Table 2.

Log Annual Earnings Covariance Regressions by Lag Order and Time Period: Selected Coefficients

	All Years	1969–1980	1981–1987
All Lag Orders
t	.0061* (.0004)	.0056* (.0008)	.0066* (.0008)
Dt	.0056* (.0008)	−.0008 (.0014)	.0183* (.0022)
Lag Orders 1–3
t	.0066* (.0007)	.0049* (.0013)	.0093* (.0017)
Dt	.0051* (.0011)	−.0001 (.0019)	.0156* (.0031)

Notes: Standard errors in parentheses

^*significant at the 10 percent level

Acronyms: see Table 1

Also included in regressions: D, A₂, DA₂, A₂−A₁, (A₂−A₁)², U₂, DU₂, U₁