Appendix A: Augmented Dickey-Fuller unit root tests
| Fiscal Balance | Net Tax | Government Spending | GDP | |
|---|---|---|---|---|
| None | -3.279 | -0.629* | 0.594 | 3.300 |
| Intercept | -3.055 | -1.262* | -0.683* | 0.440* |
| Intercept and Trend | -2.754* | -2.183* | -1.315* | -1.564* |
* Indicates statistically significant unit root.
