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Panel unit root test: Summary
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Series: D(LBC)
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Date: 12/10/11 Time: 10:20
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Sample: 1984 2010
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Exogenous variables: Individual effects, individual linear
trends
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User-specified lags: 1
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Newey-West automatic bandwidth selection and Bartlett
kernel
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Balanced observations for each test
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Cross-
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Method
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Statistic
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Prob.**
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sections
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Obs
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Null: Unit root (assumes common unit root process)
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Levin, Lin & Chu t*
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-6.17890
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0.0000
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7
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168
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Breitung t-stat
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-3.82736
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0.0001
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7
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161
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Null: Unit root (assumes individual unit root
process)
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Im, Pesaran and Shin W-stat
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-7.10548
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0.0000
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7
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168
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ADF - Fisher Chi-square
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70.6214
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0.0000
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7
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168
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PP - Fisher Chi-square
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432.809
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0.0000
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7
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175
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** Probabilities for Fisher tests are computed using an
asymptotic Chi
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-square
distribution. All other tests assume asymptotic normality.
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Panel unit root test: Summary
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Series: D(LGOUV)
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Date: 12/10/11 Time: 10:12
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Sample: 1984 2010
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Exogenous variables: None
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User-specified lags: 1
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|
|
|
Newey-West automatic bandwidth selection and Bartlett
kernel
|
|
Balanced observations for each test
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cross-
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|
|
Method
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Statistic
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Prob.**
|
Sections
|
Obs
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|
Null: Unit root (assumes common unit root process)
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|
Levin, Lin & Chu t*
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-11.2131
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0.0000
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7
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168
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Null: Unit root (assumes individual unit root
process)
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ADF - Fisher Chi-square
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124.757
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0.0000
|
7
|
168
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PP - Fisher Chi-square
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264.459
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0.0000
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7
|
175
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|
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** Probabilities for Fisher tests are computed using an
asymptotic Chi
|
|
-square
distribution. All other tests assume asymptotic normality.
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Panel unit root test: Summary
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Series: D(LINV)
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Date: 12/10/11 Time: 10:05
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Sample: 1984 2010
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Exogenous variables: None
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User-specified lags: 1
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|
|
|
Newey-West automatic bandwidth selection and Bartlett
kernel
|
|
Balanced observations for each test
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|
|
|
|
|
|
|
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|
|
|
|
|
Cross-
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|
Method
|
Statistic
|
Prob.**
|
sections
|
Obs
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|
Null: Unit root (assumes common unit root process)
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|
Levin, Lin & Chu t*
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-11.0383
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0.0000
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7
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168
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|
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Null: Unit root (assumes individual unit root
process)
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|
ADF - Fisher Chi-square
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121.700
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0.0000
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7
|
168
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PP - Fisher Chi-square
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276.858
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0.0000
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7
|
175
|
|
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|
|
|
|
|
|
|
|
|
** Probabilities for Fisher tests are computed using an
asymptotic Chi
|
|
-square
distribution. All other tests assume asymptotic normality.
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Panel unit root test: Summary
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Series: D(LOUV)
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Date: 12/10/11 Time: 09:57
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Sample: 1984 2010
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Exogenous variables: Individual effects, individual linear
trends
|
|
User-specified lags: 1
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|
|
|
Newey-West automatic bandwidth selection and Bartlett
kernel
|
|
Balanced observations for each test
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cross-
|
|
|
Method
|
Statistic
|
Prob.**
|
sections
|
Obs
|
|
Null: Unit root (assumes common unit root process)
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|
Levin, Lin & Chu t*
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-6.78052
|
0.0000
|
7
|
168
|
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Breitung t-stat
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-4.48796
|
0.0000
|
7
|
161
|
|
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|
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Null: Unit root (assumes individual unit root
process)
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|
Im, Pesaran and Shin W-stat
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-6.60651
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0.0000
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7
|
168
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ADF - Fisher Chi-square
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65.1881
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0.0000
|
7
|
168
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PP - Fisher Chi-square
|
225.300
|
0.0000
|
7
|
175
|
|
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|
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|
|
|
|
|
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** Probabilities for Fisher tests are computed using an
asymptotic Chi
|
|
-square
distribution. All other tests assume asymptotic normality.
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Panel unit root test: Summary
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Series: LPROD
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Date: 12/10/11 Time: 09:45
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Sample: 1984 2010
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Exogenous variables: Individual effects, individual linear
trends
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|
User-specified lags: 1
|
|
|
|
Newey-West automatic bandwidth selection and Bartlett
kernel
|
|
Balanced observations for each test
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cross-
|
|
|
Method
|
Statistic
|
Prob.**
|
sections
|
Obs
|
|
Null: Unit root (assumes common unit root process)
|
|
Levin, Lin & Chu t*
|
-4.64167
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0.0000
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7
|
175
|
|
Breitung t-stat
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-7.62524
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0.0000
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7
|
168
|
|
|
|
|
|
|
Null: Unit root (assumes individual unit root
process)
|
|
Im, Pesaran and Shin W-stat
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-3.46625
|
0.0003
|
7
|
175
|
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ADF - Fisher Chi-square
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34.9128
|
0.0015
|
7
|
175
|
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PP - Fisher Chi-square
|
63.8712
|
0.0000
|
7
|
182
|
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|
|
|
|
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|
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|
** Probabilities for Fisher tests are computed using an
asymptotic Chi
|
|
-square
distribution. All other tests assume asymptotic normality.
|
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Panel unit root test: Summary
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Series: D(LTCRE)
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Date: 12/10/11 Time: 09:34
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Sample: 1984 2010
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Exogenous variables: None
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|
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User-specified lags: 1
|
|
|
|
Newey-West automatic bandwidth selection and Bartlett
kernel
|
|
Balanced observations for each test
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
Method
|
Statistic
|
Prob.**
|
sections
|
Obs
|
|
Null: Unit root (assumes common unit root process)
|
|
Levin, Lin & Chu t*
|
-9.09716
|
0.0000
|
7
|
168
|
|
|
|
|
|
|
Null: Unit root (assumes individual unit root
process)
|
|
ADF - Fisher Chi-square
|
102.907
|
0.0000
|
7
|
168
|
|
PP - Fisher Chi-square
|
166.956
|
0.0000
|
7
|
175
|
|
|
|
|
|
|
|
|
|
|
|
** Probabilities for Fisher tests are computed using an
asymptotic Chi
|
|
-square
distribution. All other tests assume asymptotic normality.
Panel unit root test: Summary Series: D(LTCRE)Date:
12/10/11 Time: 11:44Sample: 1984 2010Exogenous variables: Individual effects,
individual linear trendsUser-specified lags: 1Newey-West automatic bandwidth
selection and Bartlett kernelBalanced observations for each
test Cross-MethodStatisticProb.**sectionsObsNull: Unit root (assumes
common unit root process) Levin, Lin & Chu
t*-4.01081 0.0000 6 144Breitung
t-stat-4.57734 0.0000 6 138Null: Unit root (assumes individual
unit root process) Im, Pesaran and Shin
W-stat -4.93073 0.0000 6 144ADF - Fisher
Chi-square 45.3630 0.0000 6 144PP - Fisher
Chi-square 103.060 0.0000 6 150** Probabilities for Fisher
tests are computed using an asymptotic
Chi -square distribution. All
other tests assume asymptotic normality.
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