Table 9.

Hierarchical linear model, ANOVA random effects of the European subsample

New cases
YCases	0.0172***	0.0187***	0.0192***	0.0198***	0.0210***	0.0214***
	(40.37)	(41.86)	(42.86)	(43.88)	(46.61)	(47.80)
Days	− 1.065**	0.268	0.653	0.988**	1.658***	1.877***
	(− 2.56)	(0.64)	(1.56)	(2.37)	(4.02)	(4.58)
Dummy lockdown	463.0***
	(12.02)
After 10 days of lockdown		136.6***
		(3.05)
After 12 days of lockdown			13.27
			(0.29)
After 14 days of lockdown				− 106.9**
				(− 2.24)
After 18 days of lockdown					− 391.3***
					(− 7.76)
After 20 days of lockdown						− 512.5***
						(− 9.90)
Constant	23,495.3**	− 5777.8	− 14,238.0	− 21,584.3**	− 36,304.3***	− 41,123.8***
	(2.56)	(− 0.63)	(− 1.55)	(− 2.35)	(− 4.00)	(− 4.56)
lns1_1_1	2.576**	2.906***	3.154***	3.361***	3.716***	3.819***
	(1.98)	(3.24)	(4.43)	(5.55)	(7.63)	(8.25)
lnsig_e	6.724***	6.737***	6.738***	6.737***	6.732***	6.728***
	(680.44)	(681.72)	(681.78)	(681.71)	(681.14)	(680.77)
Observations	5123	5123	5123	5123	5123	5123

t statistics are shown in parentheses

**p < 0.05, ***p < 0.01

ANOVA analysis of variance