Unrestricted Cointegration Rank Test (Trace)
Hypothesized Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None 0.355128 24.53212 29.79707 0.1789
At most 1 0.231421 11.37104 15.49471 0.1897
At most 2 0.109366 3.474666 3.841466 0.0623
Trace test indicates no cointegration 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 0.355128 13.16108 21.13162 0.4375
At most 1 0.231421 7.896370 14.26460 0.3893
At most 2 0.109366 3.474666 3.841466 0.0623
零假设没有协整关系接受了,最多一个协整关系接受了,这是不是矛盾了?请高手解释,在线等……