The Rise of Fiscal Capacity

All papers and comparison plots · Results JSON · Quarto source

14 of 14 registered specifications have estimates. Every registered specification appears below.

Cantoni et al. (2024), ECMA. https://doi.org/10.3982/ECTA20612

Data and estimation

Outcomes are divided by their unweighted source-sample standard deviation (ddof=1), before exclusions; they are not centered. Treatment adoption is the first observed treated period. Models share an eligible sample, fixed effects, controls and weights. Initially treated units, missing −1 baselines and unsupported untreated-outcome predictions are removed. For switching treatments, untreated rows after first adoption are removed. Exact counts and settings are in the JSON.

Static TWFE uses the treatment indicator. Dynamic TWFE omits event time −1. BJS/did2s fits untreated outcomes, then averages imputation residuals. Sun–Abraham estimates cohort-by-event-time effects. The three dynamic estimates share post-period aggregation weights. Event-study tails are unbinned. These are common-sample reruns, not Peter’s original estimator-specific sample and tail-binning rules.

The homogeneity test restricts identified cohort deviations at positive event times to zero; leads and event time 0 remain unrestricted. It is a homoskedastic nested-model F-test. Estimate intervals are separately cluster-robust, with the did2s two-stage correction. Large panels use algebraically equivalent sparse regressions; backend and validation results are recorded in JSON.

Adoption timing

Treatment adoption timing

S18-P003: seeded sample of 10 of 10 eligible units. Purple untreated; yellow treated; white unobserved. Calendar periods follow the configured time grid. Each specification uses its own full eligible sample.

Specification Status F_pvalue Static TWFE Dynamic TWFE BJS / did2s Sun–Abraham
S18-P001 estimated 1 0.2296 0.2985 0.3958 0.2978
S18-P002 estimated 1 0.1802 0.2407 0.3072 0.2333
S18-P003 estimated — 0.4438 0.6182 0.5068 —
S18-P004 estimated — 0.2507 0.1961 0.09628 —
S18-P005 estimated 1 -0.04003 -0.02973 -0.03723 -0.03785
S18-P006 estimated 1 -0.02051 -0.008228 -0.01782 0.008619
S18-P007 estimated 1 0.01593 0.03852 -0.006034 0.02184
S18-P008 estimated 1 0.2296 0.2215 0.3124 0.2141
S18-P009 estimated 1 0.1819 0.1894 0.2747 0.1841
S18-P010 estimated 1 0.1709 0.1801 0.2591 0.1784
S18-P011 estimated 1 0.1802 0.1842 0.2294 0.1638
S18-P012 estimated — 0.4438 0.6123 0.4804 —
S18-P013 estimated — 0.2507 0.2556 0.1451 —
S18-P014 estimated 1 -0.04464 -0.0292 -0.04081 -0.0264

Specifications

Open a specification for its estimates, event studies and homogeneity test. Plots display −10 through 10; JSON contains the full paths. Large-panel intervals are calculated over the displayed window.

S18-P001 · FISCAL-F1B-SIZE

Specification JSON · Configuration

FISCAL-F1B-SIZE

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 0.98026337.

method estimate se lower upper
Static TWFE 0.22957 0.061938 0.10793 0.3512
Dynamic TWFE 0.29852 0.073995 0.15321 0.44384
BJS / did2s 0.39582 0.090096 0.21889 0.57276
Sun–Abraham 0.29781 0.022453 0.25372 0.34191

Post-period weighting: equal_periods. Homogeneity F(4030, 92806) = 0.7536; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P002 · FISCAL-F2A-COMPACT-TERRITORY

Specification JSON · Configuration

FISCAL-F2A-COMPACT-TERRITORY

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 20.804514.

method estimate se lower upper
Static TWFE 0.18023 0.059491 0.063405 0.29706
Dynamic TWFE 0.24073 0.075639 0.092191 0.38927
BJS / did2s 0.30716 0.10133 0.10817 0.50615
Sun–Abraham 0.23333 0.025103 0.18403 0.28263

Post-period weighting: equal_periods. Homogeneity F(4030, 92806) = 0.488; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P003 · FISCAL-F5A-MARRIAGE-RULERS

Specification JSON · Configuration

FISCAL-F5A-MARRIAGE-RULERS

Source rows: 4,296; fitted rows: 1,198; units: 10; clusters: 10; treated cohorts: 6. Source outcome SD: 0.54680156.

method estimate se lower upper
Static TWFE 0.44379 0.44563 -0.56431 1.4519
Dynamic TWFE 0.61817 0.67994 -0.91997 2.1563
BJS / did2s 0.50684 0.53747 -0.70901 1.7227

Post-period weighting: equal_periods. Homogeneity F(—, —) = —; p = —.

The saturated and imported deviations designs do not span the same fitted model on this sparse panel. Test withheld.

TWFE, imputation, saturated event studies and cohort deviations
S18-P004 · FISCAL-F5B-MARRIAGE-LAND

Specification JSON · Configuration

FISCAL-F5B-MARRIAGE-LAND

Source rows: 4,296; fitted rows: 1,198; units: 10; clusters: 10; treated cohorts: 6. Source outcome SD: 2.1551406.

method estimate se lower upper
Static TWFE 0.25067 0.34106 -0.52085 1.0222
Dynamic TWFE 0.19612 0.54156 -1.029 1.4212
BJS / did2s 0.096283 0.37007 -0.74087 0.93344

Post-period weighting: equal_periods. Homogeneity F(—, —) = —; p = —.

The saturated and imported deviations designs do not span the same fitted model on this sparse panel. Test withheld.

TWFE, imputation, saturated event studies and cohort deviations
S18-P005 · FISCAL-T2-C1-VANISH-CONFLICT

Specification JSON · Configuration

FISCAL-T2-C1-VANISH-CONFLICT

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 3.5941609.

method estimate se lower upper
Static TWFE -0.04003 0.0069279 -0.053635 -0.026425
Dynamic TWFE -0.02973 0.014259 -0.057732 -0.0017273
BJS / did2s -0.03723 0.007165 -0.051301 -0.023159
Sun–Abraham -0.037848 0.01012 -0.057721 -0.017974

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.00596; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P006 · FISCAL-T2-C3-VANISH-PURCHASE

Specification JSON · Configuration

FISCAL-T2-C3-VANISH-PURCHASE

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 2.4548085.

method estimate se lower upper
Static TWFE -0.020511 0.0055751 -0.031459 -0.0095627
Dynamic TWFE -0.0082284 0.015664 -0.03899 0.022533
BJS / did2s -0.017818 0.0056019 -0.028819 -0.006817
Sun–Abraham 0.0086195 0.018388 -0.027492 0.044731

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.003507; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P007 · FISCAL-T2-C5-VANISH-EXTINCTION

Specification JSON · Configuration

FISCAL-T2-C5-VANISH-EXTINCTION

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 4.5253058.

method estimate se lower upper
Static TWFE 0.015932 0.027382 -0.03784 0.069705
Dynamic TWFE 0.038522 0.028416 -0.017281 0.094326
BJS / did2s -0.0060344 0.016347 -0.038136 0.026068
Sun–Abraham 0.021842 0.016685 -0.010923 0.054608

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.8175; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P008 · FISCAL-T3-C1-SIZE-SINGLE

Specification JSON · Configuration

FISCAL-T3-C1-SIZE-SINGLE

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 0.98026337.

method estimate se lower upper
Static TWFE 0.22957 0.061938 0.10793 0.3512
Dynamic TWFE 0.22154 0.063377 0.097079 0.346
BJS / did2s 0.31236 0.079909 0.15544 0.46929
Sun–Abraham 0.21409 0.016479 0.18173 0.24645

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.7536; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P009 · FISCAL-T3-C3-SIZE-UNCONTESTED

Specification JSON · Configuration

FISCAL-T3-C3-SIZE-UNCONTESTED

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 1.0033004.

method estimate se lower upper
Static TWFE 0.18195 0.049959 0.083837 0.28006
Dynamic TWFE 0.18936 0.058511 0.074452 0.30426
BJS / did2s 0.27475 0.068651 0.13993 0.40956
Sun–Abraham 0.18409 0.018291 0.14817 0.22

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.6362; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P010 · FISCAL-T3-C5-SIZE-ALL

Specification JSON · Configuration

FISCAL-T3-C5-SIZE-ALL

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 0.99159149.

method estimate se lower upper
Static TWFE 0.17091 0.051007 0.070743 0.27108
Dynamic TWFE 0.18011 0.061075 0.060169 0.30005
BJS / did2s 0.25915 0.074099 0.11363 0.40467
Sun–Abraham 0.17835 0.016615 0.14572 0.21098

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.7212; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P011 · FISCAL-T4-C1-COMPACT-TERRITORY

Specification JSON · Configuration

FISCAL-T4-C1-COMPACT-TERRITORY

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 20.804514.

method estimate se lower upper
Static TWFE 0.18023 0.059491 0.063405 0.29706
Dynamic TWFE 0.1842 0.059195 0.067957 0.30045
BJS / did2s 0.22938 0.073634 0.084773 0.37398
Sun–Abraham 0.16378 0.018413 0.12762 0.19994

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.488; p = 1.

TWFE, imputation, saturated event studies and cohort deviations
S18-P012 · FISCAL-T8-C1-MARRIAGE-RULERS

Specification JSON · Configuration

FISCAL-T8-C1-MARRIAGE-RULERS

Source rows: 4,296; fitted rows: 1,198; units: 10; clusters: 10; treated cohorts: 6. Source outcome SD: 0.54680156.

method estimate se lower upper
Static TWFE 0.44379 0.44563 -0.56431 1.4519
Dynamic TWFE 0.61234 0.58642 -0.71422 1.9389
BJS / did2s 0.48039 0.54354 -0.74919 1.71

Post-period weighting: observations. Homogeneity F(—, —) = —; p = —.

The saturated and imported deviations designs do not span the same fitted model on this sparse panel. Test withheld.

TWFE, imputation, saturated event studies and cohort deviations
S18-P013 · FISCAL-T8-C3-MARRIAGE-LAND

Specification JSON · Configuration

FISCAL-T8-C3-MARRIAGE-LAND

Source rows: 4,296; fitted rows: 1,198; units: 10; clusters: 10; treated cohorts: 6. Source outcome SD: 2.1551406.

method estimate se lower upper
Static TWFE 0.25067 0.34106 -0.52085 1.0222
Dynamic TWFE 0.25557 0.48204 -0.83488 1.346
BJS / did2s 0.14508 0.36407 -0.67849 0.96865

Post-period weighting: observations. Homogeneity F(—, —) = —; p = —.

The saturated and imported deviations designs do not span the same fitted model on this sparse panel. Test withheld.

TWFE, imputation, saturated event studies and cohort deviations
S18-P014 · FISCAL-T9-C1-VANISH-NOEXT

Specification JSON · Configuration

FISCAL-T9-C1-VANISH-NOEXT

Source rows: 102,825; fitted rows: 101,998; units: 618; clusters: 618; treated cohorts: 29. Source outcome SD: 4.3506872.

method estimate se lower upper
Static TWFE -0.044643 0.0068168 -0.05803 -0.031256
Dynamic TWFE -0.029203 0.013853 -0.056408 -0.0019971
BJS / did2s -0.04081 0.0070677 -0.054689 -0.02693
Sun–Abraham -0.026403 0.013345 -0.05261 -0.00019639

Post-period weighting: observations. Homogeneity F(4030, 92806) = 0.004851; p = 1.

TWFE, imputation, saturated event studies and cohort deviations

Reproduce

Code, configurations and environments · Generic Quarto template · Editable Jot template. Source datasets remain local. Run python templates/full_archive/run_archive.py, then python templates/full_archive/build_collection.py.