Table 2.

. | Level . | First difference . | ||
---|---|---|---|---|

. | ADF . | PP . | ADF . | PP . |

BOD | −2.854800 | −2.802497 | −5.996425** | −7.272027** |

Inequality (Theil) | −2.091449 | −2.140890 | −4.207627** | −5.116411** |

Inequality (Gini) | −1.669229 | −1.082935 | −3.751055** | −3.140159 |

Income | −1.647986 | −1.562229 | −6.270841** | −7.832962** |

. | Level . | First difference . | ||
---|---|---|---|---|

. | ADF . | PP . | ADF . | PP . |

BOD | −2.854800 | −2.802497 | −5.996425** | −7.272027** |

Inequality (Theil) | −2.091449 | −2.140890 | −4.207627** | −5.116411** |

Inequality (Gini) | −1.669229 | −1.082935 | −3.751055** | −3.140159 |

Income | −1.647986 | −1.562229 | −6.270841** | −7.832962** |

*Note*: All estimates include constant and trend. The Schwarz criterion is used to determine the optimal number of lags in the ADF test. The Newey-West method and the Bartlett kernel are used for the bandwidth in the PP test.

**Significance at the 5% level.

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