Table 2 Zivot-Andrews test Variable Test...

Table 2

Zivot-Andrews test

Variable	Test type	Test statistics
Aggregate unemployment insurance spending	Breaks in intercept	−4.31
	Breaks in trend	−4.03
	Breaks in intercept and trend	−4.57
Labor force participation rate	Breaks in intercept	−2.01
	Breaks in trend	−3.98
	Breaks in intercept and trend	−3.67
Labor force participation rate: male	Breaks in intercept	−4.65
	Breaks in trend	−3.43
	Breaks in intercept and trend	−4.07
Labor force participation rate: female	Breaks in intercept	−2.38
	Breaks in trend	−4.16
	Breaks in intercept and trend	−3.67

Variable	Test type	Test statistics
Aggregate unemployment insurance spending	Breaks in intercept	−4.31
	Breaks in trend	−4.03
	Breaks in intercept and trend	−4.57
Labor force participation rate	Breaks in intercept	−2.01
	Breaks in trend	−3.98
	Breaks in intercept and trend	−3.67
Labor force participation rate: male	Breaks in intercept	−4.65
	Breaks in trend	−3.43
	Breaks in intercept and trend	−4.07
Labor force participation rate: female	Breaks in intercept	−2.38
	Breaks in trend	−4.16
	Breaks in intercept and trend	−3.67

Note(s): (1) Critical values for breaks in intercept are −5.34 at 1%, −4.80 at 5%, (2) critical values for breaks in trend are −4.93 at 1%, −4.42 at 5%, (3) critical values for breaks in intercept and trend are −7.19 at 1%, −6.75 at 5% and −6.48 at 10%

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