478285 *** The truncation lag is based on Newey and West (1987) bandwidth ** and *** denote statistical significance at the 5 and 1% levels, respectively Table 4 Bounds F-test for cointegration Dependent variable Function F-test statistic
In y/N In y/N(In UEMP, In GOV) 5.
01) as refer to the p-value of F-Test statistic
is at 307.
However, turning to the joint hypothesis test of strong rational expectations (2), the F-test statistic
7) If the F-test statistic
exceeds the upper critical value, the null hypothesis of no long-run relationship can be rejected regardless of whether the underlying orders of integration of the variables are I(0) or I(1).
To this end, an F- test is performed: the production function is estimated with and without the training-related variables, and the F-test statistic
for returns to training is calculated using the residual sum of squares of these alternative specifications.
The F-test statistic
for each model is as follows: Ml is 5.
In other words a large F-test statistic
, and a correspondingly small p-value, indicates that there are statistically significant differences in yields offered in different states.
The following F-test statistic
was used to test the homogeneity of the variances of the 1-month percentage changes for the PPI data series and for the corresponding measures based on alternative data sources:
The equation has an improved fit, as measured both by R-bar square and the F-test statistic
866066 *** I(1) ** and *** denote significance at 5 % and 1 % respectively Table 3 Bounds F-test for co integration Dependent variable Function F-test statistic
Uruguay InGrowth InGrowth (InENC, InExpt) 5.
Table 3 Bounds F-test for cointegration Dependent variable Function F-test statistic
It is now well established in econometric literature that the F-test statistic
is not valid if times series are integrated as argued by Toda and Yamamoto , Enders , Zapata and Rambaldi , and Gujarati .