Table 2 VAR lag order selection criteria...

Table 2

VAR lag order selection criteria

Lag	LogL	LR	FPE	AIC	SC	HQ
Endogenous variables: COR REM KO UN TAX
1	−190.6702	NA	6.097028	15.97557	17.17542*	16.33235
2	−163.6881	33.97744	6.197736	15.82875	18.22845	16.54231
3	−137.7104	23.09135	9.729832	15.75632	19.35587	16.82666
4	−78.25993	30.82615	3.092049*	13.20444*	18.00384	14.63155*

Lag	LogL	LR	FPE	AIC	SC	HQ
Endogenous variables: COR REM KO UN TAX
1	−190.6702	NA	6.097028	15.97557	17.17542*	16.33235
2	−163.6881	33.97744	6.197736	15.82875	18.22845	16.54231
3	−137.7104	23.09135	9.729832	15.75632	19.35587	16.82666
4	−78.25993	30.82615	3.092049*	13.20444*	18.00384	14.63155*

Source(s): Authors’ * indicates lag order selected by the criterion

LR: sequential modified LR test statistic (each test at 5% level)

FPE: Final prediction error

AIC: Akaike information criterion

SC: Schwarz information criterion

HQ: Hannan–Quinn information criterion

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