PROC TSCSREG incorrectly scales the estimated phi matrix by dividing by T when it should instead divide by (T - p), where T is the length of the time series and p is the number of regressors including the intercept, when the PARKS option is specified on the MODEL statement. As a consequence of this incorrectly scaled phi matrix, the parameter estimates and standard errors are incorrect. This problem is of small consequence when T is large relative to p.

There is no circumvention to this problem.