Unit root tests for Ln(MPA-JP) and its first differential, 1°Diff[Ln(MPA-JP)].
| Test | Ln(MPA-JP) | 1°Diff[Ln(MPA-JP)] | ||||||
|---|---|---|---|---|---|---|---|---|
| 1% | 5% | 10% | t | 1% | 5% | 10% | t | |
| ADF | −4.04 | −3.45 | −3.15 | −3.41 | −4.04 | −3.45 | −3.15 | −8.08 |
| KPSS | 0.73 | 0.46 | 0.34 | 0.4 | 0.73 | 0.46 | 0.34 | 0.09 |
| Phillips-Perron | −4.09 | −3.47 | −3.16 | −6.29 | −4.09 | −3.47 | −3.16 | −13.98 |
t = student’s t-test