Unrestricted Cointegration Rank Test (Trace)   
   
Hypothesized  Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
   
None *  0.461927  69.74973  54.07904  0.0011
At most 1  0.232689  34.42337  35.19275  0.0604
At most 2  0.171903  19.32618  20.26184  0.0669
At most 3  0.139663  8.574573  9.164546  0.0646
   
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 *  0.461927  35.32636  28.58808  0.0059
At most 1  0.232689  15.09719  22.29962  0.3671
At most 2  0.171903  10.75161  15.89210  0.2708
At most 3  0.139663  8.574573  9.164546  0.0646
   
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):     
   
LNHPI LNINC_SATT R LNCOST2 C
30.40666 -13.12557 -0.221632 -15.95640  30.30476
-7.578398  24.27294  1.445322 -23.95443 -41.55047
16.58215 -17.30718 -1.042878 -6.910087  91.19895
-6.135661  1.496987  0.563469  18.44280 -72.03640
   
   
Unrestricted Adjustment Coefficients (alpha):     
   
D(LNHPI) -0.003927  0.003535  0.000460 -0.000102
D(LNINC_SATT) -0.002916 -0.002027  0.005589  0.005026
D(R) -0.008677  0.003740  0.006458 -0.047274
D(LNCOST2)  0.003952  0.001643  0.002518 -0.001488
   
   
1 Cointegrating Equation(s):   Log likelihood  584.2797
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNHPI LNINC_SATT R LNCOST2 C
1.000000 -0.431667 -0.007289 -0.524767  0.996649
  (0.11261)  (0.01108)  (0.17563)  (0.47996)
   
Adjustment coefficients (standard error in parentheses)   
D(LNHPI) -0.119405   
  (0.03749)   
D(LNINC_SATT) -0.088656   
  (0.08669)   
D(R) -0.263833   
  (0.56191)   
D(LNCOST2)  0.120172   
  (0.03987)   
   
   
2 Cointegrating Equation(s):   Log likelihood  591.8283
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNHPI LNINC_SATT R LNCOST2 C
1.000000  0.000000  0.021283 -1.098868  0.297863
   (0.01088)  (0.14452)  (0.68559)
0.000000  1.000000  0.066189 -1.329962 -1.618805
   (0.01714)  (0.22776)  (1.08051)
   
Adjustment coefficients (standard error in parentheses)   
D(LNHPI) -0.146194  0.137344  
  (0.03517)  (0.03097)  
D(LNINC_SATT) -0.073291 -0.010942  
  (0.08887)  (0.07826)  
D(R) -0.292176  0.204670  
  (0.57885)  (0.50972)  
D(LNCOST2)  0.107721 -0.011996  
  (0.04042)  (0.03559)  
   
   
3 Cointegrating Equation(s):   Log likelihood  597.2041
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNHPI LNINC_SATT R LNCOST2 C
1.000000  0.000000  0.000000 -2.094490  5.251383
    (0.56716)  (2.67992)
0.000000  1.000000  0.000000 -4.426330  13.78657
    (1.74836)  (8.26130)
0.000000  0.000000  1.000000  46.78038 -232.7466
    (25.0699)  (118.460)
   
Adjustment coefficients (standard error in parentheses)   
D(LNHPI) -0.138574  0.129390  0.005500
  (0.03972)  (0.03650)  (0.00201)
D(LNINC_SATT)  0.019388 -0.107674 -0.008113
  (0.09639)  (0.08856)  (0.00488)
D(R) -0.185092  0.092904  0.000594
  (0.65406)  (0.60092)  (0.03313)
D(LNCOST2)  0.149482 -0.055582 -0.001128
  (0.04387)  (0.04031)  (0.00222)
    求助这个协整方程该如何写，系数是否显著？非常感激！！！