Panel A | Left-censored Tobit | FE | Diff-GMM |
SOA | 20.2% | 31.8% | 46.7% |
SOA-Macroeconomic Recessions | 28.7% | 37.2% | 49.6% |
Panel B | Left-censored Tobit | FE | Diff-GMM |
SOA | 17% | 28.9% | 44.0% |
SOA-Shipping Recessions | 29.8% | 46.8% | 60.3% |