Long-run elasticity estimation
| Dependent variable: Log (consumption of cigarettes) Estimation method: ordinary least squares Sample: 2005:01 2018:06 | ||||
| Variable | Coefficient | SE | t-statistic | P value |
| Log (real retail price) | −0.441378 | 0.041681 | −10.58949 | 0.0000 |
| Log (real income) | 0.127087 | 0.032331 | 3.93081 | 0.0001 |
| Christmas bonus | −0.113140 | 0.023840 | −4.745777 | 0.0000 |
| Intercept | 9.548160 | 0.254803 | 37.47268 | 0.0000 |
| Adjusted R squared | 0.508313 | |||
| F-statistic | 56.48126 | |||
| P value | 0.000000 | |||
Author estimations.