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    Hoi Reg Output (Trade-Employment-Wage Share)

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    Hoi Chu
    This document analyzes the relationship between trade policy variables like tariffs and import tariffs (itarf) on employment levels using a fixed effects model with robust standard errors and year fixed effects. It finds that: 1. Higher tariff and WTO tariff levels are associated with higher employment, while higher import tariffs have mixed effects depending on the model. 2. Controlling for factors like wages, productivity, firm size, ownership, and financial characteristics, the results suggest trade policies have a modest but statistically significant impact on domestic employment. 3. Using an instrumental variables approach to control for endogeneity produces generally similar results, though the size and significance of the relationships varies across specifications. The document runs

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    Hoi Reg Output (Trade-Employment-Wage Share)

    Uploaded by

    Hoi Chu
    21 views6 pages
    This document analyzes the relationship between trade policy variables like tariffs and import tariffs (itarf) on employment levels using a fixed effects model with robust standard errors and year fixed effects. It finds that: 1. Higher tariff and WTO tariff levels are associated with higher employment, while higher import tariffs have mixed effects depending on the model. 2. Controlling for factors like wages, productivity, firm size, ownership, and financial characteristics, the results suggest trade policies have a modest but statistically significant impact on domestic employment. 3. Using an instrumental variables approach to control for endogeneity produces generally similar results, though the size and significance of the relationships varies across specifications. The document runs

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    Regression output

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    Hoi Reg Output(Trade-employment-wage Share)

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    This document analyzes the relationship between trade policy variables like tariffs and import tariffs (itarf) on employment levels using a fixed effects model with robust standard errors and year fixed effects. It finds that: 1. Higher tariff and WTO tariff levels are associated with higher employment, while higher import tariffs have mixed effects depending on the model. 2. Controlling for factors like wages, productivity, firm size, ownership, and financial characteristics, the results suggest trade policies have a modest but statistically significant impact on domestic employment. 3. Using an instrumental variables approach to control for endogeneity produces generally similar results, though the size and significance of the relationships varies across specifications. The document runs

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    © All Rights Reserved
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    21 views6 pages

    Hoi Reg Output (Trade-Employment-Wage Share)

    Uploaded by

    Hoi Chu
    This document analyzes the relationship between trade policy variables like tariffs and import tariffs (itarf) on employment levels using a fixed effects model with robust standard errors and year fixed effects. It finds that: 1. Higher tariff and WTO tariff levels are associated with higher employment, while higher import tariffs have mixed effects depending on the model. 2. Controlling for factors like wages, productivity, firm size, ownership, and financial characteristics, the results suggest trade policies have a modest but statistically significant impact on domestic employment. 3. Using an instrumental variables approach to control for endogeneity produces generally similar results, though the size and significance of the relationships varies across specifications. The document runs

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    Trade and employment (lnL = log(no.

    of employees))

    1. Fixed effects
    (1) (2) (3) (4) (5) (6) (7) (8) (9)
    lnL lnL lnL lnL lnL lnL lnL lnL lnL
    tariff_lag 0.0005* 0.0011*** 0.0013*** 0.0000 0.0008** 0.0012***
    (0.000) (0.000) (0.000) (0.000) (0.000) (0.000)
    wto_tariff_lag -0.0012*** -0.0013*** -0.0014*** -0.0016***
    (0.000) (0.000) (0.000) (0.000)
    itarf_lag 0.0022** 0.0011 0.0006
    (0.001) (0.001) (0.001)
    wto_itarf_lag 0.0012 0.0018*
    (0.001) (0.001)
    erp_lag -0.0000 0.0000 0.0002*
    (0.000) (0.000) (0.000)
    wto_erp_lag -0.0002 -0.0003***
    (0.000) (0.000)
    lnwagepe -0.0738*** -0.0733*** -0.2178*** -0.0736*** -0.0732*** -0.2178*** -0.0739*** -0.0737*** -0.2181***
    (0.003) (0.003) (0.003) (0.003) (0.003) (0.003) (0.003) (0.003) (0.003)
    L.loglprod 0.0130*** 0.0133*** -0.0400*** 0.0132*** 0.0134*** -0.0399*** 0.0129*** 0.0130*** -0.0403***
    (0.002) (0.002) (0.003) (0.002) (0.002) (0.003) (0.002) (0.002) (0.003)
    lnY 0.3873*** 0.3873*** 0.3876***
    (0.004) (0.004) (0.004)
    SOE 0.0973*** 0.0964*** 0.0967*** 0.0964*** 0.0960*** 0.0966*** 0.0973*** 0.0971*** 0.0976***
    (0.029) (0.029) (0.028) (0.029) (0.029) (0.028) (0.029) (0.029) (0.028)
    POE -0.0382 -0.0386 -0.0564** -0.0388 -0.0393 -0.0570** -0.0380 -0.0383 -0.0563**
    (0.025) (0.025) (0.025) (0.025) (0.025) (0.025) (0.025) (0.025) (0.025)
    small -1.3226*** -1.3220*** -1.3225*** -1.3219*** -1.3229*** -1.3228***
    (0.008) (0.008) (0.008) (0.008) (0.008) (0.008)
    medium -0.6569*** -0.6564*** -0.6567*** -0.6563*** -0.6571*** -0.6570***
    (0.007) (0.007) (0.007) (0.007) (0.007) (0.007)
    lnliquidity 0.0199*** 0.0201*** -0.0255*** 0.0202*** 0.0203*** -0.0254*** 0.0196*** 0.0197*** -0.0259***
    (0.004) (0.004) (0.004) (0.004) (0.004) (0.004) (0.004) (0.004) (0.004)
    lnleverage 0.0112*** 0.0112*** 0.0016 0.0112*** 0.0112*** 0.0016 0.0112*** 0.0112*** 0.0016
    (0.001) (0.001) (0.001) (0.001) (0.001) (0.001) (0.001) (0.001) (0.001)
    Year FE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    Robust SE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    N 177416 177416 177416 177416 177416 177416 177713 177713 177713
    2. Fixed effects –IV regressions
    (1) (2) (3) (4) (5) (6) (7) (8) (9)
    lnL lnL lnL lnL lnL lnL lnL lnL lnL
    tariff -0.0062*** -0.0056*** -0.0038** -0.0063*** -0.0057*** -0.0037** -0.0122*** -0.0160*** -0.0097**
    (0.002) (0.002) (0.002) (0.002) (0.002) (0.002) (0.003) (0.004) (0.004)
    wto_tariff 0.0011 0.0011 -0.0016* 0.0086*** 0.0023
    (0.001) (0.001) (0.001) (0.002) (0.002)
    itarf 0.0177*** 0.0235*** 0.0145**
    (0.005) (0.006) (0.006)
    wto_itarf -0.0101** -0.0036
    (0.004) (0.004)
    lnwagepe -0.0743*** -0.0754*** -0.2201*** -0.0746*** -0.0758*** -0.2197*** -0.0746*** -0.0760*** -0.2199***
    (0.003) (0.003) (0.003) (0.003) (0.003) (0.003) (0.003) (0.003) (0.004)
    L.loglprod 0.0093*** 0.0103*** -0.0426*** 0.0092*** 0.0103*** -0.0425*** 0.0112*** 0.0107*** -0.0421***
    (0.002) (0.002) (0.003) (0.002) (0.002) (0.003) (0.002) (0.002) (0.003)
    lnY 0.3889*** 0.3888*** 0.3889***
    (0.004) (0.004) (0.004)
    SOE 0.1074*** 0.1024*** 0.1007*** 0.1082*** 0.1033*** 0.0996*** 0.0991*** 0.1027*** 0.0991***
    (0.029) (0.029) (0.028) (0.029) (0.029) (0.028) (0.029) (0.030) (0.029)
    POE -0.0359 -0.0345 -0.0543** -0.0354 -0.0340 -0.0551** -0.0367 -0.0321 -0.0546**
    (0.025) (0.026) (0.025) (0.025) (0.026) (0.025) (0.025) (0.026) (0.026)
    small -1.3308*** -1.3265*** -1.3311*** -1.3267*** -1.3278*** -1.3306***
    (0.008) (0.008) (0.008) (0.008) (0.008) (0.009)
    medium -0.6623*** -0.6601*** -0.6625*** -0.6603*** -0.6601*** -0.6619***
    (0.007) (0.007) (0.007) (0.007) (0.007) (0.007)
    lnliquidity 0.0183*** -0.0271*** 0.0182*** -0.0269*** 0.0196*** 0.0189*** -0.0264***
    (0.004) (0.004) (0.004) (0.004) (0.004) (0.004) (0.004)
    lnleverage 0.0111*** 0.0016 0.0111*** 0.0015 0.0111*** 0.0115*** 0.0018
    (0.001) (0.001) (0.001) (0.001) (0.001) (0.001) (0.001)
    Year FE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    Robust SE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    N 167286 165763 165763 167286 165763 165763 165763 165763 165763
    estatp 0.0000 0.0000 0.0047 0.0000 0.0000 0.0048 0.0000 0.0000 0.0054
    cdf 2113 2186 2193 1004 1033 1035 567.6093 262.1524 263.1310
    rkf 346.6908 345.4878 347.4739 157.5568 156.8775 157.2013 89.0282 36.2576 36.5066
    Fixed effexts – IV regressions

    (1) (2) (3) (4) (5) (6)


    lnL lnL lnL lnL lnL lnL
    erp 0.0004 0.0005* -0.0001 0.0005** 0.0006** 0.0001
    (0.000) (0.000) (0.000) (0.000) (0.000) (0.000)
    wto_erp -0.0003* -0.0003 -0.0005***
    (0.000) (0.000) (0.000)
    lnwagepe -0.0721*** -0.0733*** -0.2188*** -0.0717*** -0.0730*** -0.2181***
    (0.003) (0.003) (0.003) (0.003) (0.003) (0.003)
    L.loglprod 0.0126*** 0.0135*** -0.0406*** 0.0127*** 0.0135*** -0.0404***
    (0.002) (0.002) (0.003) (0.002) (0.002) (0.003)
    lnY 0.3876*** 0.3876***
    (0.004) (0.004)
    SOE 0.1008*** 0.0957*** 0.0984*** 0.1004*** 0.0953*** 0.0977***
    (0.029) (0.029) (0.028) (0.029) (0.029) (0.028)
    POE -0.0407 -0.0395 -0.0554** -0.0413* -0.0400 -0.0562**
    (0.025) (0.025) (0.025) (0.025) (0.025) (0.025)
    small -1.3265*** -1.3224*** -1.3263*** -1.3222***
    (0.008) (0.008) (0.008) (0.008)
    medium -0.6589*** -0.6567*** -0.6587*** -0.6566***
    (0.007) (0.007) (0.007) (0.007)
    lnliquidity 0.0202*** -0.0262*** 0.0203*** -0.0260***
    (0.004) (0.004) (0.004) (0.004)
    lnleverage 0.0113*** 0.0017 0.0112*** 0.0016
    (0.001) (0.001) (0.001) (0.001)
    Year FE Yes Yes Yes Yes Yes Yes
    Robust SE Yes Yes Yes Yes Yes Yes
    N 168726 167185 167185 168726 167185 167185
    estatp 0.0850 0.0456 0.5034 0.1451 0.0888 0.4566
    cdf 9205.5310 9100.2651 9095.8761 4661.2941 4608.6053 4606.6020
    rkf 723.3090 708.0427 706.2778 348.5333 352.8079 351.9443
    Trade and wage share (swage = total wage/TR)

    1. Fixed effects
    (1) (2) (3) (4) (5) (6) (7) (8) (9)
    swage swage swage swage swage swage swage swage swage
    *** *** ***
    tariff_lag -0.0436 -0.0667 -0.0573 0.0002 -0.0081 0.0065
    (0.007) (0.009) (0.008) (0.007) (0.010) (0.009)
    *** *** *
    wto_tariff_lag 0.0474 0.0359 0.0157 -0.0019
    (0.008) (0.007) (0.009) (0.009)
    *** ***
    itarf_lag -0.1930 -0.2224 -0.2400***
    (0.027) (0.032) (0.030)
    ***
    wto_itarf_lag 0.0960 0.1199***
    (0.028) (0.026)
    erp_lag -0.0127*** -0.0170*** -0.0193***
    (0.002) (0.002) (0.002)
    wto_erp_lag 0.0100*** 0.0127***
    (0.002) (0.002)
    L.loglprod -1.0499*** -1.0631*** 0.3161*** -1.0662*** -1.0799*** 0.2986*** -1.0484*** -1.0533*** 0.3211***
    (0.061) (0.061) (0.057) (0.061) (0.061) (0.057) (0.061) (0.061) (0.057)
    *** ***
    lnY -7.2976 -7.3018 -7.3091***
    (0.084) (0.084) (0.084)
    * *
    SOE 0.3475 0.3845 0.9554 0.4265 0.4715 1.0507 0.3811 0.3924 0.9659*
    (0.594) (0.589) (0.557) (0.586) (0.581) (0.547) (0.593) (0.591) (0.558)
    POE -0.3126 -0.2922 -0.7180 -0.2573 -0.2552 -0.6822 -0.2748 -0.2578 -0.6752
    (0.530) (0.526) (0.510) (0.521) (0.517) (0.500) (0.529) (0.527) (0.511)
    small -2.8590*** -2.8898*** -2.8699*** -2.8909*** -2.8493*** -2.8598***
    (0.204) (0.204) (0.204) (0.204) (0.204) (0.204)
    *** *** *** *** ***
    medium -1.0872 -1.1083 -1.1048 -1.1209 -1.0815 -1.0885***
    (0.155) (0.155) (0.155) (0.155) (0.155) (0.155)
    *** *** * *** *** ** ***
    lnliquidity -1.1857 -1.1955 -0.2118 -1.2101 -1.2164 -0.2328 -1.1873 -1.1919*** -0.2127**
    (0.120) (0.120) (0.108) (0.119) (0.119) (0.108) (0.120) (0.120) (0.108)
    lnleverage -0.2439*** -0.2423*** 0.1493*** -0.2449*** -0.2447*** 0.1467*** -0.2450*** -0.2447*** 0.1483***
    (0.032) (0.032) (0.029) (0.032) (0.032) (0.029) (0.032) (0.032) (0.029)
    Year FE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    Robust SE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    N 172880 172880 172880 172880 172880 172880 173166 173166 173166
    2. Fixed effect – IV regressions
    (1) (2) (3) (4) (5) (6) (7) (8) (9)
    swage swage swage swage swage swage swage swage swage
    tariff 0.0733 0.0585 0.0035 0.0698 0.0551 -0.0043 0.0905 0.0789 -0.1402*
    (0.046) (0.046) (0.038) (0.047) (0.046) (0.039) (0.071) (0.086) (0.075)
    wto_tariff 0.0533** 0.0515** 0.1210*** -0.0056 0.1718***
    (0.024) (0.023) (0.021) (0.051) (0.045)
    itarf -0.0884 -0.0022 0.3917***
    (0.095) (0.112) (0.106)
    wto_itarf 0.2180*** 0.1038
    (0.084) (0.076)
    L.loglprod -1.0117*** -1.0168*** 0.3360*** -1.0152*** -1.0199*** 0.3288*** -1.0217*** -1.0104*** 0.3513***
    (0.065) (0.065) (0.061) (0.066) (0.066) (0.061) (0.065) (0.066) (0.062)
    lnY -7.3104*** -7.3104*** -7.3145***
    (0.085) (0.085) (0.085)
    SOE 0.1139 0.2094 0.8670 0.1510 0.2442 0.9500* 0.2256 0.2380 0.9288
    (0.607) (0.605) (0.567) (0.604) (0.603) (0.563) (0.602) (0.606) (0.579)
    POE -0.3646 -0.4239 -0.7766 -0.3384 -0.3984 -0.7176 -0.4144 -0.4501 -0.7465
    (0.540) (0.538) (0.518) (0.538) (0.536) (0.515) (0.535) (0.540) (0.529)
    small -2.7118*** -2.8059*** -2.7273*** -2.8207*** -2.8005*** -2.7973***
    (0.209) (0.208) (0.209) (0.209) (0.208) (0.211)
    medium -0.9886*** -1.0521*** -1.0015*** -1.0644*** -1.0527*** -1.0499***
    (0.158) (0.157) (0.159) (0.158) (0.157) (0.159)
    lnliquidity -1.1605*** -0.1934* -1.1669*** -0.2081* -1.1673*** -1.1568*** -0.1824
    (0.122) (0.109) (0.122) (0.110) (0.121) (0.122) (0.111)
    lnleverage -0.2355*** 0.1544*** -0.2333*** 0.1597*** -0.2358*** -0.2348*** 0.1640***
    (0.033) (0.030) (0.033) (0.030) (0.033) (0.033) (0.030)
    Year FE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    Robust SE Yes Yes Yes Yes Yes Yes Yes Yes Yes
    N 162870 161381 161381 162870 161381 161381 161381 161381 161381
    estatp 0.0159 0.0307 0.4366 0.0123 0.0271 0.0000 0.0000 0.0000 0.0000
    cdf 2323.3799 2409.5700 2415.5034 1106.9315 1141.6037 1142.6344 644.4934 312.0359 312.9290
    rkf 338.8521 336.6950 337.9790 155.7662 154.7405 154.9427 91.1125 39.0289 39.2250
    Fixed effects – IV regressions
    (1) (2) (3) (4) (5) (6)
    swage swage swage swage swage swage
    ** *** *** ***
    erp -0.0142 -0.0151 0.0001 -0.0262 -0.0275 -0.0181***
    (0.006) (0.006) (0.005) (0.006) (0.006) (0.005)
    *** ***
    wto_erp 0.0283 0.0287 0.0423***
    (0.004) (0.004) (0.005)
    *** *** *** *** ***
    L.loglprod -1.0531 -1.0525 0.3423 -1.0633 -1.0625 0.3288***
    (0.061) (0.062) (0.058) (0.061) (0.061) (0.058)
    ***
    lnY -7.3012 -7.3070***
    (0.084) (0.084)
    SOE 0.2911 0.3856 0.8992 0.3256 0.4212 0.9534*
    (0.593) (0.593) (0.564) (0.590) (0.590) (0.559)
    POE -0.2121 -0.2735 -0.7431 -0.1645 -0.2243 -0.6717
    (0.529) (0.529) (0.516) (0.526) (0.525) (0.513)
    *** *** *** ***
    small -2.7674 -2.8562 -2.7910 -2.8800
    (0.205) (0.204) (0.205) (0.204)
    *** *** ***
    medium -1.0266 -1.0854 -1.0439 -1.1028***
    (0.156) (0.155) (0.156) (0.156)
    *** *
    lnliquidity -1.1873 -0.1902 -1.2018*** -0.2107*
    (0.120) (0.108) (0.120) (0.108)
    *** *** ***
    lnleverage -0.2460 0.1479 -0.2440 0.1515***
    (0.032) (0.029) (0.032) (0.029)
    Year FE Yes Yes Yes Yes Yes Yes
    Robust SE Yes Yes Yes Yes Yes Yes
    N 164280 162773 162773 164280 162773 162773
    estatp 0.7687 0.7550 0.0032 0.0000 0.0000 0.0000
    cdf 9180.4795 9086.9950 9091.9589 4649.5343 4602.5407 4604.8427
    rkf 720.2387 706.4384 705.8373 348.0505 352.9014 352.3119
    Standard errors in parentheses
    *
    p < 0.10, ** p < 0.05, *** p < 0.01

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