I am currently conducting a multivariate time series analysis on Eviews. I am investigating the causal relation among various economic variables. I have estimated a VAR model using the Toda-Yamamoto Procedure, following the protocol described by Dr Giles in his blog, Econometrics Beat. I need help with some of the interpretation of my results. I know how to interpret the p-value results in terms of the null hypothesis. However, I wanted to know what is the direction of the causality (unidirectional or bidirectional). Or to get directional information of the relations among variables I have to look somewhere else other than he Granger Causality results? Here are the results: [![Granger/Wald Test]]
The variables are log transformed and they are:
- ln_gdp54: gross domestic product
- ln_gdfi54: gross domestic fixed investment
- ln_lf: labor force
- ln_mmtoe: energy consumption (million oil tons equivalent)
- ln_totco2: total CO2 emissions
Thank for the help!