TABLE 5 Estimated Causal Models for TC and JTC In logs,,,,
,Ρ12TC,ΡΡ12JTC,,
Constant,0.0544*,–0.0368*,,
,(0.0073),(0.0076),,
DAYS,0.0018,0.0026*,,
,(0.0024),(0.0010),,
EASTER,–0.0535*,–0.0710*,,
,(0.0106),(0.0041),,
FEB93,,0.0579*,,
,,(0.0136),,
APR93,,–0.0870*,,
,,(0.0137),,
MAR94,0.0368*,,,
,(0.0165),,,
JUL95,,0.0492*,,
,,(0.0085),,
DPTCi,0.1576,–0.0134
,(0.3032),(0.1387)
MRLi,0.2517*B4 - 0.4175*B5,0.1800*B4 - 0.2087*B5
,(0.1344)      (0.1665)    ,(0.0861)      (0.0977)    
,(1 + 0.9897*B),
,(0.0672)    ,
q1,0.4557*,
,(0.1316),
q2,–0.5399*,0.4671*
,(0.0997),(0.1641)
q3,,–0.5261*
,,(0.1628)
Q12,–0.1285,–0.4048*
,(0.0939),(0.0949)
f1,0.3240*,0.9753*
,(0.1042),(0.1044)
f2,,–0.6448*
,,(0.1997)
f3,0.2694*,0.3357*
,(0.0964),(0.1314)
f4,,–0.3400*
,,(0.0942)
sa,0.0256,0.03035
R2,0.7,0.86
"LBQ (12, 24, 36)","11.2, 22.8, 45.6","10.6, 14.6, 21.9"
Jarque-Bera (p-value),2.75 (0.252),2.69 (0.260)
White’s heterosk (p-value),6.68 (0.946),5.86 (0.97)
"Notes: Standard errors in parenthesis. * represents significant at 5%; Ρ = (1 – B) and Ρ12 = (1 – B12): regular and seasonal differences; B: lag operator; DPTCi (i = TC, JTC): rates of growth of deflated price for TC tickets; MRL: Metro route length; LBQ: Ljung-Box Q statistics; sa = residual standard error.",,