Variable Codes

ln_y

ln_VB

ln_y

Se

0.095***

(0.015)

0.463***

(0.083)

0.077***

(0.015)

VB

0.038***

(0.011)

Control variables

Control

Control

Control

0.131

0.105

0.171

F

40.220

31.110

27.380