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2011-08-31
Date: 08/31/11   Time: 10:12   
Sample (adjusted): 2008M08 2011M05   
Included observations: 34 after adjustments   
Trend assumption: Linear deterministic trend   
Series: LNCPI LNM1 LNF     
Lags interval (in first differences): 1 to 1   
   
Unrestricted Cointegration Rank Test (Trace)   
   
Hypothesized  Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
   
None *  0.504750  33.82703  29.79707  0.0163
At most 1  0.229769  9.935496  15.49471  0.2857
At most 2  0.030676  1.059300  3.841466  0.3034
   
Trace test indicates 1 cointegrating eqn(s) at the 0.05 level   
* denotes rejection of the hypothesis at the 0.05 level   
**MacKinnon-Haug-Michelis (1999) p-values   
   
Unrestricted Cointegration Rank Test (Maximum Eigenvalue)   
   
Hypothesized  Max-Eigen 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
   
None *  0.504750  23.89153  21.13162  0.0199
At most 1  0.229769  8.876197  14.26460  0.2966
At most 2  0.030676  1.059300  3.841466  0.3034
   
Max-eigenvalue test indicates 1 cointegrating eqn(s) at the 0.05 level   
* denotes rejection of the hypothesis at the 0.05 level   
**MacKinnon-Haug-Michelis (1999) p-values   
   
Unrestricted Cointegrating Coefficients (normalized by b'*S11*b=I):     
   
LNCPI LNM1 LNF  
26.20088 -12.24982  7.034764  
-46.30987 -14.33520  17.85747  
-11.15371 -31.45210  44.44840  
   
   
Unrestricted Adjustment Coefficients (alpha):     
   
D(LNCPI) -0.004252  3.09E-05  0.000398
D(LNM1) -0.000467  0.009278  6.18E-05
D(LNF) -0.004440  0.001676 -0.002197
   
   
1 Cointegrating Equation(s):   Log likelihood  318.3190
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNCPI LNM1 LNF  
1.000000 -0.467535  0.268493  
  (0.24136)  (0.30646)  
   
Adjustment coefficients (standard error in parentheses)   
D(LNCPI) -0.111404   
  (0.02329)   
D(LNM1) -0.012245   
  (0.09421)   
D(LNF) -0.116328   
  (0.06687)   
   
   
2 Cointegrating Equation(s):   Log likelihood  322.7571
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNCPI LNM1 LNF  
1.000000  0.000000 -0.125049  
   (0.04373)  
0.000000  1.000000 -0.841738  
   (0.10933)  
   
Adjustment coefficients (standard error in parentheses)   
D(LNCPI) -0.112837  0.051642  
  (0.04729)  (0.01676)  
D(LNM1) -0.441887 -0.127270  
  (0.16793)  (0.05951)  
D(LNF) -0.193951  0.030359  
  (0.13479)  (0.04777)  
   
请问上面分析对应的协整方程(协整关系)怎么写?
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