Table 5
Results of tests for breaks in growth trend of inflation-adjusted household net worth per capita, Canada and the United States
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| Tests performed, country (implied break years) | Test results | |
|---|---|---|
| results | p-value | |
| Andrews-Quandt Likelihood ratio test | ||
| 5% trim, United States (1997) | 21.84 | 0.00 |
| 5% trim, Canada (2005) | 91.74 | 0.00 |
| 10% trim, United States (1997) | 21.84 | 0.00 |
| 10% trim, Canada (2004, 2005) | 91.74 | 0.00 |
| 15% trim, United States (1997) | 21.84 | 0.00 |
| 15% trim, Canada (2005) | 91.74 | 0.00 |
| Max t statistic | ||
| Unadjusted, United States (1995) | 9.09 | 0.00 |
| Unadjusted, Canada (1992) | 10.92 | 0.00 |
| White robust standard errors, United States (1995) | 10.87 | 0.00 |
| White robust standard errors, Canada (2002) | 10.34 | 0.00 |
| HAC corrected, United States (1995) | 10.07 | 0.00 |
| HAC corrected, Canada (1993) | 7.52 | 0.00 |
| Iterative algorithm | ||
| Log likelihood, United States (1997, 2007) | -153.74 | Note ...: not applicable |
| Log likelihood, Canada (1994) | -142.17 | Note ...: not applicable |
| ... not applicable Notes: HAC stands for heteroscedasticity autocorrelation. Authors' calculations. Sources: Statistics Canada, Canadian National Balance Sheet Accounts; and U.S. Federal Reserve, Flow of Funds Accounts. |
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