我是菜鸟。。。在这里跪谢帮助我的各位大侠了。。。协整关系上课没有学过，现在自学协整写论文好痛苦
（1）首先弱弱的问一下，协整是什么意思，存在协整关系说明什么？说明涉及的变量之间存在因果关系，放在一个方程中是合理的吗？
（2）请问一下Johansen结果如下，反应出至少有2个协整方程吗？这两个方程怎么看？
（3）可不可以说Johansen表明变量之间存在协整关系，之后OLS回归结果呢？Johansen协整方程结果和OLS结果有什么关系吗？ 不会用Johansen怕万一断章取义了还不如OLS呢，狂谢大家啊！！！

Date: 05/18/10   Time: 20:44   
Sample (adjusted): 4 22   
Included observations: 19 after adjustments   
Trend assumption: No deterministic trend (restricted constant)   
Series: LNXT LNRE LNFDI LNY     
Lags interval (in first differences): 1 to 2   
   
Unrestricted Cointegration Rank Test (Trace)   
   
Hypothesized  Trace 0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
   
None *  0.994429  174.7828  54.07904  0.0000
At most 1 *  0.880358  76.16830  35.19275  0.0000
At most 2 *  0.769780  35.82660  20.26184  0.0002
At most 3  0.340906  7.920902  9.164546  0.0856
   
Trace test indicates 3 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 *  0.994429  98.61446  28.58808  0.0000
At most 1 *  0.880358  40.34170  22.29962  0.0001
At most 2 *  0.769780  27.90570  15.89210  0.0004
At most 3  0.340906  7.920902  9.164546  0.0856
   
Max-eigenvalue test indicates 3 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):     
   
LNXT LNRE LNFDI LNY C
8.415834  4.111961  0.328543 -37.73695  419.3692
-5.669648  20.34523 -6.127410  33.43795 -398.4380
-11.63285  10.73170 -3.587680  47.02955 -532.3603
-12.92464  0.974767  0.625103  55.39249 -623.0672
   
   
Unrestricted Adjustment Coefficients (alpha):     
   
D(LNXT)  0.047236 -0.030632  0.091538  0.017714
D(LNRE) -0.035348 -0.019235  0.011384 -0.012513
D(LNFDI) -0.061558  0.054082  0.026066 -0.088639
D(LNY)  0.005963 -0.007714  0.000522  0.000411
   
   
1 Cointegrating Equation(s):   Log likelihood  168.9145
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNXT LNRE LNFDI LNY C
1.000000  0.488598  0.039039 -4.484042  49.83098
  (0.07005)  (0.01744)  (0.03953)  (0.43234)
   
Adjustment coefficients (standard error in parentheses)   
D(LNXT)  0.397534   
  (0.30208)   
D(LNRE) -0.297480   
  (0.08644)   
D(LNFDI) -0.518061   
  (0.43951)   
D(LNY)  0.050188   
  (0.02205)   
   
   
2 Cointegrating Equation(s):   Log likelihood  189.0853
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNXT LNRE LNFDI LNY C
1.000000  0.000000  0.163877 -4.653458  52.28109
   (0.01345)  (0.04907)  (0.52747)
0.000000  1.000000 -0.255504  0.346739 -5.014573
   (0.01961)  (0.07152)  (0.76872)
   
Adjustment coefficients (standard error in parentheses)   
D(LNXT)  0.571207 -0.428982  
  (0.35072)  (0.71740)  
D(LNRE) -0.188424 -0.536689  
  (0.08398)  (0.17178)  
D(LNFDI) -0.824686  0.847184  
  (0.50072)  (1.02422)  
D(LNY)  0.093924 -0.132423  
  (0.00970)  (0.01984)  
   
   
3 Cointegrating Equation(s):   Log likelihood  203.0382
   
Normalized cointegrating coefficients (standard error in parentheses)   
LNXT LNRE LNFDI LNY C
1.000000  0.000000  0.000000 -2.981031  32.25239
    (0.23213)  (2.69800)
0.000000  1.000000  0.000000 -2.260768  26.21248
    (0.36149)  (4.20146)
0.000000  0.000000  1.000000 -10.20535  122.2176
    (1.47332)  (17.1239)
   
Adjustment coefficients (standard error in parentheses)   
D(LNXT) -0.493640  0.553376 -0.125194
  (0.29152)  (0.44128)  (0.13424)
D(LNRE) -0.320854 -0.414518  0.065405
  (0.11504)  (0.17413)  (0.05297)
D(LNFDI) -1.127903  1.126912 -0.445121
  (0.75101)  (1.13681)  (0.34581)
D(LNY)  0.087856 -0.126826  0.047355
  (0.01453)  (0.02200)  (0.00669)