Unrestricted Cointegration Rank Test (Trace)
Hypothesized Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None 0.677239 46.82885 47.85613 0.0622
At most 1 0.360231 18.55779 29.79707 0.5251
At most 2 0.230022 7.391588 15.49471 0.5326
At most 3 0.033689 0.856739 3.841465 0.3547
Unrestricted Cointegration Rank Test (Maximum Eigenvalue)
Hypothesized Max-Eigen 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None * 0.677239 28.27105 27.58434 0.0408
At most 1 0.360231 11.16620 21.13162 0.6307
At most 2 0.230022 6.534849 14.26460 0.5455
At most 3 0.033689 0.856739 3.841465 0.3547