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Table 6 - Error Correlations Across Equations

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INITIAL SPECIFICATION

Ρμ Retail Gas Eat/Drink Service
Retail 1.00 0.28 0.40 0.58
Gas 0.28 1.00 0.58 0.34
Eat/Drink 0.40 0.58 1.00 0.60
Service 0.58 0.34 0.60 1.00

 

Ρν Retail Gas Eat/Drink Service
Retail 1.00 0.31 0.40 0.30
Gas 0.31 1.00 0.09 0.11
Eat/Drink 0.40 0.09 1.00 0.32
Service 0.30 0.11 0.32 1.00

FINAL SPECIFICATION

Ρμ Retail Gas Eat/Drink Service
Retail 1.00 0.27 0.43 0.62
Gas 0.27 1.00 0.59 0.38
Eat/Drink 0.43 0.59 1.00 0.67
Service 0.62 0.38 0.67 1.00

 

Ρν Retail Gas Eat/Drink Service
Retail 1.00 0.31 0.39 0.29
Gas 0.31 1.00 0.08 0.09
Eat/Drink 0.39 0.08 1.00 0.31
Service 0.29 0.09 0.31 1.00
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