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Secon!% an important assumption for the consistency of the ARDL mo!el is that the resulting resi!ual of the error4correction mo!el "e serially uncorrelate! an! the e-planatory varia"les can "e treate! as e-ogenous. &irst% the e-istence of a long4run relationship among the varia"les of interest re+uires the coe?cient on the errorBcorrection term to "e negative an! not lower than 4/. However% there are several re+uirements for the vali!ity% consistency an! e?ciency of this metho!ology. 8he shortrun is allowe! to "e country4specic% !ue to the wi!ely !i3erent impact of the vulnera"ility to nancial crises an! e-ternal shoc's% sta"iliation policies% monetary policy an! so on.
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8his 8his is particularly useful when there are reasons to e-pect that the long4run e+uili"rium relationship "etween the varia"les is similar across countries or% at least% a su"4 8heory of panel ARDL (recon!itions regar!ing sationarity of panel ar!l We can run ar!l mo!el in three cases When all varia"les are stationary at level When all varia"les are stationary at rst !i3erence 6r when varia"les are stationary at level an! rst !i3erence means in mi-ture nature of sationarity 9 Suppose I have : varia"les suppose stationary at level an! at rst !i3erence so I can go now for ARDL mo!el Remem"er we can mo!el 8he main characteristic of ()* is that it allows short4run coe?cients% inclu!ing the intercepts% the spee! of to the long4run e+uili"rium values% an! error variances to "e heterogeneous country "y country% while the long4run slope coe? coe?ci cien ents ts are are restr estric icte te! ! to "e homo homoge gene neou ous s acr across oss coun countr trie ies. When you will 67 results will "e pro!uce ow if you want to see in!ivi!ual e3ect for !i3erent companies or country% go to view of you resulte! win!ow an! clic' cli c' on view an! select cross option an! 67.
PANEL ARDL EVIEWS HOW TO
you can perform this test easily with the help of few steps following are eviews steps while in following section section you will n! theory a"out panel ar!l an! how to run panel ARDL using stata #$%&urther panel ARDL have two estimators %means we can run ARDL with two metho!s "ut EVIEWS only one estimator 'nown as ()* while stata haive "oth ()* an! )* *o to +uic' an! select estimate e+uation Select from !rop !own "utton,com"o "o- or from metho! ta" "elow e+uation specication ()*,ARDL ow in e+uation specication ta" write your e+uation li'e co/ f!i g!p here you can can see see rst rst i writ write e !epe !epen! n!en entt varia aria"l "le e whic which h is co/ co/ an! aft after this his all in!epen!ent varia"le an! !on0t inclu!e 121 means constant ow select -e! -e! or automatic automatic lags its all up to "ut if you choose automatic automatic lags you can assign !i3erent lag to !epen!ent an! in!epen!ent varia"les %li'e its up4 to you% mean i can assign assign ma-imum ma-imum 5 lags to !epen!ent !epen!ent varia"le% varia"le% while $ to in!epen!ent varia"le% eviews automatically choose optimal lags even you assign 5 %eviews can select / as optimal%"ut if choose -e! lags option then assign same ma-imum lags "oth to !epen!ent an! in!epen!ent varia"le.