/* sample: 1960.1 -- 1995.4, seasonally unadjusted data West German data until 1990.2, all of Germany aferwards m - log of real per capita M1 (source of original series: Monatsberichte der Deutschen Bundesbank, quarterly values are values of last month of quarter) gnp - log of real per capita GNP (source of original series: Deutsches Institut für Wirtschaftsforschung, Volkswirtschaftliche Gesamtrechnung) (source of population data: Wirtschaft und Statistik) gnp_d - 0 for 1960.1 - 1990.2, gnp for 1990.3 - 1995.4 p - log gdp deflator (source: Deutsches Institut für Wirtschaftsforschung, Volkswirtschaftliche Gesamtrechnung) R - nominal long term interest rate (Umlaufsrendite) (source: Monatsberichte der Deutschen Bundesbank, quarterly values are values of last month of quarter) S1, S2, S3 - seasonal dummies S1d, S2d, S3d - seasonal dummies for period starting 1990.3 and 0 before ec = m -1.13gnp - 0.04gnp_d + 4.57R error correction term */ <1960 Q1> ec gnp gnp_d m1 p R s1 s1d s2 s2d s3 s3d -1.15924684146 8.309448242 0.0 7.947089672 3.40382719 0.062 1.0 0.0 0.0 0.0 0.0 0.0 -1.1889052503299997 8.387235641 0.0 7.996191024 3.380212068 0.064 0.0 0.0 1.0 0.0 0.0 0.0 -1.3234692683299996 8.465360641 0.0 7.949908256 3.436210632 0.064 0.0 0.0 0.0 0.0 1.0 0.0 -1.2652999078400002 8.477333068 0.0 8.030746459 3.419888257 0.062 0.0 0.0 0.0 0.0 0.0 0.0 -1.2370847038899995 8.374403953 0.0 7.951791763 3.449860572 0.06 1.0 0.0 0.0 0.0 0.0 0.0 -1.2350350258199994 8.420853614 0.0 8.020039558 3.427157402 0.057 0.0 0.0 1.0 0.0 0.0 0.0 -1.3083837894499983 8.482004165 0.0 8.002080917 3.478868007 0.06 0.0 0.0 0.0 0.0 1.0 0.0 -1.227526150599998 8.48827362 0.0 8.09002304 3.473331928 0.06 0.0 0.0 0.0 0.0 0.0 0.0 -1.2064314517599986 8.387731552 0.0 8.006645202 3.494353771 0.058 1.0 0.0 0.0 0.0 0.0 0.0 -1.215229206869998 8.461326599 0.0 8.07186985 3.470630168 0.06 0.0 0.0 1.0 0.0 0.0 0.0 -1.3042937644999986 8.52533245 0.0 8.050561904 3.514109373 0.061 0.0 0.0 0.0 0.0 1.0 0.0 -1.2254040305999974 8.52289772 0.0 8.122130393 3.505587339 0.062 0.0 0.0 0.0 0.0 0.0 0.0 -1.14938719537 8.363410949 0.0 8.022497177 3.535145282 0.061 1.0 0.0 0.0 0.0 0.0 0.0 -1.2021617776699995 8.478836059 0.0 8.100152969 3.505046844 0.061 0.0 0.0 1.0 0.0 0.0 0.0 -1.3022188359500004 8.557715415 0.0 8.089229583 3.535699129 0.061 0.0 0.0 0.0 0.0 1.0 0.0 -1.242492521749998 8.562039375 0.0 8.153841972 3.532547235 0.061 0.0 0.0 0.0 0.0 0.0 0.0 -1.1982966721999984 8.44922924 0.0 8.075132369 3.558343648 0.06 1.0 0.0 0.0 0.0 0.0 0.0 -1.2136519290099974 8.538758277 0.0 8.151804924 3.531026124 0.062 0.0 0.0 1.0 0.0 0.0 0.0 -1.2947637786999984 8.59346199 0.0 8.12793827 3.561926364 0.063 0.0 0.0 0.0 0.0 1.0 0.0 -1.2548247463999989 8.59923458 0.0 8.174400329 3.57627058 0.063 0.0 0.0 0.0 0.0 0.0 0.0 -1.1975068199799985 8.496793746 0.0 8.111390113 3.598270654 0.064 1.0 0.0 0.0 0.0 0.0 0.0 -1.1911032607199985 8.579758644 0.0 8.193264007 3.567756414 0.068 0.0 0.0 1.0 0.0 0.0 0.0 -1.2635162312099995 8.628106117 0.0 8.161773681 3.599419593 0.071 0.0 0.0 0.0 0.0 1.0 0.0 -1.2208650000399976 8.638485908 0.0 8.202444076 3.610647678 0.074 0.0 0.0 0.0 0.0 0.0 0.0 -1.18501913879 8.534204483 0.0 8.120451927 3.633683919 0.074 1.0 0.0 0.0 0.0 0.0 0.0 -1.1703949324499994 8.611403465 0.0 8.199460983 3.60135889 0.079 0.0 0.0 1.0 0.0 0.0 0.0 -1.2463344976899984 8.643068313 0.0 8.150162696 3.635847806 0.081 0.0 0.0 0.0 0.0 1.0 0.0 -1.2332298596599978 8.637051582 0.0 8.179318428 3.641918897 0.076 0.0 0.0 0.0 0.0 0.0 0.0 -1.178435529369998 8.516675949 0.0 8.116368293 3.655374288 0.072 1.0 0.0 0.0 0.0 0.0 0.0 -1.2042304137599988 8.590856552 0.0 8.18810749 3.623513936 0.069 0.0 0.0 1.0 0.0 0.0 0.0 -1.2518676849999981 8.6338768 0.0 8.189083099 3.639951705 0.069 0.0 0.0 0.0 0.0 1.0 0.0 -1.2044526365799997 8.659213066 0.0 8.260558128 3.656872749 0.07 0.0 0.0 0.0 0.0 0.0 0.0 -1.1652841346200007 8.546245574 0.0 8.172073364 3.66407442 0.07 1.0 0.0 0.0 0.0 0.0 0.0 -1.2063328876500004 8.630218505 0.0 8.239624023 3.647979259 0.067 0.0 0.0 1.0 0.0 0.0 0.0 -1.3041776166699983 8.699078559 0.0 8.228731155 3.673537254 0.065 0.0 0.0 0.0 0.0 1.0 0.0 -1.2674214742500003 8.724544525 0.0 8.294263839 3.677818536 0.065 0.0 0.0 0.0 0.0 0.0 0.0 -1.2197317281299982 8.609492301 0.0 8.207374572 3.696922063 0.066 1.0 0.0 0.0 0.0 0.0 0.0 -1.2357817275199985 8.696442604 0.0 8.275868415 3.683866977 0.069 0.0 0.0 1.0 0.0 0.0 0.0 -1.3115644383599987 8.762062072 0.0 8.260525703 3.713035345 0.072 0.0 0.0 0.0 0.0 1.0 0.0 -1.2958317359899971 8.781502723 0.0 8.289086341 3.735238075 0.074 0.0 0.0 0.0 0.0 0.0 0.0 -1.217929522449999 8.656656265 0.0 8.203062057 3.756818532 0.079 1.0 0.0 0.0 0.0 0.0 0.0 -1.2537745185899976 8.755604743 0.0 8.247038841 3.763569355 0.086 0.0 0.0 1.0 0.0 0.0 0.0 -1.3237426417599987 8.792995452 0.0 8.228462219 3.785529613 0.084 0.0 0.0 0.0 0.0 1.0 0.0 -1.2877131526299996 8.817976951 0.0 8.297290802 3.801739215 0.083 0.0 0.0 0.0 0.0 0.0 0.0 -1.2746831838799992 8.710256576 0.0 8.202306747 3.833780288 0.08 1.0 0.0 0.0 0.0 0.0 0.0 -1.2549434740399994 8.768910408 0.0 8.274615287 3.836954593 0.083 0.0 0.0 1.0 0.0 0.0 0.0 -1.2962995194099984 8.807739257 0.0 8.272565841 3.857440233 0.084 0.0 0.0 0.0 0.0 1.0 0.0 -1.2723753191799998 8.823890686 0.0 8.328451156 3.877948999 0.081 0.0 0.0 0.0 0.0 0.0 0.0 -1.2508962139899984 8.748202323 0.0 8.278112411 3.890145301 0.078 1.0 0.0 0.0 0.0 0.0 0.0 -1.211335122369997 8.798990249 0.0 8.352213859 3.88701272 0.083 0.0 0.0 1.0 0.0 0.0 0.0 -1.254311225709998 8.835007667 0.0 8.349937438 3.905884265 0.083 0.0 0.0 0.0 0.0 1.0 0.0 -1.2206995851599993 8.871530532 0.0 8.406539916 3.930687665 0.087 0.0 0.0 0.0 0.0 0.0 0.0 -1.208484486249998 8.806640625 0.0 8.34542942 3.946965456 0.087 1.0 0.0 0.0 0.0 0.0 0.0 -1.1826503212299972 8.843223571 0.0 8.344052314 3.947254896 0.102 0.0 0.0 1.0 0.0 0.0 0.0 -1.2866820544899995 8.875187873 0.0 8.294420242 3.964083909 0.098 0.0 0.0 0.0 0.0 1.0 0.0 -1.2556949860900002 8.898902893 0.0 8.356775283 4.002667903 0.097 0.0 0.0 0.0 0.0 0.0 0.0 -1.1898722570299995 8.817919731 0.0 8.285387039 4.001223564 0.107 1.0 0.0 0.0 0.0 0.0 0.0 -1.1682153957899997 8.846743583 0.0 8.330474853 4.013947486 0.109 0.0 0.0 1.0 0.0 0.0 0.0 -1.220032261769998 8.872360229 0.0 8.312174797 4.037844657 0.108 0.0 0.0 0.0 0.0 1.0 0.0 -1.2037524993699988 8.885187149 0.0 8.384078979 4.080617427 0.099 0.0 0.0 0.0 0.0 0.0 0.0 -1.1884779769499985 8.788547515 0.0 8.335850715 4.070239543 0.089 1.0 0.0 0.0 0.0 0.0 0.0 -1.1903729767200004 8.830693244 0.0 8.404430389 4.07582426 0.084 0.0 0.0 1.0 0.0 0.0 0.0 -1.1989476081299975 8.864358901 0.0 8.42018795 4.084529876 0.087 0.0 0.0 0.0 0.0 1.0 0.0 -1.1974514106299985 8.905367851 0.0 8.472594261 4.123450279 0.086 0.0 0.0 0.0 0.0 0.0 0.0 -1.2263046167299978 8.849738121 0.0 8.41743946 4.103832721 0.078 1.0 0.0 0.0 0.0 0.0 0.0 -1.1859628276599976 8.897212982 0.0 8.488577842 4.111152648 0.083 0.0 0.0 1.0 0.0 0.0 0.0 -1.2449981039499975 8.909537315 0.0 8.452609062 4.129229068 0.081 0.0 0.0 0.0 0.0 1.0 0.0 -1.3053130231199996 8.962553024 0.0 8.484191894 4.153006553 0.074 0.0 0.0 0.0 0.0 0.0 0.0 -1.2672006013499986 8.891506195 0.0 8.460301399 4.138568878 0.07 1.0 0.0 0.0 0.0 0.0 0.0 -1.27898529223 8.919985771 0.0 8.508118629 4.149574279 0.064 0.0 0.0 1.0 0.0 0.0 0.0 -1.3041703713799984 8.928902626 0.0 8.511289596 4.159976005 0.06 0.0 0.0 0.0 0.0 1.0 0.0 -1.3350371850399996 8.991501808 0.0 8.551159858 4.195441246 0.06 0.0 0.0 0.0 0.0 0.0 0.0 -1.2754442502299983 8.920154571 0.0 8.548410415 4.179680824 0.056 1.0 0.0 0.0 0.0 0.0 0.0 -1.2569486998500001 8.958250045 0.0 8.591673851 4.189700126 0.06 0.0 0.0 1.0 0.0 0.0 0.0 -1.2606163993799975 8.970353126 0.0 8.583402633 4.207762718 0.064 0.0 0.0 0.0 0.0 1.0 0.0 -1.2456723650999988 9.02197647 0.0 8.647541046 4.233454227 0.066 0.0 0.0 0.0 0.0 0.0 0.0 -1.184648137929999 8.955347061 0.0 8.610424041 4.216385364 0.071 1.0 0.0 0.0 0.0 0.0 0.0 -1.170968012489999 9.006040573 0.0 8.640257835 4.219890117 0.08 0.0 0.0 1.0 0.0 0.0 0.0 -1.2246059593199983 9.010995864 0.0 8.601359367 4.245533943 0.078 0.0 0.0 0.0 0.0 1.0 0.0 -1.2255820024100008 9.057142257 0.0 8.643388748 4.277040958 0.08 0.0 0.0 0.0 0.0 0.0 0.0 -1.15514512027 8.994907379 0.0 8.574950218 4.263763904 0.095 1.0 0.0 0.0 0.0 0.0 0.0 -1.2017985702599996 9.007501602 0.0 8.59736824 4.276860713 0.083 0.0 0.0 1.0 0.0 0.0 0.0 -1.2190971642699984 9.011557579 0.0 8.5846529 4.292006015 0.083 0.0 0.0 0.0 0.0 1.0 0.0 -1.1736809720899988 9.045886993 0.0 8.63230133 4.323218345 0.091 0.0 0.0 0.0 0.0 0.0 0.0 -1.1249552521199992 8.982616424 0.0 8.550121307 4.302428722 0.104 1.0 0.0 0.0 0.0 0.0 0.0 -1.0839656471899985 9.002806663 0.0 8.581935882 4.312877655 0.111 0.0 0.0 1.0 0.0 0.0 0.0 -1.1428792263599985 9.016630172 0.0 8.529502868 4.330983161 0.113 0.0 0.0 0.0 0.0 1.0 0.0 -1.2027098380299992 9.053618431 0.0 8.575448989 4.371483802 0.099 0.0 0.0 0.0 0.0 0.0 0.0 -1.1796236304499992 8.975346565 0.0 8.523797988 4.351335525 0.096 1.0 0.0 0.0 0.0 0.0 0.0 -1.176240811979997 9.000764846 0.0 8.574183464 4.355143547 0.092 0.0 0.0 1.0 0.0 0.0 0.0 -1.2240176919399988 9.000425338 0.0 8.54430294 4.376699924 0.088 0.0 0.0 0.0 0.0 1.0 0.0 -1.2424035965299987 9.040018081 0.0 8.607216835 4.409410953 0.08 0.0 0.0 0.0 0.0 0.0 0.0 -1.2225686341399995 8.984577178 0.0 8.591823577 4.38923788 0.074 1.0 0.0 0.0 0.0 0.0 0.0 -1.1725176731199978 9.019927024 0.0 8.649829864 4.385906696 0.081 0.0 0.0 1.0 0.0 0.0 0.0 -1.1979867122099992 9.025687217 0.0 8.617159843 4.405193805 0.084 0.0 0.0 0.0 0.0 1.0 0.0 -1.2206020324499998 9.080192565 0.0 8.660705566 4.439741134 0.083 0.0 0.0 0.0 0.0 0.0 0.0 -1.2372148383999995 9.02994728 0.0 8.605595588 4.413525104 0.079 1.0 0.0 0.0 0.0 0.0 0.0 -1.1948157041199978 9.038796424 0.0 8.648854255 4.408327579 0.081 0.0 0.0 1.0 0.0 0.0 0.0 -1.2600254844099998 9.064915657 0.0 8.631439208 4.42155981 0.077 0.0 0.0 0.0 0.0 1.0 0.0 -1.273367545219998 9.113928794 0.0 8.705471992 4.458987712 0.07 0.0 0.0 0.0 0.0 0.0 0.0 -1.21770557503 9.033036231 0.0 8.637735366 4.429792404 0.077 1.0 0.0 0.0 0.0 0.0 0.0 -1.257603061299998 9.07110691 0.0 8.672847747 4.427179336 0.07 0.0 0.0 1.0 0.0 0.0 0.0 -1.31932930075 9.096274375 0.0 8.666980743 4.444414615 0.064 0.0 0.0 0.0 0.0 1.0 0.0 -1.2854491012799991 9.131516456 0.0 8.731544494 4.482052803 0.066 0.0 0.0 0.0 0.0 0.0 0.0 -1.2576195240899986 9.044135093 0.0 8.688053131 4.461576938 0.06 1.0 0.0 0.0 0.0 0.0 0.0 -1.2730580910599998 9.100618362 0.0 8.736440658 4.462477207 0.06 0.0 0.0 1.0 0.0 0.0 0.0 -1.3220735225099993 9.118103027 0.0 8.716322898 4.475049972 0.058 0.0 0.0 0.0 0.0 1.0 0.0 -1.2989085776399993 9.157114028 0.0 8.774430274 4.509518146 0.06 0.0 0.0 0.0 0.0 0.0 0.0 -1.2501394552599971 9.061203002 0.0 8.733099937 4.487478256 0.056 1.0 0.0 0.0 0.0 0.0 0.0 -1.2408221936599984 9.106268882 0.0 8.797911643 4.485451698 0.055 0.0 0.0 1.0 0.0 0.0 0.0 -1.244689756849998 9.131279945 0.0 8.790316581 4.487185955 0.062 0.0 0.0 0.0 0.0 1.0 0.0 -1.2743429903099983 9.174376487 0.0 8.82764244 4.523775577 0.058 0.0 0.0 0.0 0.0 0.0 0.0 -1.2215959259199987 9.103868484 0.0 8.809855461 4.498519897 0.056 1.0 0.0 0.0 0.0 0.0 0.0 -1.176472415839998 9.133583068 0.0 8.870276451 4.499443054 0.06 0.0 0.0 1.0 0.0 0.0 0.0 -1.2087780319299988 9.155993461 0.0 8.849584579 4.503956794 0.063 0.0 0.0 0.0 0.0 1.0 0.0 -1.203139072349999 9.190898895 0.0 8.899236679 4.542283535 0.062 0.0 0.0 0.0 0.0 0.0 0.0 -1.146624067349999 9.136808395 0.0 8.858069419 4.521147251 0.07 1.0 0.0 0.0 0.0 0.0 0.0 -1.157375321589999 9.165657043 0.0 8.875347137 4.520614147 0.071 0.0 0.0 1.0 0.0 0.0 0.0 -1.180771021549999 9.166810035 0.0 8.853254318 4.530425071 0.071 0.0 0.0 0.0 0.0 1.0 0.0 -1.1370863336399994 9.206169128 0.0 8.909424781 4.567780017 0.078 0.0 0.0 0.0 0.0 0.0 0.0 -1.1160375409999996 9.1692667 0.0 8.83393383 4.551548004 0.09 1.0 0.0 0.0 0.0 0.0 0.0 -1.1126466959500003 9.188996315 0.0 8.85961914 4.553518772 0.09 0.0 0.0 1.0 0.0 0.0 0.0 -1.4109046917299979 9.079103469 9.079103469 8.795776367 4.559440135 0.091 0.0 0.0 0.0 0.0 1.0 1.0 -1.3301124194599996 9.110098838 9.110098838 8.917403221 4.586802482 0.09 0.0 0.0 0.0 0.0 0.0 0.0 -1.3946016223499988 9.077347755 9.077347755 8.832875251 4.57378292 0.086 1.0 1.0 0.0 0.0 0.0 0.0 -1.4215679935099996 9.101797103 9.101797103 8.834514617 4.590462684 0.086 0.0 0.0 1.0 1.0 0.0 0.0 -1.4302174045700007 9.111729621 9.111729621 8.828346252 4.604870319 0.088 0.0 0.0 0.0 0.0 1.0 1.0 -1.3999023704000004 9.12876892 9.12876892 8.883167266 4.647942066 0.087 0.0 0.0 0.0 0.0 0.0 0.0 -1.45462099056 9.096869468 9.096869468 8.813976287 4.634146213 0.082 1.0 1.0 0.0 0.0 0.0 0.0 -1.4347083797599984 9.107293128 9.107293128 8.83694458 4.643621444 0.084 0.0 0.0 1.0 1.0 0.0 0.0 -1.4564609997799989 9.118104934 9.118104934 8.836981773 4.660888671 0.082 0.0 0.0 0.0 0.0 1.0 1.0 -1.419736021339999 9.137835502 9.137835502 8.933351516 4.692081451 0.074 0.0 0.0 0.0 0.0 0.0 0.0 -1.44739395109 9.056394577 9.056394577 8.851537704 4.679627895 0.065 1.0 1.0 0.0 0.0 0.0 0.0 -1.418430361969997 9.088569641 9.088569641 8.909006118 4.68638134 0.067 0.0 0.0 1.0 1.0 0.0 0.0 -1.4866376477499992 9.106137275 9.106137275 8.888772964 4.693364143 0.061 0.0 0.0 0.0 0.0 1.0 1.0 -1.4352537924899997 9.120106697 9.120106697 8.979351043 4.722953319 0.056 0.0 0.0 0.0 0.0 0.0 0.0 -1.4181839333699995 9.078166961 9.078166961 8.919931411 4.707094669 0.062 1.0 1.0 0.0 0.0 0.0 0.0 -1.3837343217799984 9.112044334 9.112044334 8.962027549 4.705920219 0.069 0.0 0.0 1.0 1.0 0.0 0.0 -1.3868939475 9.12527275 9.12527275 8.95149517 4.713934898 0.074 0.0 0.0 0.0 0.0 1.0 1.0 -1.349016779239998 9.140267372 9.140267372 9.006916046 4.743627071 0.074 0.0 0.0 0.0 0.0 0.0 0.0 -1.3920732929499986 9.099702835 9.099702835 8.930109024 4.726502418 0.071 1.0 1.0 0.0 0.0 0.0 0.0 -1.43200441546 9.130421638 9.130421638 8.958108901 4.72880268 0.064 0.0 0.0 1.0 1.0 0.0 0.0 -1.4534879956899982 9.139965057 9.139965057 8.961501121 4.73698759 0.061 0.0 0.0 0.0 0.0 1.0 1.0 -1.3990604232500001 9.145095825 9.145095825 9.049351692 4.763625621 0.055 0.0 0.0 0.0 0.0 0.0 0.0