	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)	(15)	(16)	(17)	(18)	(19)	(20)	(21)	(22)	(23)	(24)	(25)	(26)	(27)	(28)	(29)	(30)	(31)	(32)	(33)	(34)	(35)	(36)	(37)	(38)	(39)	(40)	(41)	(42)	(43)	(44)	(45)	(46)	(47)	(48)	(49)	(50)	(51)	(52)	(53)	(54)	(55)	(56)	(57)	(58)	(59)	(60)	(61)	(62)	(63)	(64)	(65)	(66)	(67)	(68)	(69)	(70)	(71)	(72)	(73)	(74)	(75)	(76)	(77)	(78)	(79)	(80)	(81)	(82)	(83)	(84)	(85)	(86)	(87)	(88)	(89)	(90)	(91)	(92)	(93)	(94)	(95)	(96)	(97)	(98)	(99)	(100)	(101)	(102)	(103)	(104)	(105)	(106)	(107)	(108)	(109)	(110)	(111)	(112)	(113)	(114)	(115)	(116)	(117)	(118)	(119)	(120)	(121)	(122)	(123)	(124)	(125)	(126)	(127)	(128)	(129)	(130)	(131)	(132)	(133)	(134)	(135)	(136)	(137)	(138)	(139)	(140)	(141)	(142)	(143)	(144)	(145)	(146)	(147)	(148)	(149)	(150)	(151)	(152)	(153)	(154)	(155)	(156)	(157)	(158)	(159)	(160)	(161)	(162)	(163)	(164)	(165)	(166)	(167)	(168)	(169)	(170)	(171)	(172)	(173)	(174)	(175)	(176)	(177)	(178)	(179)	(180)	(181)	(182)	(183)	(184)	(185)	(186)	(187)	(188)	(189)	(190)	(191)	(192)	(193)	(194)	(195)	(196)	(197)	(198)	(199)	(200)	(201)	(202)	(203)	(204)	(205)	(206)	(207)	(208)	(209)	(210)	(211)	(212)	(213)	(214)	(215)	(216)	(217)	(218)	(219)	(220)	(221)	(222)	(223)	(224)	(225)	(226)	(227)	(228)	(229)	(230)	(231)	(232)	(233)	(234)	(235)	(236)	(237)	(238)	(239)	(240)	(241)	(242)	(243)	(244)	(245)	(246)	(247)	(248)	(249)	(250)	(251)	(252)	(253)	(254)	(255)	(256)	(257)	(258)	(259)	(260)	(261)	(262)	(263)	(264)
VARIABLES	wzt ln_oe_L_4	wzt young ln_oe_L_4	wzt old ln_oe_L_4	wzt 4 ln_oe_L_4	wzt 5 ln_oe_L_4	wzt unrwz ln_oe_L_4	wzt ln_oe_L_4	wzt ln_oe_L_4	wzt ln_oe_K_4	wzt young ln_oe_K_4	wzt old ln_oe_K_4	wzt 4 ln_oe_K_4	wzt 5 ln_oe_K_4	wzt unrwz ln_oe_K_4	wzt ln_oe_K_4	wzt ln_oe_K_4	wzt ln_oe_M_4	wzt young ln_oe_M_4	wzt old ln_oe_M_4	wzt 4 ln_oe_M_4	wzt 5 ln_oe_M_4	wzt unrwz ln_oe_M_4	wzt ln_oe_M_4	wzt ln_oe_M_4	wzt ln_rts_4	wzt young ln_rts_4	wzt old ln_rts_4	wzt 4 ln_rts_4	wzt 5 ln_rts_4	wzt unrwz ln_rts_4	wzt ln_rts_4	wzt ln_rts_4	wzt ln_oe_L_4rts	wzt young ln_oe_L_4rts	wzt old ln_oe_L_4rts	wzt 4 ln_oe_L_4rts	wzt 5 ln_oe_L_4rts	wzt unrwz ln_oe_L_4rts	wzt ln_oe_L_4rts	wzt ln_oe_L_4rts	wzt ln_oe_K_4rts	wzt young ln_oe_K_4rts	wzt old ln_oe_K_4rts	wzt 4 ln_oe_K_4rts	wzt 5 ln_oe_K_4rts	wzt unrwz ln_oe_K_4rts	wzt ln_oe_K_4rts	wzt ln_oe_K_4rts	wzt ln_oe_M_4rts	wzt young ln_oe_M_4rts	wzt old ln_oe_M_4rts	wzt 4 ln_oe_M_4rts	wzt 5 ln_oe_M_4rts	wzt unrwz ln_oe_M_4rts	wzt ln_oe_M_4rts	wzt ln_oe_M_4rts	wzt ln_markup_4	wzt young ln_markup_4	wzt old ln_markup_4	wzt 4 ln_markup_4	wzt 5 ln_markup_4	wzt unrwz ln_markup_4	wzt ln_markup_4	wzt ln_markup_4	wzt ln_lab_markdown_4	wzt young ln_lab_markdown_4	wzt old ln_lab_markdown_4	wzt 4 ln_lab_markdown_4	wzt 5 ln_lab_markdown_4	wzt unrwz ln_lab_markdown_4	wzt ln_lab_markdown_4	wzt ln_lab_markdown_4	wzt ln_rm	wzt young ln_rm	wzt old ln_rm	wzt 4 ln_rm	wzt 5 ln_rm	wzt unrwz ln_rm	wzt ln_rm	wzt ln_rm	wzt ln_rk	wzt young ln_rk	wzt old ln_rk	wzt 4 ln_rk	wzt 5 ln_rk	wzt unrwz ln_rk	wzt ln_rk	wzt ln_rk	wzt ln_l	wzt young ln_l	wzt old ln_l	wzt 4 ln_l	wzt 5 ln_l	wzt unrwz ln_l	wzt ln_l	wzt ln_l	wzt ln_CS_lab	wzt young ln_CS_lab	wzt old ln_CS_lab	wzt 4 ln_CS_lab	wzt 5 ln_CS_lab	wzt unrwz ln_CS_lab	wzt ln_CS_lab	wzt ln_CS_lab	wzt ln_CS_mat	wzt young ln_CS_mat	wzt old ln_CS_mat	wzt 4 ln_CS_mat	wzt 5 ln_CS_mat	wzt unrwz ln_CS_mat	wzt ln_CS_mat	wzt ln_CS_mat	wzt ln_CS_kap	wzt young ln_CS_kap	wzt old ln_CS_kap	wzt 4 ln_CS_kap	wzt 5 ln_CS_kap	wzt unrwz ln_CS_kap	wzt ln_CS_kap	wzt ln_CS_kap	wzt ln_wageshare_rev	wzt young ln_wageshare_rev	wzt old ln_wageshare_rev	wzt 4 ln_wageshare_rev	wzt 5 ln_wageshare_rev	wzt unrwz ln_wageshare_rev	wzt ln_wageshare_rev	wzt ln_wageshare_rev	wzt ln_wageshare	wzt young ln_wageshare	wzt old ln_wageshare	wzt 4 ln_wageshare	wzt 5 ln_wageshare	wzt unrwz ln_wageshare	wzt ln_wageshare	wzt ln_wageshare	wzt oe_L_4	wzt young oe_L_4	wzt old oe_L_4	wzt 4 oe_L_4	wzt 5 oe_L_4	wzt unrwz oe_L_4	wzt oe_L_4	wzt oe_L_4	wzt oe_K_4	wzt young oe_K_4	wzt old oe_K_4	wzt 4 oe_K_4	wzt 5 oe_K_4	wzt unrwz oe_K_4	wzt oe_K_4	wzt oe_K_4	wzt oe_M_4	wzt young oe_M_4	wzt old oe_M_4	wzt 4 oe_M_4	wzt 5 oe_M_4	wzt unrwz oe_M_4	wzt oe_M_4	wzt oe_M_4	wzt rts_4	wzt young rts_4	wzt old rts_4	wzt 4 rts_4	wzt 5 rts_4	wzt unrwz rts_4	wzt rts_4	wzt rts_4	wzt oe_L_4rts	wzt young oe_L_4rts	wzt old oe_L_4rts	wzt 4 oe_L_4rts	wzt 5 oe_L_4rts	wzt unrwz oe_L_4rts	wzt oe_L_4rts	wzt oe_L_4rts	wzt oe_K_4rts	wzt young oe_K_4rts	wzt old oe_K_4rts	wzt 4 oe_K_4rts	wzt 5 oe_K_4rts	wzt unrwz oe_K_4rts	wzt oe_K_4rts	wzt oe_K_4rts	wzt oe_M_4rts	wzt young oe_M_4rts	wzt old oe_M_4rts	wzt 4 oe_M_4rts	wzt 5 oe_M_4rts	wzt unrwz oe_M_4rts	wzt oe_M_4rts	wzt oe_M_4rts	wzt CS_lab	wzt young CS_lab	wzt old CS_lab	wzt 4 CS_lab	wzt 5 CS_lab	wzt unrwz CS_lab	wzt CS_lab	wzt CS_lab	wzt CS_mat	wzt young CS_mat	wzt old CS_mat	wzt 4 CS_mat	wzt 5 CS_mat	wzt unrwz CS_mat	wzt CS_mat	wzt CS_mat	wzt CS_kap	wzt young CS_kap	wzt old CS_kap	wzt 4 CS_kap	wzt 5 CS_kap	wzt unrwz CS_kap	wzt CS_kap	wzt CS_kap	wzt ln_oe_LK_4	wzt young ln_oe_LK_4	wzt old ln_oe_LK_4	wzt 4 ln_oe_LK_4	wzt 5 ln_oe_LK_4	wzt unrwz ln_oe_LK_4	wzt ln_oe_LK_4	wzt ln_oe_LK_4	wzt ln_oe_LM_4	wzt young ln_oe_LM_4	wzt old ln_oe_LM_4	wzt 4 ln_oe_LM_4	wzt 5 ln_oe_LM_4	wzt unrwz ln_oe_LM_4	wzt ln_oe_LM_4	wzt ln_oe_LM_4	wzt ln_oe_MK_4	wzt young ln_oe_MK_4	wzt old ln_oe_MK_4	wzt 4 ln_oe_MK_4	wzt 5 ln_oe_MK_4	wzt unrwz ln_oe_MK_4	wzt ln_oe_MK_4	wzt ln_oe_MK_4	wzt ln_lab_capQ	wzt young ln_lab_capQ	wzt old ln_lab_capQ	wzt 4 ln_lab_capQ	wzt 5 ln_lab_capQ	wzt unrwz ln_lab_capQ	wzt ln_lab_capQ	wzt ln_lab_capQ	wzt ln_lab_matQ	wzt young ln_lab_matQ	wzt old ln_lab_matQ	wzt 4 ln_lab_matQ	wzt 5 ln_lab_matQ	wzt unrwz ln_lab_matQ	wzt ln_lab_matQ	wzt ln_lab_matQ	wzt ln_mat_capQ	wzt young ln_mat_capQ	wzt old ln_mat_capQ	wzt 4 ln_mat_capQ	wzt 5 ln_mat_capQ	wzt unrwz ln_mat_capQ	wzt ln_mat_capQ	wzt ln_mat_capQ
																																																																																																																																																																																																																																																																								
d1ln_rturnover	-0.553***	-0.530***	-0.554***	-0.552***	-0.554***	-0.570***	-9.16e-05		-0.378***	-0.395***	-0.378***	-0.400***	-0.317***	-0.392***	-0.217***		0.138***	0.128***	0.138***	0.143***	0.124***	0.143***	0.00254***		-0.0121***	-0.0127***	-0.0121***	-0.0122***	-0.0116***	-0.0124***	-0.00348***		-0.541***	-0.518***	-0.542***	-0.540***	-0.543***	-0.558***	0.00339		-0.366***	-0.383***	-0.366***	-0.387***	-0.306***	-0.379***	-0.214***		0.150***	0.141***	0.150***	0.155***	0.136***	0.155***	0.00603***		-0.0535***	-0.0543***	-0.0536***	-0.0545***	-0.0499***	-0.0554***	0.00208***		-0.0908***	-0.230***	-0.0864***	-0.0723***	-0.143***	-0.0970***	-0.330***		1.024***	1.042***	1.024***	1.026***	1.021***	1.022***	0.684***		0.153***	0.199***	0.151***	0.134***	0.212***	0.120***	0.272***		0.174***	0.213***	0.173***	0.160***	0.218***	0.147***	0.684***		-0.336***	-0.203***	-0.340***	-0.346***	-0.305***	-0.343***	0.394***		0.264***	0.215***	0.266***	0.277***	0.229***	0.273***	0.00271		-0.607***	-0.628***	-0.607***	-0.615***	-0.581***	-0.629***	-0.409***		-0.576***	-0.376***	-0.582***	-0.597***	-0.513***	-0.594***	0.0748***		-0.573***	-0.372***	-0.580***	-0.594***	-0.511***	-0.592***	0.0410***		-0.0976***	-0.0915***	-0.0978***	-0.100***	-0.0895***	-0.101***	0.00315***		-0.0194***	-0.0191***	-0.0194***	-0.0200***	-0.0174***	-0.0202***	-0.0103***		0.104***	0.0972***	0.104***	0.107***	0.0947***	0.108***	0.00336***		-0.0124***	-0.0130***	-0.0123***	-0.0125***	-0.0119***	-0.0127***	-0.00354***		-0.0930***	-0.0872***	-0.0932***	-0.0955***	-0.0856***	-0.0962***	0.00353***		-0.0183***	-0.0180***	-0.0183***	-0.0189***	-0.0164***	-0.0191***	-0.00994***		0.111***	0.105***	0.111***	0.114***	0.102***	0.115***	0.00616***		-0.0592***	-0.0389***	-0.0599***	-0.0619***	-0.0516***	-0.0605***	0.0586***		0.159***	0.133***	0.160***	0.165***	0.143***	0.165***	0.00763***		-0.100***	-0.0941***	-0.100***	-0.103***	-0.0911***	-0.104***	-0.0663***		-0.175***	-0.135***	-0.176***	-0.153***	-0.237***	-0.179***	0.217***		-0.691***	-0.658***	-0.693***	-0.695***	-0.678***	-0.713***	-0.00263		0.516***	0.523***	0.517***	0.542***	0.441***	0.535***	0.220***		0.0213***	0.0141	0.0216***	0.0263***	0.00677	0.0271***	0.412***		-0.850***	-0.829***	-0.851***	-0.866***	-0.803***	-0.875***	0		0.871***	0.843***	0.873***	0.892***	0.810***	0.902***	0.412***	
	(0.00393)	(0.0305)	(0.00388)	(0.00430)	(0.00864)	(0.00413)	(0.00324)		(0.00453)	(0.0259)	(0.00459)	(0.00500)	(0.00955)	(0.00469)	(0.00587)		(0.000876)	(0.00577)	(0.000875)	(0.000937)	(0.00194)	(0.000922)	(0.000555)		(0.000115)	(0.000899)	(0.000113)	(0.000124)	(0.000254)	(0.000119)	(0.000142)		(0.00387)	(0.0299)	(0.00382)	(0.00424)	(0.00851)	(0.00407)	(0.00319)		(0.00452)	(0.0260)	(0.00457)	(0.00498)	(0.00955)	(0.00468)	(0.00586)		(0.000943)	(0.00645)	(0.000940)	(0.00100)	(0.00211)	(0.000992)	(0.000637)		(0.000784)	(0.00401)	(0.000794)	(0.000868)	(0.00169)	(0.000832)	(0.000803)		(0.00581)	(0.0465)	(0.00576)	(0.00656)	(0.0122)	(0.00625)	(0.0117)		(0.00246)	(0.0124)	(0.00251)	(0.00275)	(0.00527)	(0.00260)	(0.00471)		(0.00475)	(0.0350)	(0.00472)	(0.00499)	(0.0112)	(0.00486)	(0.00732)		(0.00371)	(0.0289)	(0.00367)	(0.00374)	(0.00920)	(0.00386)	(0.00471)		(0.00553)	(0.0355)	(0.00556)	(0.00608)	(0.0123)	(0.00601)	(0.0109)		(0.00216)	(0.0136)	(0.00217)	(0.00238)	(0.00451)	(0.00230)	(0.00310)		(0.00414)	(0.0303)	(0.00413)	(0.00442)	(0.00967)	(0.00424)	(0.00594)		(0.00568)	(0.0363)	(0.00568)	(0.00622)	(0.0124)	(0.00620)	(0.0105)		(0.00559)	(0.0355)	(0.00558)	(0.00611)	(0.0122)	(0.00610)	(0.0102)		(0.000632)	(0.00483)	(0.000625)	(0.000667)	(0.00146)	(0.000665)	(0.000436)		(0.000197)	(0.00109)	(0.000199)	(0.000209)	(0.000454)	(0.000205)	(0.000261)		(0.000636)	(0.00436)	(0.000635)	(0.000680)	(0.00141)	(0.000668)	(0.000392)		(0.000118)	(0.000921)	(0.000116)	(0.000128)	(0.000261)	(0.000123)	(0.000146)		(0.000598)	(0.00459)	(0.000592)	(0.000633)	(0.00138)	(0.000629)	(0.000404)		(0.000192)	(0.00106)	(0.000194)	(0.000203)	(0.000444)	(0.000200)	(0.000254)		(0.000669)	(0.00479)	(0.000665)	(0.000714)	(0.00149)	(0.000701)	(0.000441)		(0.000901)	(0.00559)	(0.000906)	(0.00101)	(0.00190)	(0.000972)	(0.00160)		(0.00113)	(0.00744)	(0.00113)	(0.00125)	(0.00240)	(0.00120)	(0.00173)		(0.000788)	(0.00519)	(0.000787)	(0.000867)	(0.00170)	(0.000829)	(0.000983)		(0.00516)	(0.0372)	(0.00513)	(0.00560)	(0.0116)	(0.00537)	(0.00687)		(0.00453)	(0.0355)	(0.00447)	(0.00492)	(0.0101)	(0.00476)	(0.00342)		(0.00497)	(0.0280)	(0.00504)	(0.00547)	(0.0104)	(0.00514)	(0.00609)		(0.00428)	(0.0319)	(0.00429)	(0.00428)	(0.0112)	(0.00448)	(0.00740)		(0.00455)	(0.0313)	(0.00456)	(0.00469)	(0.0111)	(0.00475)	(0)		(0.00536)	(0.0371)	(0.00536)	(0.00572)	(0.0123)	(0.00551)	(0.00740)	
d1ln_lab_matQ							0.651***	0.651***							0.189***	0.317***							-0.159***	-0.161***							0.0101***	0.0121***							0.641***	0.639***							0.179***	0.305***							-0.169***	-0.173***							0.0654***	0.0642***							-0.282***	-0.0879***							-0.401***	-0.802***							0.140***	-0.0195***							0.599***	0.198***							0.858***	0.627***							-0.308***	-0.309***							0.233***	0.473***							0.765***	0.721***							0.723***	0.699***							0.119***	0.117***							0.0107***	0.0167***							-0.119***	-0.121***							0.0104***	0.0124***							0.114***	0.111***							0.00981***	0.0156***							-0.123***	-0.127***							0.139***	0.104***							-0.178***	-0.183***							0.0397***	0.0786***							0.461***	0.334***							0.810***	0.812***							-0.349***	-0.478***							0.459***	0.218***							1***	1***							-0.541***	-0.782***
							(0.00350)	(0.00279)							(0.00484)	(0.00381)							(0.000596)	(0.000432)							(0.000152)	(0.000110)							(0.00345)	(0.00276)							(0.00483)	(0.00380)							(0.000696)	(0.000493)							(0.000898)	(0.000731)							(0.0121)	(0.00719)							(0.00453)	(0.00377)							(0.00519)	(0.00303)							(0.00453)	(0.00377)							(0.0110)	(0.00631)							(0.00336)	(0.00208)							(0.00452)	(0.00353)							(0.0107)	(0.00623)							(0.0104)	(0.00611)							(0.000479)	(0.000328)							(0.000222)	(0.000168)							(0.000407)	(0.000289)							(0.000156)	(0.000113)							(0.000441)	(0.000302)							(0.000216)	(0.000164)							(0.000466)	(0.000325)							(0.00166)	(0.000988)							(0.00179)	(0.00103)							(0.000763)	(0.000660)							(0.00616)	(0.00469)							(0.00368)	(0.00286)							(0.00506)	(0.00395)							(0.00629)	(0.00428)							(0)	(0)							(0.00629)	(0.00428)
Constant	0.00191***	0.00197	0.00190***	0.00299***	-0.000738*	0.00242***	-0.00171***	-0.00172***	0.0115***	0.0200***	0.0114***	0.0114***	0.0114***	0.0118***	0.0105***	0.00790***	-0.00132***	-0.00200***	-0.00130***	-0.00149***	-0.000782***	-0.00144***	-0.000428***	-0.000398***	0.000148***	0.000235***	0.000147***	0.000152***	0.000134***	0.000157***	9.17e-05***	5.08e-05***	0.00176***	0.00173	0.00175***	0.00284***	-0.000872**	0.00226***	-0.00181***	-0.00177***	0.0114***	0.0197***	0.0113***	0.0112***	0.0113***	0.0116***	0.0104***	0.00785***	-0.00146***	-0.00223***	-0.00145***	-0.00165***	-0.000916***	-0.00160***	-0.000520***	-0.000449***	0.0112***	0.0138***	0.0112***	0.0114***	0.0108***	0.0112***	0.0109***	0.0109***	-0.00163***	-0.00939**	-0.00149***	-0.000223	-0.00469***	-0.00131***	-5.86e-05	-0.00394***	-0.00975***	-0.0143***	-0.00969***	-0.00983***	-0.00953***	-0.00963***	-0.00752***	0.000513**	0.0141***	0.0172***	0.0141***	0.0137***	0.0147***	0.0145***	0.0133***	0.0165***	-0.00418***	-0.00489**	-0.00418***	-0.00284***	-0.00777***	-0.00348***	-0.00752***	0.000513**	-0.000274	0.00757*	-0.000425	-0.000467	-8.49e-06	-0.000105	-0.00505***	-0.000427	-0.00519***	-0.00684***	-0.00516***	-0.00514***	-0.00507***	-0.00532***	-0.00348***	-0.00345***	0.0187***	0.0246***	0.0186***	0.0184***	0.0192***	0.0188***	0.0174***	0.0126***	-0.00483***	0.000133	-0.00495***	-0.00516***	-0.00447***	-0.00442***	-0.00909***	-0.00821***	-0.00605***	-0.00164	-0.00616***	-0.00639***	-0.00567***	-0.00562***	-0.0101***	-0.00959***	0.000514***	0.000781*	0.000509***	0.000675***	6.52e-05	0.000604***	-0.000145***	-0.000108***	0.000612***	0.000884***	0.000608***	0.000593***	0.000643***	0.000627***	0.000553***	0.000432***	-0.000971***	-0.00145***	-0.000962***	-0.00111***	-0.000565***	-0.00107***	-0.000310***	-0.000271***	0.000152***	0.000239***	0.000151***	0.000157***	0.000137***	0.000162***	9.44e-05***	5.28e-05***	0.000467***	0.000708*	0.000462***	0.000624***	3.19e-05	0.000553***	-0.000165***	-0.000124***	0.000591***	0.000854***	0.000588***	0.000573***	0.000623***	0.000605***	0.000537***	0.000420***	-0.00105***	-0.00158***	-0.00105***	-0.00119***	-0.000649***	-0.00116***	-0.000369***	-0.000297***	-4.29e-05	0.00121*	-6.54e-05	-9.45e-05*	3.24e-05	-1.04e-05	-0.000814***	-0.000126***	-0.00306***	-0.00401***	-0.00304***	-0.00300***	-0.00307***	-0.00313***	-0.00206***	-0.00197***	0.00310***	0.00281***	0.00310***	0.00310***	0.00303***	0.00314***	0.00288***	0.00210***	-0.00960***	-0.0180***	-0.00950***	-0.00839***	-0.0121***	-0.00933***	-0.0122***	-0.00962***	0.00322***	0.00397	0.00320***	0.00449***	4.46e-05	0.00387***	-0.00129***	-0.00132***	-0.0128***	-0.0220***	-0.0127***	-0.0129***	-0.0122***	-0.0132***	-0.0109***	-0.00830***	-0.0183***	-0.0221***	-0.0183***	-0.0165***	-0.0225***	-0.0180***	-0.0209***	-0.0160***	0.00557***	0.00939***	0.00550***	0.00699***	0.00176***	0.00615***	-0***	-0***	-0.0239***	-0.0315***	-0.0238***	-0.0235***	-0.0242***	-0.0242***	-0.0209***	-0.0160***
	(0.000204)	(0.00264)	(0.000205)	(0.000236)	(0.000429)	(6.92e-05)	(0.000120)	(0.000117)	(0.000294)	(0.00411)	(0.000293)	(0.000356)	(0.000536)	(7.86e-05)	(0.000285)	(0.000274)	(4.67e-05)	(0.000528)	(4.69e-05)	(5.54e-05)	(9.01e-05)	(1.55e-05)	(2.16e-05)	(2.11e-05)	(5.74e-06)	(6.93e-05)	(5.77e-06)	(6.87e-06)	(1.14e-05)	(2.00e-06)	(5.06e-06)	(4.96e-06)	(0.000201)	(0.00260)	(0.000202)	(0.000233)	(0.000422)	(6.83e-05)	(0.000118)	(0.000115)	(0.000292)	(0.00410)	(0.000291)	(0.000354)	(0.000534)	(7.85e-05)	(0.000284)	(0.000273)	(5.02e-05)	(0.000569)	(5.05e-05)	(5.95e-05)	(9.75e-05)	(1.66e-05)	(2.41e-05)	(2.34e-05)	(3.36e-05)	(0.000397)	(3.37e-05)	(3.91e-05)	(7.04e-05)	(1.39e-05)	(2.92e-05)	(2.79e-05)	(0.000300)	(0.00433)	(0.000301)	(0.000371)	(0.000595)	(0.000105)	(0.000309)	(0.000290)	(0.000115)	(0.00161)	(0.000115)	(0.000139)	(0.000227)	(4.36e-05)	(0.000105)	(0.000237)	(0.000360)	(0.00442)	(0.000360)	(0.000427)	(0.000679)	(8.15e-05)	(0.000352)	(0.000375)	(0.000206)	(0.00241)	(0.000207)	(0.000239)	(0.000441)	(6.47e-05)	(0.000105)	(0.000237)	(0.000313)	(0.00424)	(0.000314)	(0.000381)	(0.000599)	(0.000101)	(0.000279)	(0.000260)	(0.000114)	(0.00142)	(0.000115)	(0.000138)	(0.000211)	(3.85e-05)	(8.70e-05)	(8.27e-05)	(0.000306)	(0.00392)	(0.000305)	(0.000363)	(0.000582)	(7.11e-05)	(0.000293)	(0.000282)	(0.000316)	(0.00416)	(0.000318)	(0.000384)	(0.000599)	(0.000104)	(0.000272)	(0.000255)	(0.000310)	(0.00406)	(0.000312)	(0.000375)	(0.000586)	(0.000102)	(0.000268)	(0.000252)	(3.38e-05)	(0.000408)	(3.40e-05)	(4.00e-05)	(6.76e-05)	(1.11e-05)	(1.60e-05)	(1.58e-05)	(1.28e-05)	(0.000162)	(1.28e-05)	(1.52e-05)	(2.50e-05)	(3.44e-06)	(1.23e-05)	(1.18e-05)	(3.47e-05)	(0.000397)	(3.49e-05)	(4.10e-05)	(6.76e-05)	(1.12e-05)	(1.57e-05)	(1.53e-05)	(5.89e-06)	(7.09e-05)	(5.93e-06)	(7.06e-06)	(1.17e-05)	(2.06e-06)	(5.19e-06)	(5.08e-06)	(3.22e-05)	(0.000391)	(3.24e-05)	(3.81e-05)	(6.46e-05)	(1.05e-05)	(1.51e-05)	(1.49e-05)	(1.25e-05)	(0.000159)	(1.25e-05)	(1.47e-05)	(2.44e-05)	(3.35e-06)	(1.20e-05)	(1.15e-05)	(3.65e-05)	(0.000420)	(3.67e-05)	(4.30e-05)	(7.17e-05)	(1.18e-05)	(1.71e-05)	(1.67e-05)	(4.68e-05)	(0.000645)	(4.70e-05)	(5.73e-05)	(8.66e-05)	(1.63e-05)	(3.91e-05)	(3.61e-05)	(6.57e-05)	(0.000812)	(6.59e-05)	(7.87e-05)	(0.000122)	(2.02e-05)	(4.95e-05)	(4.69e-05)	(4.93e-05)	(0.000548)	(4.93e-05)	(5.92e-05)	(9.02e-05)	(1.39e-05)	(4.69e-05)	(4.46e-05)	(0.000333)	(0.00479)	(0.000332)	(0.000402)	(0.000644)	(9.01e-05)	(0.000324)	(0.000313)	(0.000243)	(0.00306)	(0.000245)	(0.000282)	(0.000506)	(7.97e-05)	(0.000129)	(0.000126)	(0.000316)	(0.00432)	(0.000315)	(0.000381)	(0.000576)	(8.62e-05)	(0.000294)	(0.000282)	(0.000346)	(0.00464)	(0.000346)	(0.000419)	(0.000681)	(7.51e-05)	(0.000346)	(0.000333)	(0.000247)	(0.00305)	(0.000249)	(0.000290)	(0.000518)	(7.97e-05)	(0)	(0)	(0.000385)	(0.00468)	(0.000385)	(0.000457)	(0.000726)	(9.23e-05)	(0.000346)	(0.000333)
																																																																																																																																																																																																																																																																								
Observations	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414	209,414	3,021	206,317	148,237	61,177	205,289	209,414	209,414
R-squared	0.427	0.487	0.427	0.443	0.396	0.495	0.764	0.764	0.168	0.229	0.169	0.182	0.140	0.276	0.192	0.170	0.490	0.573	0.490	0.504	0.456	0.552	0.872	0.872	0.311	0.430	0.310	0.326	0.290	0.438	0.433	0.423	0.423	0.483	0.423	0.440	0.392	0.491	0.761	0.761	0.161	0.223	0.162	0.175	0.134	0.270	0.183	0.161	0.496	0.578	0.495	0.510	0.460	0.558	0.866	0.865	0.619	0.632	0.620	0.622	0.619	0.671	0.694	0.694	0.017	0.140	0.017	0.017	0.031	0.071	0.042	0.018	0.819	0.883	0.817	0.816	0.828	0.829	0.894	0.742	0.052	0.163	0.051	0.049	0.074	0.160	0.063	0.033	0.089	0.224	0.088	0.086	0.109	0.183	0.651	0.147	0.063	0.122	0.064	0.065	0.066	0.110	0.270	0.240	0.299	0.369	0.299	0.310	0.273	0.350	0.543	0.543	0.333	0.396	0.334	0.347	0.304	0.408	0.363	0.300	0.165	0.199	0.166	0.171	0.156	0.209	0.316	0.315	0.172	0.203	0.174	0.178	0.163	0.216	0.312	0.312	0.470	0.548	0.470	0.486	0.430	0.535	0.869	0.869	0.216	0.280	0.217	0.234	0.181	0.322	0.253	0.229	0.503	0.578	0.503	0.519	0.465	0.564	0.885	0.885	0.310	0.430	0.309	0.325	0.290	0.437	0.432	0.422	0.470	0.545	0.469	0.486	0.430	0.535	0.872	0.872	0.207	0.269	0.208	0.225	0.172	0.313	0.241	0.217	0.509	0.582	0.509	0.525	0.470	0.570	0.877	0.877	0.093	0.164	0.094	0.096	0.093	0.144	0.363	0.330	0.318	0.384	0.319	0.328	0.296	0.368	0.558	0.558	0.339	0.406	0.339	0.352	0.310	0.406	0.370	0.309	0.059	0.142	0.060	0.055	0.088	0.173	0.167	0.150	0.457	0.516	0.457	0.475	0.420	0.523	0.818	0.818	0.243	0.286	0.244	0.259	0.208	0.343	0.308	0.290	0.030	0.117	0.030	0.032	0.037	0.121	0.137	0.078	0.551	0.625	0.550	0.569	0.506	0.593	1.000	1.000	0.385	0.437	0.386	0.401	0.348	0.452	0.475	0.439
Estimator	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,	,
,	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)	)
# of Clusters	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316	19316	1054	19051	15423	6083	16907	19316	19316
Robust standard errors in parentheses																																																																																																																																																																																																																																																																								
*** p<0.01, ** p<0.05, * p<0.1																																																																																																																																																																																																																																																																								
