ARDL diagnostic tests
| Test | Statistic | p-value | Decision |
|---|---|---|---|
| Breusch–Godfrey LM (2 lags) | χ2 = 7.04 | 0.008 | Serial correlation detected |
| White's Heteroskedasticity | χ2 = 14.82 | 0.317 | No heteroskedasticity |
| Jarque–Bera Normality | JB = 1.87 | 0.392 | Normality not rejected |
| Ramsey RESET (1 fitted term) | F = 1.24 | 0.269 | No specification error |
| CUSUM | – | – | Moves outside bounds in some periods (mild instability) |
| CUSUMSQ | – | – | Within 5% bounds |
| Test | Statistic | Decision | |
|---|---|---|---|
| Breusch–Godfrey LM (2 lags) | 0.008 | Serial correlation detected | |
| White's Heteroskedasticity | 0.317 | No heteroskedasticity | |
| Jarque–Bera Normality | JB = 1.87 | 0.392 | Normality not rejected |
| Ramsey RESET (1 fitted term) | F = 1.24 | 0.269 | No specification error |
| CUSUM | – | – | Moves outside bounds in some periods (mild instability) |
| CUSUMSQ | – | – | Within 5% bounds |
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