| Variable | FE | RE | Difference | sqrt(diag(V_b-V_B) |
| (b) | (B) | (b-B) | S.E. | |
| EMPL | 0.32705 | 0.3100553 | 0.0169947 | 0.0072827 |
| CHD | −0.082663 | −0.4710282 | 0.3883652 | 0.0905461 |
| OLD | 3.203845 | 2.936344 | 0.2675006 | 0.1965339 |
| GDP | 0.0669863 | 0.0553316 | 0.0116547 | . |
| CPI | 1.994288 | 1.450754 | 0.5435336 | . |
| DPI | 0.7197498 | 0.6624854 | 0.0572645 | 0.0081205 |
| PCE | 0.0416554 | 0.1127406 | −0.0710852 | . |
| TIAE | −0.0936961 | −0.0512486 | −0.0424474 | 0.0109342 |
| MED | 0.7560655 | 0.6885826 | 0.067483 | 0.0144555 |
| EDU | 0.2980343 | 0.2184758 | 0.0795585 | 0.0254603 |
| chi2 (13) | 124.22 | |||
| Prob > chi2 | 0.0000 | |||