Table 3

Wald test† results for the equation (2)

Commoditiesχ2 statistics
Food8.09**
Health14.01***
Education10.31**
Housing4.12
Entertainment4.02
Clothing2.94
Alcohol33.21***
Energy and Electricity12.5***
Durable goods19.95***
  • *, ** and *** show significance levels at 10%, 5% and 1%, respectively.

  • †A parametric statistical test for the joint significance of parameters.