Equation

Intercept

Per Capita Personal Income (t-statistic)

Per Capita Personal Income Squared (t-statistic)

Unemployment Rate (t-statistic)

Number of Counties (t-statistic)

Adjusted R²

Durbin-Watson

OLS

(4)

0.147326

(38.43)*

0.001376

(15.48)*

−0.000962

(−1.77)⁺

0.0965

0.0929

(5)

0.145674

(31.00)*

0.001569

(4.76)*

−0.000004

(−0.60)

−0.000952

(−1.75)⁺

0.0962

0.0933

(6)

0.117476

(25.79)*

0.001236

(4.06)*

0.000005

(0.85)

−0.000810

(−1.61)

0.000467

(19.99)*

0.2324

0.1046

Random Effects

(4)

0.159801

(22.38)*

0.001358

(34.92)*

−0.003022

(−11.24)*

0.0911

0.0489

(5)

0.155054

(21.39)*

0.001892

(13.24)*

−0.000011

(−3.88)*

−0.002949

(−10.98)*

0.0906

0.0491

(6)

0.126891

(12.02)*

0.001880

(13.16)*

−0.000011

(−3.83)*

−0.002927

(−10.90)*

0.000458

(3.42)*

0.2226

0.0573

Serial Correlation

(4)

0.163627

(21.10)*

0.000879

(15.01)*

−0.001901

(−6.60)*

0.9216

2.1415

(5)

0.185917

(21.71)*

−0.001979

(−6.15)*

0.000056

(9.03)*

−0.001429

(−4.97)*

0.9245

2.1108

(6)

0.157345

(19.55)*

−0.002251

(−7.25)*

0.000061

(10.19)*

−0.001194

(−4.31)*

0.000487

(13.47)*

0.9301

2.1113