变量

分位数回归模型

固定效应模型

q = 0.30

q = 0.50

q = 0.70

lnPO

0.919^***

0.928^***

0.847^***

0.586^**

(26.31)

(19.49)

(2.64)

lnSI

−0.356^***

−0.366^***

−0.645^***

0.009

(−6.59)

(−4.46)

(−6.37)

(0.12)

lnEC

0.799^***

0.811^***

0.775^***

0.240^***

(33.78)

(22.57)

(17.50)

(7.63)

lnEI

0.905^***

0.984^***

1.067^***

0.936^***

(25.17)

(18.02)

(15.86)

(11.96)

lnUR

−0.352^*

−0.229

−0.325

−0.213

(−2.35)

(−1.01)

(−1.16)

(−1.18)

lnPG

1.119^***

1.050^***

1.021^***

1.038^***

(18.85)

(11.64)

(9.18)

(11.41)

lnFT

0.0438^**

0.0730^**

0.0566^*

0.064^*

(2.94)

(3.23)

(2.03)

(2.3)

lnFD

−0.013

−0.00539

0.0585^*

0.022

(−1.07)

(−0.29)

(2.58)

(1.84)

policy

−0.0642^*

−0.0352

−0.0257

−0.009

(−2.56)

(−0.92)

(−0.55)

(−0.52)

_cons

−7.952^***

−8.691^***

−7.026^***

−4.942^***

(−11.91)

(−8.57)

(−5.62)

(−2.62)