| 变量 | ADF值 | 临界值 | 变量稳定性 | ||
| 1% | 5% | 10% | |||
| CCJ | −2.8773 | −4.5716 | −3.6908 | −3.2869 | — |
| D(CCJ) | −3.6172 | −4.7284 | −3.7597 | −3.3250 | * |
| CDLR | −2.4000 | −4.5326 | −3.6736 | −3.2774 | — |
| D(CDLR) | −4.8706 | −4.5716 | −3.6908 | −3.2869 | *** |
| RFIR | −1.2998 | −4.5326 | −3.6736 | −3.2774 | — |
| D(RFIR) | −5.6825 | −4.6162 | −3.7105 | −3.2978 | *** |