RDP 9612: External Influences on Output: An Industry Analysis Appendix D: Alternative Models of Manufacturing Output

Gordon de Brouwer and John Romalis

December 1996

Table D.1: Growth in Manufacturing Sector Output (Δyi)
1980:Q3 to 1994:Q1
  Food Textiles Clothing Wood Paper Chemicals
Inline Equation −0.46***
(0.14)		 −0.51***
(0.11)		 −0.34***
(0.09)		 −0.60***
(0.13)		 −0.17***
(0.03)		 −0.70***
(0.23)
Inline Equation 0.41***
(0.16)		         0.49***
(0.16)
Inline Equation     1.53*
(0.86)		      
Inline Equation       1.16*
(0.65)		    
Inline Equation   2.61***
(0.88)		   0.83**
(0.42)		    
Inline Equation            
Inline Equation            
Inline Equation       0.28**
(0.13)		    
Inline Equation   0.97*
(0.54)		        
Inline Equation            
Inline Equation     1.04**
(0.40)		      
Inline Equation            
Inline Equation         0.86**
(0.41)		  
Δfarm t            
Δfarm t−1            
era i,t   0.005***
(0.001)		 0.0003
(0.0002)		 0.020***
(0.006)		    
tot t−1       0.36**
(0.16)		    
rer t−1     −0.19**
(0.08)		 −0.30***
(0.09)		 −0.13***
(0.04)		  
Inline Equation -0.0077**
[0.01]
{0 to 6}		 0.0186***
[0.00]
{0 to 6}		 −0.0049***
[0.00]
{1 to 6}		      
Inline Equation 0.11 0.40 0.18 0.27 0.14 0.30
  Non-metallic min. products Basic metals Fabricated metals Transport equipment Machinery Miscellaneous
Inline Equation −0.60***
(0.15)		 −0.39***
(0.08)		 −0.39***
(0.11)		 −0.83***
(0.17)		 −0.27***
(0.09)		 −0.41***
(0.08)
Inline Equation 0.37***
(0.06)		   0.49***
(0.19)		 0.43***
(0.13)		   0.13*
(0.07)
Inline Equation 1.21*
(0.69)		   2.30***
(0.55)		      
Inline Equation            
Inline Equation            
Inline Equation         1.34**
(0.60)		  
Inline Equation 2.31***
(0.64)		          
Inline Equation   0.56***
(0.13)		     0.33***
(0.11)		  
Inline Equation            
Inline Equation            
Inline Equation     0.86**
(0.41)		     1.37***
(0.41)
Δfarmt       0.07**
(0.04)		    
Δfarm t−1       0.08**
(0.04)		    
era i,t     0.012***
(0.003)		      
tot t−1 0.40*
(0.21)		 0.26***
(0.07)		 0.26***
(0.08)		 0.23
(0.17)		 0.21
(0.14)		  
rer t−1 −0.39**
(0.18)		   −0.26***
(0.07)		 −0.21**
(0.10)		 −0.16*
(0.10)		 −0.20***
(0.06)
Inline Equation −0.0109***
[0.00]
{1 to 6}		 −0.0027***
[0.00]
{0 to 6}		 .0009***
[0.00]
{1 to 6}		 −0.0134***
[0.00]
{0 to 6}		 −0.0122***
[0.00]
{0 to 6]		  
Inline Equation 0.39 0.27 0.37 0.41 0.29 0.26
Notes: *,** and *** denote significance at the 10%, 5% and 1% levels, respectively. Standard errors are in parentheses ( ). Joint significance of all real cash rates are reported in square brackets [ ]. Lags of real cash rates are reported in braces { }. All variables are in logs except industry assistance (era) and real cash rates (r). Notation is the same as for Equation (2).