Tay. 1, Dismbusione normale andodicats Valor della variable cesuale normale standardizata Z erspesiva POO xh.) =o dove SoG 0.050 ozs 0.010 0.005 0.001 3s 5.0389 6450 7.87944 10828 599147 737716 921064 10.5366 Bais 781473 4 9534840 113489 128381 16.266 ous 11183 B26 1a.8602 18467 L075 3 12925 15.0863 167496 20315 123916 4 1.4894 168u9 185476, 2458 Whosrt { 160128 18.4753 20277 232 155073 n 17.5346 20.0502 21.9330 26125 16.3150 : 190228 21.6660 23.5893 237 18,3070 F apr Dam 23.882 20588 195751 el 21,200 247250 267569 31364 21.0261 : 23367 262170 252995 32.909 : 24.7356 27688) 298194 34528 : 26.1190 2343 513195 36.123 : 27.4884 yor 328013 37.697 ( Dass 31.9999 3426r2 39232 < 30.1910 33.4087 35.7185 0.750 = sizes 34.9053 Sr 1364 232 | 328523 36.1908 38.5822 380 Fi 34.1056 37360 39.9508 pus a 354789 3ag3at 414010 46397 4 36.7807 40.2894 42.7956 48268 a 38077 410384 44183 278 seats E 53641 29798 5585 31179 s7.s35 i 40.6165 aan 46.9278 32.60 sagen 419232 436417 8209 54032 ous 1 ‘Bass 45360 Bee 55.476 32 2 44.4607 48.2782 505933 3689 423569 i orm? 395819 523356 58.302 Baus b seo7e2 50.8922 33.6720 59.703 55.7585 < 347 8.6507 66.7659 ‘3.902 eros e risa 76.1539 79.3300 ae.ce1 73 0818 ¢ 276 34 919917 9.07 7 0.3312 4 95.0231 100.425 yos.a15 12317 101.879 3 106.629 1122329 116321 289 Is q 118.36 124.116 128.299 137.208 1438 é 129.561 135807 140.169 W940 ZTay. Mb, DistnbueioneF per wn lilo «= 0405 Perla probabilid = 0,05 a tavola forse i valor Fas tli che PlO- it 208 333320 308 297 2B 28 233 214 203 330° 3a7 307 2a 270 2m 239 230 2 201 3229 289 265 22 22 220 2 ts 230 295 2m 2n 250 235 2h 20 14 1p 10 29 26 256 231 28 19 Tse 176 133138 24 231 2a 21s 208 ie 170139 1321.00correlation in the residuals: ‘Taoue 7.2. Response surfaces for critical values of co-integration tests (7) yn Model Point (4) ge SE 7 Noeoasant, 1 25658 (0.008) —1.980 a (7) notend 5 =19393 (0.0008) +e 0 =16186 (0.0007) —0.181 1 Constant, 1 734336 0024) =5.959 1B he oe sowend 5 Seat @oom — —2.78 0 Fase (0.0009) 1.438 ion precedes the use of one 1 Constant 39688 (0019) 8.383 ‘ed with constant and trend, tend $ 34126 (0.012) —4.039, Corintegration tests either 0 H3179 0009) =2.418, ee egeimecd Bip, Gast i Zss00r, (00%) 10.504 (Ga) is used, the strategy is rotend 5 Sszr7’ @0o12) 5.967 and using model (7b); it 10 ~30462 (0.0008) 4.059 el (Te) is sed, then this is | Constant = 1 A266 OR) 15.581 The mndel type refered to sued 537609 (00013) 9.408 vor of content and tend in 10734889 (0.000) 7.208 Saas for example, implies ff 3 Contant, 14.2981 (00m) 13750 grating regression (6), or 8 molens $3.79 (0002) 8.352 7 ~ 10 3.4518 (0.0010) 6.241 if the distributions, can be [3 Consame = 146616 (@00z2) 18.452 ssing the relation fiend = § | “anias (ODI) —z 034 ne | 0 3.8344 (0.0005) -9.188 r, D6 comm, 1 acme et) arms imate, The parameters sowed 5 Lelomo (0.0013) —10745, Se edaaua “amsation ite foams) ean Xo ite forsach ot J CQ) Comam —1 49695 (oom) ~z2 304 ror term) was fund 10 tied = 5 saan (0002) —14301 at omerged from the many 1 Taagta Ooo) “anaes duld in principle have been Constant, 1 4.9587 (0.0026) -22.140 see MacKinnon (1991) fora nowend = § “eaiss (00013) “seat ‘luding the feesible general 41827 (O00) “in 68 cluding et ceporse |G) Comat 252097 (oom) —2.605, ‘teroskedasticty in (8) + tend 3 4.7154 (0.0013) - 17.432 ene eritical value. for 150 0 Ties (00010) —13.658 luded in the model is given 6 Constant, 1 5.2400 (0.0029) = 26.278 e 8 nouead’ = $4708 (O.O018) —17.129 1 “aaa 001) 13347 © Conte 1 5.5127 (0.0089) 30.738 Stend S| nasn6y (0007) ~20883 aie re ie 10.6999 (Oo) —_isees {ieee eral saves for DF Source: MacKinnon (1991). We are grateful to James MacKinnon for permis: COD = Boat BT eg T Vacs es AMCO ng | ee 1