| |
|
ADF |
|
|
|
ADF |
|
|
PKWHIM |
level |
-0.29 |
-2.39 |
PKRIRT |
level |
-0.17 |
-1.63 |
| |
first differences |
-1.26 |
-5.15 |
|
first differences |
-1.07 |
-4.73 |
|
PKWHPR |
level |
-0.54 |
-3.21 |
PKMZPF |
level |
-0.21 |
-1.64 |
| |
first differences |
-1.45 |
-5.99 |
|
first differences |
-1.71 |
-5.48 |
|
PKWHPF |
level |
-0.45 |
-2.82 |
PKMZWS |
level |
-0.64 |
-2.92 |
| |
first differences |
-1.14 |
-4.14 |
|
first differences |
-1.86 |
-7.42 |
|
PKWHWS |
level |
-0.65 |
-3.53 |
PKSHPF |
level |
-1.24 |
-3.99 |
| |
first differences |
-1.73 |
-7.35 |
|
first differences |
|
|
|
PKWHRT |
level |
-0.50 |
-2.67 |
PKSHWS |
level |
-0.63 |
-3.18 |
| |
first differences |
-1.55 |
-5.58 |
|
first differences |
-1.63 |
-6.28 |
|
PKRIIM |
level |
-0.28 |
-1.84 |
PKBMIM |
level |
-0.67 |
-3.49 |
| |
first differences |
-1.46 |
-5.21 |
|
first differences |
|
|
|
PKRIEX |
level |
-0.42 |
-2.58 |
PKBMPF |
level |
-0.13 |
-1.17 |
| |
first differences |
-1.89 |
-7.34 |
|
first differences |
-1.11 |
-3.78 |
|
PKRIPR |
level |
-0.45 |
-2.69 |
PKBMWS |
level |
-0.34 |
-2.52 |
| |
first differences |
-1.57 |
-6.25 |
|
first differences |
-1.03 |
-7.62 |
|
PKRI1PR |
level |
-0.48 |
-2.45 |
PKBMRT |
level |
-0.32 |
-1.92 |
| |
first differences |
-1.24 |
-6.10 |
|
first differences |
-1.42 |
-5.78 |
|
PKRIPF |
level |
-0.28 |
-1.66 |
PKPMPF |
level |
-0.15 |
-1.32 |
| |
first differences |
-1.52 |
-4.96 |
|
first differences |
-1.18 |
-4.19 |
|
PKRIWS |
level |
-0.37 |
-2.22 |
PKPLPF |
level |
-0.11 |
-0.99 |
| |
first differences |
-1.46 |
-5.01 |
|
first differences |
-0.98 |
-3.31 |
|
PKRI1WS |
level |
-0.33 |
-2.06 |
PKPLRT |
level |
-0.01 |
-0.04 |
| |
first differences |
-1.38 |
-5.24 |
|
first differences |
-1.41 |
-4.32 |
see Table 1 for variables' names
Bold = significantly different from zero at 5% or less
source: own calculation on ESCB price data
