036*(XROPGR(-1)) (1.94)
OLS (1981-2000) RRADJ=.862 SD= 1,048.77 DW= 1.937 CFNGGR=-272.050+.000456*(GDPGR)+.739509*(CFNGGR(-1)) (-1.83) (1.97) (3.88)
OLS (1981-2000) RRADJ=.741 SD= 57.7380 DW= 1.49 MNGGR=-8.28419+1.02751*(DNGGR)-1.06558*(XNGGR)
(-1.86) (225.55) (-23.48)
XRNGGR=2.68375+.570454*(UROPGR*(-1)) (2.92) (9.80)
OLS (1981-2000) RRADJ=.833 SD= 2.45322 DW= .509
XRELEGR=-2812.35+.008380*(GDPGR) (-10.18) (20.99)
OLS (1981-2000) RRADJ=.959 SD= 137.7504 DW= .872 XRELEGR=-1260.31+.003581*(GDPGR)+.617399*(XRELEGR(-1)) (-2.92) (2.95) (4.07)
OLS (1981-2000) RRADJ=.978 SD= 100.8849 DW= 1.841
China, Honk Kong (HK)
MCLHK=-.193982+1.00003*(DCLHK) (-1.52) (36241.81)
OLS (1981-2000) RRADJ=1. SD= .220749 DW= 2.343 UECLHK/GDPHK=.001966+.765099*(UECLHK(-1)/GDPHK(-1) (2.70) (8.34)
OLS (1982-2000) RRADJ=.792 SD= .001220 DW= 1.29
CFOPHK=1095.17+.002891*(GDPHK)-1293.67*(PMOPHK/PMOPHK(-1)) (1.02) (1.06) (-1.76)
+.761952*(CFOPHK(-1)) (3.18)
OLS (1981-2000) RRADJ=.899 SD= 674.7637 DW= 2.026
MOPHK=194.005+1.14157*(DOPHK) (.56) (35.05)
OLS (1981-2000) RRADJ=.985 SD= 657.1160 DW= .995
MOPHK=538.883+.855286*(DOPHK)-.040346*(PMOPHK*EXRIHK)+.263398*(MOPHK(-1)) (.75) (13.51) (-.67) (4.92)
OLS (1981-2000) RRADJ=.994 SD= 425.1957 DW= 2.011
MOPHK=569.253+.854249*(DOPHK)-3.88412*(PMOPHK)+.261775*(MOPHK(-1)) (.97) (14.24) (-.90) (5.23)
OLS (1981-2000) RRADJ=.994 SD= 420.6276 DW= 2.073
UEOPHK=-546.216+.200832*(XRELEHK)+.952419*(UEOPHK(-1)) (-1.10) (1.06) (8.39)
OLS (1981-2000) RRADJ=.929 SD= 221.1918 DW= 1.544
CFNGHK=-205.141+.000889*(GDPHK) (-17.51) (47.63)
OLS (1981-2000) RRADJ=.992 SD= 14.4459 DW= 1.631
CFNGHK=-52.7852+.000297*(GDPHK)+.667194*(CFNGHK(-1)) (-2.53) (3.78) (7.59)
OLS (1981-2000) RRADJ=.998 SD= 7.09570 DW= 1.17 MNGHK=-228.725+.875099*(DNGHK)
(-7.79) (37.96)
OLS (1981-2000) RRADJ=.987 SD= 100.3916 DW= .222
XRELEHK=341.847+.000314*(GDPHK)+.788903*(XRELEHK(-1)) (1.82) (.57) (4.91)
OLS (1981-2000) RRADJ=.851 SD= 219.9364 DW= 1.898
Indonesia (ID)
CFCLID/GDPID=.000695-.001131*(PMCLID/PMCLID(-1))+1.30105*(CFCLID(-1)/GDPID(-1)) (.61) (-1.80) (15.12)
+.008898*(D96)-.011491*(D97) (3.90) (-4.68)
OLS (1981-2000) RRADJ=.934 SD= .002211 DW= 1.154
UECLID=-159.813+.531947*(XRELE)-33.7635*(PMCLID/PMOPID)+.530037*(UECLID(-1)) (-.59) (2.93) (-1.68) (2.81)
OLS (1981-2000) RRADJ=.979 SD= 371.7389 DW= 1.304
MCLID/GDPID=.001734-.000121*(PMCLID/PMOPID)+.613022*(MCLID(-1)/GDPID(-1)) (1.73) (-1.14) (3.27)
OLS (1981-1999) RRADJ=.523 SD= .002230 DW= 1.17
UECLID=163.006+.993005*(XRELEID)-1022.69*(PMCLID/PMOPID) (.52) (19.91) (-3.54)
OLS (1986-2000) RRADJ=.97 SD= 368.3820 DW= 1.611
MOCID=-13814.7+.228517*(DOCID)-637.795*(PMOCID/PMCLID)+.464640*(MOCID(-1)) (-3.83) (4.41) (-3.78) (4.08)
OLS (1983-2000) RRADJ=.93 SD= 948.0662 DW= 1.52
UROCID=-273.548+1.04735*(XROPID) (-.41) (55.44)
OLS (1981-2000) RRADJ=.994 SD= 931.1627 DW= 1.794
CFOPID=-804.486+.047392*(GDPID)+.863539*(CFOPID(-1)) (-.97) (2.18) (8.94)
OLS (1981-2000) RRADJ=.986 SD= 1,077.43 DW= 1.345
MOPID=918.060+1.00808*(DOPID)-1.01458*(XROPID)-379.481*(PMOPID/PMOPID(-1)) (.80) (17.73) (-18.82) (-1.07)
OLS (1981-2000) RRADJ=.953 SD= 972.3090 DW= 2.114
UEOPID=1772.78+.115806*(XRELEID)-162.967*(PMOPID/PMCLID)+.500159*(UEOPID(-1)) (2.41) (1.18) (-1.03) (2.25)
OLS (1981-2000) RRADJ=.252 SD= 873.3966 DW= 1.672
XROPID=-1991.88+.355704*(DOPID)+1823.69*(PMOPID/PEOPID)+.586326*(XROPID(-1)) (-.67) (1.91) (1.62) (2.92)
OLS (1981-2000) RRADJ=.947 SD= 2,599.13 DW= 1.488
XROPID=-7147.37+.871840*(DOPID)+4136.18*(PMOPID/PEOPID) (-2.50) (12.44) (4.30)
OLS (1981-2000) RRADJ=.924 SD= 3,120.42 DW= 1.041 CFNGID=1766.03+.049010*(GDPID)-1428.33*(PENGID/PEOPID) (2.00) (15.10) (-2.40)
OLS (1981-2000) RRADJ=.938 SD= 510.5273 DW= 1.184
CFNGID=1067.31+.025495*(GDPID)-695.435*(PENGID/PEOPID)+.473135*(CFNGID(-1)) (1.32) (2.67) (-1.18) (2.58)
OLS (1981-2000) RRADJ=.954 SD= 442.4737 DW= 1.47 UENGID=-1471.44+.747141*(XRELEID)+.630048*(UENGID(-1)) (-1.33) (1.92) (2.62)
-.028303*(PENGID*EXRIID) (-1.55)
OLS (1987-2000) RRADJ=.919 SD= 784.0886 DW= 1.468
UENGID=-1471.44+.747141*(XRELEID)+.630048*(-1*UENGID(-1)) (-1.33) (1.92) (2.62)
-.028303*(PENGID*EXRIID) (-1.55)
OLS (1987-2000) RRADJ=.919 SD= 784.0886 DW= 1.468
XRELEID=-392.998+.007773*(GDPID)+.938414*(XRELEID(-1)) (-2.12) (2.98) (19.85)
OLS (1981-2000) RRADJ=.996 SD= 143.8145 DW= 2.213
Ireland (IE)
CFCLIE/GDPIE=-.003827+1.02165*(CFCLIE(-1)/GDPIE(-1)) (-1.08) (16.48)
OLS (1981-2000) RRADJ=.934 SD= .006856 DW= 1.845 MCLIE=1084.44+.547243*(DCLIE)-8.15723*(PMCLIE)
(2.63) (6.99) (-3.67)
OLS (1981-2000) RRADJ=.843 SD= 201.0574 DW= 2.312
MCLIE=1219.35+.483261*(DCLIE)-.076890*(PMCLIE*EXRIIE) (3.53) (6.72) (-4.90)
OLS (1981-2000) RRADJ=.884 SD= 173.2907 DW= 2.563
UECLIE=1056.95+.035348*(XRELEIE)-2.91849*(PMCLIE)+1142.18*(D8687) (3.55) (1.13) (-1.38) (9.86) OLS (1981-2000) RRADJ=.96 SD= 123.7479 DW= 1.3
UECLIE=792.448+.045602*(XRELEIE)-2.51886*(PMCLIE)+.335232*(UECLIE(-1)) (4.22) (2.39) (-1.96) (5.31)
+728.388*(D8687) (6.94)
OLS (1981-2000) RRADJ=.985 SD= 75.2824 DW= 2.007
MOCIE=539.207+.866370*(DOCIE)-.023643*(PMOCIE*EXRIIE) (2.91) (16.45) (-2.53)
OLS (1981-2000) RRADJ=.95 SD= 170.5305 DW= 1.683 UROCIE=21.7442+.997067*(XROPIE)
(2.12) (198.04)
OLS (1981-2000) RRADJ=1. SD= 17.2217 DW= 1.834
CFOPIE=392.534+.043988*(GDPIE)-.011122*(PMOPIE*EXRIIE)+.662720*(CFOPIE(-1)) (1.67) (3.59) (-1.21) (5.06) OLS (1981-2000) RRADJ=.987 SD= 127.4429 DW= 2.207
MOPIE=-4.00005+.978479*(DOPIE)-.798181*(XROPIE)-1.28965*(PMOPIE) (-.01) (14.93) (-5.65) (-.78) OLS (1981-2000) RRADJ=.966 SD= 181.8020 DW= 2.37
MOPIE=-194.399+.966917*(DOPIE)-.743599*(XROPIE) (-.94) (15.33) (-6.12)
OLS (1981-2000) RRADJ=.967 SD= 179.6986 DW= 2.242
XROPIE=-477.175+1.04082*(DOPIE)-.925301*(MOPIE) (-2.32) (10.59) (-6.12)
OLS (1981-2000) RRADJ=.935 SD= 200.4550 DW= 1.637
XROPIE=-202.403+1.16208*(DOPIE-MOPIE) (-1.42) (15.56)
OLS (1981-2000) RRADJ=.927 SD= 212.0393 DW= 2.001 CFNGIE=28.4108+.003227*(GDPIE)+.922586*(CFNGIE(-1))
(.68) (1.06) (9.96)
OLS (1981-2000) RRADJ=.973 SD= 58.2259 DW= 2.525
MNGIE=-76.1746+1.00917*(DNGIE)-.965296*(XNGIE) (-1.53) (71.33) (-44.63)
OLS (1981-2000) RRADJ=.998 SD= 36.2980 DW= 1.38
MNGIE=-87.2695+1.01032*(DNGIE)-.959053*(XNGIE)-.0000865*(PMNGIE*EXRIIE) (-1.62) (69.58) (-39.72) (-.63)
OLS (1981-2000) RRADJ=.997 SD= 36.9594 DW= 1.407 LOG(PEIEP)=-1.65349+1.35816*LOG(PIFSP)
(-2.55) (10.04)
OLS (1981-2000) RRADJ=.84 SD= .152526 DW= 1.235
Italy (IT)
CFCLIT/GDPIT=.001450-.001095*(PMCLIT/PMOPIT)+.822486*(CFCLIT(-1)/GDPIT(-1)) (1.80) (-1.87) (6.44)
OLS (1981-2000) RRADJ=.764 SD= .000493 DW= 2.454
MCLIT=3803.41+.769073*(DCLIT)-1167.04*(PMCLIT/PMOPIT) (1.65) (5.32) (-1.22)
OLS (1981-2000) RRADJ=.667 SD= 808.9236 DW= 2.193
UECLIT/XRELEIT=.176501-.094341*(PMCLIT/PMOPIT) (3.10) (-2.34)
+.739462*(UECLIT(-1)/XRELEIT(-1)) (6.20)
OLS (1981-2000) RRADJ=.701 SD= .036559 DW= 1.776
MOCIT/DOCIT=1.32697-.0000249*(PMOCIT*EXRIIT)+.841361*(MOCIT(-1)/DOCIT(-1)) (1.46) (-.92) (5.40)
OLS (1981-2000) RRADJ=.61 SD= .583219 DW= 2.064
UROCIT=2299.46+.965763*(XROPIT) (.59) (22.89)
Orrcut (1981-2000) RRADJ=.982 SD= 711.4224 DW= 2.316
UROCIT=9701.00+.890157*(XROPIT (2.05) (17.29)
OLS (1981-2000) RRADJ=.94 SD= 1,250.80 DW= .695
CFOPIT=32347.6+.007523*(GDPIT)-.061513*(PMOPIT*EXRIIT)+.393833*(CFOPIT(-1)) (3.91) (3.23) (-1.26) (2.78)
OLS (1981-2000) RRADJ=.655 SD= 918.3506 DW= 1.542
MOPIT=17914.6+.501770*(DOPIT)-.545298*(XROPIT)-.153594*(PMOPIT*EXRIIT) (1.82) (3.75) (-3.58) (-1.25)
OLS (1981-2000) RRADJ=.535 SD= 1,931.55 DW= 2.4
MOPIT=13428.1+.509067*(DOPIT-XROPIT)-.126757*(PMOPIT*EXRIIT) (4.10) (3.92) (-1.19)
OLS (1981-2000) RRADJ=.556 SD= 1,887.64 DW= 2.414
UEOPIT=2619.64+.505522*(XRELEIT)-.209678*(PMOPIT*EXRIIT)+.565754*(UEOPIT(-1)) (.49) (1.28) (-2.76) (3.51)
OLS (1981-2000) RRADJ=.803 SD= 1,315.66 DW= 1.96
XROPIT=17419.9+.825731*(DOPIT)-.784025*(MOPIT) (2.09) (9.64) (-3.69)
OLS (1981-2000) RRADJ=.829 SD= 2,307.17 DW= 2.522 CFNGIT=-25396.0+.060711*(GDPIT)-.028292*(PMNGIT*EXRIIT) (-12.45) (30.41) (-3.04)
OLS (1981-2000) RRADJ=.987 SD= 770.2720 DW= 2.029
MNGIT=3007.68+1.01415*(DNGIT)-1.18954*(XNGIT) (.95) (18.95) (-3.74)
OLS (1981-2000) RRADJ=.971 SD= 1,652.60 DW= 1.797 UENGIT/XRELEIT=.022958+1.00903*(UENGIT(-1)/XRELEIT(-1)) (.62) (9.27)
OLS (1981-2000) RRADJ=.817 SD= .050705 DW= 1.902
UENGIT/XRELEIT=-10.3218+.758256*(UENGIT(-1)/XRELEIT(-1))+.005238*(TIME) (-1.37) (3.58) (1.37)
OLS (1981-2000) RRADJ=.826 SD= .049519 DW= 1.664
XRNGIT=-8.12341+.726457*(UROPIT*(-1))-114.832*(D85) (-1.78) (8.05) (-10.27)
OLS (1981-2000) RRADJ=.889 SD= 10.8362 DW= .815
XRNGIT=-8.16865+.684983*(UROPIT*(-1))+.108799*(XRNGIT(-1))-115.987*(D85) (-1.84) (7.36) (1.38) (-10.62) OLS (1981-2000) RRADJ=.895 SD= 10.5614 DW= 1.097
LOG(PEITP)=-.862258+.858038*LOG(PIFSP)+.311294*LOG(PEITP(-1)) (-1.92) (8.05) (3.70)
OLS (1981-2000) RRADJ=.889 SD= .101535 DW= 2.183
XRELEIT=8316.48+.009744*(GDPIT)-.051853*(PMOPIT*EXRIIT) (8.49) (10.43) (-2.38)
OLS (1981-2000) RRADJ=.877 SD= 412.6571 DW= 1.057
XRELEIT=4773.32+.005854*(GDPIT)-.041357*(PMOPIT*EXRIIT)+.423695*(XRELEIT(-1)) (3.24) (3.76) (-2.23) (2.89)
OLS (1981-2000) RRADJ=.914 SD= 344.6997 DW= 2.255
Japan (JP)
CFCLJP/GDPJP=2.38742-.001375*(PMCLJP/PMOCJP)+.296231*(CFCLJP(-1)/GDPJP(-1)) (2.09) (-1.08) (1.00)
-.001180*(TIME) (-2.09)
OLS (1981-2000) RRADJ=.927 SD= .002970 DW= 1.759
CFCLJP/GDPJP=3.50564-.001865*(PMCLJP/PMOCJP)-.001733*(TIME) (14.68) (-1.58) (-14.42) OLS (1981-2000) RRADJ=.927 SD= .002970 DW= 1.481
CFCLJP/GDPJP=3.42923-.001913*(PMCLJP(-1)/PMOCJP(-1))-.001695*(TIME) (13.01) (-1.45) (-12.76) OLS (1981-2000) RRADJ=.925 SD= .003001 DW= 1.147
MCLJP=3075.53+.101492*(GDPJP)-2367.86*(PMCLJP/PMOCJP)+.426179*(MCLJP(-1)) (.77) (2.48) (-1.96) (1.79)
OLS (1981-2000) RRADJ=.942 SD= 2,812.93 DW= 1.932
MCLJP=4159.57+.172476*(GDPJP)-3042.11*(PMCLJP/PMOCJP) (1.00) (16.08) (-2.49)
OLS (1981-2000) RRADJ=.934 SD= 2,990.06 DW= 1.372
UECLJP/(GDPJP)=-1.56551-.002502*(PMCLJP/PMOCJP) (-2.09) (-2.17)
+.675952*(UECLJP(-1)/GDPJP(-1)))+.000800*(TIME) (4.00) (2.09)
OLS (1981-2000) RRADJ=.958 SD= .002741 DW= 1.407
CFOCJP=-15835.1+15824.5*(GDPJP/GDPJP(-1))-163.167*(PMOCJP/PMCLJP) (-2.52) (2.65) (-.53)
+.897688*(CFOCJP(-1)) (6.09)
OLS (1981-2000) RADJ2=.741 SD= 453.9125 DW= 1.079
MOCJP=12190.0+.958001*(DOCJP)-2738.90*(PMOCJP/PMCLJP) (1.40) (24.05) (-1.09)
OLS (1981-2000) RRADJ=.969 SD= 4,461.78 DW= 1.845
MCLJP=-16038.9+.898429*(DCLJP)-28.4939*(PMCLJP)+.304060*(MCLJP(-1)) (-3.05) (13.75) (-1.13) (6.22)
OLS (1981-2000) RRADJ=.994 SD= 881.5467 DW= 1.78
MCLJP=-12601.3+.919147*(DCLJP)-.216729*(PMCLJP*EXRIJP)+.225299*(MCLJP(-1)) (-4.64) (20.10) (-3.99) (5.40)
OLS (1981-2000) RRADJ=.997 SD= 649.0358 DW= 2.811
UEOCJP/(GDPJP)=1.27046-.002950*(PMOCJP/PMCLJP) (1.95) (-.96)
+.574013*(UEOCJP(-1)/(GDPJP(-1)))-.000630*(TIME) (2.71) (-1.95) OLS (1981-2000) RRADJ=.69 SD= .005199 DW= 2.324
UROCJP=-7297.78+1.03966*(XROPJP) (-4.23) (115.08)
OLS (1981-2000) RRADJ=.999 SD= 1,007.59 DW= 1.119
CFOPJP=30280.2+.259225*(GDPJP)-9132.49*(PMOPJP/PMNGJP)+.315242*(CFOPJP(-1)) (4.67) (6.18) (-2.50) (2.78)
OLS (1981-2000) RRADJ=.989 SD= 2,568.10 DW= 2.091
MOPJP=9863.98+1.00559*(DOPJP)-1.00779*(XROPJP)-3265.48*(PMOPJP(-1)/PMNGJP(-1)) (2.44) (22.14) (-21.04) (-1.22)
OLS (1981-2000) RＲＡＤＪ=.966 SD= 2,035.18 DW= 2.467
MOPJP/GDPJP=.044659-.039762*(PMOPJP/PMNGJP)+1.02567*(MOPJP(-1)/GDPJP(-1)) (2.73) (-2.60) (7.54)
MOPJP/DOPJP=.089142-.072171*(PMOPJP/PMNGJP)+1.00290*(MOPJP(-1)/DOPJP(-1)) (3.12) (-2.32) (7.77)
OLS (1981-2000) RRADJ=.791 SD= .021327 DW= 1.69
UEOPJP/(GDPJP)=.016661-.004619*(PMOPJP/PMCLJP) (3.58) (-1.15)
+.778600*(UEOPJP(-1)/(GDPJP(-1))) (15.61)
OLS (1981-2000) RRADJ=.941 SD= .005523 DW= 2.584
UEOPJP/(GDPJP)=.018824-.011234*(PMOPJP(-1)/PMCLJP(-1)) (4.13) (-1.82)
+.856810*(UEOPJP(-1)/(GDPJP(-1))) (11.97)
OLS (1981-2000) RRADJ=.947 SD= .005243 DW= 2.664
UROPJP=1798.52+.394299*(XRNGJP)+977.152*(D84) (7.13) (6.00) (6.57)
OLS (1981-2000) RRADJ=.8 SD= 145.0335 DW= 1.449 XROPJP=-20463.7+.434279*(DOPJP)+.573963*(XROPJP(-1)) (-2.37) (7.55) (8.85)
OLS (1981-2000) RRADJ=.97 SD= 4,437.15 DW= 1.187
CFNGJP=-595.537+.006980*(GDPJP)-438.871*(PMNGJP/PMOPJP)+.918837*(CFNGJP(-1)) (-.33) (1.21) (-.50) (10.73)
OLS (1981-2000) RRADJ=.992 SD= 383.1027 DW= 2.445 MNGJP=-5235.74+1.01517*(DNGJP)-1184.01*(PMNGJP/PMOPJP) (-4.56) (95.38) (-1.31)
OLS (1981-2000) RRADJ=.999 SD= 485.2477 DW= 2.142
UENGJP=893.944+.025164*(GDPJP)-3014.58*(PMNGJP/PMOPJP) (.12) (.94) (-.98)
+.754671*(-1*UENGJP(-1)) (3.79)
OLS (1981-2000) RRADJ=.97 SD= 1,509.00 DW= 1.659
UROPJP/XROPJP=.686394+.362238*(UROPJP(-1)/XROPJP(-1))+.003358*(D84) (6.31) (3.67) (3.76)
-.000339*(TIME) (-6.29)
OLS (1981-2000) RRADJ=.939 SD= .000838 DW= 1.473
XRNGJP/(UROPJP)=.786998+.341204*(XRNGJP(-1)/(UROPJP(-1)))-.318030*(D84) (6.14) (3.03) (-5.41)
-.201355*(D89)-.316020*(D96) (-3.40) (-5.31)
OLS (1981-2000) RRADJ=.745 SD= .056351 DW= 2.115
LOG(PEJPP)=-.399410+.463872*(LOG(PIFSP))+.645983*(LOG(EXRIJP))+.480068*(D88) (-.54) (2.23) (4.21) (2.86) -.361165*(D98)
(-2.02)
OLS (1981-2000) RRADJ=.806 SD= .156577 DW= 1.361
LOG(PEJPC)=2.35860+.704544*LOG(PIFSC)+.420055*LOG(PEJPC(-1)) (2.17) (1.83) (2.68)
-.673929*LOG(EXRIJP) (-3.41)
OLS (1981-2000) RRADJ=.736 SD= .154253 DW= 2.031 LOG(PEJPG)=1.09766+.818698*LOG(PMNGJP)
(3.11) (10.94)
OLS (1981-2000) RRADJ=.862 SD= .122081 DW= 1.748
LOG(PEJPO)=1.55351+.684909*LOG(PMOCJP) (4.59) (9.30)
OLS (1981-2000) RRADJ=.818 SD= .151131 DW= 1.754 UECLJP=-978.148+.083901*(XRELEJP)-1023.25*(PMCLJP/PMOCJP) (-.44) (1.21) (-2.70)
+.925224*(UECLJP(-1)) (8.58)
OLS (1981-2000) RRADJ=.991 SD= 933.8451 DW= 1.946
UEOCJP/XRELEJP=.008254-.003671*(PMOCJP/PMCLJP) (.25) (-.21)
+.931922*(UEOCJP(-1)/XRELEJP(-1)) (7.01)
OLS (1981-2000) RRADJ=.714 SD= .031865 DW= 2.635
UEOPJP/XRELEJP=.081230-.027049*(PMOPJP/PMCLJP) (3.25) (-1.26)
+.813604*(UEOPJP(-1)/XRELEJP(-1)) (18.97)
