VARIABLES | LEVEL | FIRST DIFFERENCE | ORDER IN INTEGRATION | ||
ADF Value | Mackinnon Critical Values | ADF Value | Mackinnon Critical Values | ||
ASI2GDP | −2.781484 | −3.587527 | −5.905998 | −3.595026** | 1(1) |
PENFUND | −1.495562 | −3.595026 | −3.576188 | −3.658446** | 1(1) |
PENINVEST | −3.117782 | −3.622033 | −4.259252 | −3.603202** | 1(1) |
INFLAT | −3.329771 | −3.587527** | −4.512223 | −3.612199 | 1(0) |