(1)

(2)

(3)

(4)

(5)

(6)

imup

imdown

im

imup_fe

imdown_fe

im_fe

openness

0.154***

−0.042

0.113**

0.159***

−0.162**

−0.003

(0.047)

(0.048)

(0.052)

(0.054)

(0.067)

(0.073)

hhsize

0.019**

−0.007

0.012

−0.023**

−0.009

−0.032**

(0.008)

(0.009)

(0.009)

(0.010)

(0.013)

(0.014)

edu_f

−0.046***

0.038***

−0.008

−0.017*

0.034***

0.016

(0.007)

(0.008)

(0.008)

(0.010)

(0.012)

(0.013)

age

0.037***

−0.037***

−0.0004

0.039**

−0.038*

0.001

(0.009)

(0.010)

(0.011)

(0.016)

(0.020)

(0.022)

age2

−0.0005***

0.0004***

−0.0001

−0.001**

0.001

−0.00000

(0.0001)

(0.0001)

(0.0002)

(0.0003)

(0.0004)

(0.0004)

age_f

−0.012

−0.028**

−0.040***

−0.012

−0.003

−0.015

(0.013)

(0.014)

(0.015)

(0.022)

(0.027)

(0.029)

age_f2

0.0001

0.0002**

0.0004***

0.0002

−0.00003

0.0001

(0.0001)

(0.0001)

(0.0001)

(0.0002)

(0.0002)

(0.0003)

edu

12.950*

12.915*

25.865***

1.984

3.365

5.349

(7.508)

(7.665)

(8.412)

(13.342)

(16.670)

(18.149)

industry

−0.270

0.365*

0.095

0.516

0.007

0.523

(0.202)

(0.206)

(0.226)

(0.440)

(0.549)

(0.598)

Constant

−0.093

1.659***

1.566***

−0.263

1.178*

0.915

(0.345)

(0.352)

(0.387)

(0.524)

(0.654)

(0.712)

Obs.

1766

1766

1766

764

764

764

R²

0.093

0.063

0.018

0.092

0.073

0.016