Phillips Perron Unit Root Test

At Level

Variable

Intercept

Prob

Intercept & Trend

Prob

RGDP

0.275361

0.9738

−1.81630

0.6770

TFD

−1.180855

0.6727

−0.945547

0.9398

TO

−2.733641

0.0778

−2.591570

0.2860

FD

−1.483805

0.5309

−2.103307

0.5275

IR

−1.966246

0.2999

−1.877135

0.6466

INF

−4.429168

0.0011*

−4.356661

0.0071*

EX

2.027548

0.9998

0.225796

0.9974

At 1st Difference

RGDP

−3.167185

0.0302*

−3.183093

0.1034

TFD

−4.078261

0.0030*

−4.114356

0.0132*

TO

−4.687190

0.0006*

−4.802858

0.0023*

FD

−4.818313

0.0004*

−4.758557

0.0025*

IR

−6.598021

0.0000*

−6.493151

0.0000*

INF

−11.63220

0.0000*

−11.46865

0.0000*

EX

−4.684563

0.0006*

−5.089357

0.0011*