Levin-Lin-Chu unit-root test for lnal
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Ho: Panels contain unit roots Number of panels = 217
Ha: Panels are stationary Number of periods = 9
AR parameter: Common Asymptotics: N/T -> 0
Panel means: Included
Time trend: Not included
ADF regressions: 1 lag
LR variance: Bartlett kernel, 6.00 lags average (chosen by LLC)
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Statistic p-value
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Unadjusted t -63.1434
Adjusted t* -65.1859 0.0000
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Im-Pesaran-Shin unit-root test for lnal
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Ho: All panels contain unit roots Number of panels = 217
Ha: Some panels are stationary Number of periods = 9
AR parameter: Panel-specific Asymptotics: T,N -> Infinity
Panel means: Included sequentially
Time trend: Not included
ADF regressions: No lags included
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Fixed-N exact critical values
Statistic p-value 1% 5% 10%
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t-bar -2.4090 -1.750 -1.680 -1.640
t-tilde-bar -1.5474
Z-t-tilde-bar -6.1557 0.0000
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