Dependent variable: M2
Regressors: Income, CPI, Real Effective Exchange Rate
Wald Test: c(1)=c(2)=c(3)=c(4)=c(5)=0 yields a F-Statistic of 279.9628.
The intention ofcourse is to compare the F-statistic to the Critical Bounds by Narayan (2005) since my sample size is 35.
My question is: is there any criteria that guides the size of the F-statistic as I am afraid that the F-Statistic i obtained under the Wald test is too large.
Your commentary and advice will be greatly appreciated. Thank you.