Panel regression estimates for expenditures on the unemployment function as an independent variable
| Model 21 | Model 22 | Model 23 | Model 24 | |
|---|---|---|---|---|
| Dependent variable | lnFIEBinTE | lnFIEBinFE | lnFIECinTE | llFIECinFE |
| constant | 0.049 (1.425) | 1.529 (1.206) | −1.724 (1.739) | −0.271 (1.432) |
| Independent variable | ||||
| lnU | 0.081 (0.052) | 0.035 (0.044) | 0.132* (0.064) | 0.115* (0.053) |
| Control variables | ||||
| lnGini | 0.697 (0.367) | 0.379 (0.319) | 1.177* (0.467) | 0.935* (0.385) |
| lnGE | −0.265 (0.222) | −0.057 (0.189) | −0.285 (0.251) | −0.149 (0.207) |
| lnFU | −0.139* (0.055) | −0.128** (0.046) | −0.177** (0.066) | −0.175** (0.054) |
| Fit statistics of models | ||||
| Breusch-Pagan test | χ2 (1) = 1171.76 p = 0 | χ2 (1) = 1195.41 p = 0 | χ2 (1) = 1230.56 p = 0 | χ2 (1) = 1220.77 p = 0 |
| Hausman test | χ2 (4) = 8.608 p = 0.072 | χ2 (4) = 9.980 p = 0.040 | χ2 (4) = 10.686 p = 0.030 | χ2 (4) = 13.932 p = 0.007 |
| Effects | random | fixed | Fixed | fixed |
| No. of countries | 24 | 24 | 21 | 21 |
| No. of observations | 362 | 362 | 294 | 294 |
| F | F(4, 334) = 2.147 p = 0.075 | F(4, 269) = 3.572 p = 0.007 | F(4, 269) = 4.199 p = 0.003 | |
| χ2 | χ2(4) = 10.473 p = 0.033 | |||
| LSDV R2 | 0.923 | 0.891 | 0.923 | |
| Within R2 | 0.025 | 0.050 | 0.059 | |
| “Between” variance | 0.566 | |||
| “Within” variance | 0.075 | |||
| Model 21 | Model 22 | Model 23 | Model 24 | |
|---|---|---|---|---|
| Dependent variable | lnFIEBinTE | lnFIEBinFE | lnFIECinTE | llFIECinFE |
| constant | 0.049 (1.425) | 1.529 (1.206) | −1.724 (1.739) | −0.271 (1.432) |
| lnU | 0.081 (0.052) | 0.035 (0.044) | 0.132* (0.064) | 0.115* (0.053) |
| lnGini | 0.697 (0.367) | 0.379 (0.319) | 1.177* (0.467) | 0.935* (0.385) |
| lnGE | −0.265 (0.222) | −0.057 (0.189) | −0.285 (0.251) | −0.149 (0.207) |
| lnFU | −0.139* (0.055) | −0.128** (0.046) | −0.177** (0.066) | −0.175** (0.054) |
| Breusch-Pagan test | ||||
| Hausman test | ||||
| Effects | random | fixed | Fixed | fixed |
| No. of countries | 24 | 24 | 21 | 21 |
| No. of observations | 362 | 362 | 294 | 294 |
| F | F(4, 334) = 2.147 | F(4, 269) = 3.572 | F(4, 269) = 4.199 | |
| LSDV | 0.923 | 0.891 | 0.923 | |
| Within | 0.025 | 0.050 | 0.059 | |
| “Between” variance | 0.566 | |||
| “Within” variance | 0.075 | |||
Note(s): Standard errors in parentheses, ***p < 0.001; **p < 0.01; *p < 0.05
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