Table 2.
Tax pass-through results
| Quadratic time | State quadratic time | Year fixed effects | ||||
|---|---|---|---|---|---|---|
| Mean | (1) | (2) | (3) | (4) | (5) | |
| Real state + federal tax | 0.840 (SD = 0.427) | 0.942** (0.045) | 0.763** (0.079) | 1.030** (0.028) | ||
| Real state + federal + escrow tax | 1.022 (SD = 0.491) | 1.087** (0.031) | 1.090** (0.046) | |||
| Implied tax elasticity | [0.275] | [0.427] | [0.222] | [0.428] | [0.300]/[0.405] | |
| Unemployment rate | 0.044 (SD = 0.012) | −0.022 (0.014) | 0.009 (0.010) | −0.030 (0.022) | 0.038* (0.017) | −0.006 (0.010) |
| Percent white | 0.822 (SD = 0.138) | −3.187 (2.814) | 0.203 (2.145) | −6.677 (6.720) | −4.031 (4.989) | 1.226 (1.715) |
| Percent black | 0.113 (SD = 0.117) | −0.501 (3.358) | 0.586 (2.552) | 5.290 (14.331) | −0.670 (10.673) | 0.729 (2.079) |
| Percent female | 0.508 (SD = 0.008) | −22.250 (14.861) | −3.247 (11.327) | −124.680** (33.430) | −41.471 (25.182) | −3.137 (9.075) |
| Percentage of people aged 0–9 | 0.090 (SD = 0.031) | −8.393* (3.897) | −3.410 (2.959) | −7.769 (11.312) | 8.142 (8.471) | −3.396 (3.435) |
| Percentage of people aged 10–19 | 0.101 (SD = 0.037) | 4.255* (2.137) | 2.116 (1.622) | 17.973* (8.475) | 4.266 (6.345) | 4.830** (1.843) |
| Percentage of people aged 20–29 | 0.095 (SD = 0.035) | −3.274 (2.717) | −1.119 (2.060) | −24.141** (6.224) | −14.090** (4.627) | 2.961 (2.019) |
| Percentage of people aged 30–49 | 0.146 (SD = 0.008) | 5.096 (5.961) | −0.155 (4.527) | 58.934** (13.140) | 17.685 (9.798) | −0.807 (4.180) |
| Percentage of people aged 50–64 | 0.088 (SD = 0.009) | 13.185* (6.619) | 1.555 (5.061) | 85.902** (14.749) | 31.364** (11.086) | −1.262 (4.627) |
| Percentage of people aged 65+ | 0.087 (SD = 0.033) | −2.567 (1.970) | −1.147 (1.496) | −17.591** (4.115) | −8.584** (3.086) | 0.570 (1.839) |
| Per capita income/1000 | 29.3 (SD = 6.56) | 0.002 (0.009) | 0.003 (0.007) | 0.009 (0.023) | 0.034* (0.017) | −0.001 (0.009) |
| Constant | 14.593 (9.168) | 2.941 (6.989) | 57.212** (18.354) | 21.127 (13.780) | 1.298 (5.796) | |
| Observations | 663 | 663 | 663 | 663 | 663 | |
| R2 | 0.94 | 0.97 | 0.95 | 0.97 | 0.98 | |
Notes: SEs are given in parentheses. Elasticities are given in square brackets.
* and **Denote significance at the 5% and 1% levels, respectively.