Table 4:
Cointegration regression.
Model
Version
Intercept
(
)
Long-run income elasticity
(
)
1
Peacock and Wiseman [
7
]
−1.833 (0.932)
0.904** (0.000)
2
Gupta [
8
]
6.411 (0.955)
1.023** (0.000)
3
Goffman [
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)
6
Mann [
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.