Table 4 Stability tests for the single EC equations 1851–1906
From: Money demand under free banking: Switzerland 1851–1906
Equation | Chow F-statistics 1881 | Quandt-Andrews maximum F-statistics | Break year Q-A test |
|---|---|---|---|
∆m t | 0.746 | 1.307 | 1870 |
∆p t | 1.504 | 1.626 | 1878 |
∆y t | 1.014 | 1.138 | 1879 |
∆rs t | 1.846* | 2.171* | 1883 |
∆bb t | 1.239 | 4.806*** | 1870 |
∆nb t | 0.993 | 2.101 | 1870 |
∆rm t | 1.379 | 1.690 | 1882 |