Table 5 Short-run estimates based on PMG for India
From: COVID-19 pandemic and the exchange rate movements: evidence from six major COVID-19 hot spots
Regressor | Coef | Std. Err. | t-statistic | Prob.| |
|---|---|---|---|---|
Dependent variable; Exchange rate | ||||
ECT | − 0.006866 | 2.24E-05 | − 306.5230 | 0.0000*** |
D (LEXC)t-1 | − 0.219259 | 0.004939 | − 44.39123 | 0.0000*** |
D(LEXC)t-2 | − 0.030092 | 0.0044758 | − 6.324174 | 0.0000*** |
D(LTD) | 0.0033909 | 1.43E-05 | 237.1258 | 0.0000*** |
D(LTD)t-1 | 0.003909 | 1.19E-05 | 328.6798 | 0.0000*** |
Trend | 1.47E-05 | 1.47E-10 | 100,405.2 | 0.0000*** |
Cons | − 0.027569 | 0.000363 | − 75.95988 | 0.0000*** |