Variables | Eastern | Non-Eastern | |
---|---|---|---|
(18) | (19) | (20) | |
PG | PG | PG | |
DT I(FDb it ≤ γ1) | − 0.4714*** |  | − 1.4568** |
(− 9.7293) |  | (− 2.5204) | |
DT I(γ1 < FDb it ≤ γ2) | − 0.1054*** |  | − 3.3469*** |
(− 3.3951) |  | (− 4.5181) | |
DT I(γ2 < FDb it) | 0.5164*** |  | 0.5526*** |
(52.9095) | Â | (5.0776) | |
DT I(FDc it ≤ γ) |  | − 0.5522*** |  |
 | (− 14.6606) |  | |
DT I(γ1 < FDc it ≤ γ2) |  | 0.5105*** |  |
 | (47.6832) |  | |
DT I(γ < FDc it) |  | 0.5357*** |  |
 | (44.7272) |  | |
Control | Yes | Yes | Yes |
Constant | 0.3243*** | 0.3167*** | 0.8701*** |
(16.9272) | (16.6300) | (4.7139) | |
Observations | 32,394 | 32,394 | 511 |
Number of new id | 3004 | 3004 | 84 |
R-squared | 0.130 | 0.134 | 0.152 |