표 4 기간별 Granger 인과관계 검정 결과

구분	2008년∼2023년
	Lag 1	Lag 2	Lag 3	Lag 4	Lag 5	Lag 6
	F-stat	F-stat	F-stat	F-stat	F-stat	F-stat
	Prob.	Prob.	Prob.	Prob.	Prob.	Prob.
Unsold⇏CPI	0.1220	2.0401	1.2975	1.4975	1.0168	0.9108
	0.7273	0.1330	0.2768	0.2049	0.4093	0.4885
CPI⇏Unsold	0.7757	0.1656	0.1245	0.2792	1.2090	1.0564
	0.3796	0.8475	0.9455	0.8912	0.3068	0.3909
Unsold⇏ER	0.0110	0.1955	0.5781	1.0300	0.7001	0.8443
	0.9165	0.8226	0.6301	0.3932	0.6241	0.5374
ER⇏Unsold	3.8255	0.8292	0.9952	1.5660	1.4711	1.1011
	0.0520	0.4380	0.3964	0.1854	0.2016	0.3637
Unsold⇏Interest	17.2205	1.5380	1.6774	1.2023	1.0832	0.9942
	5.E-05	0.2176	0.1735	0.3115	0.3714	0.4309
Interest⇏Unsold	19.249	5.6272	4.1767	3.5761	2.8070	2.5242
	2.E-05	0.0042	0.0069	0.0199	0.0182	0.0229
Unsold⇏Jeonse	172.0520	8.9565	7.6128	5.6342	5.5477	4.5850
	3.E-28	0.0002	8.E-05	0.0003	9.E-05	0.0002
Jeonse⇏Unsole	2.8266	2.0802	2.9361	2.1699	1.7692	1.1602
	0.0944	0.1278	0.0347	0.0742	0.1215	0.3300
Unsold⇏LP	5.3637	2.9120	3.0424	3.2233	3.0824	3.2088
	0.0216	0.0569	0.0303	0.0139	0.0108	0.0052
LP⇏Unsold	6.7253	1.3725	0.9789	0.5490	0.5007	0.4865
	0.0103	0.2561	0.4039	0.7000	0.7754	0.8178
Unsold⇏M2	14.3499	4.3364	2.9745	2.5360	3.9455	3.7040
	0.0002	0.0144	0.0330	0.0418	0.0020	0.0017
M2⇏Unsold	0.6763	0.1985	0.1883	0.0768	0.4350	0.6720
	0.4119	0.8201	0.9042	0.9893	0.8237	0.6724
Unsold⇏Sales	162.7040	11.8820	8.9515	7.1158	6.3632	5.3923
	3.E-27	1.E-05	1.E-05	2.E-05	2.E-05	4.E-05
Sales⇏Unsold	7.9112	0.6651	3.3225	2.6632	2.3386	1.8682
	0.0054	0.5155	0.0210	0.0341	0.0437	0.0889

CPI, consumer price index; ER, exchange rate; LP, license performance.