WebSTAC X Files X C Homework: Chapter 12 Home X Course Hero X + X C A wustl.instructure.com/courses/67826/files/folder/Lecture%20Slides? preview=3399844 . . . Dependent variable: In(1,1995 ) cigarettes) - In(Q1,1985 Regressor (1) (2) (3) pcigarettes In ( pagarettes ) - In ( Pi.1985 -0.94 -1.34 -1.20 (0.21) (0.23) (0.20) [-1.36, -0.52] [-1.80, -0.88] [-1.60, -0.81] In ( Inc;,1995) - In (Inc,,1985) 0.53 0.43 0.46 (0.34) (0.30) (0.31) [-0.16, 1.21] [-0.16, 1.02] [-0.16, 1.09] Intercept -0.12 -0.02 -0.05 (0.07) (0.07) (0.06) Instrumental variable(s) Sales tax Cigarette-specific tax Both sales tax and cigarette-specific tax First-stage F-statistic 33.7 107.2 88.6 Overidentifying restrictions 4.93 J-test and p-value (0.026) These regressions were estimated using data for 48 U.S. states (48 observations on the 10-year differences). The data are described in Appendix 12.1. The J-test of overidentifying restrictions is described in Key Concept 12.6 (its p-value is given in parentheses), and the first-stage F-statistic is described in Key Concept 12.5. Heteroskedasticity-robust standard errors are given in parentheses beneath coefficients, and 95% confidence intervals are given in brackets.Textbook07FIN470A560A.pdf 2 X + - EXHV D 142.73% Q Q 13