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o>X(3?FA僷=(H>^Fmmk?HxpV*㯘@?Sample (adjusted): 8/31/1993 8/08/1996Included observations: 740 after adjustmentsConvergence achieved after 15 iterationsBollerslev-Wooldrige robust standard errors & covarianceVariance backcast: ONGARCH = C(4) + C(5)*RESID(-1)^2 + C(6)*GARCH(-1)NF'' --3))`9911)wmE?lSA=t?~Yo>5Ҧ& ?ɬ?HDERIV=ANC resid(-1)^2 garch(-1) !!%D \44f20 ; =Fv  #J ڥش5>sq?qR{?_c?|{kdB?3?7fAUrv?@U`?"v2w={k? ipƪ@?P2(2) Ft,x,@N58N5s`p22q FDLOG(NOR) C CI(-1) DLOG(SWE(-1))8/27/1993 8/08/1996C(1) C(2) C(3) C(4) C(5) C(6) C CI(-1) DLOG(SWE(-1)) DLOG(NOR)DLOG(NOR) = C(1) + C(2)*CI(-1) + C(3)*DLOG(SWE(-1))8/31/1993 8/08/1996@6=ٓ?,5=:@?@n?pX?$M܀?eE7xBȣx?aQcϗ_4@n7@me@(,?BA8BA80n(?@ @xBȣx??BA8eF*t>9}+vG=h)>H:8cȣ?5mt_n=%x >H^JʾȹQ?qLx3Te9$y1B?,eBi=n>ߕ2y'<`T?Ib/^z?Sample (adjusted): 8/31/1993 8/08/1996Included observations: 740 after adjustmentsConvergence achieved after 11 iterationsBollerslev-Wooldrige robust standard errors & covarianceVariance backcast: ONGARCH = C(4) + C(5)*RESID(-1)^2 + C(6)*GARCH(-1)h|*F''--)).99W110=?\'? ?'?WP>zgpԺ?Б?HDERIV=AAC resid(-1)^2 garch(-1) "" *44420  v  #J ڥش5>sq?qR{?_c?|{kdB?3?7fAUrv?@U`?"v2w={k? ipƪ@?P2(2) Ft,x,@N58N5s`p22q FDLOG(SWE) C CI(-1) DLOG(FIN(-1))8/27/1993 8/08/1996C(1) C(2) C(3) C(4) C(5) C(6) C(7) C CI(-1) DLOG(FIN(-1)) DLOG(SWE)DLOG(SWE) = C(1) + C(2)*CI(-1) + C(3)*DLOG(FIN(-1))8/31/1993 8/08/1996)v?c`B?m?ם? ?m"3?s T;G@Xh+?L;+?,`?BA8BA8 v41?@ @3??BA8Vnl}> aܶҷ績.=n zR/imKQlȾg _If.?>,٪>u-\ >dL:"2?UܹN=G?A2>=u?zT'CL;?uy=]'ĔH>]Pb֒> Ό⣾~*'d]W?91o2,0ťVt1rs?DBqH9ݜ?Sample (adjusted): 8/31/1993 8/08/1996Included observations: 740 after adjustmentsConvergence achieved after 10 iterationsBollerslev-Wooldrige robust standard errors & covarianceVariance backcast: ONGARCH = C(4) + C(5)*RESID(-1)^2 + C(6)*RESID(-1)^2*(RESID(-1)<0) + C(7)*GARCH(-1):NF''-- ))899aRRYG?3Фm~?URtX>]v}k?d?e>?THDERIV=AAC resid(-1)^2 resid(-1)^2*(resid(-1)<0) garch(-1) !!$$ 44:8<> @33Iڥش5>sq?qR{?_c?|{kdB?3?7fAUrv?@U`?"v2w={k? ipƪ@?P2(2) Ft,x,@N58N5s`p22q F8d YT {Yp`ܲ?`ܲ?Bp`ܲ`ܲCor(LOG(FIN),LOG(FIN)(-i))JO"ArialOAP"Arial@ZbtiZbtP"Arial 0.12-0.12ZbtiZbtP"ArialZbtiZbtP"ArialP"Arial1 20\r:March:{]xY?Ș~F\XD#n?ytayY<]Rd=˸;sv8y$>> p`TP"ArialDB_`_x9/PaH0P(8d YT {Yp`ܲ?`ܲ?Bp`ܲ`ܲCor(LOG(FIN),LOG(SWE)(-i)) T"ArialTAP"Arial@ZbtiZbtP"Arial 0.12-0.12ZbtiZbtP"ArialZbtiZbtP"ArialP"Arial1 20r:March:)&"?6Q8xOO/?r:SCOR_m31WmT=+ p`TP"ArialD=B__"x/PH0P(8d YT {Yp`ܲ?`ܲ?Bp`ܲ`ܲCor(LOG(FIN),LOG(NOR)(-i))jS"ArialSAP"Arial@ZbtiZbtP"Arial 0.12-0.12ZbtiZbtP"ArialZbtiZbtP"ArialP"Arial1 20"M ?eJ$zu%?{~XdMbÛާ_>I .5 "p`TP"ArialDB_&_x/wP'H0P(w8d YT {Yp`ܲ?`ܲ?Bp`ܲ`ܲCor(LOG(SWE),LOG(FIN)(-i)) T"ArialGTAP"Arial@ZbtiZbtP"Arial 0.12-0.12ZbtiZbtP"ArialZbtiZbtP"ArialP"Arial1 20 uôo?dEv? 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BoundsqLhyz"Arial((UhyAP"ArialZbtiZbtP"ArialZbtiZbtP"ArialZbtiZbtP"ArialP"Arialri 7JG"Arial.<.<d.<.<*.<.<.<S.<.<x}/H@@̌??A Vector Error Correction Estimates Vector Error Correction Estimates Date: 04/10/07 Time: 15:18 Sample (adjusted): 9/03/1993 8/08/1996 Included observations: 737 after adjustments Standard errors in ( ) & t-statistics in [ ]Cointegration Restrictions: B(1,1) = 0, B(1,2) = 1, B(1,3) = -1, B(1,4) = 0Convergence achieved after 2 iterations.Restrictions identify all cointegrating vectorsLR test for binding restrictions (rank = 1): Chi-square(3)ProbabilityCointegrating Eq: LOG(FIN(-1))LOG(SWE(-1))LOG(NOR(-1))LOG(DEN(-1))@TREND(8/27/93)[-2.60265]Error Correction:D(LOG(FIN))D(LOG(SWE))D(LOG(NOR))D(LOG(DEN))[-3.53530][-2.31662][ 1.97882][-0.36692]D(LOG(FIN(-1)))[ 1.42495][ 1.65969][ 1.22923][ 0.53487]D(LOG(FIN(-2)))[-0.41264][ 0.59562][ 0.95258][ 0.13526]D(LOG(FIN(-3)))[-1.84015][ 0.92854][ 0.48896][-0.12845]D(LOG(FIN(-4)))[-1.59319][ 0.43006][ 0.64884][ 0.20651]D(LOG(SWE(-1)))[ 4.53725][ 1.67996][ 2.08448][ 2.22807]D(LOG(SWE(-2)))[ 0.64709][ 0.41635][ 0.24406][ 0.85825]D(LOG(SWE(-3)))[ 1.62415][ 0.64594][ 0.45798][ 1.42551]D(LOG(SWE(-4)))[ 2.53124][-0.22194][ 0.43922][-1.05145]D(LOG(NOR(-1)))[-2.46036][-0.83296][-0.47393][-0.86237]D(LOG(NOR(-2)))[ 0.71760][-1.37625][-0.32684][-0.64016]D(LOG(NOR(-3)))[ 1.30895][-0.39857][ 0.22770][-0.04123]D(LOG(NOR(-4)))[ 0.72732][ 1.21449][ 0.33775][ 2.35006]D(LOG(DEN(-1)))[-1.08155][-1.53696][-1.05836][ 2.33863]D(LOG(DEN(-2)))[ 0.10959][ 0.86037][ 1.28600][-0.22039]D(LOG(DEN(-3)))[-0.40588][ 0.71026][-0.62276][-1.06989]D(LOG(DEN(-4)))[-1.31727][-0.87886][ 0.34609][ 0.63024][ 0.88633][ 1.39342][ 1.25471][ 0.43377] R-squared Adj. 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