Problem regarding co-integrating Equation of VECM

[shilpa gupta]

I have run VECM model in Stata to estimate the long run and short run relationship among variables. 11 variables and quarterly data from 2001 to 2020 have been used for the study. All the variables are non-stationary at l(0) but stationary at I(1). Lag selection criteria such as SBIC and HQIC has shown Lag 1 and vecrank (Trace and maxi-eigenvalue) command has suggested 4 cointegration equation.

I want to know that can i run vec command with 1 cointegrating equation instead of 4 cointegrating equation ?

[Sebastian Kripfganz]

If you found that there are 4 cointegrating relationships, why do you want to impose that there is only 1?

[shilpa gupta]

Hi Sebastian

Could you please suggest me some readings on how to interpret the VECM result when there is more than 1 cointegrating equation.