Dependent variable: ΔLog (consumption of cigarettes) Estimation method: ordinary least squares Sample: 2005:01 2018:06 | ||||
Variable | Coefficient | SE | t-statistic | P value |
Z(t–1) | −0.807217 | 0.094631 | −8.530189 | 0.0000 |
Δ Log (real retail pricet) | −0.911623 | 0.163823 | −5.564695 | 0.0000 |
Δ Log (real retail pricet–1) | −0.279836 | 0.170829 | −1.638103 | 0.1036 |
Δ Log (real retail pricet–2) | 0.060683 | 0.173316 | 0.350127 | 0.7268 |
Δ Log (real incomet) | 0.334004 | 0.032027 | 10.42893 | 0.0000 |
Δ Log (real incomet–1) | 0.26583 | 0.033446 | 7.821132 | 0.0000 |
Δ Log (real incomet–2) | 0.108007 | 0.028520 | 3.787008 | 0.0002 |
Christmas bonus | −0.241369 | 0.021381 | −11.28871 | 0.0000 |
Δ Log (Consumptiont–1) | −0.373577 | 0.070983 | −5.262917 | 0.0000 |
Δ Log (Consumptiont–2) | −0.328439 | 0.05735 | −5.726882 | 0.0000 |
Δ Log (real retail pricet)*D2016 | −0.471339 | 0.218453 | −2.157623 | 0.0326 |
Δ Log (real retail pricet–1)*D2016 | −0.059271 | 0.221668 | −0.267384 | 0.7896 |
Δ Log (real retail pricet–2)*D2016 | −0.516597 | 0.220334 | −2.344608 | 0.0204 |
Intercept | 0.017983 | 0.004576 | 3.929505 | 0.0001 |
Adjusted R squared | 0.803356 | |||
F-statistic | 50.65259 | |||
P value | 0.000000 |
Author estimations.