请问：该VEC结果的解释

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收藏 2012-03-11

Vector Error Correction Estimates
Date: 03/11/12 Time: 20:12
Sample (adjusted): 1993 2010
Included observations: 18 after adjustments
Standard errors in ( ) & t-statistics in [ ]

Cointegrating Eq:       CointEq1       CointEq2       CointEq3

LOG_IR(-1)       1.000000       0.000000       0.000000

LOG_IP(-1)       0.000000       1.000000       0.000000

LOG_PG(-1)       0.000000       0.000000       1.000000

LOG_SZ(-1)       -3.458571       -2.858526       -1.362368
      (0.28273)       (0.22519)       (0.10925)
      [-12.2326]       [-12.6939]       [-12.4697]

RZ(-1)       -0.633781       -0.522529       -0.279406
      (0.08507)       (0.06776)       (0.03287)
      [-7.44969]       [-7.71154]       [-8.49914]

C       23.02698       16.47938       5.285923

上面中为什么有这么多1.0000？
Roots of Characteristic Polynomial
Endogenous variables: LOG_IR LOG_IP LOG_PG LOG_SZ RZ    Exogenous variables:
Lag specification: 1 1
Date: 03/11/12 Time: 20:19

   Root       Modulus

1.000000       1.000000
1.000000       1.000000
-0.487227 - 0.756865i       0.900131
-0.487227 + 0.756865i       0.900131
0.743908 - 0.387911i       0.838972
0.743908 + 0.387911i       0.838972
0.469927 - 0.593432i       0.756962
0.469927 + 0.593432i       0.756962
-0.393595       0.393595
0.226310       0.226310

VEC specification imposes 2 unit root(s).

那这个VEC模型还有效吗？