Table 4: Cointegration regression.

ModelVersionIntercept
( )
Long-run income elasticity
( )

1Peacock and Wiseman [7]−1.833 (0.932)0.904** (0.000)
2Gupta [8]6.411 (0.955)1.023** (0.000)
3Goffman [9]−17.177 (0.459)7.523** (0.000)
4 Pryol [10]7.243 (0.363)0.861** (0.000)
5 R. A. Musgrave and P. B. Musgrave [1] 28.833* (0.036)−0.061** (0.000)
6Mann [11]28.805* (0.039)−2.941** (0.000)

*, **, ** are significant at one percent, five percent, and ten percent level.
Figures in parentheses represent the value of the respective coefficient in the estimated regression.