Table 4. Quantile cointegration test...

Table 4.

Quantile cointegration test

Model	Coefficient	sup_τ\|V_n^(τ)\|	CV1	CV5	CV10
gepu_t vs opri_t	β	927.143	262.865	170.215	138.681
gepu_t vs opri_t	γ	93.708	19.775	12.253	8.736
gepu_t vs byie_t	β	467.134	593.811	375.184	305.857
gepu_t vs byie_t	γ	57.989	80.776	45.147	35.127
opri_t vs byie_t	β	855.634	994.613	723.272	566.001
opri_t vs byie_t	γ	101.064	121.285	78.399	57.187

Model	Coefficient	sup_τ\|V_n^(τ)\|	CV1	CV5	CV10
gepu_t vsopri_t	β	927.143	262.865	170.215	138.681
gepu_t vsopri_t	γ	93.708	19.775	12.253	8.736
gepu_t vsbyie_t	β	467.134	593.811	375.184	305.857
gepu_t vsbyie_t	γ	57.989	80.776	45.147	35.127
opri_t vsbyie_t	β	855.634	994.613	723.272	566.001
opri_t vsbyie_t	γ	101.064	121.285	78.399	57.187

Notes:

CV1, CV5 and CV10 denote the critical values of statistical significance at 1, 5 and 10%, respectively. We used 1,000 Monte Carlo simulations to obtain the critical values. An equally spaced grid of 19 quantiles is also used

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