Unrestricted Cointegration Rank Test (Trace)

Hypothesized

Trace

0.05

No. of CE(s)

Eigenvalue

Statistic

Critical Value

Prob.^**

None^*

0.656492

42.65559

15.49471

0.0000

At most 1^*

0.618130

20.21615

3.841466

0.0000