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st: interpretation of pvar
From
Biljana Jonoska <[email protected]>
To
[email protected]
Subject
st: interpretation of pvar
Date
Sun, 13 Feb 2011 13:59:18 -0800 (PST)
Dear all,
I'm using pvar.ado and I obtain these results.
How can interpret them? I need to estimate panel VECM model.
pvar exp gdp, lag(1) gmm monte 500 "decomp 30"
-----------------------------------------------------------------------
output:
Current memory allocation
current memory usage
settable value description (1M = 1024k)
--------------------------------------------------------------------
set maxvar 5000 max. variables allowed 1.909M
set memory 50M max. data space 50.000M
set matsize 200 max. RHS vars in models 0.322M
-----------
52.231M
GMM started : 22:40:52
accumulating matrices equation 1,2,calculating b2sls
calculating big ZuuZ matrix
finished accumulating ZuuZ
_______ Results of the Estimation by system GMM_________
number of observations used : 252
------------------------------------------------------------------------------
EQ1: dep.var : h_exp
b_GMM se_GMM t_GMM
L.h_exp .77014599 .13895993 5.5422161
L.h_gdp -2.647e-06 6.225e-06 -.42521326
------------------------------------------------------------------------------
------------------------------------------------------------------------------
EQ2: dep.var : h_gdp
b_GMM se_GMM t_GMM
L.h_exp -198.98295 193.45212 -1.0285902
L.h_gdp .91490206 .04716643 19.397313
------------------------------------------------------------------------------
just identified - Hansen statistic is not calculated
symmetric uu[2,2]
exp gdp
exp 1.8130455
gdp -275.23504 2509974.8
Residuals correlation matrix
| u1 u2
-------------+------------------
u1 | 1.0000
|
|
u2 | -0.1293 1.0000
| 0.0403
|
GMM finished : 22:41:14
Thanks in advance.
Many regards,
Biljana
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