Table XI Johansen co-integration test...

Table XI

Johansen co-integration test for $l n P_{t}^{p}$ and $l n P_{t}^{m}$

Model	H₀	H₁	LRT	5% Level	Conclusion
$l n P_{t}^{p}$ and $l n P_{t}^{m}$	R=0	R=1	19.1440	15.41	Reject null hypothesis
	R⩽1	R=2	3.3012	3.76	Accept null hypothesis

Notes: R represents the number of co-integration vector

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