From: The relative importance of competition to contagion: evidence from the digital currency market
 | (0,0) | (0,7) | (0,30) | (0,90) | ||||
---|---|---|---|---|---|---|---|---|
Baseline | Contrast | Baseline | Contrast | Baseline | Contrast | Baseline | Contrast | |
Panel 1: Interact with rank | ||||||||
 Rankit | .00098*** (3.50) | .00104** (2.08) | .00720*** (7.77) | .00686*** (4.93) | .03679*** (9.42) | .03966*** (6.58) | .06507*** (15.55) | .22015*** (14.45) |
 BTCRt, USD | −.08045 (−1.49) | .09562 (1.26) | .02606 (0.46) | .28892*** (4.38) | .06653 (0.76) | .14871 (1.24) | .45115** (2.29) | .91241*** (2.82) |
 Rankit × BTCRt, USD | −.00339 (−0.78) | −.01121** (−2.05) | −.00776** (−1.96) | −.02090*** (−5.05) | −.01893** (− 2.48) | −.02010*** (− 2.59) | −.04709*** (− 4.76) | −.09621*** (− 7.56) |
 Controls&FE | √ | √ | √ | √ | √ | √ | √ | √ |
 R-squared | 0.0262 | 0.0410 | 0.0606 | 0.1048 | 0.0883 | 0.1174 | 0.1149 | 0.2951 |
 # Obs. | 13,072 | 6272 | 12,999 | 6233 | 12,474 | 5960 | 10,974 | 5180 |
Panel 2: Interact with Minor | ||||||||
 Minorit | .00314 (0.30) | −.00310 (−0.56) | .01122** (2.11) | −.03413** (−2.51) | .00208 (0.04) | −.17684*** (−3.04) | .53573*** (11.51) | .03429 (0.54) |
 BTCRt, USD | −.14091*** (−4.91) | .03313 (0.48) | −.07499** (−2.13) | .12918*** (2.95) | −.16200** (−2.45) | .09299 (0.92) | −.07871 (−0.43) | .19147 (0.62) |
 Minorit × BTCRt, USD | .04754 (0.88) | −.12249 (−1.50) | .01319 (0.26) | −.18140*** (−3.51) | .00392 (0.05) | −.25557** (−2.96) | −.04046 (− 0.37) | −.54270*** (− 4.72) |
 Controls&FE | √ | √ | √ | √ | √ | √ | √ | √ |
 R-squared | 0.0252 | 0.0397 | 0.0580 | 0.1006 | 0.0809 | 0.1132 | 0.0913 | 0.2509 |
 # Obs. | 13,072 | 6272 | 12,999 | 6233 | 12,474 | 5960 | 10,974 | 5180 |