EPU

SCF

SP

HP

Const(Reg.1)

5.286596

252.912537***

99.345185***

99.511558***

Const(Reg.2)

10.170138

402.357225***

179.617647***

184.826120***

Const(Reg.3)

74.542961***

452.045186***

131.986077***

143.268466***

EPU_1

0.247431***

−0.014706

0.032518

0.487622***

EPU_2

0.153859**

0.053886

−0.046548

0.043399

EPU_3

0.197152***

−0.078890

0.023670

−0.043911

SCF_1

0.000832

0.194666***

0.030639

−0.006431

SCF_2

−0.004924

0.118591***

−0.055684

−0.060735**

SCF_3

0.007778

0.285006***

−0.024353

0.007301

SP_1

−0.012968*

−0.046581

0.995518***

0.025546

SP_2

0.001898

−0.147748*

0.049506

0.070659

SP_3

0.012118

0.116547*

−0.120352*

−0.125860**

HP_1

−0.002869

−0.059592

−0.040995

1.070803***

HP_2

0.039698**

0.156596

−0.006253

−0.333429***

HP_3

−0.031464***

−0.141945**

0.055607

0.241566***

SE (Reg.1)

15.990823

57.796677

88.959115

64.509785

SE (Reg.2)

25.358267

447.068413

302.674483

194.810558

SE (Reg.3)

91.858848

307.680980

130.512424

146.878575