Johansen Cointegartion Test

[jiya]

Hi,....i am working with causality among three variables (Say, X, Y, and Z) all of which are I(1). To check if they are co-integrated, I have conducted Johansen Cointegartion Test (results are attached here with), which indicates 2 co-integrating equations at the 1% level. Does this mean that in the VECM, two error correction terms {ECT-1, ECT-2} should be included in each of the three equations ? Also, how should I interpret alpha and beta coefficients (adjustment coefficient and cointegrating coefficient) of the Johansen Test.??
Any kind of help will be appreciated.

J C TEST.pdf

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