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The customers preferred specifications, features and their combinations are predicted for development of new products.
Our preferred specifications generate welfare costs ranging from 1% to 10% of (permanent) national consumption.
Moreover, in our preferred specifications we include hospital dummy variables in place of hospital characteristics.
This is why we take the country-level regressions as our preferred specifications, and carry out some country- broadly defined) secountry- broadly a robustness exercise.
Dube's estimated elasticity of the poverty rate with respect to the minimum wage in his preferred specifications is −0.24 to −0.36.
The coefficients remain positive but become considerably smaller in magnitude (less than 0.45) and are also estimated less precisely, i.e. only significantly positive at the 10%-level in two out of three of our preferred specifications.
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The authors' preferred specification interacts the instrumented measure of the quality of industrial relations with unobservable shocks common to all 18 OECD countries in their sample.
Our preferred specification includes, in addition to workers' demographic characteristics—such as gender, age, and education—and occupation, industry, and firm size dummies, a set of covariates that proxy both workers' motivations and skills used at the workplace.
Under the preferred specification presented in column (2), which includes a full set of controls as well as municipality fixed effects, it is estimated that Seguro Popular reduced on average the monthly amount of private transfers received by 50.86 pesos.
The authors' preferred specification is a so-called break-in-trend model, in which the first difference of employment is regressed on the contemporaneous level of the minimum wage (along with changes in the other controls).
Table 4 reports selected elements of that decomposition estimated using Model 1 (which does not accounts for human capital quality) and Model 4 (our preferred specification, which accounts for human capital quality while bypassing the possible endogeneity problems following the introduction of occupation and industry variables in the regression 18.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com