Ho: No level relationship

Estimated F and t statistics

Kripfganz & Schneider (2018 ) critical values at 5% level for

I (0) Variables

Kripfganz & Schneider (2018) critical values at 5% level for

I (1) Variables

Approximate p-value for

I (0) Variables

Approximate p-value for

I (1) Variables

F = 23.639

2.533

4.106

0.000

0.000

t = −1.988

−2.814

−4.661

0.210

0.741