Table 16.

Heteroscedasticity test: Breusch–Pagan–Godfrey for the model Romania and COVID-19 (Italy)—new cases and new deaths.

Heteroscedasticity Test: Breusch–Pagan–Godfrey
ARDL—The number of new cases in Italy due to COVID-19
BET_R
F-statistic	1.708739	Prob. F(18,54)	0.0665
Obs*R-squared	26.49074	Prob. Chi-Square(18)	0.0891
RO_BOND
F-statistic	0.693446	Prob. F(28,44)	0.8464
Obs*R-squared	22.35071	Prob. Chi-Square(28)	0.7648
ARDL—The number of new deaths in Italy due to COVID-19
BET_R
F-statistic	0.80796	Prob. F(27,45)	0.7191
Obs*R-squared	23.83434	Prob. Chi-Square(27)	0.6395
RO_BOND
F-statistic	0.626455	Prob. F(29,43)	0.9063
Obs*R-squared	21.68164	Prob. Chi-Square(29)	0.8331

Source: authors’ own calculations. Notes: The Obs*R-squared statistic for the Breusch-Pagan-Godfrey test is computed by multiplying the sample size by the coefficient of determination of the regression of squared residuals from the original regression. For the definition of variables, please see Table 1.