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i am working on the impact of exchange rate on returns. for returns i took stock prices and convert them to return by applying formula = LN(pt/pt-1). than i took these returns to eviews and apply ADF at level and my series were found stationary at level. now plz help me whether to treat it stationar...

The Prob.* value is less than 0.05 and t-static is more than critical values at 1% 5% and 10% in your working file so you are going to reject null hypothesis that states that series are non stationary. accept alternative hypothesis that state that series are stationary.

i want to ask 1 question. in my research i am dealing with returns and for returns i took stock prices and apply return formula ln (pt/pt-1) to calculate returns. i took these returns to eviews. now plz guide me either i am going to treat data at level or it is 1st difference? because if i apply ADF...