Determinants of non-performing loans in North Macedonia

https://doi.org/10.1080/23311975.2022.2140488
Page 26 of 40

---

Table and Figure 5.6. Zivot-Andrews unit root test on dUnemployment
Zivot-Andrews Unit Root Test
Date: 08/30/22 Time: 13:08
Sample: 2005Q1 2022Q2
Included observations: 70
Null Hypothesis: DUNEMPLOYMENT has a unit root with a structural break in the intercept
Chosen lag length: 1 (maximum lags: 4)
Chosen break point: 2013Q1
t-Statistic
Prob. *
Zivot-Andrews test statistic
−7.650728
0.047902
1% critical value:
−5.34
5% critical value:
−4.93
10% critical value:
−4.58
* Probability values are calculated from a standard t-distribution and do not take into account the breakpoint 
selection process 
-7.7
-7.6
-7.5
-7.4
-7.3
-7.2
-7.1
-7.0
2006
2008
2010
2012
2014
2016
2018
2020
2022
Zivot-Andrew Breakpoints
Golitsis et al., Cogent Business & Management (2022), 9: 2140488
https://doi.org/10.1080/23311975.2022.2140488
Page 27 of 40

---

Table and Figure 5.7. Zivot-Andrews unit root test on dLGDP
Zivot-Andrews Unit Root Test
Date: 08/30/22 Time: 13:08
Sample: 2005Q1 2022Q2
Included observations: 70
Null Hypothesis: DLGDP has a unit root with a structural break in both the intercept and trend
Chosen lag length: 3 (maximum lags: 4)
Chosen break point: 2019Q3
t-Statistic
Prob. *
Zivot-Andrews test statistic
−4.556190
0.015762
1% critical value:
−5.57
5% critical value:
−5.08
10% critical value:
−4.82
* Probability values are calculated from a standard t-distribution and do not take into account the breakpoint 
selection process 
-4.6
-4.4
-4.2
-4.0
-3.8
-3.6
2006
2008
2010
2012
2014
2016
2018
2020
2022
Zivot-Andrew Breakpoints
Golitsis et al., Cogent Business & Management (2022), 9: 2140488