Analysis of the Impact of U.S. Trade Policy Uncertainty on China Based on Bayesian VAR Model

Table 2

ADF test results of each variable.

Variables	ADF statistics	value
GDP	0.092592	0.9967
Investment	−0.453836	0.9838
Consumption	−1.510519	0.8182
NetExports	−1.918976	0.6358
TPU	−0.355351	0.5539
	−3.128341	0.0284
	−3.056531	0.0341
	−6.254490
	−8.389997
	−13.84341	0.0001

Note: denotes first-order difference.