|
|
| Linear test |
| Nonlinear test |
| Lags | ADF t-Stat | PP Adj. t-Stat | KPSS Adj. t-Stat | KSS t-Stat |
| 5 | −7.7278*** | −13.5935*** | 0.0308 | −3.3413*** |
| 10 | −4.9719*** | −13.5009*** | 0.0412 | 0.4726 |
| 20 | −4.6071*** | −13.9192*** | 0.0670 | 1.5211 |