An Empirical Study on Relationship between Residents’ Disposable Income and CPI Based on TVECM: Application of Bootstrap SupLM Testing for Threshold Cointegration

Table 7

Estimation results of model (2).

Variable	The first mechanism		The second mechanism
	ΔSRt parameter estimation	ΔCPIt parameter estimation	ΔSRt parameter estimation	ΔCPIt parameter estimation
εt−1	0.053 (0.114)	0.558 (0.065)	0.281 (0.288)	0.674 (0.250)
Constant term	1.968 (1.400)	2.643 (0.708)	−1.226 (0.673)	−1.345 (0.561)
ΔSRt−1	0.813 (0.299)	1.042 (0.145)	−0.086 (0.173)	0.317 (0.139)
ΔSRt−2	−0.718 (0.204)	−0.148 (0.098)	−0.165 (0.168)	−0.423 (0.127)
ΔSRt−3	0.659 (0.168)	−0.795 (0.076)	0.238 (0.339)	0.124 (0.285)
ΔCPIt−1	−0.413 (0.075)	−0.087 (0.036)	−0.430 (0.560)	−0.436 (0.412)
ΔCPIt−2	−0.781 (0.372)	−1.167 (0.162)	0.247 (0.221)	0.170 (0.165)
ΔCPIt−3	0.829 (0.142)	1.635 (0.045)	−0.739 (0.127)	−0.549 (0.123)