Series

ADF

PP

Order

Level

1^st Difference

Level

1^st Difference

lnUN

[−3.8899]

-

[1.1147]

[−3.4960]

I(1)

(−3.1686)

-

(−1.6139)

(−1.6149)

lnPROD

[−0.5049]

[−9.6764]

[−2.3498]

[−9.6900]

I(1)

(−1.6139)

(−1.6139)

(−3.1624)

(−1.6139)

INF

[−3.4872]

-

[−3.5433]

-

I(0)

(−2.5786)

-

(−2.5786)

-

RATE

[−2.7472]

-

[−0.6880]

[−3.3025]

I(1)

(−2.5889)

-

(−1.6139)

(−1.6139)

lnEXCH

[1.1540]

[−5.2833]

[1.6275]

[−5.1152]

I(1)

(−1.6139)

(−1.6139)

−(1.6139)

(−1.6139)

lnINV

[−7.5418]

-

[−7.5309]

-

I(0)

(−2.5882)

-

(−2.5882)

-

lnEXP

[−5.3670]

-

[−6.5840]

-

I(0)

(−3.1639)

-

(−3.1624)

-