Reply: Do Powerful Politicians Really Cause Corporate Downsizing? — expanded estimators

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

Cohen et al. (2017), JPE. https://doi.org/10.1086/694203

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

Treatment adoption

Treatment adoption timing

S03-P013: seeded sample of 100 of 11,515 eligible units. Purple untreated; yellow treated; white unobserved.

PP-REPLY-T1-PA-ALL-CHGEMP

PP-REPLY-T1-PA-ALL-CHGEMP · S03-P001 · Data & fit details

158,820 observations · 14,838 units · 58 clusters · 783 treated / 14,055 control units.

Estimate comparison

S03-P001: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.046 0.022 [-0.090, -0.001] Coefficient
Dynamic TWFE 0.024 0.110 [-0.196, 0.245] Treated cells
BJS / did2s -0.063 0.025 [-0.113, -0.013] Treated cells
Sun–Abraham 0.030 0.018 [-0.007, 0.066] Treated cells
CS-DID (equal event-time) 0.013 0.049 [-0.083, 0.110] Equal post-event times
CS-DID (treated cells) -0.046 0.143 [-0.326, 0.234] Treated cells
Matrix completion -0.105 — — 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

PP-REPLY-T1-PA-ALL-SALESGR

PP-REPLY-T1-PA-ALL-SALESGR · S03-P002 · Data & fit details

170,643 observations · 15,601 units · 58 clusters · 853 treated / 14,748 control units.

Estimate comparison

S03-P002: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.020 0.019 [-0.059, 0.019] Coefficient
Dynamic TWFE 0.110 0.154 [-0.197, 0.418] Treated cells
BJS / did2s -0.039 0.042 [-0.123, 0.046] Treated cells
Sun–Abraham 0.113 0.018 [0.077, 0.149] Treated cells
CS-DID (equal event-time) 0.054 0.061 [-0.065, 0.174] Equal post-event times
CS-DID (treated cells) 0.046 0.197 [-0.340, 0.432] Treated cells
Matrix completion -0.093 — — 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

PP-REPLY-T1-PA-NOOIL-CHGEMP

PP-REPLY-T1-PA-NOOIL-CHGEMP · S03-P003 · Data & fit details

152,549 observations · 14,280 units · 58 clusters · 707 treated / 13,573 control units.

Estimate comparison

S03-P003: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.050 0.023 [-0.096, -0.003] Coefficient
Dynamic TWFE -0.012 0.101 [-0.214, 0.189] Treated cells
BJS / did2s -0.061 0.024 [-0.109, -0.013] Treated cells
Sun–Abraham -0.010 0.018 [-0.047, 0.027] Treated cells
CS-DID (equal event-time) -0.025 0.044 [-0.112, 0.062] Equal post-event times
CS-DID (treated cells) -0.088 0.123 [-0.330, 0.153] Treated cells
Matrix completion -0.097 — — 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

PP-REPLY-T1-PA-NOOIL-SALESGR

PP-REPLY-T1-PA-NOOIL-SALESGR · S03-P004 · Data & fit details

163,763 observations · 14,993 units · 58 clusters · 766 treated / 14,227 control units.

Estimate comparison

S03-P004: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.041 0.022 [-0.084, 0.003] Coefficient
Dynamic TWFE 0.012 0.100 [-0.189, 0.213] Treated cells
BJS / did2s -0.065 0.029 [-0.122, -0.008] Treated cells
Sun–Abraham 0.010 0.017 [-0.024, 0.045] Treated cells
CS-DID (equal event-time) -0.067 0.038 [-0.141, 0.006] Equal post-event times
CS-DID (treated cells) -0.063 0.126 [-0.309, 0.183] Treated cells
Matrix completion -0.109 — — 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

PP-REPLY-T1-PA-NOTX-CHGEMP

PP-REPLY-T1-PA-NOTX-CHGEMP · S03-P005 · Data & fit details

148,390 observations · 13,713 units · 56 clusters · 488 treated / 13,225 control units.

Estimate comparison

S03-P005: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.039 0.027 [-0.093, 0.014] Coefficient
Dynamic TWFE -0.115 0.034 [-0.184, -0.047] Treated cells
BJS / did2s -0.062 0.033 [-0.128, 0.004] Treated cells
Sun–Abraham -0.110 0.024 [-0.157, -0.063] Treated cells
CS-DID (equal event-time) -0.216 0.031 [-0.276, -0.155] Equal post-event times
CS-DID (treated cells) -0.205 0.037 [-0.278, -0.131] Treated cells
Matrix completion -0.090 — — 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

PP-REPLY-T1-PA-NOTX-SALESGR

PP-REPLY-T1-PA-NOTX-SALESGR · S03-P006 · Data & fit details

159,163 observations · 14,409 units · 56 clusters · 519 treated / 13,890 control units.

Estimate comparison

S03-P006: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.031 0.027 [-0.084, 0.023] Coefficient
Dynamic TWFE -0.103 0.024 [-0.152, -0.054] Treated cells
BJS / did2s -0.074 0.025 [-0.124, -0.024] Treated cells
Sun–Abraham -0.104 0.020 [-0.144, -0.064] Treated cells
CS-DID (equal event-time) -0.192 0.027 [-0.244, -0.140] Equal post-event times
CS-DID (treated cells) -0.186 0.031 [-0.246, -0.126] Treated cells
Matrix completion -0.105 — — 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

PP-REPLY-T1-PA-NOTXOIL-CHGEMP

PP-REPLY-T1-PA-NOTXOIL-CHGEMP · S03-P007 · Data & fit details

156,443 observations · 14,604 units · 58 clusters · 712 treated / 13,892 control units.

Estimate comparison

S03-P007: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.056 0.023 [-0.102, -0.010] Coefficient
Dynamic TWFE -0.018 0.093 [-0.204, 0.167] Treated cells
BJS / did2s -0.068 0.024 [-0.116, -0.021] Treated cells
Sun–Abraham -0.016 0.019 [-0.054, 0.021] Treated cells
CS-DID (equal event-time) -0.040 0.042 [-0.122, 0.042] Equal post-event times
CS-DID (treated cells) -0.094 0.116 [-0.321, 0.133] Treated cells
Matrix completion -0.103 — — 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

PP-REPLY-T1-PA-NOTXOIL-SALESGR

PP-REPLY-T1-PA-NOTXOIL-SALESGR · S03-P008 · Data & fit details

168,071 observations · 15,356 units · 58 clusters · 771 treated / 14,585 control units.

Estimate comparison

S03-P008: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE -0.040 0.021 [-0.083, 0.002] Coefficient
Dynamic TWFE 0.000 0.089 [-0.177, 0.177] Treated cells
BJS / did2s -0.066 0.025 [-0.117, -0.015] Treated cells
Sun–Abraham -0.002 0.018 [-0.037, 0.033] Treated cells
CS-DID (equal event-time) -0.094 0.036 [-0.164, -0.024] Equal post-event times
CS-DID (treated cells) -0.074 0.113 [-0.295, 0.147] Treated cells
Matrix completion -0.108 — — 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

PP-REPLY-T1-PB-ALL-CHGEMP

PP-REPLY-T1-PB-ALL-CHGEMP · S03-P009 · Data & fit details

109,770 observations · 12,555 units · 56 clusters · 26 treated / 12,529 control units.

Estimate comparison

S03-P009: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.123 0.038 [0.047, 0.198] Coefficient
Dynamic TWFE -0.250 0.257 [-0.764, 0.264] Treated cells
BJS / did2s 0.141 0.030 [0.081, 0.201] Treated cells
Sun–Abraham -0.186 0.044 [-0.274, -0.097] Treated cells
CS-DID (equal event-time) -0.251 0.065 [-0.379, -0.124] Equal post-event times
CS-DID (treated cells) -0.309 0.080 [-0.467, -0.152] 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

PP-REPLY-T1-PB-ALL-SALESGR

PP-REPLY-T1-PB-ALL-SALESGR · S03-P010 · Data & fit details

118,800 observations · 13,225 units · 56 clusters · 29 treated / 13,196 control units.

Estimate comparison

S03-P010: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.086 0.027 [0.032, 0.140] Coefficient
Dynamic TWFE -0.012 0.152 [-0.316, 0.292] Treated cells
BJS / did2s 0.093 0.025 [0.042, 0.144] Treated cells
Sun–Abraham -0.023 0.037 [-0.098, 0.052] Treated cells
CS-DID (equal event-time) -0.080 0.102 [-0.280, 0.120] Equal post-event times
CS-DID (treated cells) -0.103 0.159 [-0.415, 0.210] 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

PP-REPLY-T1-PB-NOOIL-CHGEMP

PP-REPLY-T1-PB-NOOIL-CHGEMP · S03-P011 · Data & fit details

105,591 observations · 12,134 units · 56 clusters · 26 treated / 12,108 control units.

Estimate comparison

S03-P011: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.129 0.039 [0.051, 0.207] Coefficient
Dynamic TWFE -0.239 0.259 [-0.759, 0.281] Treated cells
BJS / did2s 0.149 0.031 [0.088, 0.211] Treated cells
Sun–Abraham -0.174 0.043 [-0.260, -0.088] Treated cells
CS-DID (equal event-time) -0.242 0.065 [-0.369, -0.115] Equal post-event times
CS-DID (treated cells) -0.301 0.079 [-0.455, -0.147] 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

PP-REPLY-T1-PB-NOOIL-SALESGR

PP-REPLY-T1-PB-NOOIL-SALESGR · S03-P012 · Data & fit details

114,267 observations · 12,772 units · 56 clusters · 29 treated / 12,743 control units.

Estimate comparison

S03-P012: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.093 0.027 [0.038, 0.148] Coefficient
Dynamic TWFE -0.010 0.160 [-0.332, 0.311] Treated cells
BJS / did2s 0.093 0.024 [0.045, 0.140] Treated cells
Sun–Abraham -0.023 0.039 [-0.102, 0.055] Treated cells
CS-DID (equal event-time) -0.078 0.109 [-0.291, 0.136] Equal post-event times
CS-DID (treated cells) -0.102 0.171 [-0.438, 0.233] 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

PP-REPLY-T1-PB-NOTX-CHGEMP

PP-REPLY-T1-PB-NOTX-CHGEMP · S03-P013 · Data & fit details

100,573 observations · 11,515 units · 55 clusters · 26 treated / 11,489 control units.

Estimate comparison

S03-P013: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.121 0.038 [0.044, 0.198] Coefficient
Dynamic TWFE -0.251 0.259 [-0.770, 0.269] Treated cells
BJS / did2s 0.140 0.032 [0.075, 0.205] Treated cells
Sun–Abraham -0.186 0.046 [-0.279, -0.092] Treated cells
CS-DID (equal event-time) -0.251 0.067 [-0.382, -0.120] Equal post-event times
CS-DID (treated cells) -0.309 0.084 [-0.473, -0.144] 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

PP-REPLY-T1-PB-NOTX-SALESGR

PP-REPLY-T1-PB-NOTX-SALESGR · S03-P014 · Data & fit details

108,685 observations · 12,131 units · 55 clusters · 29 treated / 12,102 control units.

Estimate comparison

S03-P014: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.088 0.028 [0.031, 0.145] Coefficient
Dynamic TWFE -0.009 0.157 [-0.324, 0.307] Treated cells
BJS / did2s 0.096 0.027 [0.042, 0.150] Treated cells
Sun–Abraham -0.020 0.039 [-0.099, 0.059] Treated cells
CS-DID (equal event-time) -0.077 0.106 [-0.284, 0.130] Equal post-event times
CS-DID (treated cells) -0.101 0.165 [-0.424, 0.223] 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

PP-REPLY-T1-PB-NOTXOIL-CHGEMP

PP-REPLY-T1-PB-NOTXOIL-CHGEMP · S03-P015 · Data & fit details

107,753 observations · 12,360 units · 56 clusters · 26 treated / 12,334 control units.

Estimate comparison

S03-P015: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.126 0.038 [0.049, 0.202] Coefficient
Dynamic TWFE -0.247 0.258 [-0.765, 0.270] Treated cells
BJS / did2s 0.145 0.031 [0.083, 0.206] Treated cells
Sun–Abraham -0.183 0.044 [-0.271, -0.094] Treated cells
CS-DID (equal event-time) -0.248 0.066 [-0.377, -0.120] Equal post-event times
CS-DID (treated cells) -0.307 0.080 [-0.464, -0.149] 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

PP-REPLY-T1-PB-NOTXOIL-SALESGR

PP-REPLY-T1-PB-NOTXOIL-SALESGR · S03-P016 · Data & fit details

116,613 observations · 13,020 units · 56 clusters · 29 treated / 12,991 control units.

Estimate comparison

S03-P016: point estimates, targets and available 95% intervals
Estimator Estimate (SDs) SE 95% CI Averaging
Static TWFE 0.091 0.028 [0.034, 0.148] Coefficient
Dynamic TWFE -0.010 0.157 [-0.325, 0.305] Treated cells
BJS / did2s 0.099 0.027 [0.045, 0.153] Treated cells
Sun–Abraham -0.021 0.038 [-0.098, 0.055] Treated cells
CS-DID (equal event-time) -0.078 0.106 [-0.286, 0.130] Equal post-event times
CS-DID (treated cells) -0.102 0.166 [-0.427, 0.224] 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