Date: 08/21/14   Time: 20:09

Sample (adjusted): 1999 2012

Included observations: 14 after adjustments

Trend assumption: No deterministic trend (restricted constant)

Series: LNY LNX1 LNX2 LNX5 LNX6

Lags interval (in first differences): No lags

Unrestricted Cointegration Rank Test (Trace)

Hypothesized

Trace

0.05

No. of CE(s)

Eigenvalue

Statistic

Critical Value

Prob.**

None *

0.980699

113.9494

76.97277

0.0000

At most 1 *

0.899900

58.68317

54.07904

0.0184

At most 2

0.655771

26.46098

35.19275

0.3168

At most 3

0.439130

11.53069

20.26184

0.4918

At most 4

0.217572

3.434951

9.164546

0.5027