Full text: The political economy of income distribution: industry level evidence from Austria (156)

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5. Estimation Results 
 
5.1 Estimation Results for Austria 
Table 2 shows our estimation results for Austria for the total pool, while Table 2 reports the 
results for manufacturing and services separately.  
We estimate specifications (1) to (3) at the 2-digit level while specifications (4) to (8) is 
estimated at the 1-digit level. We separately estimate the effect of increasing import 
penetration and outward FDI on the wage share, while controlling for union density and 
individual government spending at the country level in specifications (1) to (6). To avoid 
multicollinearity we estimate specifications with union density and government spending 
separately and exclude union density from specifications (7) and (8) since it’s strongly 
correlated with other country-level variables (negative correlation below -0.9 for Austria).
        

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