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Table 3 Nonlinear ARDL estimation results

From: Oil and food prices in Malaysia: a nonlinear ARDL analysis

  Oil price specification
Independent variable Oil price in Ringgit Oil price in USD
  Coefficient p-vale Coefficient p-value
Constant −1.0406 0.0239 −1.1539 0.0100
p(−1) −0.5592 0.0000 −0.5082 0.0000
y(−1) 0.2690 0.0000 0.2628 0.0000
op +(−1) 0.0458 0.0041 0.0307 0.0355
op (−1) 0.0293 0.2136 0.0216 0.2971
p(−1) 0.3549 0.0397 0.2385 0.0216
op + --- --- 0.0694 0.0044
op +(−1) −0.0514 0.0397 --- ---
R2 0.6798   0.7098  
J-B 1.4480 0.4848 1.1050 0.5755
LM(1) 0.0022 0.9622 0.1303 0.7181
LM(2) 0.3534 0.8380 0.4439 0.8010
ARCH(1) 0.0040 0.9496 4.1510 0.0416
ARCH(2) 0.5286 0.7677 9.4405 0.0089
  1. Notes: J-B is the Jarque-Bera test for error normally, LM(.) is the LM test for error autocorrelation up to the lag order given in the parenthesis, and ARCH(.) is the ARCH test for autoregressive conditional heteroskedasticity up to the lag order given in the parenthesis.