| USA and EU market (2007-2009) | EU market (2007-2010) | ||
OLS FE 1 | Tobit RE 2 | OLS FE 3 | Tobit RE 4 | |
MD*post 2009 | −0.1381 (0.1871) | −0.4632** (0.2352) | −0.3730* (0.2191) | −0.6451** (0.2910) |
yr2007 | −0.1062** (0.0541) | −0.1321** (0.0662) | −0.1563** (0.0691) | −0.1880** (0.0830) |
yr2009 | −0.0121 (0.0562) | 0.0243 (0.0641) | 0.1424 (0.0623) | 0.1910*** (0.0701) |
yr2010 |
|
| 0.2761*** (0.0701) | 0.3490*** (0.0820) |
_cons | −3.6381*** (0.0310) | −4.4112*** (0.1621) | −3.2873*** (0.0432) | −3.8340*** (0.1821) |
Fixed/Random effect | vanilla*country *market | vanilla*country *market | vanilla*country | vanilla*country *market |
Marginal effect of political crisis | −12.90% | −33.82% | −31.11% | −45.33% |
R2 | 0.0009 |
| 0.0090 |
|
Log likelihood |
| −20164.571 |
| −13215.270 |
N | 8283 | 8283 | 5732 | 5732 |