TABLE 6.
Asymmetric parameters of NSR.
| Variables | Short-term coefficients | Std. Error | t-stat | Prob. |
| D(USD_NEG) | 0.039324** | 0.019503 | 2.016267 | 0.0487 |
| D(USC_POS) | −0.002147*** | 0.000382 | −5.622014 | 0 |
| D(USC_NEG) | 0.002319*** | 0.00069 | 3.360414 | 0.0014 |
| D(USC_NEG(-1)) | −0.008198*** | 0.001064 | −7.703282 | 0 |
| ECTt–1 | −1.501702*** | 0.093855 | −16.00026 | 0 |
| R-Squared | 0.812596 | |||
| Adjusted R-squared | 0.800102 | |||
| Durbin-Watson stat | 2.130245 | |||
| Variables | Long-term coefficients | Std. Error | t-stat | Prob. |
| USD_POS | −0.013042*** | 0.004465 | −2.920922 | 0.0051 |
| USD_NEG | −0.026413 | 0.030567 | −0.864107 | 0.3913 |
| USC_POS | 0.001013*** | 0.00034 | 2.977381 | 0.0043 |
| USC_NEG | 0.004258** | 0.001923 | 2.214416 | 0.031 |
| C | −0.525513* | 0.274541 | −1.914153 | 0.0608 |
*, **, and *** denote 10, 5, and 1% level of significance, respectively. Source: Author’s calculation.