| 变量 | ADF值 | 临界值 | 变量稳定性 | ||
| 1% | 5% | 10% | |||
| lnCCJ | −2.729627 | −3.920350 | −3.065585 | −2.873459 | — |
| DlnCCJ | −2.779422 | −3.857386 | −3.040391 | −2.660551 | * |
| lnCDLR | −0.975931 | −3.831511 | −3.029970 | −2.655194 | — |
| DlnCDLR | −4.669826 | −3.857386 | −3.040391 | −2.660551 | *** |
| lnRFIR | −1.457404 | −3.831511 | −3.029970 | −2.655194 | — |
| DlnRFIR | −3.148213 | −3.886751 | −3.052169 | −2.666593 | ** |