Pure Sample

With Outliers

%

Estimators

LY

LY

BIF

RD

0

coef.

0.55

0.55

0.54

0.53

(s.e.)

(0.19)

(0.19)

(0.16)

(0.22)

0.5

coef.

0.54

0.40

0.46

0.52

(s.e.)

(0.18)

(0.23)

(0.16)

(0.23)

5

coef.

0.53

0.11

0.22

0.54

(s.e.)

(0.14)

(0.56)

(0.41)

(0.18)

15

coef.

0.50

0.040

0.08

0.52

(s.e.)

(0.15)

(0.66)

(0.59)

(0.16)

25

coef.

0.50

0.02

0.05

0.51

(s.e.)

(0.14)

(0.67)

(0.64)

(0.16)