With the updated data set from Exercise 1, find the cointegrating relation between production and consumption by

Question:

With the updated data set from Exercise 1, find the cointegrating relation between production and consumption by implementing the test for cointegration. Is it different from the cointegrating relation in Exercise 1? If it is, go ahead and find the best vector error correction model, construct the 1-year-ahead forecast, and compare your results with those from Exercise 1.