|
Dependent variable |
Regressors |
|||||
|
sample: Sept 1993 - May 2001 |
||||||
|
dETMZRT |
= |
dWRMZRP |
dWRMZRP3 |
dWRDMZRT1 |
ecm(-1) |
|
| |
|
-0.75 |
0.40 |
0.19 |
-0.58 |
|
| |
|
-3.77 |
2.02 |
7.51 |
-7.25 |
|
|
sample: Sept 1993 - May 2001 |
||||||
|
dETSHRT |
= |
dWRSHRP1 |
dWRSHRP2 |
dWRSHRP3 |
dWRSHRP4 |
dWRSHRP5 |
| |
|
0.72 |
0.65 |
0.72 |
0.63 |
0.73 |
| |
|
2.27 |
2.04 |
2.43 |
2.56 |
2.94 |
| |
|
dWRSHRP7 |
dWRSHRP9 |
dWRDSHRT |
ecm(-1) |
|
| |
|
0.58 |
0.67 |
0.13 |
-0.59 |
|
| |
|
2.33 |
2.70 |
4.01 |
-5.43 |
|
see Table 1 for variables' names
d = differences; 1, 2, 3,... = differences lagged 1, 2, 3,...
source: own calculation on ESCB price data
