Official websites use .gov
A
.gov website belongs to an official
government organization in the United States.
Secure .gov websites use HTTPS
A lock (
) or https:// means you've safely
connected to the .gov website. Share sensitive
information only on official, secure websites.
Panel unit root test of Pesaran (15).
| Panel unit root test (CIPS) | NCPM | ΔNCPM | NDPM | ΔNDPM | GPR | ΔGPR |
|---|---|---|---|---|---|---|
| Specification without trend | 4.646 [0.99] | −3.217*** [0.00] | 0.913 [0.82] | −4.224*** [0.00] | −2 978*** [0.00] | −19 17*** [0.00] |
| Specification with trend | 4.155 [0.99] | −3.813*** [0.00] | 2.506 [0.99] | −4.761*** [0.00] | −2 594*** [0.00] | −21 52*** [0.00] |
Null hypothesis: Series are unit root.
p < 0.01, and the p-values are in brackets.
