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Financial Innovation

Table 5 First-stage regression summary statistics

From: Price distortions and municipal bonds premiums: evidence from Switzerland

Model

Variable

R-sq

Adjusted R-sq

MGIV2SLS

t_yield

0.6224

0.6223

M1IV2SLS

t_yield

0.3206

0.3205

M2IV2SLS

t_yield

0.065

0.0648

  1. .estat firststage
  2. In this table, the column Robust F Value is an F statistic for the significance of the instruments coefficients. Its p-value is presented in the Prob > F column. If the F statistic is not significant, then the instruments have no significant explanatory power for t_yield after controlling for the effect of chf_eur. Source: Own estimations
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