Results of the Phillips-Perron (PP) test
| Phillips–Perron test (PP(intercept)/Lag: Short/N) | Phillips–Perron test (PP(intercept)/Lag: Short/N(r = 1)) | Phillips–Perron test (PP(intercept + trend)/Lag: Short/N-0.1*t) | |
|---|---|---|---|
| Tau (Observed value) | −10.836 | −1.690 | −10.779 |
| Tau (Critical value) | −2.891 | −2.891 | −3.456 |
| p-value (one-tailed) | < 0.0001 | 0.433 | < 0.0001 |
| Alpha | 0.05 | 0.05 | 0.05 |
| Test interpretation | |||
| H0: There is a unit root for the series | |||
| Ha: There is no unit root for the series. The series is stationary | |||
| Phillips–Perron test (PP(intercept)/Lag: Short/ | Phillips–Perron test (PP(intercept)/Lag: Short/ | Phillips–Perron test (PP(intercept + trend)/Lag: Short/ | |
|---|---|---|---|
| Tau (Observed value) | −10.836 | −1.690 | −10.779 |
| Tau (Critical value) | −2.891 | −2.891 | −3.456 |
| 0.433 | |||
| Alpha | 0.05 | 0.05 | 0.05 |
| Test interpretation | |||
| Ha: There is no unit root for the series. The series is stationary | |||
Source(s): Table by author
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