| lnPC | = Natural log of yearly per capita wheat consumed; |
| ln%UR t | = Natural log of the share of urban population (%); |
| lnGDP t | = Natural log of the per capita GDP (US$); |
| lnDPR t | = Natural log of the domestically produced wheat in tons; and |
| lnIMP t | = Natural log of wheat imported (tons) |
| yd82 | = Year>1981 dummy (yes=1) |
| k-1 | = the lag length is reduced by 1 |
| βi, αj, ϕj, γm, θn, ψ, τ, ω | = short-run dynamic coefficients of the model's adjustment toward long-term equilibrium |
| λ i | = speed of adjustment parameter with a negative sign; |
| ECTt−1 | = the error correction term is the lagged value of the residuals obtained from the cointegration regression of the dependent variables on the regressors. Contains long-term information derived from the long-term cointegration relationship; |
| μ it | = the residuals (stochastic error term/ impulses or innovations or shocks. |