Figure 4.
The image contains two line graphs titled (a) Patented Acres (Normalized) and (b) N Patents. Both graphs share the same x-axis labeled "Relative time to last period before treatment changes (t = 0)" with values ranging from -5 to 5, and the y-axis labeled "DID from t = 0 to t." Each graph displays data points connected by blue lines, with vertical error bars indicating variability. The graphs present data trends over time, comparing values before and after treatment changes at t = 0. The data is organized in two separate panels, with each graph offering distinct metrics while sharing the same overall structure. Bold titles identify each graph, with a horizontal dashed line intersecting the y-axis, representing a reference value.The effect of PA adoption on land settlement
Note(s): This figure presents the event study plots corresponding to our preferred specification in column 5 of Table 2, which presents estimates of the impact of statutory recognition of PA on differences land settlement using the estimator developed by De Chaisemartin and d’Haultfoeuille (2020) that is robust to dynamic treatment effects. Panel (a) presents results for normalized patented acres, and panel (b) presents results for total patent counts. Event study plots for other specifications from Table 2 can be found in Figures A2 and A3. (a) Patented acres (Normalized); and (b) N patents