VARIABLE | AUGMENTED DICKEY-FULLER | ZIVOT-ANDREW | |||
LEVELS | 1ST DIFF. | LEVELS | 1ST DIFF. | STRUCTURAL BREAK | |
ROA | −8.791*** |
| −12.17*** |
| 2012Q3 |
ROE | −6.296*** |
| −7.38*** |
| 2018Q2 |
TA | −8.23*** |
| −8.49*** |
|
|
GBY | −1.479 | −5.135*** | −3.05 | −5.17*** | 2010Q1 |
RGDP | −9.978*** |
| −7.673*** |
| 2018Q2 |
IR | −0.686 | −4.323*** | −3.457 | −4.404* | 2010Q1 |
JSEM | −6.873*** |
| −7.871*** |
| 2015Q4 |
UR | −4.144*** |
| −4.45** |
| 2011Q3 |