표 4 모형 추정 결과
| ∆hpt | ∆hqt |
| 상수항 | −0.100(0.064) | 0.819(3.604) |
| ∆hpt-1 | 0.837***(0.086) | 11.705***(4.840) |
| ∆hpt-2 | −0.142(0.089) | −2.538***(0.502) |
| ∆hqt-1 | 0.002(0.002) | −0.374***(0.088) |
| ∆hqt-2 | 0.004***(0.001) | −0.083(0.079) |
| ∆it-1 | −0.397***(0.183) | −7.925(10.277) |
| ∆it-2 | 0.291(0.177) | 2.589(9.978) |
| ∆hlt-1 | 0.057(0.088) | −5.836(4.940) |
| ∆hlt-2 | 0.123(0.086) | 6.456(4.866) |
| ∆yt-1 | 0.047***(0.017) | 1.591(0.990) |
| ∆yt-2 | 0.005(0.018) | 0.329(1.032) |
| ∆pt-1 | 0.079(0.100) | 5.157(5.632) |
| ∆pt-2 | 0.188***(0.101) | −1.378(5.701) |
| R̄2 | 0.682 | 0.240 |
| DW | 2.091 | 2.111 |
주 : 1) p<0.1,
p<0.05,
p<0.01.
2) ( )안은 표준오차이다.