Do Powerful Politicians Really Cause Corporate Downsizing? — expanded estimators

Archive index · Regression tests · Results & settings (JSON) · Methods & code

Snyder and Welch (2017), JPE. https://doi.org/10.1086/694204

21 specifications. Effects are in outcome standard deviations; intervals are 95%.

Treatment adoption

Treatment adoption timing

S02-P017: seeded sample of 100 of 8,642 eligible units. Purple untreated; yellow treated; white unobserved.

AM005-P2587-T2-CAPEX-ACTUAL

AM005-P2587-T2-CAPEX-ACTUAL · S02-P001 · Data & fit details

160,503 observations · 14,831 units · 2,018 clusters · 843 treated / 13,988 control units.

Estimate comparison

S02-P001: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.101 0.044 [-0.188, -0.014] Coefficient
Dynamic TWFE 0.019 0.096 [-0.169, 0.207] Treated cells
BJS / did2s -0.117 0.054 [-0.223, -0.012] Treated cells
Sun–Abraham 0.027 0.013 [0.001, 0.053] Treated cells
CS-DID (equal event-time) -0.005 0.026 [-0.055, 0.045] Equal post-event times
CS-DID (treated cells) -0.003 0.038 [-0.077, 0.071] Treated cells
Matrix completion -0.133 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-CAPEX-NOOV-M1

AM005-P2587-T2-CAPEX-NOOV-M1 · S02-P002 · Data & fit details

158,170 observations · 14,949 units · 2,015 clusters · 824 treated / 14,125 control units.

Estimate comparison

S02-P002: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.210 0.161 [-0.525, 0.105] Coefficient
Dynamic TWFE -0.052 0.178 [-0.400, 0.296] Treated cells
BJS / did2s -0.209 0.184 [-0.570, 0.151] Treated cells
Sun–Abraham -0.055 0.017 [-0.087, -0.022] Treated cells
CS-DID (equal event-time) -0.041 0.031 [-0.102, 0.019] Equal post-event times
CS-DID (treated cells) -0.050 0.059 [-0.166, 0.066] Treated cells
Matrix completion -0.204 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-CAPEX-NOOV-M4M1

AM005-P2587-T2-CAPEX-NOOV-M4M1 · S02-P003 · Data & fit details

157,555 observations · 14,903 units · 2,013 clusters · 904 treated / 13,999 control units.

Estimate comparison

S02-P003: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.274 0.086 [-0.443, -0.104] Coefficient
Dynamic TWFE -0.244 0.080 [-0.400, -0.088] Treated cells
BJS / did2s -0.355 0.134 [-0.617, -0.092] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T2-CAPEX-QP-M1

AM005-P2587-T2-CAPEX-QP-M1 · S02-P004 · Data & fit details

159,423 observations · 14,746 units · 2,018 clusters · 826 treated / 13,920 control units.

Estimate comparison

S02-P004: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.141 0.052 [-0.243, -0.039] Coefficient
Dynamic TWFE -0.016 0.075 [-0.164, 0.132] Treated cells
BJS / did2s -0.170 0.067 [-0.301, -0.040] Treated cells
Sun–Abraham -0.016 0.015 [-0.045, 0.013] Treated cells
CS-DID (equal event-time) -0.041 0.021 [-0.082, -0.000] Equal post-event times
CS-DID (treated cells) -0.044 0.034 [-0.110, 0.022] Treated cells
Matrix completion -0.184 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-CAPEX-QP-M4

AM005-P2587-T2-CAPEX-QP-M4 · S02-P005 · Data & fit details

156,920 observations · 14,712 units · 2,012 clusters · 904 treated / 13,808 control units.

Estimate comparison

S02-P005: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.254 0.071 [-0.394, -0.114] Coefficient
Dynamic TWFE -0.242 0.074 [-0.388, -0.097] Treated cells
BJS / did2s -0.337 0.110 [-0.553, -0.120] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T2-DEMP-ACTUAL

AM005-P2587-T2-DEMP-ACTUAL · S02-P006 · Data & fit details

159,985 observations · 14,759 units · 2,018 clusters · 801 treated / 13,958 control units.

Estimate comparison

S02-P006: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.032 0.029 [-0.089, 0.025] Coefficient
Dynamic TWFE 0.064 0.101 [-0.134, 0.262] Treated cells
BJS / did2s -0.055 0.028 [-0.111, -0.000] Treated cells
Sun–Abraham 0.071 0.015 [0.041, 0.100] Treated cells
CS-DID (equal event-time) -0.021 0.032 [-0.083, 0.041] Equal post-event times
CS-DID (treated cells) -0.001 0.061 [-0.120, 0.118] Treated cells
Matrix completion -0.098 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-DEMP-NOOV-M1

AM005-P2587-T2-DEMP-NOOV-M1 · S02-P007 · Data & fit details

157,949 observations · 14,885 units · 2,013 clusters · 790 treated / 14,095 control units.

Estimate comparison

S02-P007: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.216 0.125 [-0.461, 0.028] Coefficient
Dynamic TWFE -0.130 0.123 [-0.372, 0.112] Treated cells
BJS / did2s -0.211 0.152 [-0.509, 0.086] Treated cells
Sun–Abraham -0.133 0.017 [-0.166, -0.101] Treated cells
CS-DID (equal event-time) -0.145 0.028 [-0.200, -0.090] Equal post-event times
CS-DID (treated cells) -0.161 0.089 [-0.336, 0.014] Treated cells
Matrix completion -0.220 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-DEMP-NOOV-M4M1

AM005-P2587-T2-DEMP-NOOV-M4M1 · S02-P008 · Data & fit details

157,219 observations · 14,831 units · 2,010 clusters · 866 treated / 13,965 control units.

Estimate comparison

S02-P008: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.178 0.044 [-0.265, -0.091] Coefficient
Dynamic TWFE -0.107 0.060 [-0.224, 0.011] Treated cells
BJS / did2s -0.220 0.052 [-0.322, -0.117] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T2-DEMP-QP-M1

AM005-P2587-T2-DEMP-QP-M1 · S02-P009 · Data & fit details

158,933 observations · 14,681 units · 2,018 clusters · 792 treated / 13,889 control units.

Estimate comparison

S02-P009: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.085 0.041 [-0.166, -0.005] Coefficient
Dynamic TWFE -0.024 0.049 [-0.121, 0.073] Treated cells
BJS / did2s -0.091 0.042 [-0.173, -0.010] Treated cells
Sun–Abraham -0.024 0.013 [-0.050, 0.002] Treated cells
CS-DID (equal event-time) -0.112 0.019 [-0.150, -0.075] Equal post-event times
CS-DID (treated cells) -0.104 0.042 [-0.188, -0.021] Treated cells
Matrix completion -0.120 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-DEMP-QP-M4

AM005-P2587-T2-DEMP-QP-M4 · S02-P010 · Data & fit details

156,719 observations · 14,659 units · 2,011 clusters · 866 treated / 13,793 control units.

Estimate comparison

S02-P010: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.156 0.034 [-0.224, -0.089] Coefficient
Dynamic TWFE -0.094 0.056 [-0.203, 0.015] Treated cells
BJS / did2s -0.198 0.043 [-0.282, -0.114] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T2-DSALES-ACTUAL

AM005-P2587-T2-DSALES-ACTUAL · S02-P011 · Data & fit details

172,342 observations · 15,535 units · 2,028 clusters · 887 treated / 14,648 control units.

Estimate comparison

S02-P011: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.013 0.034 [-0.080, 0.055] Coefficient
Dynamic TWFE 0.123 0.129 [-0.130, 0.376] Treated cells
BJS / did2s -0.031 0.036 [-0.101, 0.039] Treated cells
Sun–Abraham 0.131 0.016 [0.100, 0.162] Treated cells
CS-DID (equal event-time) 0.047 0.037 [-0.025, 0.119] Equal post-event times
CS-DID (treated cells) 0.067 0.070 [-0.071, 0.205] Treated cells
Matrix completion -0.082 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-DSALES-NOOV-M1

AM005-P2587-T2-DSALES-NOOV-M1 · S02-P012 · Data & fit details

170,067 observations · 15,686 units · 2,024 clusters · 878 treated / 14,808 control units.

Estimate comparison

S02-P012: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.253 0.138 [-0.523, 0.017] Coefficient
Dynamic TWFE -0.109 0.139 [-0.381, 0.163] Treated cells
BJS / did2s -0.258 0.176 [-0.603, 0.087] Treated cells
Sun–Abraham -0.112 0.018 [-0.148, -0.076] Treated cells
CS-DID (equal event-time) -0.116 0.033 [-0.180, -0.052] Equal post-event times
CS-DID (treated cells) -0.132 0.106 [-0.341, 0.076] Treated cells
Matrix completion -0.270 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-DSALES-NOOV-M4M1

AM005-P2587-T2-DSALES-NOOV-M4M1 · S02-P013 · Data & fit details

169,446 observations · 15,631 units · 2,021 clusters · 947 treated / 14,684 control units.

Estimate comparison

S02-P013: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.267 0.054 [-0.373, -0.161] Coefficient
Dynamic TWFE -0.260 0.045 [-0.349, -0.171] Treated cells
BJS / did2s -0.347 0.074 [-0.492, -0.203] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T2-DSALES-QP-M1

AM005-P2587-T2-DSALES-QP-M1 · S02-P014 · Data & fit details

171,347 observations · 15,459 units · 2,028 clusters · 880 treated / 14,579 control units.

Estimate comparison

S02-P014: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.083 0.045 [-0.171, 0.005] Coefficient
Dynamic TWFE 0.042 0.054 [-0.064, 0.148] Treated cells
BJS / did2s -0.101 0.049 [-0.197, -0.005] Treated cells
Sun–Abraham 0.043 0.015 [0.013, 0.074] Treated cells
CS-DID (equal event-time) -0.033 0.022 [-0.075, 0.009] Equal post-event times
CS-DID (treated cells) -0.030 0.046 [-0.120, 0.060] Treated cells
Matrix completion -0.139 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-DSALES-QP-M4

AM005-P2587-T2-DSALES-QP-M4 · S02-P015 · Data & fit details

168,711 observations · 15,419 units · 2,020 clusters · 947 treated / 14,472 control units.

Estimate comparison

S02-P015: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.232 0.044 [-0.318, -0.147] Coefficient
Dynamic TWFE -0.229 0.037 [-0.302, -0.155] Treated cells
BJS / did2s -0.308 0.058 [-0.422, -0.193] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T2-RD-ACTUAL

AM005-P2587-T2-RD-ACTUAL · S02-P016 · Data & fit details

83,997 observations · 8,574 units · 1,918 clusters · 330 treated / 8,244 control units.

Estimate comparison

S02-P016: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.022 0.013 [-0.047, 0.004] Coefficient
Dynamic TWFE -0.017 0.019 [-0.054, 0.020] Treated cells
BJS / did2s -0.033 0.016 [-0.064, -0.002] Treated cells
Sun–Abraham -0.019 0.011 [-0.040, 0.002] Treated cells
CS-DID (equal event-time) -0.126 0.059 [-0.242, -0.009] Equal post-event times
CS-DID (treated cells) -0.108 0.060 [-0.226, 0.010] Treated cells
Matrix completion -0.039 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-RD-NOOV-M1

AM005-P2587-T2-RD-NOOV-M1 · S02-P017 · Data & fit details

83,423 observations · 8,642 units · 1,911 clusters · 320 treated / 8,322 control units.

Estimate comparison

S02-P017: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.023 0.014 [-0.050, 0.004] Coefficient
Dynamic TWFE -0.003 0.014 [-0.030, 0.023] Treated cells
BJS / did2s -0.025 0.011 [-0.046, -0.004] Treated cells
Sun–Abraham -0.004 0.010 [-0.024, 0.016] Treated cells
CS-DID (equal event-time) -0.035 0.079 [-0.189, 0.119] Equal post-event times
CS-DID (treated cells) -0.036 0.072 [-0.177, 0.104] Treated cells
Matrix completion -0.021 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-RD-NOOV-M4M1

AM005-P2587-T2-RD-NOOV-M4M1 · S02-P018 · Data & fit details

83,038 observations · 8,586 units · 1,911 clusters · 347 treated / 8,239 control units.

Estimate comparison

S02-P018: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.029 0.009 [-0.048, -0.011] Coefficient
Dynamic TWFE -0.009 0.013 [-0.033, 0.016] Treated cells
BJS / did2s -0.020 0.011 [-0.042, 0.001] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T2-RD-QP-M1

AM005-P2587-T2-RD-QP-M1 · S02-P019 · Data & fit details

83,517 observations · 8,531 units · 1,916 clusters · 322 treated / 8,209 control units.

Estimate comparison

S02-P019: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.019 0.012 [-0.041, 0.004] Coefficient
Dynamic TWFE 0.002 0.018 [-0.034, 0.038] Treated cells
BJS / did2s -0.019 0.014 [-0.046, 0.008] Treated cells
Sun–Abraham 0.002 0.008 [-0.013, 0.016] Treated cells
CS-DID (equal event-time) -0.098 0.061 [-0.218, 0.021] Equal post-event times
CS-DID (treated cells) -0.087 0.062 [-0.210, 0.035] Treated cells
Matrix completion -0.022 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study

AM005-P2587-T2-RD-QP-M4

AM005-P2587-T2-RD-QP-M4 · S02-P020 · Data & fit details

82,596 observations · 8,499 units · 1,914 clusters · 347 treated / 8,152 control units.

Estimate comparison

S02-P020: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.026 0.008 [-0.042, -0.010] Coefficient
Dynamic TWFE -0.007 0.011 [-0.029, 0.015] Treated cells
BJS / did2s -0.019 0.009 [-0.036, -0.002] Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study

AM005-P2587-T3-R3-NOTEXAS

AM005-P2587-T3-R3-NOTEXAS · S02-P021 · Data & fit details

148,721 observations · 13,551 units · 49 clusters · 475 treated / 13,076 control units.

Estimate comparison

S02-P021: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.009 0.021 [-0.033, 0.051] Coefficient
Dynamic TWFE -0.038 0.023 [-0.084, 0.008] Treated cells
BJS / did2s 0.001 0.022 [-0.043, 0.044] Treated cells
Sun–Abraham -0.034 0.013 [-0.061, -0.008] Treated cells
CS-DID (equal event-time) -0.065 0.014 [-0.092, -0.038] Equal post-event times
CS-DID (treated cells) -0.068 0.015 [-0.098, -0.038] Treated cells
Matrix completion -0.016 — — Treated cells
Event studies

Periods −10 to +10; pointwise 95% intervals where available.

Dynamic TWFE event study BJS / did2s event study Sun–Abraham event study CS-DID event study Matrix completion event study