| Variable | ADF | PP | ||
| No Trend | Trend | No Trend | Trend | |
| ECOt | 0.5399 | −1.664 | 0.426 | −1.748 |
| D. ECOt | −5.358*** | −5.449*** | −5.356*** | −5.439*** |
| Kt | −0.502 | −2.943 | −0.373 | −3.021 |
| D. Kt | −7.094*** | −6.997*** | −7.205*** | −7.098*** |
| Lt | −0.596 | −6.828*** | −1.332 | −5.073*** |
| D. Lt | −6.155*** | −5.161*** | −4.913*** | −4.295*** |
| πt | −4.694*** | −6.622*** | −4.738*** | −6.614*** |
| D. πt | −14.520*** | −14.530*** | −17.204*** | −18.152*** |
| Et | −3.620*** | −1.855 | −3.690*** | −1.858 |
| D. Et | −3.636*** | −4.573*** | −3.675*** | −4.525*** |
| AVAt | −1.036 | −3.757*** | −0.874 | −3.596** |
| D. AVAt | −6.051*** | −5.960*** | −6.516*** | −6.372*** |
| INDt | −1.174 | −2.054 | −1.274 | −2.327 |
| D. INDt | −4.746*** | −4.686*** | −4.654*** | −4.580*** |
| SERVt | −1.543 | −2.130 | −1.614 | −2.220 |
| D. SERVt | −6.111*** | −6.061*** | −6.114*** | −6.063*** |