能有人帮忙分析下协整方程是什么。
Date: 03/01/10   Time: 13:05   
Sample (adjusted): 1980 2008   
Included observations: 29 after adjustments   
Trend assumption: Linear deterministic trend (restricted)   
Series: LNEC LNGDP     
Lags interval (in first differences): 1 to 1   
   
Unrestricted Cointegration Rank Test (Trace)   
   
Hypothesized  Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
   
None *  0.542863  35.43155  25.87211  0.0024
At most 1 *  0.355323  12.73116  12.51798  0.0461
   
Trace test indicates 2 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 *  0.542863  22.70039  19.38704  0.0159
At most 1 *  0.355323  12.73116  12.51798  0.0461
   
Max-eigenvalue test indicates 2 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):     
   
LNEC LNGDP @TREND(79)  
-7.148338  33.35834 -2.839630  
-14.02326 -2.508011  0.931254  
   
   
Unrestricted Adjustment Coefficients (alpha):     
   
D(LNEC) -0.009073  0.015414  
D(LNGDP) -0.017376 -0.000453  
   
   
1 Cointegrating Equation(s):   Log likelihood  143.2773
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNEC LNGDP @TREND(79)  
1.000000 -4.666587  0.397243  
  (0.81964)  (0.07763)  
   
Adjustment coefficients (standard error in parentheses)   
D(LNEC)  0.064854   
  (0.03884)   
D(LNGDP)  0.124210   
  (0.02282)

迹统计量和最大特征值结果同时显示变量之间存在两个协整方程，但是通常写出特征值最大的方程：vecm=lnec-4.6666lngdp+0.3972@TREND仅供参考

LNEc和lngdp应该是同向变动啊，搞不明白。