Table 8 Robust estimates of unemployment...

Table 8

Robust estimates of unemployment for the income-wise segregated countries

	Low income	Lower middle income	Upper middle income	High income
CS-DL
TFP	−10.326* [5.832]	−2.298*** [0.134]	−1.394* [0.204]	−5.104*** [1.837]
(TFP)²	4.510** [0.936]	1.483** [0.019]	1.825** [0.158]	7.917* [1.389]
GLOB	−0.789*** [0.186]	0.611* [0.178]	0.171 [0.467]	0.502** [0.054]
EU	−0.436 [0.301]	−0.891*** [0.082]	−0.752*** [0.264]	−0.487* [0.276]
POP	0.914 [0.322]	0.648 [0.197]	0.836** [0.377]	0.644 [0.586]
STR	−4.2463** [0.695]	−1.384* [0.334]	1.631*** [0.196]	0.308* [0.166]
Shape of curve	U-shaped	U-shaped	U-shaped	U-shaped
Turnaround point	3.14	2.17	1.47	1.38
Observations	140	696	812	1,247
R²	0.77	0.84	0.83	0.86
Common correlated effect-augmented GMM
TFP	−5.126*** [0.146]	−2.016* [0.817]	−1.763** [0.849]	−1.114*** [0.395]
(TFP)²	2.111*** [0.497]	0.986** [0.127]	1.318*** [0.059]	1.923*** [0.207]
GLOB	−0.729*** [0.057]	−2.547** [0.169]	1.914** [0.766]	2.055** [0.138]
EU	−4.107* [1.862]	−0.648*** [0.074]	−0.764* [0.180]	−1.046*** [0.078]
POP	1.137 [0.749]	1.234** [0.177]	0.533 [0.812]	1.966* [0.884]
STR	−3.530* [0.652]	−0.671 [0.906]	1.534** [0.108]	1.453** [0.323]
Shape of curve	U-shaped	U-shaped	U-shaped	U-shaped
Turnaround point	3.37	2.78	1.95	1.34
Observations	130	624	728	1,118
Wald chi²	9.83**	18.80***	33.30***	18.28***
Hansen-J p-value	0.342	0.769	0.472	0.255
Wooldridge p-value	0.745	0.677	0.246	0.329

	Low income	Lower middle income	Upper middle income	High income
CS-DL
TFP	−10.326* [5.832]	−2.298*** [0.134]	−1.394* [0.204]	−5.104*** [1.837]
(TFP)²	4.510** [0.936]	1.483** [0.019]	1.825** [0.158]	7.917* [1.389]
GLOB	−0.789*** [0.186]	0.611* [0.178]	0.171 [0.467]	0.502** [0.054]
EU	−0.436 [0.301]	−0.891*** [0.082]	−0.752*** [0.264]	−0.487* [0.276]
POP	0.914 [0.322]	0.648 [0.197]	0.836** [0.377]	0.644 [0.586]
STR	−4.2463** [0.695]	−1.384* [0.334]	1.631*** [0.196]	0.308* [0.166]
Shape of curve	U-shaped	U-shaped	U-shaped	U-shaped
Turnaround point	3.14	2.17	1.47	1.38
Observations	140	696	812	1,247
R²	0.77	0.84	0.83	0.86
Common correlated effect-augmented GMM
TFP	−5.126*** [0.146]	−2.016* [0.817]	−1.763** [0.849]	−1.114*** [0.395]
(TFP)²	2.111*** [0.497]	0.986** [0.127]	1.318*** [0.059]	1.923*** [0.207]
GLOB	−0.729*** [0.057]	−2.547** [0.169]	1.914** [0.766]	2.055** [0.138]
EU	−4.107* [1.862]	−0.648*** [0.074]	−0.764* [0.180]	−1.046*** [0.078]
POP	1.137 [0.749]	1.234** [0.177]	0.533 [0.812]	1.966* [0.884]
STR	−3.530* [0.652]	−0.671 [0.906]	1.534** [0.108]	1.453** [0.323]
Shape of curve	U-shaped	U-shaped	U-shaped	U-shaped
Turnaround point	3.37	2.78	1.95	1.34
Observations	130	624	728	1,118
Wald chi²	9.83**	18.80***	33.30***	18.28***
Hansen-J p-value	0.342	0.769	0.472	0.255
Wooldridge p-value	0.745	0.677	0.246	0.329

Note(s): Standard errors are within parentheses [], ***signifies p-value < 0.01, **0.01 ≤ p-value < 0.05, *0.05 ≤ p-value < 0.10

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