Variables in Levels

$\ln y_t$

$\ln k_t$

$\ln h_t$

Sample Period

1950-2019

1950-2019

1950-2019

Specification

constant and trend

constant and trend

constant and trend

Leg length

1

2

1

ADF t-statistic

−1.3525

0.3731

−0.9789

5% critical value

−3.4773

−3.4783

−3.4773

Variables in First Differences

$\Delta \ln y_t$

$\Delta \ln k_t$

$\Delta \ln h_t$

Sample Period

1951-2019

1951-2019

1951-2019

Specification

constant

constant and trend

constant

Leg length

0

1

0

ADF t-statistic

−7.4104

−3.7476

−5.3323

5% critical value

−2.9048

−3.4783

−2.9048