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Rivers-Vuong Test of Non-nested Models
| Model A vs. Model B | Test Statistic |
|---|---|
| Conventional DM vs. Quasi-FMDM | 3.85*** |
| Conventional DM vs. FMDM | 3 98*** |
| Quasi-FMDM vs. FMDM | 0.15 |
Note:
indicates significance at the 1% level. Under the null hypothesis of equivalence between Models A and B, the Rivers-Vuong test statistic is standard normally distributed. A positive (negative) statistically significant test statistic suggests that Model B (A) is preferred to Model A (B).
