Two-stage regression
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| DF | FC | DF | FC | |
| DF | −0.0144** | −0.0428*** | ||
| (−2.0243) | (−3.0638) | |||
| MeanIV | 0.8722*** | |||
| (21.1551) | ||||
| BartikIV | 0.1674*** | |||
| (11.8032) | ||||
| Kleibergen-Paap rk LM statistic | 107.203*** | 127.650*** | ||
| Cragg-Donald Wald F statistic | 8510.557 | 493.730 | ||
| {16.380} | {16.380} | |||
| Kleibergen-Paap rk Wald F statistic | 447.698 | 139.366 | ||
| {16.380} | {16.380} | |||
| Controls | Yes | Yes | Yes | Yes |
| Year/city fixed | Yes | Yes | Yes | Yes |
| N | 2,843 | 2,843 | 2,843 | 2,843 |
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| DF | FC | DF | FC | |
| DF | −0.0144** | −0.0428*** | ||
| (−2.0243) | (−3.0638) | |||
| MeanIV | 0.8722*** | |||
| (21.1551) | ||||
| BartikIV | 0.1674*** | |||
| (11.8032) | ||||
| Kleibergen-Paap rk LM statistic | 107.203*** | 127.650*** | ||
| Cragg-Donald Wald F statistic | 8510.557 | 493.730 | ||
| {16.380} | {16.380} | |||
| Kleibergen-Paap rk Wald F statistic | 447.698 | 139.366 | ||
| {16.380} | {16.380} | |||
| Controls | Yes | Yes | Yes | Yes |
| Year/city fixed | Yes | Yes | Yes | Yes |
| 2,843 | 2,843 | 2,843 | 2,843 | |
Note(s): { } indicates the Stock-Yogo weak ID test critical value at the 10% significance level. ** Significant at 5% confidence level, *** significant at the 1% confidence level
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