Table 3 Estimation results of the effects of urbanization on excess mortgage risk.
From: Urbanization and the excess mortgage risk – an optimal mortgage model
Variables | (1) | (2) | (3) |
|---|---|---|---|
\({\left(\frac{{EK}}{Y}\right)}_{{it}}\) | \({p}_{{it}}\) | \({\left(\frac{{EK}}{Y}\right)}_{{it}}\) | |
Urbanizationit | 1.2389*** (0.1607) | 1.4616*** (0.0612) | 0.7453*** (0.1624) |
pit | 0.3377*** (0.0716) | ||
iit | −0.0652*** (0.0078) | −0.0873*** (0.0022) | −0.0357*** (0.0101) |
hit | 0.0767*** (0.0223) | 0.0015 (0.0052) | 0.0762*** (0.0222) |
rpit | −0.1812*** (0.0180) | 0.4989*** (0.0065) | −0.3497*** (0.0438) |
Const. | 0.9178*** (0.1514) | 4.6728*** (0.0319) | −0.6600* (0.3663) |
R2 | 0.0641 | 0.9491 | 0.0707 |
Observations | 3900 | 3900 | 3900 |
No. of provinces | 25 | 25 | 25 |
Hausman Test | 27.58 [0.0000] | 386.37 [0.0000] | 26.83 [0.0000] |
