Variables

Level

First difference

Integration order (unit root)

ADF

PP

ADF

Z(t) (pval)

PP

lenc

1.12 (0.99)

−1.65 (0.76)

−3.4 (0.01)

−5.33 (0.00)

I~(1)

lpib

0.23 (0.93)

0.33 (0.97)

−5.50 (0.00)

−5.43 (0.00)

I~(1)

lpop

−2.95 (0.14)

−6.79 (0.00)

−2.84 (0.050)

−3.584 (0.03)

I~(1)