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Results for Pesaran, Shin, and Smith (2001) bounds F-test
| Model 1 | Model 2 | Model 3 | Model 4 | |||||
|---|---|---|---|---|---|---|---|---|
| Lower I(0) | Upper I(1) | Lower I(0) | Upper I(1) | Lower I(0) | Upper I(1) | Lower I(0) | Upper I(1) | |
| 1% level | 2.79 | 4.10 | 2.65 | 3.97 | 2.65 | 3.97 | 2.65 | 3.97 |
| 5% level | 2.22 | 3.39 | 2.14 | 3.30 | 2.14 | 3.30 | 2.14 | 3.30 |
| 10% level | 1.95 | 3.06 | 1.88 | 2.99 | 1.88 | 2.99 | 1.88 | 2.99 |
| F-Statistic | 4.427 | 4.254 | 3.996 | 4.828 | ||||
The null hypothesis is ‘no level relationship’; Critical values from Pesaran/Shin/Smith (2001) are presented
