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Ltkepohl, Helmut; Saikkonen, Pentti; Trenkler, Carsten

Working Paper

Maximum eigenvalue versus trace tests for the


cointegrating rank of a VAR process
Discussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of
Economic Processes, No. 2000,83
Provided in Cooperation with:
Collaborative Research Center 373: Quantification and Simulation of
Economic Processes, Humboldt University Berlin

Suggested Citation: Ltkepohl, Helmut; Saikkonen, Pentti; Trenkler, Carsten (2000) : Maximum
eigenvalue versus trace tests for the cointegrating rank of a VAR process, Discussion Papers,
Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes,
No. 2000,83, http://nbn-resolving.de/urn:nbn:de:kobv:11-10048091

This Version is available at:


http://hdl.handle.net/10419/62268

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d = 0.25

d = 0.50

d = 0.75

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

12

12

12

15

15

15

18

18

18

21

21

21

24

24

24

27

27

27

30

30

30

33

33

33

36

36

36

39

39

39

42

42

42

Panel A: Test with a time trend

45

45

45

51

51

48

51

LR PCmax
LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

48

LR PCmax
LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

48

LR GLStrace

LR GLSmax

LR +trace

LR +max

LR PCtrace

LR PCmax

54

54

54

57

57

57

60

60

60

d = 0.25
d = 0.50
d = 0.75

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

!

12

12

12

15

15

15

18

18

18

21

21

21

24

24

24

27

27

27

30

30

30

33

33

33

36

36

36

39

39

39

42

42

42

45

45

45

Panel B: Tests without a time trend

*,+
)
'(
&
%

"$
" $
" #








 




51

54

48

51

54

51

54

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

48

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

48

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

57

57

57

60

60

60



d = 0.25

d = 0.50

d = 0.75

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

12

12

12

15

15

15

18

18

18

21

21

21

24

24

24

27

27

27

30

30

30

33

33

33

36

36

36

39

39

39

42

42

42

Panel A: Test with a time trend

45

45

45

51

51

48

51

LR PCmax
LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

48

LR PCmax
LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

48

LR GLStrace

LR GLSmax

LR +trace

LR +max

LR PCtrace

LR PCmax

54

54

54

57

57

57

60

60

60

d = 0.25
d = 0.50
d = 0.75

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

!

12

12

12

15

15

15

18

18

18

21

21

21

24

24

24

27

27

27

30

30

30

33

33

33

36

36

36

39

39

39

42

42

42

45

45

45

Panel B: Tests without a time trend

.+
)
'(
&
%

"$
" $
" #





-


 




51

54

48

51

54

51

54

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

48

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

48

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

57

57

57

60

60

60



c = 2.5

c = 5.0

c = 7.5

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

12

12

12

15

15

15

18

18

18

LR GLStrace

LR GLSmax

LR +trace

LR +max

LR PCtrace

LR PCmax

21

21

21

24

24

24

27

27

27

30

30

30

33

33

33

36

36

36

39

39

39

42

42

42

45

45

45

51

51

48

51

LR PCmax
LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

48

54

54

54

LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

LR PCmax

48

60

60

60

57

57

57

c = 2.5
c = 5.0
c = 7.5

Panel A: Test with a time trend

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

12

12

12

15

15

15

21

21

21

18

18

18

27

27

27

24

24

24

30

30

30

36

36

36

33

33

33

39

39

39

42

42

42

45

45

45

Panel B: Tests without a time trend

12 0
*

*5 +
3,4
)

' (&

!






"$

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/


 

51

54

48

51

54

51

54

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

48

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

48

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

57

57

57

60

60

60



c = 2.5

c = 5.0

c = 7.5

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

12

12

12

15

15

15

18

18

18

LR GLStrace

LR GLSmax

LR +trace

LR +max

LR PCtrace

LR PCmax

21

21

21

24

24

24

27

27

27

30

30

30

33

33

33

36

36

36

39

39

39

42

42

42

45

45

45

51

51

48

51

LR PCmax
LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

48

54

54

54

LR PCtrace
LR +max
LR +trace
LR GLSmax
LR GLStrace

LR PCmax

48

60

60

60

57

57

57

c = 2.5
c = 5.0
c = 7.5

Panel A: Test with a time trend

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

0.0

0.2

0.4

0.6

0.8

1.0

12

12

12

15

15

15

21

21

21

18

18

18

27

27

27

24

24

24

30

30

30

36

36

36

33

33

33

39

39

39

42

42

42

45

45

45

Panel B: Tests without a time trend

12 0
.

*5 +
3,4
)

' (&

!






"$

" $

" #





6


 

51

48

51

54

51

54

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

LR iomax

48

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iotrace

54

LR SLtrace

LR SLmax

LR *trace

LR *max

LR iomax

48

LR iomax
LR iotrace

57

57

57

60

60

60

LR

PC
max

1
1.0



0.0

0.2

0.7

0.8

trace
+
LR max
LR+trace
LRGLSmax
LRGLStrace

LR

0.9

1.0

0.0

0.2

0.4

0.6

0.6

0.4

0.8

0.8

PC

1.0

1.0

Panel B: = 0.8

0.0
0.9

0.0

0.6

0.2

LRGLStrace

LRGLSmax

LR+trace

LR+max

0.7

LRiomax

0.8

0.9

0.7

LRSLtrace

LRSLmax

LRiotrace
LR*max
LR*trace

0.8

Panel D: = 0.8

0.9

LRSLtrace

LRSLmax

LRiotrace
LR*max
LR*trace

LRPCtrace
0.8

LRiomax

0.2

0.8

Panel C: = 0
LRPCmax

1.0

0.4

0.7

Panel A: = 0

0.4

0.6

0.8

1.0

K
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1.0

1.0


LR

PC

1
1.0

0.0

0.2

0.4

0.7

0.8

trace
+
LR max
LR+trace
LRGLSmax
LRGLStrace

LR

0.9

1.0

0.0

0.2

0.4

0.6

0.6
max

0.8

0.8

PC

1.0

1.0

Panel B: = (0.4 0.8)

0.0
0.9

0.0
0.8

0.2

0.2

0.6

0.7

LRiomax

0.8

0.9

0.7

LRSLtrace

LRSLmax

LRiotrace
LR*max
LR*trace

0.8

0.9

Panel D: = (0.4 0.8)

LRSLtrace

LRSLmax

LRiotrace
LR*max
LR*trace

LRPCtrace
LR+max
LR+trace
LRGLSmax
LRGLStrace

LRiomax
0.8

Panel C: = (0 0)
LRPCmax

1.0

0.4

0.7

Panel A: = (0 0)

0.4

0.6

0.8

1.0

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1.0

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1.0

0.9

1.0

0.0

0.6

0.8

0.7

0.8

0.9

Panel D: = (0.4 0.8)

LRSLtrace

LRSLmax

LRiotrace
LR*max
LR*trace

LR+max
LR+trace
LRGLSmax
LRGLStrace

0.0
0.9

LRPCtrace

0.2

0.8

LRiomax

0.2

0.8

0.7

LRSLtrace

LRSLmax

LRPCmax

1.0

0.4

0.7

Panel B: = (0.4 0.8)

0.4

0.6

0.8

1.0

0.0
0.9

0.0
0.8

0.2

0.2

0.6

LRiotrace
LR*max
LR*trace

LRPCtrace
LR+max
LR+trace
LRGLSmax
LRGLStrace

LRiomax
0.8

Panel C: = (0 0)
LRPCmax

1.0

0.4

0.7

Panel A: = (0 0)

0.4

0.6

0.8

1.0

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1.0

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1.0

0.0

0.2

0.4

LRSLtrace

LRSLmax

LRiotrace
LR*max
LR*trace

0.9

1.0

0.0

0.2

0.4

0.6

0.6

0.0

0.8

0.8

0.9

0.8

LRiomax

Panel B: H(0): r = 0

0.8

1.0

0.7

0.7

0.2

1.0

0.0

0.2

0.4

0.6

0.6

0.4

0.8

0.8

LRPCmax
LRPCtrace
LR+max
LR+trace
LRGLSmax
LRGLStrace

1.0

Panel A: H(0): r = 0

1.0

0.7

0.7

0.8

Panel D: H(1): r = 1

0.8

0.9

0.9

Panel C: H(1): r = 1

LRSLtrace

LRSLmax

LRiotrace
LR*max
LR*trace

LRiomax

LRGLStrace

LRGLSmax

LR+trace

LR+max

LRPCtrace

LRPCmax

1.0

1.0

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