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Table 3 VAR in differences, 1855–2015

From: 160 Years of aggregate supply and demand in Switzerland

 

CPI inflation

Real GDP growth

First lag CPI inflation

0.69

(0.09)

−0.24

(0.11)

Second lag CPI inflation

−0.25

(0.10)

0.05

(0.12)

Third lag CPI inflation

0.17

(0.09)

−0.12

(0.11)

First lag real GDP growth

0.42

(0.07)

−0.24

(0.09)

Second lag real GDP growth

0.17

(0.08)

−0.31

(0.09)

Third lag real GDP growth

0.04

(0.08)

0.01

(0.10)

Constant

−1.07

(0.59)

4.33

(0.73)

Log likelihood: -986.79

No. of observations: 161

 
  1. Standard errors in parentheses