Variables | ADF test (statistics) | PP test (statistics) | Tr./Fd. | Unit root | ADF-GLS | |||
---|---|---|---|---|---|---|---|---|
Ï„-statistics | ADF-GLS critical value (5%) | |||||||
EGR | 2.734 | P = 0.433 | 5.673 | P = 0.761 | None | Yes | − 2.713 | − 2.996 |
EUA | − 1.122 | P = 0.391 | 0.015 | P = 0.153 | Tr. + Fd. | Yes | − 2.510 | − 2.744 |
EP | − 3.249 | P = 0.127 | 3.805 | P = 0.368 | Fd. | Yes | − 2.119 | − 2.913 |
HCIN | 5.347 | P = 0.849 | 2.654 | P = 0.294 | Fd. | Yes | − 2.885 | − 3.185 |
ΔEGR | − 2.950 | P = 0.035 | − 3.930 | P = 0.050 | None | No | − 2.947 | − 2.270 |
ΔEUA | − 2.509 | P = 0.005 | − 4.667 | P = 0.003 | Tr. + Fd. | No | − 3.125 | − 3.002 |
ΔEP | − 6.623 | P = 0.018 | − 6.043 | P = 0.005 | Fd | No | − 2.983 | − 2.316 |
ΔHCIN | − 5.665 | P = 0.036 | − 3.823 | P = 0.020 | Tr. + Fd. | No | − 2.722 | − 2.601 |