When I use EViews to estimate an ARDL model, it asks me whether to estimate with "restricted constant", "constant", "restricted trend", or "trend". What does it mean by "restricted"?
In this case, "restricted" means that there is also a constant or a trend in the error correction term of the CECM, in addition to the level variables. Note that when you choose this option, the mentioned terms will appear in the second table in the "Coefficient Diagnostics" > "Long Run Form and Bounds Test" option. Chapter 27 of the Eviews manual explains the different specifications of ARDL models that can be represented as CECM.
In ARDL model, “Restricted constant” means that the constant term is restricted to be equal across all variables in the model. “Restricted trend” means that the trend term is restricted to be equal across all variables in the model