Ho

H1

Trace statistic

Max-Eigenevalue statistic

Value

CV(0.05)

Prob

Value

CV(0.05)

Prob

r = 0

r = 1

57.36557^*

29.79707

0.0000

35.32383^*

21.13162

0.0003

r = 1

r = 2

22.04175^*

15.49471

0.0045

14.27173^*

14.26460

0.0499

r = 2

r = 3

7.770014^*

3.841466

0.0053

7.770014^*

3.841466

0.0053