(1)

(2)

(3)

(4)

(5)

(6)

imup

imdown

im

imup_fe

imdown_fe

im_fe

openness

0.457***

−0.472***

0.059

0.372

−0.444**

−0.053

(0.164)

(0.173)

(0.158)

(0.243)

(0.209)

(0.194)

hhsize

0.062**

−0.016

0.041*

−0.067

−0.052

−0.085**

(0.026)

(0.026)

(0.025)

(0.048)

(0.041)

(0.038)

edu_f

−0.158***

0.116***

−0.025

−0.102**

0.102***

0.037

(0.025)

(0.023)

(0.022)

(0.043)

(0.036)

(0.034)

age

0.115***

−0.100***

−0.001

0.155**

−0.095

0.004

(0.031)

(0.029)

(0.028)

(0.073)

(0.061)

(0.057)

age2

−0.001***

0.001**

−0.0002

−0.002**

0.002

−0.00002

(0.0004)

(0.0004)

(0.0004)

(0.001)

(0.001)

(0.001)

age_f

−0.032

−0.105**

−0.121***

−0.043

0.004

−0.045

(0.043)

(0.041)

(0.041)

(0.093)

(0.080)

(0.075)

age_f2

0.0003

0.001***

0.001***

0.001

−0.0002

0.0004

(0.0004)

(0.0003)

(0.0003)

(0.001)

(0.001)

(0.001)

edu

29.051

−103.086**

−58.563

−5.833

−1.580

7.710

(39.526)

(41.346)

(38.704)

(60.866)

(48.372)

(46.208)

industry

−0.058

0.392

0.280

1.523

−0.192

1.105

(0.761)

(0.727)

(0.683)

(1.999)

(1.592)

(1.528)

Constant

−2.267**

4.533***

3.447***

−2.816

1.731

1.372

(1.136)

(1.093)

(1.072)

(2.307)

(1.959)

(1.842)

Obs.

1766

1766

1766

764

764

764