IZA Journal of European Labor Studies

Table 6 Labour force equations, 3 SLS

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

Dependent variable:l_t Spain, 1967-2009:		Ireland, 1974-2009:
	coefficient		coefficient
cnt.	0.71 [0.112]	cnt.	-2.20 [0.096]
l _t−1	0.92 [0.000]	l _t−1	0.60 [0.000]
		Δ l _t−2	0.21 [0.104]
w _t	0.04 [0.053]	w _t	0.13 [0.001]
Δ w _t	-0.13 [0.061]
z _t	0.32 [0.009]	p o _t	0.43 [0.012]
		u _t	-0.27 [0.001]
Δ u _t	-0.25 [0.000]	Δ u _t	0.28 [0.012]
r _t	0.14 [0.000]
$d_{t}^{00}$	0.01 [0.026]	$d_{t}^{96}$	0.03 [0.000]
${\bar{r}}^{2}$	0.999		0.996
s.e.	0.007		0.012
LL	159.12		113.71

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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