IZA Journal of European Labor Studies

Table 4 Labour demand equations, 3 SLS

From: More alike than different: the Spanish and Irish labour markets before and after the crisis

Dependent variable:n_t Spain, 1967-2009:		Ireland, 1974-2009:
	coefficient		coefficient
cnt.	2.27 [0.000]	cnt.	1.19 [0.010]
n _t−1	0.62 [0.000]	n_t−1	0.78 [0.000]
Δ n _t−1	0.28 [0.016]
w _t	-0.40 [0.000]	w_t	-0.12 [0.101]
k _t	0.26 [0.000]	k_t	0.13 [0.020]
Δ k _t	1.70 [0.000]	Δ k_t	1.53 [0.000]
		Δ k_t−1	-0.76 [0.001]
		τⁱ	-0.78 [0.010]
c _t	1.35 [0.000]
f d _t	0.69 [0.000]
Δf d _t	-0.48 [0.005]
${\bar{r}}^{2}$	0.997		0.996
s.e.	0.010		0.014
LL	143.01		105.70

Note: p-values in brackets; Δ is the difference operator; ${\bar{r}}^{2}$ the adjusted r-squared; s.e. the standard error of regression; and LL the log likelihood.

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