Table 2 Augmented Dickey–Fuller test...

Table 2

Augmented Dickey–Fuller test

Series	Levels			First difference
Series	Intercept	Trend and intercept	None	Intercept	Trend and intercept	None
ln (M)	−1.340899	−3.087814	1.192696	−9.212733	−9.195900	−9.121987
ln(GDP)	−0.127110	−3.095650	2.847940	−15.39461	−15.37598	−14.92836
ln(PM)	−1.348340	−1.224444	−2.222534	−5.681698	−5.763045	−5.348924
ln(PD)	−2.964677	−2.929914	−1.896442	−12.01026	−11.99558	−12.03028

Series	Levels			First difference
Series	Intercept	Trend and intercept	None	Intercept	Trend and intercept	None
ln (M)	−1.340899	−3.087814	1.192696	−9.212733	−9.195900	−9.121987
ln(GDP)	−0.127110	−3.095650	2.847940	−15.39461	−15.37598	−14.92836
ln(PM)	−1.348340	−1.224444	−2.222534	−5.681698	−5.763045	−5.348924
ln(PD)	−2.964677	−2.929914	−1.896442	−12.01026	−11.99558	−12.03028

Note(s): The critical values of the Augmented Dickey–Fuller test for intercept, trend, and intercept and none at significance levels of 1, 5 and 10% are, respectively: −3.457984, −2.873596, −2.573270; −3.997418, −3.428981, −3.137946; −2.574797, −1.942176, −1.615803

Source(s): Own elaboration

[ViewLarge]

Sharing Unavailable