Table 5.
PMG estimators to explain employment expectations in A13 countries (March: 2020-May:2021)
| Variable | PMG1 | PMG2 | |
|---|---|---|---|
| Long-run relationship | COVID-19 index | -0.003* | -0.002* |
| Unemployment rate | -3.833* | -2.624* | |
| HICP | -4.381* | -0.092 | |
| Economic sentiment indicator | - | 0.511* | |
| Error correction term | - | -0.742* | -0.595* |
| Short-run relationship | COVID-19 index | -0.019* | -0.007* |
| Unemployment rate | -19.057* | -2.810* | |
| HICP | -0.066 | 1.458* | |
| Economic sentiment indicator | 0.432* | ||
| Constant | -301.364* | 26.446* | |
| Residuals | I(0) | I(0) | I(0) |
Source: own computations in Stata 15