VARIABLES

(1)

(2)

(3)

ln_fep

ln_cpi

ln_fes

c. inst #c. ext

0.393***

0.278***

0.278***

(0.0357)

(0.0108)

(0.0103)

Constant

4.349***

9.201***

9.354***

(0.158)

(0.0479)

(0.0453)

Control variables

be

be

be

Observations

9017

8191

9016