Date: 05/19/20   Time: 22:15


Sample (adjusted): 2006 2019


Included observations: 14 after adjustments

Trend assumption: Linear deterministic trend

Series: LNY LNX1 LNX2 LNX3


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 *
0.925952
74.45179
47.85613
0.0000
At most 1 *
0.714368
38.00912
29.79707
0.0045
At most 2 *
0.636376
20.46642
15.49471
0.0082
At most 3 *
0.362532
6.303523
3.841466
0.0120










Trace test indicates 4 cointegrating eqn(s) at the 0.05 level