TABLE 1.
Impacts of the nationwide lockdown on Chinese cabbage price: T‐RD estimates
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| After | 0.473 *** | 0.477 *** | 0.459 *** | 0.477 *** |
| (11.08) | (9.71) | (9.33) | (9.16) | |
| Time | 0.0154 *** | 0.0244 *** | 0.0272 *** | 0.0289 *** |
| (6.48) | (4.47) | (4.26) | (3.36) | |
| After×Time | −0.00686 | −0.0306 ** | −0.0200 | −0.0382 * |
| (−1.36) | (−2.27) | (−1.25) | (−1.90) | |
| Time 2 | 0.000810 ** | 0.00138 ** | 0.00178 * | |
| (2.42) | (2.45) | (1.68) | ||
| After×Time 2 | 0.000335 | −0.000856 | 0.00111 | |
| (0.44) | (−0.68) | (0.51) | ||
| Time 3 | 0.0000301 * | 0.0000619 | ||
| (1.96) | (1.22) | |||
| After×Time 3 | −0.0000581 * | −0.000217 ** | ||
| (−1.81) | (−2.40) | |||
| Time 4 | 0.000000822 | |||
| (1.03) | ||||
| After×Time 4 | 0.00000145 | |||
| (0.99) | ||||
| Constant | 0.384 *** | 0.346 *** | 0.297 *** | 0.294 *** |
| (26.87) | (17.90) | (13.65) | (12.06) | |
| Market FEs | Yes | Yes | Yes | Yes |
| Month FEs | Yes | Yes | Yes | Yes |
| Market×Month FEs | Yes | Yes | Yes | Yes |
| AIC | −2087.27 | −2756.46 | −5007.05 | −7054.98 |
| BIC | −2070.41 | −2727.08 | −4962.06 | −6994.16 |
| Best bandwidth | 21.30 | 27.18 | 44.32 | 60.88 |
| Effective N | 2041 | 2633 | 4572 | 6363 |
| adj. R 2 | 0.863 | 0.877 | 0.898 | 0.903 |
Notes: This table presents the T‐RD estimates of the ATEs of nationwide lockdown on Chinese cabbage price. Under the different specifications with different orders of polynomial, the best bandwidth is calculated using MSE‐optimal bandwidth selector for the RD treatment effect estimator (MSERD). Standard errors are clustered at market level and t statistics are in parentheses.
*
= p < 0.1.
**
= p < 0.05.
***
= p < 0.01.