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Table A.3. Cointegration Test. California and Sonora Yield
Sample (adjusted): 2000 2013
Included observations: 14 after adjustments
Trend assumption: Linear deterministic trend (restricted)
Lags interval (in first differences): 1 to 4
Unrestricted Cointegration Rank Test (Trace)
Hypothesized
Trace
0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None *
0.902122 45.45551 25.87211
0.0001
At most 1 *
0.602592 12.91907 12.51798
0.0428
Trace test indicates 2 cointegrating eqn(s) at the 0.05 level
* denotes rejection of the hypothesis at the 0.05 level
**MacKinnon-Haug-Michelis (1999) p-values
Source : Ow n estimates, based on SIACON and USDA.
Table A.4. Cointegration Test. California and Sonora Value
Sample (adjusted): 1998 2013
Included observations: 16 after adjustments
Trend assumption: Quadratic deterministic trend
Lags interval (in first differences): 1 to 2
Unrestricted Cointegration Rank Test (Trace)
Hypothesized
Trace
0.05
No. of CE(s) Eigenvalue Statistic Critical Value Prob.**
None *
0.68405 19.69277 18.39771
0.0328
At most 1
0.075614 1.258017 3.841466
0.262
Trace test indicates 1 cointegrating eqn(s) at the 0.05 level
* denotes rejection of the hypothesis at the 0.05 level
**MacKinnon-Haug-Michelis (1999) p-values
Source : Ow n estimates, based on Banco de México, BLS, SIACON and USDA.