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47
Regression Results for Figure 5
The Determinants of Policy
Minimum
Government
Taxes on
Taxes on
Wage
Consumption
Labor
Corporations
Cabinet Partisanship
Veto Points are
.0000822
.001644
.0108068
-2.907732
Low (0)
(.0004002)
(.0076007)
(.0215683)
(2.890083)
.837
.829
.616
.314
Veto Points are
.0014651
.0373835
.0266488
2.375875
High (7)
(.0003821) (.0095659)
(.0219239)
(2.504389)
.000
.000
.224
.343
Veto Points
-.2053637
.2471363
-8.715493
-81.43696
(.0201474)
(.3290694)
(.7490089)
(61.76376)
.000
.453
.000
.187
Union Density
.0065592
.0380818
.0092398
-2.459732
(.0011108)
(.0154434)
(.0301757)
(4.149658)
.000
.014
.759
.553
Wage Bargaining
.1649101
1.779668
7.955202 214.0713
Centralization
(.0759) (1.016586)
(2.418801) (343.7188)
.030
.080
.001
.533
International
-.0008256
-.0122587
-.0722009 -1.942861
Openness
(.000666)
(.0101152)
(.0226248) (1.921654)
.215
.226
.001
.312
Financial -.0011196
.0914944
.0505165 -13.6859
Openness
(.0044512)
(.0441894)
(.1138394) (8.609011)
.801
.038
.657
.112
Government
-.0043964
-.2251226
14.47656 1.939598
Debt
(.0339062)
(.4611567)
(1.037909) (110.0355)
.897
.625
.000
.986
Unemployment
.0055384
.3349267
.400639
3.493345
Rate
(.0020137)
(.0306326)
(.0666021) (4.610643)
.006
.000
.000
.449
GDP Growth
.0009273
-.1343195
-.1229831
.8925868
(.0019393)
(.0227912)
(.0508176) (4.251502)
.633
.000
.016
.834
Constant .4264531 8.676608
42.37103 557.3256
(.143077) (2.015055)
(4.24375) (416.1577)
.003
.000
.000
.180
N
290
348
338
329
R
2
.9407
.9502
.9613
.0445
All entries are OLS estimates. Numbers in bold are estimated coefficients; numbers in
parentheses are their panel-corrected standard errors; numbers in italics are p-values from
two-sided t-tests. Estimates for country dummies are not reported.
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