Appendix Table 3.

Probability of Likely Psychological Problem, based on Emotional Difficulty Score - Heterogeneous Effects by Race/Ethnicity and Parental Employment Status

	Panel A. State Unemployment Rate
	(1)	(2)	(3)	(4)
	White	Non-white	Both Parents Working	At least 1 Unemployed Parent
Marginal Effect	0.0025	0.0049***	0.0017	0.0012
(SE)	(0.0016)	(0.0011)	(0.0014)	(0.0044)
Mean, Dependent Var.	0.056	0.044	0.035	0.077
Relative Effect of 1-SD Fall in Unemployment Rate	−6.7%	−16.8%	−7.3%	−2.4%
	Panel B. State Housing Price Index
	(1)	(2)	(3)	(4)
	White	Non-white	Both Parents Working	At least 1 Unemployed Parent
Marginal Effect	−0.017*	−0.019**	−0.0088	−0.0385*
(SE)	(0.009)	(0.009)	(0.0074)	(0.0219)
Mean, Dependent Var.	0.056	0.044	0.035	0.077
Relative Effect of 1-SD Rise in Housing Prices	−5.8%	−8.2%	−4.8%	−9.5%
Sample size	54,425	55,842	36,460	40,028

Note: Results are from probit models with robust standard errors clustered on the state. Covariates include age, sex, race/ethnicity, parental education, parental age, and parental marital status. Models include a full set of state fixed effects and time fixed effects.

^*p-value <.10

^**p-value<.05

^***p-value<.01.