Table 5 Cointegration equation* M t − 1...

Table 5

Cointegration equation*

$M_{t - 1}$ =	10.791	$+ 1.825 \ln {(G D P)}_{t - 1}$	$- 0.187 \ln {(P M)}_{t - 1}$	$+ 0.401 \ln {(D P)}_{t - 1}$
		(0.099)	(0.087)	(0.071)
		[18.439]	[−2.136]	[5.679]

Note(s): *Standard errors in () and t-statistics in [ ]. All the coefficients are significant and have the expected signs

Source(s): Own elaboration

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