Variables

ADF TEST

PHILLIPS - PERRON TEST

Levels

First Difference

Levels

First Difference

Order of Integration

CPS

−1.89470

−5.43148*

−1.68413

−5.27189*

1(1)

DEPOSIT

−2.07290

−4.25923*

−1.74397

−4.12376*

1(1)

LENDRATE

1.23284

−4.86361*

1.84019

−5.52934*

1(1)

GDP

−1.86995

−4.06844*

−1.52553

−5.40077*

1(1)

MKTCAP

−1.86705

−4.19956*

−1.92287

−5.69989*

1(1)

MONIMKT

−2.91013***

−4.17181*

−1.81410

−6.49116*

1(1)

NONOILEXP

−2.68990

−4.96928*

−3.86627***

−9.37226*

1(1)