Table A15:
Regression Results - Beer Sales (Levels)
| Seasonally Adjusted | Not Seasonally Adjusted | |||||||
|---|---|---|---|---|---|---|---|---|
| (1) Main |
(2) Donut |
(3) Synth |
(4) Synth-Donut |
(5) Main |
(6) Donut |
(7) Synth |
(8) Synth-Donut |
|
| Treatjt | 50.549*** | 51.250*** | 15.021 | 13.081 | 55.143*** | 56.343*** | 60.790*** | 59.732*** |
| Cluster SEs | (11.253) | (11.350) | - | - | (11.253) | (11.350) | - | - |
| Donald-Lang SEs | (25.409) | (25.635) | (22.265) | (22.294) | (34.246) | (34.193) | (15.223) | (14.084) |
| DL - Newey - West SEs | (25.082) | (24.155) | (26.635) | (26.024) | (51.941) | (51.404) | (20.659) | (17.526) |
| Observations | 879,270 | 845,774 | 210 | 202 | 879,270 | 845,774 | 210 | 202 |
| R-squared | 0.836 | 0.835 | 0.002 | 0.002 | 0.843 | 0.842 | 0.071 | 0.083 |
| Store-Fixed-Effects | Yes | Yes | No | No | Yes | Yes | No | No |
| Year-Month-Fixed-Effects | Yes | Yes | No | No | Yes | Yes | No | No |
| Seasonal Adj. | Yes | Yes | Yes | Yes | No | No | No | No |
Notes:Cluster Standard Errors: The dependent variable are total beer gallon sales in the store-week cell. Treatjt equals one for Illinois (treatment) stores from Sep 2009 on, and zero otherwise. Cluster SEs account for clustering at the state-level. Donald-Lang and DL-Newey-West: The dependent variable is the difference in the Illinois and the control states’ store-average, by week. Sample size is 210 weeks. Newey-West method adjusts for first-order autocorrelation with maximum lag set at 3 weeks. Donut-specifications leave out 8 weeks around policy change. In columns (3) and (4) as well as (7) and (8), the dependent variable is the difference between Illinois state aggregates and a synthetic control state aggregate.
indicate statistical significance at the 1%/5%/10%-level.