From: Can news-based economic sentiment predict bubbles in precious metal markets?
 | ADF test | PP test | ||
---|---|---|---|---|
Including intercept | Including intercept and trend | Including intercept | Including intercept and trend | |
NESI |  − 5.6730*** |  − 5.7730*** |  − 5.5821*** |  − 5.7052*** |
(0.0050) | (0.0000) | (0.0000) | (0.0000) | |
MCSI |  − 3.4673*** |  − 3.5441** |  − 3.1910** |  − 3.2927* |
(0.0093) | (0.0361) | (0.0212) | (0.0688) | |
SIBW |  − 3.4034** |  − 4.7582*** |  − 3.2307** |  − 3.4661** |
(0.0141) | (0.0006) | (0.0190) | (0.0445) | |
Inflation |  − 16.6796*** |  − 16.6604*** |  − 22.9012*** |  − 22.8348*** |
(0.0000) | (0.0000) | (0.0000) | (0.0000) | |
USDI |  − 4.8289*** |  − 4.2260*** |  − 4.0976*** |  − 3.3947* |
(0.0001) | (0.0044) | (0.0011) | (0.0534) | |
EFR |  − 2.8337** |  − 3.5288** |  − 2.9820* |  − 3.7906** |
(0.0463) | (0.0376) | (0.0893) | (0.0334) | |
T-Spread | − 2.8572** | − 3.5756** | − 2.9329* | − 3.0242* |
(0.0465) | (0.0291) | (0.0933) | (0.0801) | |
GEA | − 4.0436*** | − 4.0410*** | − 3.4120** | − 3.4094* |
(0.0013) | (0.0082) | (0.0111) | (0.0514) |