Dear Sir,

I want to estimate bivariate cointegration and error correction model for I(1) series.

After i run the model i am getting the following output

MODEL SUMMARY

Sample: 1 to 3484 (3484 observations)

Effective Sample: 9 to 3484 (3476 observations)

Obs. - No. of variables: 3459

System variables: LFP LSP

Constant/Trend: Restricted Constant

Lags in VAR: 8

I(2) analysis not available for the specified model.

The unrestricted estimates:

BETA(transposed)

LFP LSP CONSTANT

Beta(1) 122.564 -122.176 -3.880. Why i am getting two Beta over here? and Which one is my original cointegrating vector

Beta(2) 0.681 -2.124 15.022

ALPHA

Alpha(1) Alpha(2)

DLFP -0.001 0.000

(-3.413) (2.722)

DLSP 0.001 0.000

(6.425) (2.265)

PI

LFP LSP CONSTANT

DLFP -0.073 0.072 0.010

(-3.398) (3.365) (3.490)

DLSP 0.102 -0.103 0.001

(6.438) (-6.464) (0.586)

Log-Likelihood = 33414.312