CES VŠEM o aktuálních ekonomických problémech

Table 21: Panel unit root tests – country characteristics II
(inflation)
no trend
trend
test t. statistics P-value t. statistics P-value
High inflation
LLCa) Unadjusted -3.3921 -4.8285
Adjusted ( ) -1.4382 0.0752 -0.4481 0.3270
IPSa) 0.0554 0.5221 0.4343 0.6680
M-Wa), b) Z -3.4417 0.0003 0.7945 0.7866
M-Wa), c) Z 0.2286 0.5904 0.3879 0.6509
CADFd) -2.619 -3.428
Z[-bar] -2.234 0.013 -3.070 0.001
Low inflation
LLCa) Unadjusted -3.5822 -7.9106
Adjusted ( ) -2.5206 0.0059 -5.1826 0.0000
IPSa) -0.8659 0.1933 -3.8076 0.0001
M-Wa), b) Z -4.4536 0.0000 -4.2623 0.0000
M-Wa), c) Z -0.5045 0.3070 -1.9115 0.0280
CADFd) -2.898 -3.888
Z[-bar] -2.977 0.001 -4.379 0.000
Note: a) demeaned time series. b) DF, drift; Inverse normal Z statistics
reported, c) PP, drift; Inverse normal Z statistics reported, d) truncated –
approximation of extreme values of the distribution.
Source: own calculations.
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