| |
|
ADF |
|
|
WRWHRP |
level |
-0.36 |
-2.73 |
| |
first differences |
-1.18 |
-4.89 |
|
WRMZRP |
level |
-0.28 |
-2.35 |
| |
first differences |
-1.17 |
-5.09 |
|
WRRIRP |
level |
-0.43 |
-1.97 |
| |
first differences |
-1.11 |
-5.60 |
|
WRSHRP |
level |
-0.25 |
-2.37 |
| |
first differences |
-1.06 |
-4.63 |
|
WRBMRP |
level |
-0.19 |
-1.99 |
| |
first differences |
-1.15 |
-4.67 |
|
WRPMRP |
level |
-0.12 |
-1.40 |
| |
first differences |
-1.07 |
-4.46 |
|
WRPLRP |
level |
-0.12 |
-1.41 |
| |
first differences |
-0.78 |
-3.56 |
|
WRCSRP |
level |
-0.11 |
-1.03 |
| |
first differences |
-1.49 |
-6.74 |
|
WRSYRP |
level |
-0.25 |
-2.37 |
| |
first differences |
-1.06 |
-4.62 |
|
WRSFRP |
level |
-0.32 |
-2.62 |
| |
first differences |
-1.42 |
-7.06 |
|
WRMPRP |
level |
-0.34 |
-2.04 |
| |
first differences |
-1.40 |
-4.89 |
|
WRBURP |
level |
-0.22 |
-1.98 |
| |
first differences |
-0.93 |
-4.15 |
see Table 1 for variables' names
Bold = significantly different from zero at 5% or less
source: own calculation on ESCB price data
