* Using Stata MP 12.1

clear

set matsize 2000

* Set working directory
cd "C:\Users\jmarshall\Dropbox\Globalization and Turnout\Replication Materials"
use "Spending.dta", clear



* Need to install: estout; xtlsdvc; xtserial
 
 
 
 
 
 

*********************************************** PRELIMINARY WORK *******************************************
 
****** Preparation of data

xtset cowcode year



g lagdeficit = L1.deficit



*** Abbreviations
global controls "deindust govparty deppop lagdeficit pr unionlevel unexpgrowthpc autotrans autocons"
global controlsben "deindust govparty deppop lagdeficit pr unionlevel unexpgrowthpc autotrans"
global trends "syear2-syear920sq"



*** Create ownership scale using factor analysis conditional on country effects
xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
predict factor, b






****** Diagnostics

*** Baseline model (few bootstrapped iterations for speed at this stage)
xtlsdvc govspend $controls, initial(ab) bias(3) vcov(500)



*** Testing for heteroskedasticity
quietly xtgls govspend $controls, igls panels(heteroskedastic)
quietly estimates store hetero
quietly xtgls govspend $controls
quietly local df = e(N_g) - 1
lrtest hetero . , df(`df')

quietly xtgls $controls i.cowcode, igls panels(heteroskedastic)
quietly estimates store hetero
quietly xtgls $controls $trends
quietly local df = e(N_g) - 1
lrtest hetero . , df(`df')

quietly xtgls $controls $trends, igls panels(heteroskedastic)
quietly estimates store hetero
quietly xtgls $controls $trends
quietly local df = e(N_g) - 1
lrtest hetero . , df(`df')

quietly xtgls $controls i.cowcode $trends, igls panels(heteroskedastic)
quietly estimates store hetero
quietly xtgls $controls $trends
quietly local df = e(N_g) - 1
lrtest hetero . , df(`df')



*** Test for first-order serial correlation
xtserial govspend $controls 
xi: xtserial govspend $controls i.cowcode
xtserial govspend $controls $trends
xi: xtserial govspend $controls i.cowcode $trends



*** Hausman test of random v. fixed effects
quietly xtreg govspend $controls $trends, fe
quietly estimates store fixed
quietly xtreg govspend $controls $trends, re
hausman fixed ., sigmamore



*** Identify the risk of spurious correlation by examining the hypothesis that all panels are stationary (only Fisher test allows for unbalanced panels with missing data)
xtunitroot fisher govspend, pp lag(1) demean








*********************************************** NON_IMPUTED MODELS *******************************************


************** Main government spending models

***** LSDVC
eststo clear

* Final baseline model
quietly eststo: xtlsdvc govspend $controls $trends, initial(ab) bias(3) vcov(500)

* Adding globalization variables
quietly foreach x of varlist logfdiflow logfdistock logportequ factor logtrade {
  capture eststo: xtlsdvc govspend `x' $controls $trends, initial(ab) bias(3) vcov(500)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) order(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)") keep(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) order(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")



***** Arellano and Bond estimation
eststo clear

* Final baseline model
quietly eststo: xtabond govspend $controls $trends, lag(1) artest(2) vce(robust)

* Adding globalization variables
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  capture eststo: xtabond govspend `x' $controls $trends, lag(1) artest(2) vce(robust)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) order(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)") keep(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) order(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")



***** OLS with country fixed effects estimation
eststo clear

* Final baseline model
quietly xtreg govspend L1.govspend $controls $trends, fe vce(robust)

* Adding globalization variables
quietly foreach x of varlist logfdiflow logfdistock logportequ factor logtrade {
  capture eststo: xtreg govspend L1.govspend `x' $controls $trends, fe vce(robust)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) order(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)") keep(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) order(logfdiflow logfdistock logportequ factor logtrade L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")










********************************************** IMPUTED MODELS **************************************

* Use LSDVC (Kiviet 1999; Bruno 2005): take Arellano-Bond as the initial consistent estimator used to calculate
* the bias of the FE estimator; correct bias to highest possible degree (3rd order); then simulate to get 
* SEs taking 500 simulations from the distribution of the two-step estimator (which takes into account estimation
* uncertainty from the first stage).

* Sometimes the VCov matrix is not symmetric from the Arellano and Bond initial estimator - we use 
* capture to get around this problem; this means some results rely on fewer imputed datasets


***** TABLE 1
eststo clear
quietly foreach n of numlist 1/10 {
  use "spendmi`n'.dta", clear
  xtset cowcode year
  g lagdeficit = L1.deficit
  capture eststo: xtlsdvc govspend $controls $trends, initial(ab) bias(3) vcov(500)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(L.govspend $controls) order(L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(L.govspend $controls) order(L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  lagdeficit "Deficit (lag)" pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")

g factor = .
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  eststo clear
  foreach n of numlist 1/10 {
    use "spendmi`n'.dta", clear
    xtset cowcode year
    g lagdeficit = L1.deficit
    drop if cowcode==350 | cowcode==395
    xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
    predict factor, b
    capture eststo: xtlsdvc govspend `x' $controls $trends, initial(ab) bias(3) vcov(500)
  }
  noisily estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(`x' L.govspend $controls) order(`x' L.govspend $controls) 
  noisily estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(`x' L.govspend $controls) order(L.govspend $controls `x') varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")
}

* Predicted effects at the median's change
display ( ln(91.7 + 1)-ln(9.7 + 1) ) * -1.0743
display ( ln(11.4 + 1)-ln(1.6 + 1) ) * -0.782
display ( ln(41.5 + 1)-ln(0.7 + 1) ) * -1.197








***** Imputed data: OLS estimation with lagged dependent variable and country fixed effects
eststo clear
quietly foreach n of numlist 1/10 { 
  use "spendmi`n'.dta", clear
  xtset cowcode year
  g lagdeficit = L1.deficit
  capture eststo: xtreg govspend L.govspend $controls $trends, fe vce(robust)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(L.govspend $controls) order(L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(L.govspend $controls) order(L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")

g factor = .
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  eststo clear
  foreach n of numlist 1/10 { 
    use "spendmi`n'.dta", clear
    xtset cowcode year
    g lagdeficit = L1.deficit
    drop if cowcode==350 | cowcode==395
    xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
    predict factor, b
    capture eststo: xtreg govspend L.govspend `x' $controls $trends, fe vce(robust)
  }
  noisily estout, cells(b(star fmt(3)) se(par)) stats(N N_g r2_w, fmt(0 0 3)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(`x' L.govspend $controls) order(`x' L.govspend $controls) 
  noisily estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g r2_w, fmt(0 0 3)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(`x' L.govspend $controls) order(L.govspend $controls `x') varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")
}









***** Imputed data: Arellano and Bond estimation
eststo clear
quietly foreach n of numlist 1/10 { 
  use "spendmi`n'.dta", clear
  xtset cowcode year
  g lagdeficit = L1.deficit
  capture eststo: xtabond govspend $controls $trends, lag(1) artest(6) vce(robust)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(L.govspend $controls) order(L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(L.govspend $controls) order(L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")

g factor = .
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  eststo clear
  foreach n of numlist 1/10 { 
    use "spendmi`n'.dta", clear
    xtset cowcode year
    g lagdeficit = L1.deficit
    drop if cowcode==350 | cowcode==395
    xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
    predict factor, b
    capture eststo: xtabond govspend `x' $controls $trends, lag(1) artest(6) vce(robust)
  }
  noisily estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(`x' L.govspend $controls) order(`x' L.govspend $controls) 
  noisily estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(`x' L.govspend $controls) order(L.govspend $controls `x') varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")
}








***** Imputed data: year dummies instead of time trends
eststo clear
quietly foreach n of numlist 1/10 { 
  use "spendmi`n'.dta", clear
  xtset cowcode year
  g lagdeficit = L1.deficit
  capture eststo: xi: xtlsdvc govspend $controls i.year, initial(ab) bias(3) vcov(500)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(L.govspend $controls) order(L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(L.govspend $controls) order(L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")

g factor = .
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  eststo clear
  foreach n of numlist 1/10 { 
    use "spendmi`n'.dta", clear
    xtset cowcode year
    g lagdeficit = L1.deficit
    drop if cowcode==350 | cowcode==395
    xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
    predict factor, b
    capture eststo: xi: xtlsdvc govspend `x' $controls i.year, initial(ab) bias(3) vcov(500)
  }
  noisily estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(`x' L.govspend $controls) order(`x' L.govspend $controls) 
  noisily estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(`x' L.govspend $controls) order(L.govspend $controls `x') varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic translag(1) artest(6)rs" autocons "Automatic consumption")
}








***** Imputed data: year dummies in addition to time trends
eststo clear
quietly foreach n of numlist 1/10 { 
  use "spendmi`n'.dta", clear
  xtset cowcode year
  g lagdeficit = L1.deficit
  capture eststo: xi: xtlsdvc govspend $controls $trends i.year, initial(ab) bias(3) vcov(500)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(L.govspend $controls) order(L.govspend $controls) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(L.govspend $controls) order(L.govspend $controls) varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")

g factor = .
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  eststo clear
  foreach n of numlist 1/10 { 
    use "spendmi`n'.dta", clear
    xtset cowcode year
    g lagdeficit = L1.deficit
    drop if cowcode==350 | cowcode==395
    xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
    predict factor, b
    capture eststo: xi: xtlsdvc govspend `x' $controls $trends i.year, initial(ab) bias(3) vcov(500)
  }
  noisily estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(`x' L.govspend $controls) order(`x' L.govspend $controls) 
  noisily estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(`x' L.govspend $controls) order(L.govspend $controls `x') varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")
}









****** Imputed data: instrumenting for globalization variables with orthogonal lags
* Note: cannot use robust SEs, and so AR tests not reported (but can check in robust models, and all fine)
drop factor
g factor = .
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  eststo clear
  foreach n of numlist 1/10 { 
    use "spendmi`n'.dta", clear
    xtset cowcode year
    g lagdeficit = L1.deficit
    drop if cowcode==350 | cowcode==395
    xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
    predict factor, b
    eststo: xtdpd govspend `x' L1.govspend $controls $trends, dgmmiv(govspend, lagrange(2)) dgmmiv(`x', lagrange(2)) div($controls $trends)
	estat sargan
  }
  noisily estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(`x' L.govspend $controls) order(`x' L.govspend $controls) 
  noisily estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0) labels("Observations" "Countries")) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(`x' L.govspend $controls) order(L.govspend $controls `x') varlabels(L.govspend "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")
}






****** Social benefit as dependent variable
eststo clear
quietly foreach n of numlist 1/10 { 
  use "spendmi`n'.dta", clear
  xtset cowcode year
  g lagdeficit = L1.deficit
  capture eststo: xtlsdvc socben $controlsben $trends, initial(ab) bias(3) vcov(500)
}
estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(L.socben $controlsben) order(L.socben $controlsben) 
estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(L.socben $controlsben) order(L.socben $controlsben) varlabels(L.socben "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers" autocons "Automatic consumption")

g factor = .
quietly foreach x of varlist logfdistock logfdiflow logportequ factor logtrade {
  eststo clear
  foreach n of numlist 1/10 { 
    use "spendmi`n'.dta", clear
    xtset cowcode year
    g lagdeficit = L1.deficit
    drop if cowcode==350 | cowcode==395
    xi: factor logfdistock logfdiflow logportequ i.cowcode, ipf
    predict factor, b
    capture eststo: xtlsdvc socben `x' $controlsben $trends, initial(ab) bias(3) vcov(500)
  }
  noisily estout, cells(b(star fmt(3)) se(par)) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") legend starlevels(* 0.10 ** 0.05 *** 0.01) keep(`x' L.socben $controlsben) order(`x' L.socben $controlsben) 
  noisily estout, style(fixed) delimiter(|) varwidth(0) modelwidth(0) cells(b(fmt(5)) se(fmt(5))) stats(N N_g, fmt(0 0)) mlabels("(1)" "(2)" "(3)" "(4)" "(5)" "(6)" "(7)" "(8)" "(9)" "(10)") keep(`x' L.socben $controlsben) order(L.socben $controlsben `x') varlabels(L.socben "LDV" deindust "Deindustrialization" govparty "Partisanship" deppop "Dependent population" deficit "Deficit" lagdeficit "Deficit (lag)"  pr "PR" unionlevel "Strength of labor" unexpgrowthpc "Unexpected growth" autotrans "Automatic transfers")
}