TABLE 2
FROM:
An Analysis of Bunker Adjustment Factors and Freight Rates in the Europe/Far East Market (2000–2004)
Pierre Cariou and Francois-Charles Wolff
BACK TO ARTICLETable 2. Results of the VAR model for D.BAF and D.ABP
| Variables | Coefficient | t-value | Confidence interval (95%) |
|---|---|---|---|
| Equation 1: D.BAFt | |||
| D.BAFt-1 | -0.212 | -1.410 | [-0.507; 0.083] |
| D.ABPt-1 | 1.475*** | 3.360 | [0.614; 2.336] |
| Constant | 0.005 | 0.520 | |
Granger causality test (
2; prob.) | (11.269; 0.000) | ||
| R 2 | 0.171 | ||
| Equation 2: D.ABPt | |||
| D.ABPt-1 | 0.235 | 1.390 | [-0.095; 0.566] |
| D.BAFt-1 | -0.068 | -1.180 | [-0.181; 0.045] |
| Constant | 0.004 | 0.900 | |
| Granger causality test (
2; prob.) | (1.382; 0.240) | ||
| R 2 | 0.035 | ||
Significance levels are respectively 1% (***), 5% (**) and 10% (*). The size of the sample is 61 observations.
