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Table 3 Second-Stage Regressions

From: Was the American Recovery and Reinvestment Act an Economic Stimulus?

  (1) (2) (3) (4) (5)
Explanatory variable:
 FMAP outlays (normalized by 2008 population) −0.39
(0.30)
1.14***
(0.41)
0.15
(0.33)
1.61***
(0.48)
2.24***
(0.79)
Control variables:
 2004% vote share Kerry   −0.15***
(0.03)
  −0.17***
(0.03)
−0.25***
(0.06)
 2007% union share   −0.08
(0.07)
  −0.11***
(0.08)
−0.17
(0.13)
 GSPpc2008   −0.00
(0.01)
  −0.00
(0.01)
0.03
(0.02)
 2005 to 2007 average % manufacturing   −0.21**
(0.08)
  −0.20**
(0.08)
−0.30***
(0.14)
 Population 2008   −0.00***
(0.00)
  −0.00***
(0.00)
−0.00**
(0.00)
 Regional dummies   X   X X
  −1.65**
(0.80)
6.56***
(2.24)
−2.39***
(0.88)
6.41***
(2.28)
8.10***
(3.80)
Intercept      
Observations 51 51 51 51 51
Estimation OLS OLS 2SLS 2SLS 2SLS
  1. For Models 1–4, the dependent variable is GSP per capita growth from 2008 to 2009. For Model 5, the dependent variable is percentage growth in 2009. Standard errors are in parentheses. Source: Own calculations using data from BEA (2012, 2013, 2014, 2015, 2016), BLS (2009a, b, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017), Chodorow-Reich et al. (2012b)
  2. ***Significant at the 1% level **Significant at the 5% level *Significant at the 10% level