Table V. VECM Estimates of the Swedish... | Emerald Publishing

Table V.

VECM Estimates of the Swedish real house prices. 1986Q1-2016Q4

Variable	Coefficient	Standard error	t-statistic	Prob.
ε (t − 1)	−0.01	0.00	−2.44	0.02**
ΔRHP1 (t − 1)	0.32	0.07	4.55	0.00*
ΔRHP1 (t − 4)	0.24	0.08	3.24	0.00*
ΔRDISP (t − 1)	0.06	0.01	3.85	0.00*
ΔATMR (t − 4)	−0.01	0.00	−3.08	0.00*
ΔRHDT (t − 4)	0.26	0.08	3.38	0.00*
ΔREER (t − 1)	−0.13	0.05	−2.54	0.01*
ΔRENT (t − 7)	−0.28	0.07	−4.13	0.00*
R-squared	0.58	Mean dependent var		0.01
Adjusted R-squared	0.56	S.D. dependent var		0.02
S.E. of regression	0.01	Akaike info criterion		−5.50
Sum squared resid	0.02	Schwarz criterion		−5.31
Log likelihood	327.18	Hannan-Quinn criter		−5.43
Durbin–Watson stat	1.93

Variable	Coefficient	Standard error	t-statistic	Prob.
ε (t − 1)	−0.01	0.00	−2.44	0.02**
ΔRHP1 (t − 1)	0.32	0.07	4.55	0.00*
ΔRHP1 (t − 4)	0.24	0.08	3.24	0.00*
ΔRDISP (t − 1)	0.06	0.01	3.85	0.00*
ΔATMR (t − 4)	−0.01	0.00	−3.08	0.00*
ΔRHDT (t − 4)	0.26	0.08	3.38	0.00*
ΔREER (t − 1)	−0.13	0.05	−2.54	0.01*
ΔRENT (t − 7)	−0.28	0.07	−4.13	0.00*
R-squared	0.58	Mean dependent var		0.01
Adjusted R-squared	0.56	S.D. dependent var		0.02
S.E. of regression	0.01	Akaike info criterion		−5.50
Sum squared resid	0.02	Schwarz criterion		−5.31
Log likelihood	327.18	Hannan-Quinn criter		−5.43
Durbin–Watson stat	1.93

Notes:

Δ denotes the first difference and t-n refers to the nth lag;

**p < 0.05;

*

p < 0.01