Table 11 Variance decomposition of maize and copper prices—1982 to 2021 data
From: Effects of crude oil prices on copper and maize prices
Equation | Period | SE | Maize price | Copper price | Crude oil price |
|---|---|---|---|---|---|
Maize Price | 1 | 0.06 | 100.00 | 0.00 | 0.00 |
6 | 0.16 | 98.10 | 1.74 | 0.15 | |
12 | 0.20 | 91.30 | 6.67 | 2.03 | |
18 | 0.23 | 81.19 | 13.17 | 5.64 | |
24 | 0.25 | 70.76 | 19.53 | 9.71 | |
Copper Price | 1 | 0.06 | 1.33 | 98.67 | 0.00 |
6 | 0.19 | 0.86 | 98.78 | 0.36 | |
12 | 0.28 | 0.52 | 98.74 | 0.74 | |
18 | 0.36 | 0.91 | 97.93 | 1.16 | |
24 | 0.42 | 1.50 | 97.00 | 1.49 |