被解释变量：ln (Residential-Houseprice)

PM2.5一阶滞后处理

PM2.5替换成PM10

去35个重点城市样本

变量

(1)

变量

(2)

变量

(3)

ln (lagPM2.5)

−0.1132^*

lnPM10

−0.0110^*

lnPM2.5

−0.1395^**

(0.0652)

(0.0181)

(0.0545)

City characteristics

Y

City characteristics

Y

City characteristics

Y

Industrial pollutant emissions

Y

Industrial pollutant emissions

Y

Industrial pollutant emissions

Y

Constant

7.9723^***

Constant

8.3751^***

Constant

8.2958^***

(0.2838)

(0.0790)

(0.2625)

Observations

1765

Observations

1682

Observations

1,554

R-squared

0.9633

R-squared

0.9617

R-squared

0.9368