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Table 7 Rational expectations forwards looking fair model: GMM

From: Do carrier expectations indicate industry structure in container shipping? An econometric analysis

SeriesConstantTrade Volume 4-Quarter LeadTrade Volume 4-Quarter LagReal Price Bunker FuelShocksAdj R-SquaredF-Statistic
Full Sample N = 71
 All Trades5.101b (2.28)−0.016 (− 0.03)0.687a (1.61)0.106c (2.85)−0.084 (− 0.083)0.8957.6c
 ETP4.086 (1.52)1.283c (2.98)−0.467 (− 1.30)− 0.014 (− 0.23)0.218c (2.10)0.3510.0c
 WTA4.745 (1.24)0.128 (0.29)0.625b (2.19)0.126c (3.38)−0.031 (− 0.34)0.7223.7c
Pre-Block Exemption (WTA, N = 37)
 WTA15.361c (4.56)0.261 (0.59)−0.194 (− 0.35)0.237b (2.22)0.037 (0.62)0.598.58c
Post-Block Exemption (WTA, N = 25)
 WTA0.508 (0.04)0.053 (0.04)0.977b (1.93)0.067 (0.95)−0.289 (− 1.04)0.7918.8c
  1. aSignificant at the 10% level, bsignificant at the 5% level, csignificant at the 1% level