| Explained variables | lnnumber | lnvc | lnvc | lnnumber | lnvc | lnnumber |
| Trade weighted | United States | China | ||||
| (1) | (2) | (3) | (4) | (5) | (6) | |
| EPU1 | −2.555*** | −4.700*** |
|
|
|
|
| (0.313) | (1.199) |
|
|
|
| |
| EPU2 |
|
| −1.686*** | −3.095*** |
|
|
|
|
| (0.068) | (0.267) |
|
| |
| L. EPU |
|
|
|
| −1.189*** | −3.000*** |
|
|
|
|
| (0.337) | (1.748) | |
| lnedu | 0.281* | −0.583 | 0.373* | −1.003 | 0.260 | −0.629 |
| (0.167) | (0.788) | (0.221) | (1.354) | (0.227) | (1.094) | |
| lnwage | 4.270*** | 10.051*** | 5.670*** | 12.271*** | 3.898*** | 10.364*** |
| (0.166) | (0.695) | (0.220) | (1.194) | (0.713) | (3.800) | |
| lnpop | 0.457*** | 0.131 | 0.607*** | 0.225 | 0.478 | −1.285 |
| (0.123) | (0.559) | (0.163) | (0.960) | (0.934) | (5.302) | |
| lngdp | 0.321*** | 3.022*** | 0.426*** | 5.195*** | −0.457 | 2.459 |
| (0.092) | (0.421) | (0.122) | (0.723) | (0.313) | (1.498) | |
| Observation | 2907 | 2907 | 2907 | 2907 | 2584 | 2584 |
| adj. R2 | 0.622 | 0.453 | 0. 622 | 0.453 | 0.559 | 0.37 |
| Provincial fixed effects | Yes | Yes | Yes | Yes | Yes | Yes |
| Industry fixed effects | Yes | Yes | Yes | Yes | Yes | Yes |
| Year fixed effects | Yes | Yes | Yes | Yes | Yes | Yes |