|
| First-round Estimates | Second-round Estimates |
| 1/(σ + τ) | 0.099 (0.024) | 0.099 (0.024) |
| country dummy |
|
|
| 1) Australia | 0.047 (0.009) | 0.042 (0.01) |
| 2) Austria | −0.048 (0.017) | −0.049 (0.017) |
| 3) Canada | −0.005 (0.01) | −0.009 (0.01) |
| 4) Finland | −0.001 (0.004) | −0.008 (0.005) |
| 5) Norway | 0.032 (0.016) | 0.034 (0.016) |
| 6) Spain | −0.062 (0.023) | −0.07 (0.024) |
| 7) Turkey | −0.026 (0.064) | −0.037 (0.066) |
| 8) USA | 0 | 0 |
| Constant | 1.151 (0.293) | 1.158 (0.294) |
| Adj. R2 | 0.75 | 0.75 |