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Table 3 Zivot–Andrews unit root test results.

From: Investigating the relationship between changes in oil prices and unemployment rate in Nigeria: linear and nonlinear autoregressive distributed lag approaches

 

Break intercept

Break (trend)

Break (both)

Level

First difference

Level

First difference

Level

First difference

Unemployment–real oil price model (Brent)

lunempl

− 3.921

(1988q1)

− 8.767***

(1995q2)

− 3.522

(1993q2)

− 8.328***

(1986q2)

− 5.187**

(1998q2)

− 9.701***

(1995q2)

lropbtr

− 3.543

(2003q3)

− 10.351***

(2008q3)

− 3.040

(1986q2)

− 10.115***

(2005q2)

− 3.218

(1999q2)

− 10.531***

(2014q3)

lrgdp

− 5.213**

(2001q2)

− 6.619***

(2001q2)

− 2.216

(2012q4)

− 7.041***

(2004q1)

− 3.916

(2001q2)

− 8.581

(2001q2)

lcpi

lrate

− 4.689*

(1987q1)

− 10.375***

(1993q2)

− 4.706**

(1992q2)

− 9.191***

(2005q1)

− 5.332**

(1994q1)

− 10.671***

(1993q2)

fdi

− 5.600***

(1988q2)

− 11.493***

(1994q2)

− 5.376***

(1993q2)

− 10.800***

(1988q4)

− 6.362***

(1995q1)

− 11.676***

(1994q2)

Unemployment–real oil price model (WTI)

lunempl

− 3.675

(1988q1)

− 8.040***

(1995q2)

− 3.517

(1992q4)

− 7.039***

(1988q3)

− 6.291***

(1998q2)

− 8.493***

(1995q2)

lrwt

− 4.177

(2003q3)

− 10.607***

(2008q3)

− 3.170

(1988q1)

− 10.391***

(2004q4)

− 3.929

(2004q1)

− 10.589***

(2014q3)

lrgdp

− 4.133

(1992q2)

− 8.690***

(2001q2)

− 2.669

(1995q1)

− 8.349

(2009q3)

− 3.640

(1992q2)

− 9.685***

(2001q2)

lcpi

lrate

− 4.636*

(1988q2)

− 9.995***

(1993q2)

− 4.837**

(1990q2)

− 8.887

(1995q4)

− 5.870***

(1994q1)

− 10.287***

(1993q2)

fdi

− 5.308**

(1988q2)

− 11.281***

(1994q2)

− 4.974***

(1993q1)

− 10.542***

(1996q2)

− 6.058***

(1995q1)

− 11.519***

(1994q2)

  1. The values in brackets are the years when the structural break occurs for individual variable
  2. *, ** and *** represent 10%, 5% and 1% level of significance