Dependent Variable: Δ Capital-Labour Ratio | Dependent Variable: Δ VA-Labour Ratio | |||||
All Firms | 10 - 90 percentile Firms | 20 - 80 percentile Firms | All Firms | 10 - 90 percentile Firms | 20 - 80 percentile Firms | |
Explanatory Variables | Coefficient (S.E.) | Coefficient (S.E.) | Coefficient (S.E.) | Coefficient (S.E.) | Coefficient (S.E.) | Coefficient (S.E.) |
Capital-Labour ratio at period t − 1 | −0.63*** (0.07) | −0.63*** (0.05) | −0.69*** (0.05) |
| ||
Value added per labour ratio at period t − 1 | −0.54*** (0.06) | −0.61*** (0.05) | −0.69*** (0.11) | |||
Model Properties | ||||||
Number of observations | 1120 | 1120 | 1120 | 1120 | 1120 | 1120 |
R-squared | 0.42 | 0.40 | 0.42 | 0.33 | 0.36 | 0.40 |
Root MSE | 0.29 | 0.30 | 0.36 | 0.21 | 0.20 | 0.22 |