the null hypothesis is the existence of a unit root, i.e. the series (at the level or at the first
difference) is non-stationary. A low p-value indicates stationarity.
Table 1
Poland: summary results for unit root tests1
Variable ADF(k)2 P-Value S/N3 Phillips-Perron(b)4 P-Value S/N
log(e) |
-3.07(1) |
0.12 |
N |
-2.38(3) |
0.38 |
N |
∆log(e) |
-6.03(0) |
0.00 |
S |
-5.59(9) |
0.00 |
S |
log(TOT) |
-1.15(11) |
0.69 |
N |
-7.14(4) |
0.00 |
S |
∆log(TOT) |
-3.10(11) |
0.00 |
S |
-16.07(3) |
0.00 |
S |
FLOW |
-2.34(1) |
0.40 |
N |
-2.27(2) |
0.44 |
N |
∆FLOW |
- 7.30(0) |
0.00 |
S |
-7.30(3) |
0.00 |
S |
log(OPEN) |
-5.92(0) |
0.00 |
S |
-5.92(0) |
0.00 |
S |
∆log(OPEN) |
-2.37(11) |
0.01 |
S |
-17.05(32) |
0.00 |
S |
log(GOV) |
-1.93(9) |
0.63 |
N |
-4.22(5) |
0.00 |
S |
∆log(GOV) |
-14.85(8) |
0.00 |
S |
-12.53(3) |
0.00 |
S |
log(NEER) |
-2.06(2) |
0.26 |
N |
-2.08(5) |
0.25 |
N |
∆log(NEER) |
-6.80(1) |
0.00 |
S |
-5.70(16) |
0.00 |
S |
log(DCRE) |
-2.02(0) |
0.58 |
N |
-1.98(2) |
0.60 |
N |
∆log(DCRE) |
-10.00(0) |
0.00 |
S |
-10.00(0) |
0.00 |
S |
1 Test equations were chosen with or without intercept and/or trend terms depending on the
P-value of the t-statistics in the test equation.
2 k is the optimal lag length indicated by the Schwartz Information criterion from a maximum
length of 12.
3 S is ‘stationary’ and N is ‘non-stationary’, as indicated by the corresponding test statistic at
5% level of significance.
4 b is the bandwidth chosen by the Newey-West bandwidth criterion.
18
More intriguing information
1. 5th and 8th grade pupils’ and teachers’ perceptions of the relationships between teaching methods, classroom ethos, and positive affective attitudes towards learning mathematics in Japan2. Nietzsche, immortality, singularity and eternal recurrence1
3. The name is absent
4. Review of “The Hesitant Hand: Taming Self-Interest in the History of Economic Ideas”
5. The name is absent
6. Inhimillinen pääoma ja palkat Suomessa: Paluu perusmalliin
7. The name is absent
8. A Hybrid Neural Network and Virtual Reality System for Spatial Language Processing
9. sycnoιogιcaι spaces
10. The Functions of Postpartum Depression