Variable | PP Test with Constant |
(a) Level of Series | |
Real Money Supply (m − p): M1 | −0.059 (0.950) |
M2 | |
M3 | |
Real GDP (y) | −0.542 (0.876) |
Interest Rate (r): Saving Deposit Rate | |
Ten-Year Government Bond Yield | |
(b) First Difference of Series | |
Δ(m − p): M1 | −21.048 (0.000)*** |
M2 | |
M3 | |
Δy | −10.628 (0.000)*** |
Δr: Saving Deposit Rate | |
Ten-Year Government Bond Yield |