MODEL CET

MODEL CER

Statistic

p-value

Statistic

p-value

Modified variance ratio

−2.8489

0.0022

−2.7203

0.0033

Modified Phillips-Perron t

2.5853

0.0049

0.9493

0.1712

Phillips-Perron t

2.7982

0.0026

−0.9735

0.1652

Augmented Dickey-Fuller t

2.5594

0.0052

−0.0888

0.4646

Modified Phillips-Perron t

2.9852

0.0014

1.5704

0.0582

Phillips-Perron t

2.5701

0.0051

−0.6691

0.2517

Augmented Dickey-Fuller t

2.3413

0.0096

0.2049

0.4188