Table 4 Panel regressions on wages
From: Can reference points explain wage rigidity? Experimental evidence
(1) | (2) | (3) | (4) | |
|---|---|---|---|---|
RE | RE | RE | FE | |
CasRP-dummy | 0.257 | \(-\) 1.659 | \(-\)3.285\(*\) | |
(4.046) | (4.138) | (1.913) | ||
CasRP-F-dummy | 1.388 | \(-\) 0.834 | \(-\)3.347 | |
(3.408) | (3.825) | (2.104) | ||
WasRP-dummy | 3.000 | 1.159 | \(-\)1.471 | |
(4.420) | (4.453) | (1.818) | ||
Recession-dummy | \(-\) 6.832\(***\) | \(-\)11.51\(***\) | \(-\) 10.65\(***\) | \(-\)11.11\(***\) |
(1.135) | (1.550) | (2.002) | (1.759) | |
Rec \(\times\) CasRP | 5.822\(***\) | 6.985\(***\) | 5.879\(**\) | |
(2.250) | (2.477) | (2.413) | ||
Rec \(\times\) CasRP-F | 7.051\(**\) | 8.287\(**\) | 7.340\(*\) | |
(3.247) | (3.879) | (3.634) | ||
Rec \(\times\) WasRP | 5.307\(**\) | 6.073\(**\) | 5.251\(**\) | |
(2.153) | (2.362) | (2.176) | ||
\(\hbox {Wage}_{t-1}\) (No-Rec) | 0.438\(***\) | 0.0885\(***\) | ||
(0.0529) | (0.0289) | |||
\(\hbox {Wage}_{t-1}\) (Rec) | 0.561\(***\) | 0.145\(***\) | ||
(0.0677) | (0.0383) | |||
\(\hbox {Effort}_{t-1}\) (No-Rec) | 1.723\(***\) | 1.148\(***\) | ||
(0.203) | (0.147) | |||
\(\hbox {Effort}_{t-1}\) (Rec) | 0.756\(*\) | 0.633\(**\) | ||
(0.408) | (0.241) | |||
First wage | 0.0838\(**\) | |||
(0.0271) | ||||
Period & Period\(^2\) | \(\checkmark\) | \(\checkmark\) | \(\checkmark\) | \(\checkmark\) |
Constant | 57.83\(***\) | 59.46\(***\) | 23.98\(***\) | 49.13\(***\) |
(3.280) | (3.343) | (3.854) | (2.274) | |
Observations | 2858 | 2858 | 2696 | 2696 |
R\(^2\) | 0.0329 | 0.0384 | 0.0984 | 0.120 |