Cointegrating Eq

CointEq1

MAY(−1)

1.000000

SEPT(−1)

−0.955874

(0.02629)

[−36.3622]

C

−207.6696

Error Correction

D(MAY)

D(SEPT)

CointEq1

−0.807982

−0.138553

(0.20168)

(0.19594)

[−4.00628]

[−0.70713]

Log likelihood

−1334.155

Akaike information criterion

27.87949

Schwarz criterion

28.35727