(1)	(2)	(3)	(4)	(5)
VARIABLES	LABELS	Unemployment rate	Unemployment rate	Unemployment rate	Unemployment rate	Unemployment rate
						
_Iarea_id_2	area_id==2	-0.344***	-0.281***	-0.350***	-0.333***	-0.257***
		[0.049]	[0.030]	[0.035]	[0.042]	[0.032]
_Iarea_id_3	area_id==3	-0.701***	-0.644***	-0.714***	-0.619***	-0.635***
		[0.040]	[0.025]	[0.031]	[0.039]	[0.027]
_Iarea_id_4	area_id==4	-0.446***	-0.404***	-0.452***	-0.373***	-0.414***
		[0.016]	[0.013]	[0.018]	[0.028]	[0.014]
_Iarea_id_5	area_id==5	-0.833***	-0.772***	-0.771***	-0.710***	-0.770***
		[0.049]	[0.030]	[0.030]	[0.028]	[0.032]
_Iarea_id_8	area_id==8	0.357***	0.377***	0.338***	0.444***	0.331***
		[0.017]	[0.015]	[0.018]	[0.023]	[0.017]
_Iarea_id_9	area_id==9	-0.848***	-0.846***	-0.898***	-0.788***	-0.850***
		[0.002]	[0.002]	[0.014]	[0.024]	[0.002]
_Iarea_id_10	area_id==10	0.417***	0.418***	0.439***	0.548***	0.418***
		[0.002]	[0.001]	[0.006]	[0.010]	[0.002]
_Iarea_id_11	area_id==11	-0.097***	-0.101***	-0.100***	-0.038***	-0.108***
		[0.006]	[0.004]	[0.004]	[0.008]	[0.004]
_Iarea_id_12	area_id==12	0.621***	0.671***	0.640***	0.728***	0.676***
		[0.029]	[0.019]	[0.021]	[0.023]	[0.021]
_Iarea_id_13	area_id==13	1.179***	1.232***	1.165***	1.342***	1.210***
		[0.032]	[0.021]	[0.027]	[0.038]	[0.022]
_Iarea_id_14	area_id==14	-1.784***	-1.737***	-1.764***	-1.733***	-1.745***
		[0.025]	[0.017]	[0.019]	[0.022]	[0.018]
_Iarea_id_15	area_id==15	-0.366***	-0.303***	-0.355***	-0.254***	-0.292***
		[0.049]	[0.031]	[0.033]	[0.037]	[0.033]
_Iarea_id_16	area_id==16	-1.863***	-1.812***	-1.759***	-1.770***	-1.814***
		[0.018]	[0.017]	[0.022]	[0.030]	[0.018]
_Iarea_id_17	area_id==17	0.003	0.067**	0.098***	0.156***	0.085***
		[0.037]	[0.024]	[0.026]	[0.029]	[0.026]
_Iarea_id_18	area_id==18	-0.783***	-0.693***	-0.681***	-0.708***	-0.658***
		[0.081]	[0.049]	[0.050]	[0.051]	[0.052]
o._Iarea_id_19	area_id==19 = o,					-
						
_Iarea_id_20	area_id==20	-0.548***	-0.493***	-0.496***	-0.453***	-0.475***
		[0.023]	[0.018]	[0.019]	[0.019]	[0.020]
_Iarea_id_21	area_id==21	-0.908***	-0.841***	-0.892***	-0.800***	-0.830***
		[0.041]	[0.027]	[0.030]	[0.035]	[0.028]
_Iarea_id_22	area_id==22	-0.500***	-0.428***	-0.424***	-0.428***	-0.407***
		[0.051]	[0.032]	[0.032]	[0.031]	[0.034]
_Iarea_id_23	area_id==23	-0.886***	-0.984***	-1.012***	-1.071***	-0.852***
		[0.110]	[0.074]	[0.076]	[0.095]	[0.067]
_Iarea_id_24	area_id==24	-1.063***	-1.034***	-1.020***	-0.919***	-1.066***
		[0.007]	[0.010]	[0.011]	[0.011]	[0.011]
_Iarea_id_25	area_id==25	0.801***	0.851***	0.799***	0.951***	0.879***
		[0.037]	[0.023]	[0.027]	[0.032]	[0.026]
_Iarea_id_26	area_id==26	-0.659***	-0.625***	-0.599***	-0.531***	-0.649***
		[0.012]	[0.011]	[0.013]	[0.016]	[0.012]
_Iarea_id_28	area_id==28	-0.532***	-0.507***	-0.601***	-0.518***	-0.521***
		[0.012]	[0.013]	[0.027]	[0.045]	[0.014]
_Iarea_id_29	area_id==29	-0.235***	-0.199***	-0.248***	-0.179***	-0.193***
		[0.014]	[0.012]	[0.017]	[0.026]	[0.013]
_Iarea_id_30	area_id==30	-2.065***	-2.036***	-1.960***	-1.936***	-2.044***
		[0.009]	[0.011]	[0.023]	[0.036]	[0.011]
_Iarea_id_31	area_id==31	0.428***	0.467***	0.547***	0.504***	0.464***
		[0.024]	[0.016]	[0.026]	[0.038]	[0.017]
d3yrdef	d3yrdef					-0.001
						[0.024]
_IareXd3yr_2	(area_id==2)*d3yrdef					0.137***
						[0.001]
_IareXd3yr_3	(area_id==3)*d3yrdef					0.199***
						[0.001]
_IareXd3yr_4	(area_id==4)*d3yrdef					0.180***
						[0.001]
_IareXd3yr_5	(area_id==5)*d3yrdef					0.206***
						[0.001]
_IareXd3yr_8	(area_id==8)*d3yrdef					0.273***
						[0.006]
_IareXd3yr_9	(area_id==9)*d3yrdef					0.103***
						[0.003]
_IareXd3yr_10	(area_id==10)*d3yrdef					-0.018***
						[0.004]
_IareXd3yr_11	(area_id==11)*d3yrdef					0.020***
						[0.003]
_IareXd3yr_12	(area_id==12)*d3yrdef					0.124***
						[0.001]
_IareXd3yr_13	(area_id==13)*d3yrdef					0.375***
						[0.003]
_IareXd3yr_14	(area_id==14)*d3yrdef					0.194***
						[0.001]
_IareXd3yr_15	(area_id==15)*d3yrdef					0.206***
						[0.003]
_IareXd3yr_16	(area_id==16)*d3yrdef					-0.008
						[0.006]
_IareXd3yr_17	(area_id==17)*d3yrdef					-0.021***
						[0.003]
_IareXd3yr_18	(area_id==18)*d3yrdef					0.117***
						[0.007]
_IareXd3yr_19	(area_id==19)*d3yrdef					0.174***
						[0.009]
_IareXd3yr_20	(area_id==20)*d3yrdef					-0.047***
						[0.005]
_IareXd3yr_21	(area_id==21)*d3yrdef					0.162***
						[0.003]
_IareXd3yr_22	(area_id==22)*d3yrdef					0.068***
						[0.002]
_IareXd3yr_23	(area_id==23)*d3yrdef					0.062***
						[0.014]
_IareXd3yr_24	(area_id==24)*d3yrdef					0.194***
						[0.010]
_IareXd3yr_25	(area_id==25)*d3yrdef					0.038***
						[0.007]
_IareXd3yr_26	(area_id==26)*d3yrdef					0.167***
						[0.005]
_IareXd3yr_28	(area_id==28)*d3yrdef					0.147***
						[0.004]
_IareXd3yr_29	(area_id==29)*d3yrdef					0.067***
						[0.007]
_IareXd3yr_30	(area_id==30)*d3yrdef					-0.027***
						[0.006]
_IareXd3yr_31	(area_id==31)*d3yrdef					0.025***
						[0.005]
lpic	First lag	-0.247***	-0.212***	-0.212***	-0.211***	-0.170***
		[0.059]	[0.037]	[0.037]	[0.033]	[0.039]
epi	1 year ahead inflation expectations	0.265**	-0.167	-0.163	-0.031	-0.168
		[0.109]	[0.142]	[0.145]	[0.160]	[0.151]
seas1	area_id==     1.0000	-0.570***	-0.575***	-0.577***	-0.576***	-0.580***
		[0.001]	[0.002]	[0.002]	[0.007]	[0.001]
seas2	area_id==     2.0000	-0.458***	-0.468***	-0.471***	-0.483***	-0.492***
		[0.028]	[0.019]	[0.018]	[0.025]	[0.020]
seas3	area_id==     3.0000	-0.366***	-0.378***	-0.382***	-0.392***	-0.403***
		[0.033]	[0.021]	[0.021]	[0.024]	[0.023]
seas4	area_id==     4.0000	-0.408***	-0.392***	-0.394***	-0.405***	-0.380***
		[0.017]	[0.010]	[0.010]	[0.008]	[0.011]
seas5	area_id==     5.0000	-0.143***	-0.151***	-0.154***	-0.160***	-0.166***
		[0.027]	[0.018]	[0.018]	[0.020]	[0.019]
seas6	area_id==     8.0000	-0.495***	-0.497***	-0.499***	-0.523***	-0.482***
		[0.011]	[0.008]	[0.007]	[0.009]	[0.008]
seas7	area_id==     9.0000	-0.262***	-0.265***	-0.268***	-0.256***	-0.266***
		[0.005]	[0.004]	[0.003]	[0.009]	[0.003]
seas8	area_id==    10.0000	-0.149***	-0.162***	-0.164***	-0.170***	-0.178***
		[0.014]	[0.009]	[0.009]	[0.012]	[0.010]
seas9	area_id==    11.0000	-0.325***	-0.312***	-0.314***	-0.323***	-0.294***
		[0.031]	[0.020]	[0.020]	[0.016]	[0.021]
seas10	area_id==    12.0000	-0.451***	-0.448***	-0.451***	-0.479***	-0.455***
		[0.007]	[0.006]	[0.006]	[0.008]	[0.007]
seas11	area_id==    13.0000	-0.140***	-0.140***	-0.143***	-0.179***	-0.138***
		[0.011]	[0.008]	[0.008]	[0.016]	[0.009]
seas12	area_id==    14.0000	-0.347***	-0.350***	-0.353***	-0.355***	-0.361***
		[0.018]	[0.012]	[0.012]	[0.016]	[0.013]
seas13	area_id==    15.0000	-0.150***	-0.165***	-0.168***	-0.170***	-0.191***
		[0.038]	[0.025]	[0.024]	[0.029]	[0.027]
seas14	area_id==    16.0000	-0.069***	-0.064***	-0.065***	-0.079***	-0.075***
		[0.010]	[0.008]	[0.008]	[0.008]	[0.009]
seas15	area_id==    17.0000	0.533***	0.497***	0.495***	0.521***	0.434***
		[0.079]	[0.050]	[0.050]	[0.050]	[0.054]
seas16	area_id==    18.0000	0.274***	0.238***	0.236***	0.262***	0.181***
		[0.080]	[0.050]	[0.050]	[0.052]	[0.054]
seas17	area_id==    19.0000	0.248***	0.282***	0.278***	0.278***	0.249***
		[0.065]	[0.039]	[0.039]	[0.045]	[0.041]
seas18	area_id==    20.0000	-0.139***	-0.133***	-0.136***	-0.146***	-0.149***
		[0.008]	[0.007]	[0.007]	[0.010]	[0.008]
seas19	area_id==    21.0000	-0.003	-0.006	-0.009	-0.027	-0.023
		[0.022]	[0.015]	[0.015]	[0.018]	[0.016]
seas20	area_id==    22.0000	0.273***	0.245***	0.242***	0.250***	0.194***
		[0.066]	[0.042]	[0.042]	[0.045]	[0.045]
seas21	area_id==    23.0000	0.510***	0.453***	0.453***	0.544***	0.375***
		[0.102]	[0.064]	[0.064]	[0.084]	[0.068]
seas22	area_id==    24.0000	-0.214***	-0.242***	-0.244***	-0.257***	-0.261***
		[0.036]	[0.022]	[0.022]	[0.022]	[0.023]
seas23	area_id==    25.0000	0.272***	0.237***	0.234***	0.228***	0.197***
		[0.046]	[0.029]	[0.029]	[0.031]	[0.031]
seas24	area_id==    26.0000	0.125***	0.097***	0.095***	0.116***	0.076***
		[0.036]	[0.022]	[0.022]	[0.025]	[0.024]
seas25	area_id==    28.0000	-0.102***	-0.111***	-0.115***	-0.117***	-0.117***
		[0.003]	[0.004]	[0.003]	[0.013]	[0.003]
seas26	area_id==    29.0000	0.246***	0.212***	0.209***	0.245***	0.175***
		[0.044]	[0.027]	[0.027]	[0.034]	[0.030]
seas27	area_id==    30.0000	0.020	0.006	0.006	0.036***	-0.005
		[0.013]	[0.008]	[0.008]	[0.009]	[0.009]
seas28	area_id==    31.0000	-0.671***	-0.688***	-0.689***	-0.693***	-0.701***
		[0.019]	[0.012]	[0.012]	[0.012]	[0.013]
o._Iarea_id_2	area_id==2 = o,					-
						
o._Iarea_id_3	area_id==3 = o,					-
						
o._Iarea_id_4	area_id==4 = o,					-
						
o._Iarea_id_5	area_id==5 = o,					-
						
o._Iarea_id_8	area_id==8 = o,					-
						
o._Iarea_id_9	area_id==9 = o,					-
						
o._Iarea_id_10	area_id==10 = o,					-
						
o._Iarea_id_11	area_id==11 = o,					-
						
o._Iarea_id_12	area_id==12 = o,					-
						
o._Iarea_id_13	area_id==13 = o,					-
						
o._Iarea_id_14	area_id==14 = o,					-
						
o._Iarea_id_15	area_id==15 = o,					-
						
o._Iarea_id_16	area_id==16 = o,					-
						
o._Iarea_id_17	area_id==17 = o,					-
						
o._Iarea_id_18	area_id==18 = o,					-
						
_Iarea_id_19	area_id==19	-0.479***	-0.320***	-0.307***	-0.247***	-0.428***
		[0.044]	[0.048]	[0.049]	[0.060]	[0.045]
o._Iarea_id_20	area_id==20 = o,					-
						
o._Iarea_id_21	area_id==21 = o,					-
						
o._Iarea_id_22	area_id==22 = o,					-
						
o._Iarea_id_23	area_id==23 = o,					-
						
o._Iarea_id_24	area_id==24 = o,					-
						
o._Iarea_id_25	area_id==25 = o,					-
						
o._Iarea_id_26	area_id==26 = o,					-
						
o._Iarea_id_28	area_id==28 = o,					-
						
o._Iarea_id_29	area_id==29 = o,					-
						
o._Iarea_id_30	area_id==30 = o,					-
						
o._Iarea_id_31	area_id==31 = o,					-
						
o._Iyear_1985	year==1985 = o,		-	-	-	-
						
o._Iyear_1986	year==1986 = o,		-	-	-	-
						
o._Iyear_1987	year==1987 = o,		-	-	-	-
						
o._Iyear_1988	year==1988 = o,		-	-	-	-
						
o._Iyear_1989	year==1989 = o,		-	-	-	-
						
_Iyear_1990	year==1990		0.145	0.262	-0.422	0.343
			[0.260]	[0.277]	[0.338]	[0.313]
_Iyear_1991	year==1991		1.336***	1.374***	0.995**	1.507***
			[0.289]	[0.293]	[0.405]	[0.315]
_Iyear_1992	year==1992		1.871***	1.905***	1.338***	2.072***
			[0.278]	[0.280]	[0.448]	[0.275]
_Iyear_1993	year==1993		1.448***	1.558***	1.007**	1.654***
			[0.279]	[0.291]	[0.438]	[0.317]
_Iyear_1994	year==1994		0.869***	0.932***	0.601	1.058***
			[0.291]	[0.297]	[0.380]	[0.356]
_Iyear_1995	year==1995		0.300	0.449	0.093	0.498
			[0.274]	[0.294]	[0.364]	[0.331]
_Iyear_1996	year==1996		-0.010	0.167	0.003	0.204
			[0.263]	[0.285]	[0.333]	[0.323]
_Iyear_1997	year==1997		-0.633**	-0.490*	-0.576*	-0.397
			[0.256]	[0.273]	[0.329]	[0.284]
_Iyear_1998	year==1998		-1.211***	-1.064***	-0.933***	-0.957***
			[0.232]	[0.250]	[0.290]	[0.248]
_Iyear_1999	year==1999		-1.600***	-1.481***	-1.246***	-1.324***
			[0.208]	[0.222]	[0.289]	[0.218]
_Iyear_2000	year==2000		-1.464***	-1.344***	-1.084***	-1.203***
			[0.183]	[0.197]	[0.287]	[0.253]
_Iyear_2001	year==2001		-0.943***	-0.880***	-0.551***	-0.672***
			[0.100]	[0.108]	[0.178]	[0.169]
_Iyear_2002	year==2002					0.293**
						[0.109]
o._Iyear_2003	year==2003 = o,					-
						
_Iyear_2004	year==2004		-0.918***	-0.761***	-0.923***	-0.520***
			[0.165]	[0.156]	[0.171]	[0.114]
_Iyear_2005	year==2005		-1.003***	-0.791***	-0.873***	-0.655***
			[0.177]	[0.182]	[0.242]	[0.164]
_Iyear_2006	year==2006		-1.113***	-0.955***	-0.723**	-0.804***
			[0.180]	[0.197]	[0.297]	[0.179]
_Iyear_2007	year==2007		-0.958***	-0.786***	-0.738***	-0.675***
			[0.199]	[0.223]	[0.258]	[0.231]
_Iyear_2008	year==2008		0.035	0.182	-0.258	0.351
			[0.262]	[0.273]	[0.304]	[0.337]
_Iyear_2009	year==2009		2.754***	2.891***	2.558***	3.120***
			[0.255]	[0.271]	[0.310]	[0.307]
_Iyear_2010	year==2010		2.884***	2.945***	2.399***	3.288***
			[0.239]	[0.243]	[0.418]	[0.283]
_Iyear_2011	year==2011		2.666***	2.830***	2.039***	3.019***
			[0.279]	[0.293]	[0.499]	[0.358]
_Iyear_2012	year==2012		2.248***	2.427***	1.948***	2.525***
			[0.278]	[0.305]	[0.456]	[0.332]
_Iyear_2013	year==2013		1.972***	2.189***	1.829***	2.211***
			[0.336]	[0.376]	[0.436]	[0.321]
_Iyear_2014	year==2014		0.950***	1.069***	0.916**	1.187***
			[0.318]	[0.339]	[0.396]	[0.307]
_Iyear_2015	year==2015		-0.048	0.042	-0.049	0.193
			[0.256]	[0.269]	[0.314]	[0.256]
_Iyear_2016	year==2016		-0.604***	-0.536**		-0.356
			[0.216]	[0.222]		[0.211]
_Iyear_2017	year==2017		-1.197***	-1.117***		-0.927***
			[0.199]	[0.204]		[0.200]
o._Iyear_2018	year==2018 = o,		-	-	-	-
						
bartik_mp	bartik_mp				0.346	
					[0.429]	
L.bartik_mp	bartik_mp = L,				1.299*	
					[0.728]	
L2.bartik_mp	bartik_mp = L,				2.832***	
					[0.551]	
L3.bartik_mp	bartik_mp = L,				0.997	
					[0.605]	
L4.bartik_mp	bartik_mp = L,				1.360***	
					[0.457]	
L5.bartik_mp	bartik_mp = L,				2.434***	
					[0.783]	
L6.bartik_mp	bartik_mp = L,				1.569*	
					[0.787]	
F.bartik_mp	bartik_mp = F,				2.657***	
					[0.441]	
F2.bartik_mp	bartik_mp = F,				-0.956**	
					[0.446]	
F3.bartik_mp	bartik_mp = F,				-1.778**	
					[0.773]	
F4.bartik_mp	bartik_mp = F,				-1.135	
					[0.897]	
F5.bartik_mp	bartik_mp = F,				-1.719*	
					[0.965]	
F6.bartik_mp	bartik_mp = F,				-2.265*	
					[1.239]	
o._Iyear_2002	year==2002 = o,		-	-	-	
						
_Iyear_2003	year==2003		-0.375***	-0.292***	-0.283***	
			[0.103]	[0.093]	[0.100]	
o._Iyear_2016	year==2016 = o,				-	
						
o._Iyear_2017	year==2017 = o,				-	
						
bartik_defmp3y	bartik_defmp3y	10.247***	9.237***			
		[1.158]	[2.104]			
bartik_mp3y	bartik_mp3y			11.027***		
				[2.434]		
						
Observations		1,525	1,525	1,525	1,413	1,525
R-squared		0.296	0.828	0.828	0.836	0.849
Metro area FE		Yes	Yes	Yes	Yes	Yes
Year FE		No	Yes	Yes	Yes	Yes
Seasonal dummies		Yes	Yes	Yes	Yes	Yes
Instrument		3 year Bartik	3 year Bartik	3 year Bartik	3 year Bartik	3 year Bartik
1st stage F-stat		10.4	10.4	10.4	10.4 Sum	10.4
r(estimate					,	
,					)	
Robust standard errors in brackets						
*** p<0.01, ** p<0.05, * p<0.1