Financial Innovation

Table 4 Wald test results

From: Did weekly economic index and volatility index impact US food sales during the first year of the pandemic?

Parameters	Coefficient	F-Stat
π_* (v)	0.24	0.8685
ρ_VIX* (v)	*8.45*^b	*0.0374*
ω_WEI* (v)	5.56	0.1353
ꝺ \(\delta_{1}\)(v)	0.40	0.7558
ꝺ \(\alpha_{0}\)(v)	1.12	0.3516
ꝺ \(\alpha_{1}\)(v)	0.56	0.6420
ꝺ \(\beta_{0}\)(v)	0.63	0.5966
ꝺ \(\beta_{1}\)(v)	*4.11*^b	*0.0112*
ꝺ \(\beta_{2}\) (v)	1.76	0.1687
Short-run Cumulative Effect
ꝺ \(\alpha_{*}\)	0.96	0.8115
ꝺ \(\beta_{*}\)	3.16	0.3673

Notes: The coefficients in bold-italics with a, b, and c indicates level of significance at 1%, 5%, and 10%, respectively

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