Table 3 Table for test of threshold method for the cases that ignore or take into account the firm heterogeneity (HF). The table only includes \(\Delta t=2\), as other values of Δt have only a minor effect on the probability densities \(\wp,\wp ^{(\mathrm{HF})}\), and \(\wp _{\mathcal{W}}\). We show a selection of years for each of the three values of \(\mathcal{W}=1,2,3\). Note that the p-values are exceedingly small for both tests
t | \(\mathcal{W}\) | \(|\mathcal{N}^{*}_{\mathcal{W}}|\) | \(|\mathcal{E}^{*}_{\mathcal{W}}|\) | \(|\bar{\mathcal{E}}^{*}_{1}|\) | \(\mu =\langle |\mathcal{E}^{*}_{\mathcal{W}}\cap \bar{\mathcal{E}}^{*}_{1}|\rangle\) (ln[p-value]) | \(\mu _{\mathrm{HF}}=\langle |\mathcal{E}^{*}_{\mathcal{W}}\cap \bar{\mathcal{S}}^{*}_{1}|\rangle \) (ln[p-value]) | \(|\mathcal{E}^{*}_{\mathcal{W}}\cap \bar{\mathcal{E}}^{*}_{1}|\) |
|---|---|---|---|---|---|---|---|
1990 | 1 | 20,181 | 49,855 | 25,213 | \( 6.17\ (-3.16\times 10^{6}) \) | \( 1144.30\ (-1.78\times 10^{4}) \) | 6253 |
1995 | 1 | 22,707 | 33,398 | 39,424 | \( 5.11\ (-3.50\times 10^{6}) \) | \( 975.66\ (-2.01\times 10^{4}) \) | 5986 |
2000 | 1 | 32,913 | 68,225 | 64,381 | \( 8.11\ (-6.83\times 10^{6}) \) | \( 1793.58\ (-3.56\times 10^{4}) \) | 10,532 |
2005 | 1 | 40,037 | 72,123 | 88,335 | \( 7.95\ (-8.64\times 10^{6}) \) | \( 2278.98\ (-3.15\times 10^{4}) \) | 11,727 |
1990 | 2 | 6505 | 7584 | 12,986 | \( 4.66\ (-7.08\times 10^{5}) \) | \( 516.73\ (-9.23\times 10^{3}) \) | 2571 |
1995 | 2 | 5200 | 4470 | 16,817 | \( 5.56\ (-3.51\times 10^{5}) \) | \( 398.19\ (-6.93\times 10^{3}) \) | 1981 |
2000 | 2 | 7888 | 8462 | 27,800 | \( 7.56\ (-8.92\times 10^{5}) \) | \( 761.25\ (-1.40\times 10^{4}) \) | 3680 |
2005 | 2 | 8584 | 7630 | 38,601 | \( 8.00\ (-7.95\times 10^{5}) \) | \( 830.87\ (-1.09\times 10^{4}) \) | 3573 |
1990 | 3 | 3488 | 3202 | 8494 | \( 4.47\ (-2.61\times 10^{5}) \) | \( 340.20\ (-5.18\times 10^{3}) \) | 1532 |
1995 | 3 | 2631 | 1853 | 10,403 | \( 5.57\ (-9.83\times 10^{4}) \) | \( 219.36\ (-4.84\times 10^{3}) \) | 1052 |
2000 | 3 | 3716 | 3263 | 17,121 | \( 8.09\ (-2.37\times 10^{5}) \) | \( 448.39\ (-7.86\times 10^{3}) \) | 1967 |
2005 | 3 | 4388 | 2826 | 25,735 | \( 7.56\ (-2.10\times 10^{5}) \) | \( 474.05\ (-5.33\times 10^{3}) \) | 1789 |