Cointegrating vector [1 βc] such that [1βc][Ct−1Pt−11])
[1 -1.826 7.603]
Note: 1)Indicate Significance at 5% level. For the explanation of the trace statistic, refer to Johansen (1995). The p-value means MacKinnon, Haug and Michelis (1999) one-sided p-value. The values less than 1/1000 are dropped.