| Short | Short | Long | Long |
| (1) | (2) | (3) | (4) |
| lrinc | lwage | lrinc | lwage |
pmc | −0.036*** | −0.010 | −0.056*** | 0.021* |
| (0.013) | (0.008) | (0.017) | (0.012) |
Year fixed effect | Yes | Yes | Yes | Yes |
County fixed effect | Yes | Yes | Yes | Yes |
_cons | 7.475*** | 8.664*** | 7.475*** | 8.664*** |
| (0.005) | (0.004) | (0.005) | (0.004) |
N | 13404 | 13460 | 10722 | 10753 |
R2 | 0.924 | 0.902 | 0.933 | 0.957 |