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Table 3 Unit root tests in panel data

From: Using state level employment thresholds to explain Okun’s Law

Variable

Unemployment

Output Gap (HP)

Output Gap (Quad.)

LLC (2002) - Adjusted t∗

-8.0438***

-18.6990***

-22.0075***

IPS (2003) - t bar

-0.7597

-0.2737

-1.5027

IPS (2003) - Z t b ar

6.3896

10.2588

0.1444

Choi (2002) - Pm

9.4451***

45.9971***

66.5524***

Choi (2002) - Z

-8.2248***

-21.2491***

-27.3692***

Choi (2002) - L*

-8.2403***

-28.7373***

-40.6531***

  1. * p < 0.10, ** p < 0.05, *** p < 0.01.
  2. (t) denotes a trend is included.
  3. LLC: under alternative hypothesis panels are stationary.
  4. IPS: under alternative hypothesis some panels are stationary.
  5. Choi: under alternative hypothesis at least one panel is stationary.
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