The option chosen  are:

h = 17

eps1 = 0.15

hetdat = 1

hetvar = 1

hetomega = 1

hetq = 1

robust = 1 (prewhit =1)

hetvar = 1

The maximum number of breaks is: 5

***********************************************************

Output from the global optimization

***********************************************************

The model with 1breaks has SSR : 0.057609

The dates of the breaks are: 17

The model with 2breaks has SSR : 0.049152

The dates of the breaks are: 17  99

The model with 3breaks has SSR : 0.048936

The dates of the breaks are: 17  56   99

The model with 4breaks has SSR : 0.047923

The dates of the breaks are: 17  56   73  99

The model with 5breaks has SSR : 0.047669

The dates of the breaks are: 17  39   56  73  99

************************************

Output from the testing procedures

************************************

a) supF tests against a fixed number of  breaks

-----------------------------------------

The supF test for 0 versus 1breaks  (scaled by q) is: 9.145

The supF test for 0 versus 2breaks  (scaled by q) is: 20.8609

The supF test for 0 versus 3breaks  (scaled by q) is: 14.2025

The supF test for 0 versus 4breaks  (scaled by q) is: 12.0297

The supF test for 0 versus 5breaks  (scaled by q) is: 10.1033

------------------------------------------------

The critical values at the 10% level are  (for k=1 to 5): 7.04        6.28        5.21        4.41        3.47

The critical values at the 5% level are  (for k=1 to 5): 8.58        7.22        5.96        4.99        3.91

The critical values at the 2.5% level are  (for k=1 to 5): 10.18         8.14         6.72         5.51         4.34

The critical values at the 1% level are  (for k=1 to 5): 12.29         9.36          7.6         6.19         4.91

---------------------------------------------------------

b) Dmax tests against an unknown number  of breaks

---------------------------------------------------------

The UDmax test is: 20.8609

(the critical value at the 10% level is:  7.46)

(the critical value at the 5% level is:  8.88)

(the critical value at the 2.5% level is:  10.39)

(the critical value at the 1% level is:  12.37)

****************************************************************

--------------------------------------

The WDmax test at the 10% level is:  20.8609

--------------------------------------

The WDmax test at the 5% level is:  20.8609

--------------------------------------

The WDmax test at the 2.5% level is:  20.8609

--------------------------------------

The WDmax test at the 1% level is:  20.8609

**************************************************************

supF(l+1|l) tests using global optimizers  under the null

----------------------------------------------------------------

The supF(2|1) test is32.6625

It corresponds to a new break at: 99

The supF(3|2) test is0.86276

It corresponds to a new break at: 56

The supF(4|3) test is6.2289

It corresponds to a new break at: 73

The supF(5|4) test is1.4115

It corresponds to a new break at: 39

***************************************************************

The critical values of supF(l+1|l) at the  10% level are (for i=1 to 5 are: 7.04          8.51         9.41        10.04        10.58

The critical values of supF(l+1|l) at the  5% level are (for i=1 to 5 are: 8.58         10.13        11.14        11.83        12.25

The critical values of supF(l+1|l) at the  2.5% level are (for i=1 to 5 are: 10.18         11.86        12.66         13.4        13.89

The critical values of supF(l+1|l) at the  1% level are (for i=1 to 5 are: 12.29         13.89         14.8        15.28        15.76

*****************************************************************

Output from the application of  Information criteria

---------------------------------------------------------------------

With 0 breaks:

BIC= -7.2114

LWZ= -7.2027

With 1 breaks:

BIC= -7.5257

LWZ= -7.4453

With 2 breaks:

BIC= -7.6025

LWZ= -7.4501

With 3 breaks:

BIC= -7.525

LWZ= -7.3002

With 4 breaks:

BIC= -7.4639

LWZ= -7.1664

With 5 breaks:

BIC= -7.3873

LWZ= -7.0167

The number of breaks chosen by BIC is : 2

The number of breaks chosen by LWZ is : 2

********************************************************************

Output from the sequential procedure at  significance level 10%

-----------------------------------------------------------------------

The first break found is at: 17

The next break found is at: 99

The sequential procedure has reached the  upper limit

------------------------------------------------------------

The sequential procedure estimated the  number of breaks at: 2

********************************************************************

Output from the sequential procedure at  significance level 5%

-----------------------------------------------------------------------

The first break found is at: 17

The next break found is at: 99

The sequential procedure has reached the  upper limit

------------------------------------------------------------

The sequential procedure estimated the  number of breaks at: 2

********************************************************************

Output from the sequential procedure at  significance level 2.5%

-----------------------------------------------------------------------

The sequential procedure has reached the  upper limit

------------------------------------------------------------

The sequential procedure estimated the  number of breaks at: 0

********************************************************************

Output from the sequential procedure at  significance level 1%

-----------------------------------------------------------------------

The sequential procedure has reached the  upper limit

------------------------------------------------------------

The sequential procedure estimated the  number of breaks at: 0

***********************************************

Output from the repartition procedure for  the 10% significance level

***********************************************

Output from the repartition procedure for  the 5% significance level

***********************************************

Output from the repartition procedure for  the 2.5% significance level

**************************************************

The sequential procedure found no break  and

the repartition procedure is skipped.

**************************************************

***********************************************

Output from the repartition procedure for  the 1% significance level

**************************************************

The sequential procedure found no break  and

the repartition procedure is skipped.

**************************************************

******************************************************

Output from the estimation of the model  selected by BIC

------------------------------------------------------------

Number of observations 116

Number of regressors 3

''        ' Estimator'    'SE'        'SE_robust'    't-stat'      'p-val'

'C(1)'    [    0.9008]     [0.0051]    [   0.0106]     [ 84.7218]    [    0]

'C(2)'    [    0.9489]     [0.0023]    [   0.0014]     [673.9774]    [    0]

'C(3)'    [    0.9244]     [0.0051]    [   0.0041]     [224.2574]    [    0]

R2:     0.42597

Variance of s2:    0.00043886

Log likelihood: 285.856

D-W statistics:      1.2372

----------------------------------------------------

Corrected standard errors for the  coefficients

----------------------------------------------------

The corrected standard errors for  coefficient 1 is: 0.014187

The corrected standard errors for  coefficient 2 is: 0.0017498

The corrected standard errors for  coefficient 3 is: 0.0038671

--------------------------------------------------------

Confidence intervals for the break dates

--------------------------------------------------------

The 95% C.I. for the 1th break is: 17 37

The 90% C.I. for the 1th break is: 17 32

The 95% C.I. for the 2th break is: 94 105

The 90% C.I. for the 2th break is: 96 103

***********************************************************

******************************************************

Output from the estimation of the model  selected by the sequential method at significance level 10%

----------------------------------------------------------

Number of observations 116

Number of regressors 3

''        ' Estimator'    'SE'        'SE_robust'    't-stat'      'p-val'

'C(1)'    [    0.9008]     [0.0051]    [   0.0106]     [ 84.7218]    [    0]

'C(2)'    [    0.9489]     [0.0023]    [   0.0014]     [673.9774]    [    0]

'C(3)'    [    0.9244]     [0.0051]    [   0.0041]     [224.2574]    [    0]

R2:     0.42597

Variance of s2:    0.00043886

Log likelihood: 285.856

D-W statistics:      1.2372

----------------------------------------------------

Corrected standard errors for the  coefficients

----------------------------------------------------

The corrected standard errors for  coefficient 1 is: 0.014187

The corrected standard errors for  coefficient 2 is: 0.0017498

The corrected standard errors for  coefficient 3 is: 0.0038671

--------------------------------------------------------

Confidence intervals for the break dates

--------------------------------------------------------

The 95% C.I. for the 1th break is: 17 37

The 90% C.I. for the 1th break is: 17 32

The 95% C.I. for the 2th break is: 94 105

The 90% C.I. for the 2th break is: 96 103

***********************************************************

For the 5% level, the model is the same  as for the 10% level.

The estimation is not repeated.

-------------------------------------------------------

For the 1% level, the model is the same  as for the 2.5% level.

The estimation is not repeated.

----------------------------------------------------------

>>

请问，我这五个断点有效吗？谢谢