| 变量 | ADF检验值 | 1%临界值 | 5%临界值 | 10%临界值 | p值 | 结论 |
| lny | −1.971717 | −2.664853 | −1.955681 | −1.608793 | 0.0483 | 平稳 |
| lnx1 | −1.746521 | −3.724070 | −2.986225 | −2.632604 | 0.3968 | 不平稳 |
| Δlnx1 | −0.327823 | −3.737853 | −2.991878 | −2.635542 | 0.9067 | 不平稳 |
| Δ2lnx1 | −2.261566 | −2.669359 | −1.956406 | −1.608495 | 0.0258 | 平稳 |
| lnx2 | −0.148003 | −3.724070 | −2.986225 | −2.632604 | 0.9333 | 不平稳 |
| Δlnx2 | −3.804968 | −3.737853 | −2.991878 | −2.635542 | 0.0086 | 平稳 |
| lnx3 | −0.780984 | −3.737853 | −2.991878 | −2.635542 | 0.8065 | 不平稳 |
| Δlnx3 | −1.912492 | −3.737853 | −2.991878 | −2.635542 | 0.3213 | 不平稳 |
| Δ2lnx3 | −6.162492 | −3.752946 | −2.998064 | −2.638752 | 0.0000 | 平稳 |
| lnx4 | −1.019889 | −3.752946 | −2.998064 | −2.638752 | 0.7283 | 不平稳 |
| Δlnx4 | −2.435100 | −3.737853 | −2.991878 | −2.635542 | 0.1433 | 不平稳 |
| Δ2lnx4 | −7.110916 | −3.752946 | −2.998064 | −2.638752 | 0.0000 | 平稳 |
| lnx5 | −6.067916 | −3.724070 | −2.986225 | −2.632604 | 0.0000 | 平稳 |