# Replicate Johansen's analysis of Danish data in chapter 7
# of his 1995 book

open denmark

# initial cointegration analysis
coint2 2 LRM LRY IBO IDE --rc --seas

# unrestricted rank-1 VECM
vecm 2 1 LRM LRY IBO IDE --rc --seas --quiet

# initial beta restriction
restrict 
  b1 + b2 = 0
end restrict --full --quiet

# test a second beta restriction within the first
restrict 
  b3 + b4 = 0
end restrict --full --quiet

# weak exogeneity restriction, tested within the beta
# restrictions
restrict 
  a3 = 0
  a4 = 0
end restrict --quiet