. Author manuscript; available in PMC: 2016 Jan 15.

Published in final edited form as: Econometrica. 2015 Jul 1;83(4):1497–1541. doi: 10.3982/ECTA12749

Table IV.

Summary of descriptive statistics and testing results

Variables

Mean

Std dev.

Median

Min

Max

N_τ

617.70

26.31

621

574

665

{| \hat{θ} |}_{0}

5.20

3.50

{\bar{| \hat{θ} |}}_{i}^{τ} (%)

0.9767

0.1519

0.9308

0.7835

1.3816

{\bar{| \hat{θ} |}}_{i \in \hat{S}}^{τ} (%)

4.5569

1.4305

4.1549

1.7839

10.8393