Table 3.

DID estimates using different distance bands for the treatment group.

	(1)	(2)	(3)
Treatment group	0–20 km	20–40 km	40–60 km
Control group	100–140 km	100–140 km	100–140 km
IApr. 2011 × Itreatment	−0.251*	−0.185**	−0.169
	(0.140)	(0.083)	(0.108)
IMay 2011 × Itreatment	−0.166	−0.009	0.074
	(0.129)	(0.102)	(0.100)
IJun. 2011 × Itreatment	−0.412	−0.107	−0.170
	(0.443)	(0.110)	(0.151)
IJul. 2011 × Itreatment	0.118	−0.193*	−0.004
	(0.109)	(0.099)	(0.093)
IAug. 2011 × Itreatment	−0.005	0.030	−0.014
	(0.118)	(0.112)	(0.116)
ISep. 2011 × Itreatment	−0.125	0.010	0.057
	(0.175)	(0.107)	(0.103)
IOct. 2011 × Itreatment	−0.006	−0.046	0.101
	(0.134)	(0.094)	(0.095)
INov. 2011 × Itreatment	−0.200	−0.062	0.023
	(0.130)	(0.127)	(0.108)
IDec. 2011 × Itreatment	0.205	0.033	−0.060
	(0.126)	(0.100)	(0.132)
Control variables	Yes	Yes	Yes
N	26,841	32,267	35,752
Adj. R2	0.584	0.567	0.597

Note: Using Eq. (2) as the regression model, this table shows the monthly treatment effects of FNA on land prices within different distance bands. In Column 1, the treatment areas are defined as 0–20 km circles around nuclear plants. In Column 2, the treatment areas are the 20–40 km rings away from the nuclear plants, while in Column 3, the treatment areas are the 40–60 km rings. The 100–140 km rings are used as control groups across three columns. The pre-treatment period in the DID estimations is from July 2010 to February 2011. The core variables are products of a time dummy I_t and a treatment indicator I_treatment, the coefficients of them represent the time-varying treatment effect estimates. Control variables include land characteristics defined in Table 1, city-distance band fixed effects, and year-months fixed effects. Robust standard errors clustered at group-level (city-distance band combinations) are in parentheses.

^**Significant at the 5 percent level.

^*Significant at the 10 percent level.