Variable | SDPM with individual Fixed Effects | SDPM with Time Fixed Effects | SDPM with individual and Time Fixed Effects (Best model) | SDPM with Random Effects | SEPM with individual and Time Fixed Effects | SLPM with individual and Time Fixed Effects |
---|---|---|---|---|---|---|
Ln (waterfall) | 0.115*** (3.79) | 0.129*** (4.13) | 0.064** (2.28) | 0.119*** (3.90) | 0.043 (1.48) | 0.048 (1.68) |
temperature | 0.033 (0.71) | 0.009 (0.59) | 0.074 (1.87) | 0.020 (0.49) | 0.220*** (7.07) | 0.216*** (6.82) |
humidity | 0.005 (0.48) | −0.021*** (−3.73) | 0.005 (0.60) | 0.001 (0.12) | 0.021*** (2.90) | 0.020*** (2.80) |
W × ln (waterfall) | −0.110*** (−3.08) | − 0.206*** (− 3.78) | −0.224*** (−4.55) | −0.114*** (− 3.19) | ||
W × temperature | 0.025 (0.53) | 0.189*** (7.52) | 0.047*** (3.12) | 0.038 (0.93) | ||
W × humidity | − 0.004 (− 0.37) | 0.079*** (6.36) | 0.481*** (6.11) | − 0.000 (− 0.01) | ||
ρ | 0.527*** (23.08) | −0.047 (−1.28) | − 0.082* (−2.23) | 0.525*** (22.94) | − 0.050 (−1.36) | |
λ | −0.066 (−1.76) | |||||
LLR | − 1947.0557 | − 1821.5605 | − 1673.4282 | − 1968.8335 | − 1698.6342 | − 1699.2869 |
Rw2 | 0.3798 | 0.3555 | 0.3760 | 0.3792 | 0.3755 | 0.3755 |
Rb2 | 0.3354 | 0.4717 | 0.3557 | 0.3798 | 0.1764 | 0.1688 |
R2 | 0.3681 | 0.3593 | 0.3693 | 0.3682 | 0.3514 | 0.3502 |
Obs | 1200 | 1200 | 1200 | 1200 | 1200 | 1200 |