LGDP = f [LST, LBMS, LCPI, LREM, LMIG, LST x LBMS] (3)
LGDP = f [LST, LDCTPS, LCPI, LREM, LMIG, LST x LDCTPS] (4)
LGDP = f [LTURNRA, LBMS, LCPI, LREM, LMIG, LTURNRA x LBMS] (5)
LGDP = f [LTURNRA, LDCTPS, LCPI, LREM, LMIG, LTURNRA x LDCTPS] (6)
Perhaps the most influential study employing the standard consumer survey in testing the LCPI at the micro level is that of Hall and Mishkin .
Several previous studies have attempted to improve on this way of testing the LCPI by examining other data sets.
Jones  is similar to our study in the sense of using housing demand to test the LCPI.
2] exceeds both its 1% and 5% critical values, which implies rejection of the I(0, 1) hypothesis and accordingly leads to the conclusion that the series LPROD, LCPI and LWAGE include no seasonal unit roots.
Table 3 presents the calculated t-values for the ADF tests on each variable, LPROD, LCPI and LWAGE using the lag structure to achieve autocorrelation-free residuals.
Testing the first difference of LCPI the constant is significant under the alternative but also under the null hypothesis therefore the right critical values for the t-ratio are found in the usual standardized normal distribution (Dolado, Jenkinson, and Sosvilla-Rivero, 1990).
where P is the population, SHH the average size of household, HHLD the average number of households living in the same dwelling, SOOD the average share of owner-occupied dwellings in the total dwelling stock, MR the average annual rent per dwelling in 2004, LCPI
the Living costs price indices, VA the Value Added and OUT the Output.
Table 1 Unit Root Test Series in ERPT With With Intercept Model Intercept and Trend [DELTA] LCPI