PP test results
| Variables | Level | First difference | Result | ||
|---|---|---|---|---|---|
| I | IT | I | IT | ||
| NIFTY | −0.902657 (0.7863) | −3.246798 (0.0779) | −12.21566 (0.0000) | −12.16338 (0.0000) | I(1) |
| Oil price | −2.010055 (0.2825) | −1.703892 (0.7468) | −9.567524 (0.0000) | −9.599316 (0.0000) | I(1) |
| CPI | 2.591976 (1.0000) | −1.947359 (0.6264) | −11.76449 (0.0000) | −12.03427 (0.0000) | I(1) |
| Variables | Level | First difference | Result | ||
|---|---|---|---|---|---|
| I | IT | I | IT | ||
| NIFTY | −0.902657 (0.7863) | −3.246798 (0.0779) | −12.21566 (0.0000) | −12.16338 (0.0000) | I(1) |
| Oil price | −2.010055 (0.2825) | −1.703892 (0.7468) | −9.567524 (0.0000) | −9.599316 (0.0000) | I(1) |
| CPI | 2.591976 (1.0000) | −1.947359 (0.6264) | −11.76449 (0.0000) | −12.03427 (0.0000) | I(1) |
Note(s): (b) MacKinnon (1996) one-sided p-values; I(1) = Stationary at order one; I = Intercept and IT = Intercept and Trend
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