.

pvarsoc dEMBI dPBI dINF dRATE dBC dDF, pinstl(1/6)

Running panel VAR lag order selection on estimation sample
....

Selection order criteria

Sample: 586 - 754 No. of obs = 970
No. of panels = 6
Ave. no. of T = 161.667

lag CD J J pvalue MBIC MAIC MQIC

1 .920844 289.7038 3.97e-07 -948.2095 -70.29623 -404.4574

2 -1.530776 165.2891 .108169 -825.0415 -122.7109 -390.0399
3 .998399 94.31502 .8232407 -648.433 -121.685 -322.1817
4 .9558543 56.76513 .9058244 -438.4002 -87.23487 -220.8994

. pvarsoc dEMBI dPBI dINF dRATE dBC dDF, pinstl(1/5)

Running panel VAR lag order selection on estimation sample
....

Selection order criteria

Sample: 585 - 754 No. of obs = 980
No. of panels = 6
Ave. no. of T = 163.333

lag CD J J pvalue MBIC MAIC MQIC

1 .9219801 250.8079 8.74e-08 -740.9997 -37.19215 -304.9503

2 .3039745 112.5206 .3636856 -631.3351 -103.4794 -304.298
3 .9986986 57.94886 .8850471 -437.9549 -86.05114 -219.9302
4 .8429957 15.40435 .9989412 -232.5475 -56.59565 -123.5352

.
end of do-file