Tables 1 to 4 summarize the results for the first model (a) to show, respectively, the average number of selected components chosen using GCCV criterion, the mean square error (MSE) for estimation of β, the MSE for estimation of ϕ and the mean square prediction errors (MSPE) for horizons 1, 5 and 10. In these results, LM denotes the estimation through a classical functional linear model whereas GLS and iGLS corresponds, respectively, to the functional GLS and functional iGLS methods (shown in Methodology section for AR(1) dependent errors).