Null Hypothesis: Unit root (individual unit root process) | |||
Series: TNTM |
|
| |
Date: 03/28/16 Time: 09:31 |
| ||
Sample: 1 144 |
|
| |
Exogenous variables: Individual effects | |||
Newey-West automatic bandwidth selection and Bartlett kernel | |||
Total (balanced) observations: 142 | |||
Cross-sections included: 2 |
| ||
Method | Statistic | Prob.** | |
PP-Fisher Chi-square | 34.3596 | 0.0000 | |
PP-Choi Z-stat | −5.02884 | 0.0000 | |
**Probabilities for Fisher tests are computed using an | |||
asymptotic Chi-square distribution. All other tests | |||
assume asymptotic normality. | |||
Intermediate Phillips-Perron test results TNTM | |||
Cross |
|
|
|
section | Prob. | Bandwidth | Obs |
FFV | 0.0003 | 4.0 | 71 |
JLX | 0.0001 | 2.0 | 71 |