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ARDL long run results based on ARDL (1, 2, 2, 2)
| Predictor | Coefficient | SE |
|---|---|---|
| πe | 0.0103* | 0.006 |
| DMLR | 0.079 | 0.067 |
| DMI | 0.006 | 0.076 |
Source: Author’s compilation
**,***Indicate significance at 5 and 1% levels, respectively. DMLR denotes dummy variable for the break in nominal interest rate. DMI denotes dummy variable for the break in expected inflation
