Table 3.
Unit root test of Perron (11).
| Break on the Level | Test Statistic and Lag | Break | Conclusion |
|---|---|---|---|
| Health Index_UK | −5.294*** (2) | April 2, 2020 | I(0) |
| Health Index_USA | −5.975*** (0) | April 4, 2020 | I(0) |
| Break on the Trend | Test Statistic and Lag | Break | Conclusion |
| Health Index_UK | −4.851*** (2) | April 2, 2020 | I(0) |
| Health Index_USA | −6.324*** (0) | April 1, 2020 | I(0) |
| Break on Both Level and Trend | Test Statistic and Lag | Break | Conclusion |
| Health Index_UK | −6.383*** (2) | April 2, 2020 | I(0) |
| Health Index_USA | −7.981*** (0) | April 4, 2020 | I(0) |
Lags, which are selected by BIC, are in parentheses.
***
p < 0.01.
Null hypothesis: The indicator follows a unit root process.