Table 2 Results of PURT
From: COVID-19 pandemic and the exchange rate movements: evidence from six major COVID-19 hot spots
Series | Method | Statistic | Prob. | Cross sections | Obs. |
|---|---|---|---|---|---|
Results of LLC test | |||||
LEXC | LLC | 0.61748 | 0.7315 | 6 | 1242 |
D (LEXC) | LLC | − 42.4890 | 0.00000*** | 6 | 1242 |
LTD | LLC | 6.36 | 1.0000 | 6 | 1200 |
D(LTD) | LLC | − 4.04 | 0.000*** | 6 | 1194 |
Results of IPS test | |||||
LEXC | IPS | 0.37801 | 0.6473 | 6 | 1242 |
D (LEXC) | IPS | − 38.0998 | 0.0000*** | 6 | 1242 |
LTD | IPS | − 3.76445 | 0.0001*** | 6 | 1242 |