From: The distortion in the EU feed market due to import constraints on genetically modified soy
Dep. Var.\((\Delta {y}_{t})\) | \(\Delta {\mathit{ln}Feed\left(poultry\right)}_{t}\) | |||
---|---|---|---|---|
Sweden.Ref | Sweden.Alt | Austria.Ref | Austria.Alt | |
\({\mathit{ln}Soy(NonGM)}_{t-1}^{+}\) | 0.441*** (0.098) | 0.134* (0.074) | 0.193* (0.109) | − 0.126 (0.156) |
\({\mathit{ln}Soy(NonGM)}_{t-1}^{-}\) | 0.408** (0.171) | 0.128* (0.071) | 0.117 (0.154) | − 0.248 (0.200) |
\(ln{Wheat}_{t-1}\) | − 0.295 (0.221) | − 0.017 (0.145) | 0.025 (0.108) | 0.132 (0.131) |
\(ln{Barl}_{t-1}\) | 0.355*** (0.115) | 0.392*** (0.137) | 0.052 (0.143) | 0.106 (0.132) |
\(ln{Maize}_{t-1}\) | – | – | 0.354** (0.186) | 0.068 (0.116) |
\({\mathit{ln}SoyGM}_{t-1}\) | – | 0.276** (0.135) | – | 0.328** (0.166) |
\({SD}_{1}\) | − 0.041 (0.028) | − 0.037* (0.019) | 0.016 (0.038) | − 0.055 (0.035) |
\({SD}_{2}\) | − 0.050* (0.028) | − 0.026* (0.015) | − 0.006 (0.036) | − 0.040* (0.022) |
\(DU\) | 0.078 (0.059) | 0.067 (0.044) | − 0.099* (0.059) | − 0.061* (0.036) |
\(DB\) | − 0.001 (0.001) | − 0.001 (0.001) | 0.002 (0.002) | − 0.000 (0.002) |
Constant | 0.970*** (0.219) | 0.823*** (0.288) | 0.635** (0.313) | 0.582* (0.345) |
R-square | 0.68 | 0.73 | 0.5265 | 0.5931 |
Adj. R-square | 0.61 | 0.66 | 0.4251 | 0.4544 |
DW stat | 2.03 | 2.11 | 2.02 | 2.04 |
Bound test# | 6.44*** | 6.34*** | 3.29** | 2.09*** |
Ramsey test | 1.53 | 2.05 | 2.06 | 1.19 |
'Wald test (Short-run) | 0.10 | 0.40 | 2.77* | 4.95** |
Wald test (Long-run) | 0.09 | 0.10 | 0.40 | 1.58 |
CUSUM (CUSUMQ) | S (S) | S (S) | S (S) | S (S) |