Seasonality Tests - Control Variables
Friedman Rank Test
QS Test
Kruskall Wallis Test
F-Test on Seasonal Dummies
Test-Stat p-Value Test-Stat p-Value Test-Stat p-Value Test-Stat p-Value
Industrial Production 8.973475 0.6243408 0.0000000 1.0000000 5.163479 0.9229914 0.9830827 0.4614114
US Oil Production 18.538462 0.0698983 0.0000000 1.0000000 17.661512 0.0897744 1.4705561 0.1407659
Geopolitical Risk 7.196287 0.7829723 1.3911078 0.4987981 6.606995 0.8299589 0.9548671 0.4877468
REER 13.278515 0.2755123 0.0000000 1.0000000 10.097034 0.5216806 1.4264450 0.1590706
Kilian Index 10.570292 0.4799322 0.0000000 1.0000000 10.603718 0.4770341 1.0114978 0.4355752
Real 1-Year Interest 35.435013 0.0002100 9.0795984 0.0106756 36.730248 0.0001279 5.0994374 0.0000002
Real 10-Year Interest 22.177719 0.0230320 0.7850488 0.6753499 24.004493 0.0127143 1.7885135 0.0546861