Table 6. Long-run asymmetric... | Emerald Publishing

Table 6.

Long-run asymmetric coefficients

Exog variables	Long-run effect [+]		Log-run effects [−]
Exog variables	Coef	F-stat	Coef	F-stats
Log income	1.080^***	18.16	−4.354^***	13.81
CPI	0.011^**	4.42	0.021^**	6.24
Log building plans passed	0.185	1.23	−0.777^***	21.86
Mortgage rate	−0.024^***	8.74	−0.009	1.72
	Long-run asymmetry Wald test		Short-run asymmetry Wald test
Log income	9.77^***		0.612
CPI	9.57^***		0.260
Log building plans passed	5.42^**		0.053
Mortgage rate	8.77^***		8.14^***

Notes:

[+] and [−] denote the long-run coefficients associated with positive and negative changes in the exogenous variables. That is, a permanent change in exogenous variables by −1; *, ** and *** denote 10, 5 and 1%, respectively

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