| Regressions | ||||
Regressors | 1 | 2 | 3 | 4 | 5 |
Constant | ?2.3 (0.84) | ?5.2*** (1.8) | 0.25 (0.08) | ?4.4* (3.2) | ?2.9 (1.03) |
D(ER) | 0.102* (3.93) | 0.115* (3.9) | 0.086* (3.34) | 0.13 (1.19) | 0.102* (3.9) |
INF | ?0.238* (3.08) | ?0.143 (1.65) | ?0.232* (3.31) | ?0.03 (0.26) | ?0.17** (2.15) |
COM | 0.663* (3.05) | 0.484** (2.1) | 0.532* (2.95) | 0.083 (0.89) | 0.566** (2.45) |
INV | 0.18** (2.38) | 0.239* (3.94) | 0.162** (2.14) | 0.532* (4.6) | 0.195* (2.69) |
D(EL) | ?0.004 (0.35) | 0.015 (0.89) | ?0.007 (0.48) |
| ?0.002 (0.18) |
G | 0.37** (2.44) | 0.487* (3.51) | 0.303*** (1.92) | 0.548* (5.1) | 0.426* (2.94) |
FU | ?0.014 (0.28) | ?0.034 (0.66) | ?0.02 (0.42) | 0.11 (1.03) | ?0.03 (0.68) |
TC | 0.126 (0.8) |
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BA |
| ?0.736* (2.93) |
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MA |
|
| 0.185*** (1.68) |
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PHD |
|
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| 0.152*** (1.86) |
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HE |
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|
|
| ?0.24 (1.03) |
Adjusted R-squared | 0.995 | 0.996 | 0.995 | 0.76 | 0.995 |
F-Statistic | 1053.9* | 1304.4* | 991.9* | 89.7* | 1108.04* |