Variables

Value of ADF test

Form of test (c, t, k)

Critical value

Conclusion

RE

−3.05239

(c, 0, 1)

−2.926622

Stationary

ES

−3.28066

(c, 0, 0)

−2.925169

Stationary

GDPG

−4.41518

(c, 0, 0)

−2.925169

Stationary

FTG

−3.49674

(0, 0, 4)

−1.948686

Stationary

FAG

−5.35903

(c, t, 0)

−3.508508

Stationary