Method | Model |
Θ
Region
| R2
|
N
|
---|
Panel SUR | Difference | −0.015**
(−6.07) | 0.15 | 448 |
GAP (HP) | −0.063**
(−5.35) | 0.16 | 463 |
GAP (BK) | −0.010**
(−4.98) | 0.09 | 395 |
GAP (QT) | −0.079**
(−7.52) | 0.17 | 463 |
-
Θ
Region represents the slope that measures the total effects of \(Y^{*}\) on \(U^{*}\)
HP, BK and QT refer to Hodrick-Prescott, the Baxter and King and the quadratic trend filters
-
** indicates 99 % confidence levels respectively