ip

(1)

(2)

(3)

(4)

er

−0.341***

(0.046)

−0.321***

(0.046)

−0.318***

(0.045)

−0.257***

(0.048)

rii

−2.987***

(0.541)

−2.965***

(0.541)

−2.911***

(0.539)

−2.678***

(0.542)

er*rii

11.939***

(1.703)

11.221***

(1.669)

11.149***

(1.657)

8.938***

(1.752)

ppi

0.791

(0.597)

0.685

(0.592)

0.068

(0.588)

mc

0.644*

(0.341)

0.569*

(0.236)

y

0.281***

(0.096)

Time

control

control

control

control

Product

control

control

control

control