Appendix C: Parameter Estimates and Test Statistics for Models 4 and 5 | RDP 1977-05: Modelling Monetary Disequilibrium

TABLE C.1: PARAMETER ESTIMATES FOR GROUP 1 EQUATIONS
1959(3) – 1975(4)
MODEL 4			MODEL 5
Parameter	Estimate	t-ratio	Parammeter	Estimate	t-ratio
α₁	.5391	5.99	α₁	.8072	9.62
α₂	1.3107	5.19	α₂	1.3235	3.31
α₃	.1		α₃	.1
α₄	1.9771	5.83	α₄	0.1083	3.42
α₅	.1335	3.72	α₅	.1226	5.48
α₆	.0650	3.96	α₆	.0278	8.91
α₇	.3049	4.89	α₇	.3245	3.13
α₈	.5902	4.28	α₈	.13279	3.04
α₉	.2003	3.51	α₉	.2132	3.63
α₁₀	0.0		α₁₀	0.0
α₁₁	0.0		α₁₁	0.0
α₂₆	−.0149	.75	α₂₆	.3077	.35
γ₁	−.1659	4.36	γ₁	−.1663	4.28
γ₂	0.0		γ₂	3.9
γ₃	.0763	5.92	γ₃	−.8068	.68
γ₄	−.2003	5.76	γ₄	−.2233	3.80
γ₅	0.0		γ₅	0.0
γ₆	−.2090	6.68	γ₆	−.2387	6.55
γ₇	0.0		γ₇	1.0
λ₁	.012		λ₁	−.712
λ₂	.0144	6.25	λ₂	.1143	9.37
λ₃	.0025		λ₃	.0035
λ₄	.020		λ₄	.020
β₁	1.0		β₁	−.8
β₂	−1.430	3.18	β₂	−.3595	2.01
β₃	−3.6838	4.25	β₃	−3.2068	4.60
β₄	−1.6423	2.45	β₄	−1.1095	1.90
β₅	−.01		β₅	−.11
β₆	.0114	.19	β₆	.1956	1.08
β₇	.3		β₇	.3
β₈	−.2849	10.66	β₈	−.2503	8.00
β₉	.7		β₉	.7
β₁₀	.8		β₁₀	.8
β₁₁	.0829	4.88	β₁₁	.8028	.22
β₁₂	0.0		β₁₂	0.0
β₁₃	.1		β₁₃	.1
β₁₄	0.0		β₁₄	0.0
β₁₅	.2358	7.31	β₁₅	.1704	12.15
β₁₆	1.7114	9.86	β₁₆	1.7049	9.33
β₁₇	.4303	6.51	β₁₇	.4920	8.87
β₁₈	.2108	2.64	β₁₈	.3365	1.61
β₁₉	0.0		β₁₉	0.0
β₂₀	0.0		β₂₀	0.0
β₂₁	0.0		β₂₁	0.0
β₂₂	0.0		β₂₂	0.0
β₂₃	0.0		β₂₃	0.0
			β₃*	−81.1851	.78
			β₄*	82.3468	.70
			β₅*	−7.7269	.76
			β₆*

TABLE C.2: PARAMETER ESTIMATES FOR GROUP 2 EQUATIONS
1959(3) – 1975(4)
Parameter	Estimate	t-ratio	Parameter	Estimate	t-ratio
α₁₂	.1338	5.89	α₁₂	.1287	5.88
α₁₃	1.5077	7.51	α₁₃	1.4782	7.95
α₁₄	2.0		α₁₄	2.0
α₁₅	.9661	7.16	α₁₅	1.3517	7.04
α₁₆	.5		α₁₆	.5
α₁₇	1.7525	6.49	α₁₇	1.6939	5.01
α₁₈	.1234	8.24	α₁₈	.1366	8.49
α₁₉	.26		α₁₉	.26
α₂₀	1.7856	6.20	α₂₀	1.3870	6.54
α₂₁	.0640	1.20	α₂₁	.0883	1.68
α₂₂	.8305	4.75	α₂₂	.7198	4.35
α₂₃	.0618	1.67	α₂₃	−.0085	1.32
α₂₄	.0623	3.59	α₂₄	.0215	1.12
α₂₅	.0715	9.13	α₂₅	.0306	3.50
β₂₄	−.2633	2.93	β₂₄	.3365	3.61
β₂₅	−.3501	5.68	β₂₅	−.2363	4.24
β₂₆	.2195	4.53	β₂₆	.2406	5.45
β₂₇	−.8117	8.98	β₁₇	−.7134	9.68
β₂₈	.5		β₂₈	.5
β₂₉	1.9429	4.74	β₂₉	2.5580	5.08
β₃₀	.0697	1.87	β₃₀	.0145	.40
β₃₁	−.7908	8.32	β₃₁	−.8097	12.70
β₃₂	.1787	4.41	β₃₂	.0525	1.69
β₃₃	.8045	36.99	β₃₃	.8293	34.57
β₃₄	13.44	6.05	β₃₄	12.7146	6.47
β₃₅	−.2		β₃₅	−.2
β₃₆	2.0527	13.61	β₃₆	2.0758	17.39
β₃₇	.0716	3.85	β₃₇	.0930	4.88
β₃₈	−.0135	2.50	β₃₈	−.0174	3.69
β₃₉	.0376	10.62	β₃₉	.0451	13.66
β₄₀	−1.7144	2.58	β₄₀	−2.9445	3.96
β₄₁	2.3117	2.58	β₄₁	3.0649	3.76
β₄₂	1.1321	49.17	β₄₂	1.0546	40.36
β₄₃	.0279	6.43	β₄₃	.0074	10.88
β₄₄	−.0285	3.64	β₄₄	−.0068	.69
β₄₅	5.4425	.88	β₄₅	.2646	5.87
β₄₆	−.1260	4.87	β₄₆	−.0116	3.89
β₄₇	.4482	3.34	β₄₇	.1795	8.56
β₄₈	−.0557	5.45	β₄₈	−.0255	5.85
β₄₉	6.3225	.61	β₄₉	−.1466	.45
β₅₀	−.1863	5.47	β₅₀	−.0616	4.06
β₅₁	.3026	1.63	β₅₁	.1361	1.20
_β52	.1249	10.77	β₅₂	.1064	11.99
β₅₃	.0597	9.43	β₅₃	.0614	13.23

TABLE C.3: TEST STATISTICS FOR MODELS 4 AND 5
Variable	MODEL 4			MODEL 5
Variable	r²	RMSPE₁	RMSPE₂	r²	RMSPE₁	RMSPE₂
d	.1564	.9	3.0	.1097	.9	1.2
k	.3896	.002*	.003*	.4331	.002*	.002*
l	.2213	.006*	.005*	.3760	.005*	.004
P	.5300	1.0	7.4	.4626	1.0	6.8
P_x	.1866	3.1	12.7	.2241	2.9	6.6
W	.5215	.9	8.4	.5873	.8	5.0
F	.1896	6.1	79.6	.2807	5.0	59.8
M	.0.000	1.1	6.8	.4060	.9	6.7
N	.3138	.2	1.3	.3256	.2	0.9
x	.3143	7.0	7.1	.3778	6.2	5.5
i	.3440	4.7	20.4	.3310	5.0	12.2
y	.2304	2.1	2.6	.2729	2.3	2.8
P_g	.1573	2.3	10.2	.1759	2.5	7.4
B	.2520	1.5	19.6	.3227	1.0	9.8
A	.4317	1.1	5.5	.5587	1.0	4.6
T₁	.4075	8.2	11.5	.4546	7.4	10.0
T₂	.2645	2.6	12.0	.2661	2.6	8.8
R	.0264	8.0	35.0	.0933	7.4	33.7
v	.6480	1.1	8.1	.5879	1.2	6.5
r	.4652	.009*	.018*	.6331	.001*	.007*
B	.5400	1.4	11.2	.7705	.8	6.2
x	.0943	1.4	25.0	.1497	1.0	2.6
C	.6025	1.0	7.3	.6352	6.0	4.9
K	.6602	.1	3.4	.6858	.1	0.9
L	.4861	.3	2.6	.6369	.2	1.2

RDP 1977-05: Modelling Monetary Disequilibrium Appendix C: Parameter Estimates and Test Statistics for Models 4 and 5