--------------------------------------------------------------------------------------------------------------------------------------------- name: log: C:\Users\HP\Desktop\PMG Results.log log type: text opened on: 26 Mar 2015, 21:01:27 . . xtpmg d.returns d.dowjones d.nikkie225 d.sp1200, lr(l. returns dowjones nikkie225 sp1200) ec(ec) replace pmg Iteration 0: log likelihood = 2675.0501 Iteration 1: log likelihood = 2678.1074 Iteration 2: log likelihood = 2678.1161 Iteration 3: log likelihood = 2678.1161 Pooled Mean Group Regression (Estimate results saved as pmg) Panel Variable (i): var1 Number of obs = 1790 Time Variable (t): var2 Number of groups = 10 Obs per group: min = 179 avg = 179.0 max = 179 Log Likelihood = 2688.588 ------------------------------------------------------------------------------ D.returns | Coef. Std. Err. z P>|z| [95% Conf. Interval] -------------+---------------------------------------------------------------- ec | dowjones | .1612313 .0472142 3.41 0.001 .0686932 .2537695 nikkie225 | .2303506 .0363375 6.34 0.000 .1591303 .3015708 sp1200 | .05232 .0136133 3.84 0.000 .0256384 .0790017 -------------+---------------------------------------------------------------- SR | ec | .8940439 .0398441 22.44 0.000 .8159509 .9721369 | dowjones | D1. | .1046351 .044493 2.35 0.019 .0174304 .1918397 | nikkie225 | D1. | .2746307 .0453017 6.06 0.000 .185841 .3634204 | sp1200 | D1. | .0329195 .0032973 9.98 0.000 .0264569 .039382 | _cons | -.0075543 .0014906 -5.07 0.000 -.0104758 -.0046327 ------------------------------------------------------------------------------ . . xtpmg d.dowjones d.returns d.nikkie225 d.sp1200, lr(l. dowjones returns nikkie225 sp1200) ec(ec) replace pmg Iteration 0: log likelihood = 3175.1863 Iteration 1: log likelihood = 3178.4781 Iteration 2: log likelihood = 3178.4786 Iteration 3: log likelihood = 3178.4786 Pooled Mean Group Regression (Estimate results saved as pmg) Panel Variable (i): var1 Number of obs = 1790 Time Variable (t): var2 Number of groups = 10 Obs per group: min = 179 avg = 179.0 max = 179 Log Likelihood = 3191.214 ------------------------------------------------------------------------------ D.dowjones | Coef. Std. Err. z P>|z| [95% Conf. Interval] -------------+---------------------------------------------------------------- ec | returns | .1250043 .0228117 5.48 0.000 .0802941 .1697144 nikkie225 | .0858265 .0264596 3.24 0.001 .0339665 .1376864 sp1200 | .0352487 .0098514 3.58 0.000 .0159403 .054557 -------------+---------------------------------------------------------------- SR | ec | .9725374 .0109852 88.53 0.000 .9510068 .9940681 | returns | D1. | .0863504 .0236111 3.66 0.000 .0400736 .1326272 | nikkie225 | D1. | .1278392 .0047974 26.65 0.000 .1184365 .1372419 | sp1200 | D1. | .0435295 .0004326 100.62 0.000 .0426816 .0443775 | _cons | -.0023826 .0001755 -13.57 0.000 -.0027266 -.0020386 ------------------------------------------------------------------------------ . . xtpmg d.nikkie225 d.dowjones d.returns d.sp1200, lr(l. nikkie225 dowjones returns sp1200) ec(ec) replace pmg Iteration 0: log likelihood = 2781.871 Iteration 1: log likelihood = 2814.9364 Iteration 2: log likelihood = 2815.3839 Iteration 3: log likelihood = 2815.384 Pooled Mean Group Regression (Estimate results saved as pmg) Panel Variable (i): var1 Number of obs = 1790 Time Variable (t): var2 Number of groups = 10 Obs per group: min = 179 avg = 179.0 max = 179 Log Likelihood = 2827.872 ------------------------------------------------------------------------------ D.nikkie225 | Coef. Std. Err. z P>|z| [95% Conf. Interval] -------------+---------------------------------------------------------------- ec | dowjones | .5321024 .0425208 12.51 0.000 .4487631 .6154418 returns | .2514527 .0276641 9.09 0.000 .197232 .3056734 sp1200 | .0885524 .0118398 7.48 0.000 .0653469 .1117579 -------------+---------------------------------------------------------------- SR | ec | .9513022 .0111663 85.19 0.000 .9294166 .9731878 | dowjones | D1. | .1951786 .0108318 18.02 0.000 .1739487 .2164085 | returns | D1. | .2180144 .0277755 7.85 0.000 .1635755 .2724534 | sp1200 | D1. | .0749605 .0024508 30.59 0.000 .0701571 .0797639 | _cons | .0029752 .0003989 7.46 0.000 .0021933 .0037571 ------------------------------------------------------------------------------ . . xtpmg d.sp1200 d.nikkie225 d.dowjones d.returns , lr(l. sp1200 nikkie225 dowjones returns) ec(ec) replace pmg Iteration 0: log likelihood = 1069.9067 Iteration 1: log likelihood = 1079.0085 Iteration 2: log likelihood = 1079.0309 Iteration 3: log likelihood = 1079.0309 Pooled Mean Group Regression (Estimate results saved as pmg) Panel Variable (i): var1 Number of obs = 1790 Time Variable (t): var2 Number of groups = 10 Obs per group: min = 179 avg = 179.0 max = 179 Log Likelihood = 1089.715 ------------------------------------------------------------------------------ D.sp1200 | Coef. Std. Err. z P>|z| [95% Conf. Interval] -------------+---------------------------------------------------------------- ec | nikkie225 | .9757846 .0912281 10.70 0.000 .7969808 1.154588 dowjones | .415718 .1219798 3.41 0.001 .176642 .6547939 returns | .132693 .0815391 1.63 0.104 -.0271207 .2925067 -------------+---------------------------------------------------------------- SR | ec | .8877912 .0014684 604.61 0.000 .8849133 .8906692 | nikkie225 | D1. | .523705 .0159497 32.83 0.000 .4924442 .5549658 | dowjones | D1. | .4702066 .0172464 27.26 0.000 .4364043 .504009 | returns | D1. | .1765842 .061208 2.88 0.004 .0566187 .2965497 | _cons | .0121533 .0001978 61.46 0.000 .0117657 .0125409 ------------------------------------------------------------------------------ . . xtpmg d(1).returns d(1).dowjones d(1).nikkie225 d(1).sp1200, lr(l. returns dowjones nikkie225 sp1200) ec(ec) replace pmg Iteration 0: log likelihood = 2675.0501 Iteration 1: log likelihood = 2678.1074 Iteration 2: log likelihood = 2678.1161 Iteration 3: log likelihood = 2678.1161 Pooled Mean Group Regression (Estimate results saved as pmg) Panel Variable (i): var1 Number of obs = 1790 Time Variable (t): var2 Number of groups = 10 Obs per group: min = 179 avg = 179.0 max = 179 Log Likelihood = 2688.588 ------------------------------------------------------------------------------ D.returns | Coef. Std. Err. z P>|z| [95% Conf. Interval] -------------+---------------------------------------------------------------- ec | dowjones | .1612313 .0472142 3.41 0.001 .0686932 .2537695 nikkie225 | .2303506 .0363375 6.34 0.000 .1591303 .3015708 sp1200 | .05232 .0136133 3.84 0.000 .0256384 .0790017 -------------+---------------------------------------------------------------- SR | ec | .8940439 .0398441 22.44 0.000 .8159509 .9721369 | dowjones | D1. | .1046351 .044493 2.35 0.019 .0174304 .1918397 | nikkie225 | D1. | .2746307 .0453017 6.06 0.000 .185841 .3634204 | sp1200 | D1. | .0329195 .0032973 9.98 0.000 .0264569 .039382 | _cons | -.0075543 .0014906 -5.07 0.000 -.0104758 -.0046327 ------------------------------------------------------------------------------ . . xtpmg d.returns d.dowjones d.nikkie225 d.sp1200 d(1).returns d(1).dowjones d(1).nikkie225 d(1).sp1200, lr(l. returns dowjones nikkie225 s > p1200) ec(ec) replace pmg initial values not feasible r(1400); . xtpmg d.returns d.dowjones d.nikkie225 d.sp1200 d(1).returns d(1).dowjones d(1).nikkie225 d(1).sp1200, lr(l. returns dowjones nikkie225 sp1 > 200) ec(ec) replace pmg initial values not feasible r(1400); . . xtpmg d.returns d.dowjones d.nikkie225 d.sp1200 d(1).returns d(1).dowjones d(1).nikkie225 d(1).sp1200, lr(l. returns dowjones nikkie225 s > p1200) ec(ec) replace pmg initial values not feasible r(1400); . log close name: log: C:\Users\HP\Desktop\PMG Results.log log type: text closed on: 26 Mar 2015, 22:35:41 ---------------------------------------------------------------------------------------------------------------------------------------------