Total

First spell

Second spell

Third spell

Personal Income

−1.694

−11.980^**

−9.710^***

2.736

(2.295)

(5.220)

(5.457)

(9.867)

Population

−4.7E−08

0.000

−6.7E−08

5.3E−08

(3.6E−08)

(0.000)

(5.6E−08)

(3.8E−07)

Interest Rate

0.008^*

0.012^**

0.009^*

0.012^**

(0.002)

(0.005)

(0.002)

(0.005)

Second Period

−0.379

0.145

−1.372^**

−0.351

(0.291)

(0.394)

(0.587)

(0.937)

Third Period

−0.754^**

−0.552

−1.144^**

−0.109

(0.327)

(0.471)

(0.544)

(0.842)

Fourth Period

−0.832^**

−0.335

−1.992^*

0.232

(0.343)

(0.464)

(0.772)

(0.785)

Fifth Period

−0.335

0.696^***

−30.235

−2.025

(0.307)

(0.404)

(900004)

(1.303)

Sixth Period

0.063

1.202^*

−1.977^*

−0.419

(0.296)

(0.430)

(0.780)

(0.944)

Seventh Period

0.730^*

1.204^**

−0.292

2.189^*

(0.278)

(0.508)

(0.457)

(0.747)

Eighth Period

−0.714^***

0.651

−1.552^**

−0.424

(0.416)

(0.667)

(0.637)

(1.298)

Ninth Period

0.281

−30.728

0.275

0.733

(0.338)

(2525436)

(0.435)

(0.995)

Tenth Period

0.327

−0.316

0.341

−28.985

(0.373)

(0.929)

(0.469)

(1812799)

Eleventh Period

−0.266

0.304

−0.446

0.287

(0.481)

(0.890)

(0.612)

(1.354)