Table 2 Bai-Perron multiple breakpoint... | Emerald Publishing

Table 2

Bai-Perron multiple breakpoint tests of L+1 versus L sequentially determined structural breaks

Variable	0 vs. 1	1 vs. 2	2 vs. 3	3 vs. 4	4 vs. 5	Number of breaks	Dates of breaks
GDP	192.56^**	54.72^**	65.94^**	23.31^**	0.00	4	1976; 1985; 1995; 2007
M	288.26^**	70.65^**	48.76^**	16.99^**	10.28	4	1972; 1981; 1990; 2003
G	126.30^**	101.62^**	25.53^**	23.34^**	0.00	4	1969; 1981; 1997; 2006
REER	57.87^**	4.56				1	1991
Oil price	161.44^**	52.49^**	6.79			2	1974; 2003

Variable	0 vs. 1	1 vs. 2	2 vs. 3	3 vs. 4	4 vs. 5	Number of breaks	Dates of breaks
GDP	192.56^**	54.72^**	65.94^**	23.31^**	0.00	4	1976; 1985; 1995; 2007
M	288.26^**	70.65^**	48.76^**	16.99^**	10.28	4	1972; 1981; 1990; 2003
G	126.30^**	101.62^**	25.53^**	23.34^**	0.00	4	1969; 1981; 1997; 2006
REER	57.87^**	4.56				1	1991
Oil price	161.44^**	52.49^**	6.79			2	1974; 2003