| |
|
ADF |
|
|
|
ADF |
|
|
INWHIM |
level |
-0.14 |
-1.18 |
INMZPF |
level |
-0.37 |
-2.27 |
| |
first differences |
-1.46 |
-4.83 |
|
first differenc |
-1.33 |
-5.29 |
|
INWHPR |
level |
-0.50 |
-3.30 |
INMZWS |
level |
-0.49 |
-2.80 |
| |
first differences |
-1.22 |
-6.02 |
|
first differenc |
-1.57 |
-6.02 |
|
INWHPF |
level |
-0.23 |
-1.43 |
INMZRT |
level |
-0.56 |
-2.99 |
| |
first differences |
-1.33 |
-4.77 |
|
first differenc |
-1.23 |
-4.30 |
|
INWHWS |
level |
-0.33 |
-2.18 |
INCSPR |
level |
-0.45 |
-2.56 |
| |
first differences |
-1.32 |
-4.78 |
|
first differenc |
-1.37 |
-5.09 |
|
INWHRT |
level |
-0.27 |
-1.65 |
INCSPF |
level |
-0.06 |
-0.55 |
| |
first differences |
-1.34 |
-4.71 |
|
first differenc |
-1.08 |
-3.44 |
|
INRIIM |
level |
-0.88 |
-3.65 |
INCSWS |
level |
-0.68 |
-3.04 |
| |
first differences |
|
|
|
first differenc |
-1.91 |
-7.40 |
|
INRIEX |
level |
-0.28 |
-2.19 |
INBMEX |
level |
-0.34 |
-2.91 |
| |
first differences |
-1.38 |
-5.75 |
|
first differenc |
-1.20 |
-4.38 |
|
INRIPR |
level |
-0.54 |
-3.63 |
INBMPF |
level |
-0.05 |
-0.60 |
| |
first differences |
|
|
|
first differenc |
-0.75 |
-3.41 |
|
INRIPF |
level |
-0.17 |
-1.44 |
INBMWS |
level |
-0.40 |
-2.27 |
| |
first differences |
-1.29 |
-4.69 |
|
first differenc |
-1.46 |
-4.63 |
|
INRIWS |
level |
-0.22 |
-2.06 |
INPMWS |
level |
-0.44 |
-3.67 |
| |
first differences |
-1.47 |
-5.53 |
|
first differences |
|
|
|
INRIRT |
level |
-0.74 |
-3.34 |
INPMRT |
level |
-0.19 |
-1.23 |
| |
first differences |
-1.87 |
-5.95 |
|
first differenc |
-1.31 |
-4.15 |
|
INMZIM |
level |
-0.40 |
-2.97 |
INMPIM |
level |
-0.59 |
-2.94 |
| |
first differences |
-0.94 |
-3.62 |
|
first differenc |
-1.74 |
-6.19 |
|
INMZPR |
level |
-0.29 |
-1.83 |
INSYPF |
level |
-0.11 |
-1.69 |
| |
first differences |
-1.26 |
-4.54 |
|
first differenc |
-1.26 |
-5.38 |
see Table 1 for variables' names
Bold = significantly different from zero at 5% or less
source: own calculation on ESCB price data
