Unit root test
| Variable | ADF test results | PP test results | |
|---|---|---|---|
| Lag length | t-statistics | t-staistics | |
| IR | 0 | −2.513 | −2.496 |
| AQI | 0 | −2.168 | −2.168 |
| PI | 0 | −2.615 | −1.958 |
| IF | 0 | −1.511 | −1.533 |
| XF | 0 | −2.418 | −2.410 |
| First (log) differences | |||
| ΔIR | 0 | −9.232 | −8.987 |
| ΔAQI | 0 | −5.525 | −5.659 |
| ΔPI | 0 | −5.230 | −5.384 |
| ΔIF | 0 | −6.640 | −6.565 |
| ΔXF | 0 | −5.499 | −5.499 |
| Critical values for test statistics | |||
| 1% | −3.663 | −3.663 | |
| 5% | −2.960 | −2.960 | |
| 10% | −2.619 | −2.619 | |
| Variable | ADF test results | PP test results | |
|---|---|---|---|
| Lag length | |||
| IR | 0 | −2.513 | −2.496 |
| AQI | 0 | −2.168 | −2.168 |
| PI | 0 | −2.615 | −1.958 |
| IF | 0 | −1.511 | −1.533 |
| XF | 0 | −2.418 | −2.410 |
| ΔIR | 0 | −9.232 | −8.987 |
| ΔAQI | 0 | −5.525 | −5.659 |
| ΔPI | 0 | −5.230 | −5.384 |
| ΔIF | 0 | −6.640 | −6.565 |
| ΔXF | 0 | −5.499 | −5.499 |
| 1% | −3.663 | −3.663 | |
| 5% | −2.960 | −2.960 | |
| 10% | −2.619 | −2.619 | |
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