|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
---|
|
Annual 2008–2013 growth in:
|
Average 2008–2013 growth in:
|
---|
|
Employment
|
Population
|
House price per sqm
|
Employment
|
Population
|
House price per sqm
|
---|
ln(annual per capita payments)t
|
−0.0002
|
0.0004
|
0.0004
| | | |
(0.0010)
|
(0.0003)
|
(0.0015)
| | | |
ln(cumulative per capita payments 07–13)
| | | |
−0.0027**
|
0.0011
|
−0.0027
|
| | |
(0.0013)
|
(0.0007)
|
(0.0023)
|
Obs
|
1950
|
1950
|
1950
|
325
|
325
|
325
|
R2
|
0.2152
|
0.0471
|
0.2460
|
0.0124
|
0.0069
|
0.0029
|
- Note:
- The unit of observation is the LLM over time. Data on payments come from Open-coesione. Employment refers to the average annual employment from the LFS survey. Population is obtained from ISTAT data (inter-census reconstruction). Price per square meter is from OMI, aggregated at the municipality level using the method described in Cannari and Faiella (2008). The regressions include a constant and year fixed effects. Standard errors clustered for LLM in parentheses (robust s.e. for average growth). The average growth over 2008–13 is calculated as a geometric average
- *p < .10 **p < .05 ***p < .01