Table 7 Base wage and non-base wage adjustment, SUR estimates
(1) | (2) | (3) | |
|---|---|---|---|
Base wages | Base wages | Base wages | |
Decrease | Unchanged | Increase | |
Demand | |||
Decrease | 0.027*** | 0.040*** | -0.067*** |
(0.003) | (0.005) | (0.008) | |
Unchanged (reference) | - | - | - |
Increase | -0.040*** | -0.095*** | 0.135*** |
(0.003) | (0.006) | (0.008) | |
Finance shock | 0.023*** | 0.036*** | -0.059*** |
(0.003) | (0.004) | (0.008) | |
Customers’ ability to pay shock | 0.007** | 0.011** | -0.017** |
(0.003) | (0.004) | (0.007) | |
Availability of supplies shock | 0.010*** | 0.015*** | -0.024*** |
(0.003) | (0.005) | (0.008) | |
Non-base wages | Non-base wages | Non-base wages | |
Decrease | Unchanged | Increase | |
Demand | |||
Decrease | 0.070*** | 0.021*** | -0.091*** |
(0.005) | (0.002) | (0.007) | |
Unchanged (reference) | - | - | - |
Increase | -0.064*** | -0.067*** | 0.132*** |
(0.004) | (0.004) | (0.008) | |
Finance shock | 0.043*** | 0.018*** | -0.061*** |
(0.005) | (0.002) | (0.007) | |
Customers’ ability to pay shock | 0.019*** | 0.009*** | -0.029*** |
(0.004) | (0.002) | (0.006) | |
Availability of supplies shocks | 0.017*** | 0.008*** | -0.025*** |
(0.006) | (0.002) | (0.008) | |
p-value | 0.000 | ||
Rho | 0.6 | ||
Observations | 19,864 | ||