Table 2 Phillips–Perron unit root test
From: Real effective exchange rate misalignment and currency crisis in Iran
Variables | Level | 1st difference | Level of integration | ||
|---|---|---|---|---|---|
Phillips–Perron test statistic | P value | Phillips–Perron test statistic | P value | ||
REER | − 2.887 | 0.1794 | − 10.019*** | 0.000 | I(1) |
OX | − 1.867 | 0.6488 |  − 5.454*** | 0.0005 | I(1) |
OPEN | − 2.651 | 0.2615 |  − 5.432*** | 0.0004 | I(1) |
TOT | − 4.658*** | 0.0030 | – | – | I(0) |
NFA | 8.053 | 1.000 | − 4.692*** | 0.0036 | I(1) |
GOV | − 1.940 | 0.6149 | − 6.944*** | 0.0000 | I(1) |
PRO | − 5.095*** | 0.0009 | – | – | I(0) |