| Total | First spell | Second spell | Third spell |
Personal Income | 26.148* | 29.051* | 31.913* | 2.925 |
(3.419) | (5.113) | (6.743) | (11.910) | |
Population | −1.1E−08 | 1.4E−07** | −8.8E−08 | −3.6E−07 |
(3.7E−08) | (6.5E−08) | (5.9E−08) | (4.6E−07) | |
Interest Rate | −0.013* | −0.026* | −0.008 | 0.024** |
(0.004) | (0.006) | (0.006) | (0.012) | |
Second Period | 1.263* | 1.198** | 1.577* | −0.040 |
(0.305) | (0.568) | (0.465) | (0.720) | |
Third Period | 1.098* | 1.620* | 0.661 | −0.129 |
(0.325) | (0.564) | (0.580) | (0.779) | |
Fourth Period | 0.944* | 1.568* | 0.407 | −0.869 |
(0.351) | (0.580) | (0.671) | (1.166) | |
Fifth Period | 1.081* | 1.094*** | 0.928 | 2.489 |
(0.349) | (0.607) | (0.591) | (0.900) | |
Sixth Period | 1.335* | 2.133* | 0.842 | 1.166 |
(0.364) | (0.606) | (0.611) | (1.404) | |
Seventh Period | 1.688* | 1.745** | 2.073* | 1.208 |
(0.389) | (0.709) | (0.592) | (1.651) | |
Eighth Period | 1.896* | 2.304* | 2.057* | −28.497 |
(0.427) | (0.725) | (0.676) | (2329017) | |
Ninth Period | 2.826* | 3.147* | 3.326* | - |
(0.461) | (0.704) | (0.874) | - | |
Tenth Period | 1.293*** | 1.914** | 1.187 | - |
(0.727) | (0.969) | (1.381) | - | |
Eleventh Period | 2.016* | 2.623* | 2.128 | - |
(0.722) | (0.917) | (1.601) | - | |
Twelfth Period | 2.866* | 3.924* | −25.722 | - |
(0.960) | (1.275) | (1708642) | - | |
Thirteenth Period | 2.377*** | - | −26.303 | - |
(1.445) | - | (1708642) | - | |
Fourteenth Period | −28.082 | - | −27.155 | - |
(2720641) | - | (1708642) | - | |
Constant | −3.084* | −3.903* | −3.012* | −1.018 |
(0.281) | (0.533) | (0.460) | (0.734) | |
Observation | 1057 | 549 | 403 | 90 |
Log Likelihood | −480.876 | −224.068 | −170.641 | −44.929 |