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Table 1 CS unit root test results with structural breaks

From: Income inequality and financial crises: evidence from the bootstrap rolling window

Countries

Statistics

lnCRE

∆lnCRE

INE

∆INE

Australia

\( {MZ}_a^{GLS} \)

− 17.878 [− 31.667]

− 35.940 [− 28.679]

−11.593 [− 28.655]

−35.401 [− 28.098]

\( {MZ}_t^{GLS} \)

− 2.911 [− 3.963]

− 4.223 [− 3.734]

− 2.341 [− 3.737]

− 4.193 [− 3.742]

Break Dates

1930,1947,1983

1929,1945,1983

Canada

\( {MZ}_a^{GLS} \)

−12.710 [− 34.937]

−42.636 [− 36.251]

−14.081 [− 23.071]

− 35.105 [− 24.111]

\( {MZ}_t^{GLS} \)

− 2.483 [− 4.162]

−4.607 [− 4.237]

−2.605 [− 3.297]

−4.183 [− 3.482]

Break Dates

1929,1943,1981

1930,1991,2000

Denmark

\( {MZ}_a^{GLS} \)

−5.448 [−27.254]

− 30.996 [− 21.022]

−16.781 [− 36.05]

− 44.140 [− 35.495]

\( {MZ}_t^{GLS} \)

−1.596 [− 3.624]

− 3.922 [− 3.148]

− 2.874 [− 4.217]

− 4.691 [− 4.188]

Break Dates

1939,1961,2004

1939,1957,1973

Finland

\( {MZ}_a^{GLS} \)

−11.497 [− 31.340]

− 35.755 [− 29.598]

− 12.177 [− 28.966]

− 41.615 [− 31.887]

\( {MZ}_t^{GLS} \)

−2.388 [− 3.946]

−4.288 [− 3.798]

−2.467 [− 3.798]

−4.560 [− 3.983]

Break Dates

1931,1948,1990

1948,1974,1992

France

\( {MZ}_a^{GLS} \)

−30.471 [− 34.781]

− 42.743 [− 31.880]

−24.119 [− 29.038]

−40.190 [− 28.893]

\( {MZ}_t^{GLS} \)

−3.902 [− 4.148]

− 4.622 [− 3.954]

−3.463 [− 3.763]

−4.481 [− 3.754]

Break Dates

1936,1945,1975

1936,1945,1957

United Kingdom

\( {MZ}_a^{GLS} \)

−9.933 [− 34.429]

−35.389 [− 34.846]

−15.329 [− 35.391]

− 44.910 [− 26.218]

\( {MZ}_t^{GLS} \)

−2.228 [− 4.130]

− 4.206 [− 4.157]

−2.760 [− 4.189]

−4.734 [− 3.613]

Break Dates

1957,1991,2007

1973,1987,2007

Japan

\( {MZ}_a^{GLS} \)

−20.339 [− 33.682]

− 45.873 [− 34.538]

−18.930 [− 31.658]

−44.494 [− 26.113]

\( {MZ}_t^{GLS} \)

−3.171 [− 4.100]

− 4.789 [− 4.143]

−3.057 [− 3.965]

−4.702 [− 3.604]

Break Dates

1944,1973,1993

1904,1944,1990

Norway

\( {MZ}_a^{GLS} \)

−16.273 [− 31.843]

− 45.689 [− 32.505]

− 26.609 [− 32.709]

−39.852 [− 32.009]

\( {MZ}_t^{GLS} \)

−2.846 [− 3.980]

− 4.779 [− 4.020]

−3.631 [− 4.026]

− 4.463 [− 3.983]

Break Dates

1980,1987,2007

1991,1998,2007

Sweden

\( {MZ}_a^{GLS} \)

−8.636 [−32.118]

−37.404 [− 33.631]

−12.943 [− 33.640]

− 42.480 [− 35.990]

\( {MZ}_t^{GLS} \)

−2.077 [− 3.998]

− 4.322 [− 4.083]

−2.525 [− 4.088]

−4.588 [− 4.226]

Break Dates

1951,1979,1992

1975,1982,2000

United States

\( {MZ}_a^{GLS} \)

−15.204 [− 35.371]

−32.854 [− 31.474]

−14.692 [− 33.262]

−38.395 [− 32.467]

\( {MZ}_t^{GLS} \)

−2.696 [− 4.180]

−4.016 [− 3.963]

−2.652 [− 4.049]

−4.377 [− 4.019]

Break Dates

1929,1942,1965

1929,1946,1984

  1. Note: Numbers in brackets are critical values at 5% significance level that obtained from 1000 bootstrap simulations. ∆ indicates the first difference operator