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Table 8 Validity of the long-run relationships

From: More alike than different: the Spanish and Irish labour markets before and after the crisis

ARDL   Johansen LR test
ec m t−1 CV r CV  
[LD] (n w k)   (n w k)  
Spain:     
-0.34 (0.000) (1 −1.06 0.69) 2 (1 −1.20 0.80) χ2(2)=3.52 [0.172]
Ireland:     
-0.20 (0.029) (1 −0.62 0.65) 2 (1 −0.59 0.61) χ2(1)=1.63 [0.201]
[WS] (w pr)   (w pr)  
Spain:     
-0.22 (0.000) (1 0.66) 1 (1 2.89) χ2(1)=0.50 [0.480]
Ireland:     
-0.32 (0.003) (1 0.41) 1 (1 0.35) χ2(1)=2.67 [0.125]
[LF] (l w po)   (l w po)  
Spain:     
-0.09 (0.074) (1 0.44) 1 (1 0.68) χ2(2)=4.30 [0.116]
Ireland:     
-0.34 (0.006) (1 0.31 1.09) 1 (1 2.85 0.40) χ2(2)=0.24 [0.889]
  1. Notes: CV = cointegrating vector; r = number of CVs ;p-values in parentheses; moreover, LD is labour demand, WS is wage-setting, and LF is labour force; 5% critical values for the LR test are: χ2(1) = 3.84; χ2(2) = 5.99.