|Table 5: Long-run estimates for output in four PICs.|
|Notes: Values in bracket [ ] are probability value of the test statistics. Values in parentheses ( ) are value of the test statistics. JB is Jarque-Bera test, null hypothesis: normal residuals; AR(1) is Breusch-Godfrey serial correlation LM test with lag 1, null hypothesis: no autocorrelation.|
*, **, and ***indicate significance at the 10, 5, and 1 percent levels, respectively.