(1)

(2)

ce

lnti

difi1

−0.294***

0.337***

(0.0699)

(0.0885)

agdp1

0.0749***

0.00731

(0.0251)

(0.0379)

gov

0.0210**

−0.0250***

(0.00885)

(0.00895)

ur

−0.0293**

0.0537***

(0.0109)

(0.0153)

hc

0.0178

−0.00967

(0.0158)

(0.0188)

lnti

_cons

3.119***

6.936***

(0.594)

(0.998)

N

330

330

R2

0.770

0.867

adj. R2

0.767

0.865