| |
|
ADF |
PP |
|
WRWHRP |
level |
-0.04 |
-0.02 |
| |
|
-3.54 |
-2.05 |
| |
first differences |
|
-0.72 |
| |
|
|
-14.65 |
|
WRMZRP |
level |
-0.04 |
-0.02 |
| |
|
-3.06 |
-2.33 |
| |
first differences |
-0.76 |
-0.67 |
| |
|
-5.01 |
-13.96 |
|
WRSHRP |
level |
-0.04 |
-0.03 |
| |
|
-3.11 |
-2.72 |
| |
first differences |
-0.88 |
-0.74 |
| |
|
-4.84 |
-15.02 |
|
WRRIRP |
level |
-0.04 |
-0.03 |
| |
|
-2.40 |
-1.74 |
| |
first differences |
-0.91 |
-0.73 |
| |
|
-4.50 |
-12.26 |
|
WRCSRP |
level |
-0.06 |
-0.04 |
| |
|
-3.35 |
-2.95 |
| |
first differences |
-0.77 |
-0.82 |
| |
|
-4.38 |
-14.33 |
|
WRSYRP |
level |
-0.07 |
-0.05 |
| |
|
-3.11 |
-2.59 |
| |
first differences |
-0.88 |
-0.71 |
| |
|
-4.25 |
-12.01 |
|
WRSFRP |
level |
-0.10 |
-0.08 |
| |
|
-3.11 |
-2.92 |
| |
first differences |
-1.05 |
-0.73 |
| |
|
-6.30 |
-8.83 |
|
WRCPRP |
level |
-0.05 |
-0.03 |
| |
|
-3.12 |
-2.02 |
| |
first differences |
-0.73 |
-0.90 |
| |
|
-5.94 |
-14.66 |
|
WRPORP |
level |
-0.07 |
-0.06 |
| |
|
-2.51 |
-2.30 |
| |
first differences |
-1.07 |
-1.28 |
| |
|
-3.78 |
-20.53 |
|
WRBMRP |
level |
-0.04 |
-0.04 |
| |
|
-2.09 |
-2.24 |
| |
first differences |
-0.99 |
-0.80 |
| |
|
-3.62 |
-12.50 |
|
WRPMRP |
level |
-0.17 |
-0.12 |
| |
|
-1.80 |
-2.08 |
| |
first differences |
-1.32 |
-7.53 |
| |
|
-2.35 |
-7.53 |
|
WRPLRP |
level |
-0.14 |
-0.08 |
| |
|
-2.55 |
-2.01 |
| |
first differences |
-0.97 |
-0.41 |
| |
|
-2.96 |
-4.63 |
|
WRGRRP |
level |
-0.03 |
-0.03 |
| |
|
-2.32 |
-2.30 |
| |
first differences |
-1.12 |
-0.72 |
| |
|
-7.42 |
-15.63 |
|
WRCFRP |
level |
-0.04 |
-0.02 |
| |
|
-2.72 |
-1.31 |
| |
first differences |
-0.58 |
-0.72 |
| |
|
-3.56 |
-12.17 |
|
WRPKRP |
level |
-0.05 |
-0.02 |
| |
|
-4.38 |
-3.24 |
| |
first differences |
|
-0.77 |
| |
|
|
-17.58 |
see Table 1 for variables' names
Bold = significantly different from zero at 5% or less
source: own calculation on ESCB price data
