Relationships among Energy Price Shocks, Stock Market, and the Macroeconomy: Evidence from China

Table 4

The model test results.

Stability test	The coefficients of all roots are less than one; So the model estimated is stable
Autocorrelation LM test	LM = 18.88 (0.2749); No series autocorrelation
Heteroskedasticity test	𝜒^2(240)=231.2206(0.6462); No heteroskedasticity
Jarque-Bera normal test	JB (8) = 7.11161 (0.5246); The residual series conform to normal distribution