Table 5 Phillips and Ouliaris test Test...

Table 5

Phillips and Ouliaris test

Test type	Aggregate unemployment insurance spending and labor force participation rate	Aggregate unemployment insurance spending and labor force participation rate for male	Aggregate unemployment insurance spending and labor force participation rate for female
$P_{U} T e s t$	1.34	0.90	0.31
$P_{Z} T e s t$	27.29	17.82	27.89

Test type	Aggregate unemployment insurance spending and labor force participation rate	Aggregate unemployment insurance spending and labor force participation rate for male	Aggregate unemployment insurance spending and labor force participation rate for female
$P_{U} T e s t$	1.34	0.90	0.31
$P_{Z} T e s t$	27.29	17.82	27.89

Note(s): (1) Critical values for the $P_{U} T e s t$ are 27.85 for 10%, 33.71 for 5% and 48.00 for 1%, (2) Critical values for the $P_{Z} T e s t$ are 47.58 for 10%, 55.22 for 5% and 71.92 for 1%

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