Table 1 Unit root test and structural... | Emerald Publishing

Table 1

Unit root test and structural breaks

Variables	Level			First difference
Variables	Year of break	t-stat	t-calc	Year of break	t-stat	t-calc
NIFTY	2010M12	−5.7191	−4.9328	2009M05	−5.7191	−14.4890*
WACR	2010M02	−5.7191	−4.4662	2009M01	−5.7191	−11.7517*
WPI	2014M08	−5.7191	−2.9674	2020M05	−5.7191	−7.9124*
M3	2013M02	−5.7191	−4.3595	2009M04	−5.7191	−14.5321*
EXE	2011M07	−5.7191	−5.2518**	–	–	–

Variables	Level			First difference
Variables	Year of break	t-stat	t-calc	Year of break	t-stat	t-calc
NIFTY	2010M12	−5.7191	−4.9328	2009M05	−5.7191	−14.4890*
WACR	2010M02	−5.7191	−4.4662	2009M01	−5.7191	−11.7517*
WPI	2014M08	−5.7191	−2.9674	2020M05	−5.7191	−7.9124*
M3	2013M02	−5.7191	−4.3595	2009M04	−5.7191	−14.5321*
EXE	2011M07	−5.7191	−5.2518**	–	–	–

Source(s): Authors