The Effect of Monetary Policy on Commodity Prices: Disentangling the Evidence for Individual Prices

Table 4

Cointegration trace test.

Cointegration analysis: trace test
VEC models
Oil	0,000	0,009	0,077	0,199	0,885
Gold	0,010	0,906	0,006	0,083	0,466
Coal	0,000	0,025	0,013	0,210	0,746
Nickel	0,000	0,070	0,001	0,064	0,182