Null Hypothesis: D(L_MOBVREV) has a unit root

Exogenous: Constant

Bandwidth: 2 (Newey-West automatic) using Bartlett kernel

Adj. t-Stat

Prob.*

Phillips-Perron test statistic

−13.87363

0.0001

Test critical values:

1% level

−3.503879

5% level

−2.893589

10% level

−2.583931

*MacKinnon (1996) one-sided p-values.

Residual variance (no correction)

0.007333

HAC corrected variance (Bartlett kernel)

0.006691

Phillips-Perron Test Equation

Dependent Variable: D(L_MOBVREV,2)

Method: Least Squares

Date: 12/29/19 Time: 10:50

Sample (adjusted): 2012M03 2019M09

Included observations: 91 after adjustments

Variable

Coefficient

Std. Error

t-Statistic

Prob.

D(L_MOBVREV(−1))

−1.353954

0.099238

−13.64352

0.0000

C

0.031110

0.009355

3.325447

0.0013

R-squared

0.676535

Mean dependent var

0.000215

Adjusted R-squared

0.672901

S. D. dependent var

0.151396

S. E. of regression

0.086587

Akaike info criterion

−2.033595

Sum squared resid

0.667265

Schwarz criterion

−1.978411

Log likelihood

94.52856

Hannan-Quinn criter.

−2.011331

F-statistic

186.1457

Durbin-Watson stat

2.031075

Prob (F-statistic)

0.000000