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Table 4 Causality tests

From: Co-movement of commodity price indexes and energy price index: a wavelet coherence approach

Direction of causality MWALT Prob
Toda–Yamamoto causality
API → EPI 17.127 0.000***
EPI → API 1.204 0.547
IPI → EPI 8.215 0.016**
EPI → IPI 3.467 0.176
MPI → EPI 8.891 0.031**
EPI → MPI 2.744 0.432
  F-stat Prob
Gradual shift causality
API → EPI 17.303 0.000***
EPI → API 1.331 0.513
IPI → EPI 8.451 0.014**
EPI → IPI 3.558 0.168
MPI → EPI 9.292 0.025**
EPI → MPI 2.882 0.410
  1.  → indicates the direction of causality. The optimal lag is selected using AIC
  2. ***, **, and * denote statistically significant at 1%, 5%, and 10% levels, respectively