R. Va, 044) _cons -3.023*** -2.761*** -3.003*** -2.109** -0.645 (0.425) (0.359) (0.645) (1.021) (0.613) REGREF on HT industries (marginal effect), ) (0.147) year dummies Yes Yes Yes Yes Yes Number of Obs, 2743.

R. Va, 621*** (0.045) _cons -2.117*** -1.998*** -2.221*** -2

R. Va, 622*** (0.045) _cons -3.751*** -3.657*** -4.093*** -3

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