Table 3.

Robustness check: Restricted sample.

	(1)	(2)	(3)	(4)
	Dependent Variable: Consultation Rate
Panel A: OLS	1 month	3 months	6 months	1 year
HPG	0.778a	1.186b	0.462	-0.182
	(0.372)	(0.598)	(0.493)	(0.399)
Observations	996	996	996	996
R-squared	0.636	0.639	0.636	0.635
	Dependent Variable: Consultation Rate
Panel B: IV	1 month	3 months	6 months	1 year
HPG	15.803b	7.705b	4.986b	2.655
	(9.502)	(4.223)	(2.781)	(1.854)
Observations	996	996	996	996
R-squared	-0.713	-0.252	-0.246	-0.260
KP LM Stat	13.48	14.71	14.08	14.16
KP F Stat	12.09	9.907	9.630	8.392
Ln(Lagged Income)	YES	YES	YES	YES
City FE	YES	YES	YES	YES
Year–month FE	YES	YES	YES	YES

Robust standard errors clustered at the city level in parentheses.

***p < 0.01.

^ap < 0.05.

^bp < 0.1.