Table 4
Long-run equilibrium, ordinary least squares (OLS), dependent variable: Qt (trend adjusted monthly sales of domestic filtered cigarettes)
| Independent variables | Coefficient | SE | t Statistic |
| Pt (real average retail price) | −820.4694† | 400.0634 | −2.05 |
| Yt (real average income) | 0.781775† | 0.334358 | 2.34 |
| Indext (other tobacco control measures) | −631.0282† | 282.1295 | −2.24 |
| Constant | 9581.115† | 932.7615 | 10.27 |
↵† Significant at α=5%.
R2: 0.4790; p values for diagnostic tests: Jarque–Bera test for normality of model residuals: 0.1508; Breusch–Godfrey Lagrange multiplier test for autocorrelation (three lags): 0.0000; White's test for homoscedasticity: 0.2111.
Elasticities calculated at means: (eg,
).
