Table 5 Benchmark regression.
(1) | (2) | (3) | (4) | |
|---|---|---|---|---|
ULGUE | ULGUE | ULGUE | ULGUE | |
CCC | 0.206*** | 0.425*** | 0.048*** | 0.044*** |
(0.019) | (0.016) | (0.017) | (0.017) | |
Controls | NO | NO | NO | YES |
_cons | −1.471*** | −1.541*** | −1.421*** | −3.046*** |
(0.011) | (0.007) | (0.007) | (0.467) | |
Year fixed effect | NO | NO | YES | YES |
City fixed effect | NO | YES | YES | YES |
N | 3408 | 3408 | 3408 | 3408 |
Adj. R2 | 0.033 | 0.635 | 0.750 | 0.755 |