Variable Level

First difference

ADF

PP

ADF

PP

GDP

−1.23

−1.25

−4.56*

−4.59*

CPI

−0.87

−0.91

−3.78*

−3.81*

M2

−2.12

−2.15

−5.32*

−5.36*

INT

−2.45

−2.49

−6.21*

−6.25*