lnrz_1

−0.0318***

(0.0098)

lnjrdk

−0.0247

(0.0234)

Total effect

logpolicy1

0.2592

−0.0354

(0.2009)

(0.1608)

logpolicy2

0.0850

0.5431*

(0.2248)

(0.2927)

lnrz_1

−0.0299***

(0.0099)

lnjrdk

−0.0125

(0.0233)

N

3012

3012

3012

3012

3012

3012

R2

0.410

0.410

0.410

0.410

0.410

0.410