Refer to the VAR regression results given in the following table. From the various F tests reported
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Dependent variable: x (percentage change in real price of oil) Significance level Variable Coefficient Standard error Lag 0.7054 0.8305E-5 0.1409 х 2 -0.3351 0.1500 2.7013 2.4344 2.8048 0.3027E-1 -1.3525 0.6189 У 2 3.4371 0.1645 У 3.4566 0.2239 2 -4.8703 2.7500 0.8304E-1 0.169 6E –1 Constant -0.998 3E-2 0.5589 R? = 0.2982; Q(21) = 8.2618 (P = 0.99 39) Tests for joint significance, dependent variable = x Variable F-statistic Significance level 0.4283E-4 0.2654 12.5536 х 1.3646 1.5693 0.2188 Dependent variable: y (percentage change in Texas nonagricultural employment) Significance level Variable Lag Coefficient Standard error 0.2228E–1 -0.1883E-2 0.8759E-2 0.9322E-2 0.1430E-1 0.8407 х х 0.1678 0.1512 0.1742 0.6462 0.3554E-3 0.423 4E-1 0.7807 0.2655 0.1342 -0.1715 0.1708 0.3205 Constant -0.1602E-2 0.1053E-1 0.1351 R = 0.6316; Q(21) = 21.5900 (P = 0.4234) Tests for joint significance, dependent variable = y Variable F-statistic Significance level 3.6283 0.3424E-4 0.828 7E-6 х 19.1440 1.1684 У 0.3197 Dependent variable: z (percentage change in nonagricultural employment in rest of United States) Standard error Variable Coefficient Significance level Lag -0.8330E-2 0.6849E-2 0.2299 1 х 0.3635E-2 0.7289E-2 0.6202 х 0.3849 0.1312 0.5170E-2 0.1182 0.1362 0.1336 -0.4805 0.1828E-2 0.7226 0.3004E-5 2 -0.1366E–1 0.9190 Constant 0.8241E-3 0.5701E-2 -0.2387E-2 Ř? = 0.6503; Q(21) = 15.6182 (P = 0.7907) Tests for joint significance, dependent variable = z Significance level Variable F-statistic 0.7396 0.4827 х 8.2714 0.8360E-3 У 27.9609 0.1000E-7
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