Error diagnostic tests of ARDL models
| Error tests | Equation (7E) | Equation (12E) | Equation (13E) |
|---|---|---|---|
| Statistic (p-value) | Statistic (p-value) | Statistic (p-value) | |
| Breusch-Godfrey test for autocorrelation | 0.315 (0.73) | 1.113 (0.34) | 0.207 (0.81) |
| Jarque Bera test for normality | 4.259 (0.11) | 0.196 (0.90) | 0.281 (0.24) |
| Harvey test for heteroscedasticity | 1.785 (0.14) | 1.430 (0.23) | 0.569 (0.72) |
| CUSUM & CUSUM of square | Stable (0.05) | Stable (0.05) | Stable (0.05) |
| Error tests | |||
|---|---|---|---|
| Statistic ( | Statistic ( | Statistic ( | |
| Breusch-Godfrey test for autocorrelation | 0.315 (0.73) | 1.113 (0.34) | 0.207 (0.81) |
| Jarque Bera test for normality | 4.259 (0.11) | 0.196 (0.90) | 0.281 (0.24) |
| Harvey test for heteroscedasticity | 1.785 (0.14) | 1.430 (0.23) | 0.569 (0.72) |
| CUSUM & CUSUM of square | Stable (0.05) | Stable (0.05) | Stable (0.05) |
Note(s): Parenthesis has p-value of test statistic. All necessary details of diagnostic tests (CUSUM & CUSUM of Square) are provided in Appendix 1
Source(s): Authors’ calculation