Level

Difference

Variables

Types of tests

With constant

With constant and trend

Without trend and constant

With constant

With constant and trend

Without trend and constant

DS

ADF

−4.005***

(0.0001)

−4.371***

(0.0024)

−2.031**

−4.253***

(0.0000)

−4.225***

(0.0041)

−4.271***

PP

−2.0.60

(0.2611)

−2.267

(0.4523)

−1.203

−4.014***

(0.0013)

−3.988***

(0.0091)

−4.031***

KPSS

0.421***

0.0612***

0.0354***

0.0355***

PP

ADF

−2.071**

(0.0210)

−2.158

(0.5138)

−0.612

−3.219***

(0.0010)

−3.337*

(0.0603)

−3.215***

PP

−1.489

(0.5390)

−0.242

(0.9908)

−0.048

−3.164**

(0.221)

−3.260*

(0.0730)

−3.159***

KPSS

1.21

0.303

0.317***

0.104***

Int

ADF

−2.851***

(0.0028)

−3.458**

(0.0441)

−2.465**

−3.900***

(0.0001)

−4.075***

(0.0065)

−3.750***

PP

−1.978

(0.2962)

−1.646

(0.7737)

−2.415**

−3.729***

(37)

−3.846**

(0.0144)

−3.616***

KPSS

1.39

0.261

0.147***

0.0405***

Teer

ADF

−2.637***

(0.0051)

−2.719

(0.2284)

−0.109

−3.102***

(0.0014)

−3.084

(0.1102)

−3.138***

PP

−1.119

(0.6740)

−1.279

(0.8931)

−0.504

−3.040**

(0.0313)

−3.020

(0.1266)

−3.073***

KPSS

0.494

0.327

0.136***

0.14**