Hypothesized

No. of CE(s)

Eigenvalue

Max-Eigen

Statistic

0.05

Critical Value

Prob.^**

None

0.917096

39.84118

21.13162

0.0001

At most 1

0.598245

14.59061

14.26460

0.0444

At most 2^*

0.087865

1.471468

3.841466

0.2251