Modeling industrial location decisions in U.S. counties

Variables

Conditional Logit Model / Poisson Regression

Without County Effects

With County Effects

Random Effects

Fixed Effects

Labor Costs

Land Costs

Taxes

Market Size

Localization Economies

Urbanization Economies

State Dummies

-0.4643*

[-13.818]

-0.8061*

[-46.735]

-0.2606*

[-28.880]

1.0129*

[227.407]

0.1345*

[52.697]

0.5563*

[34.571]
No

-0.4393*

[-10.938]

-0.7058*

[-35.084]

-0.3395*

[-22.683]

0.9266*

[145.482]

0.1283*

[52.494]

0.5444*

[30.242]

_________Yes

-0.2225*

[-3.047]

-0.4989*

[-13.198]

-0.1602*

[-8.993]

0.8417*

52.052]

0.1199*

57.512]

0.2816*

[7.557]

_______No

-0.2504*

[-3.336]

-0.4199*

[-10.077]

-0.1130*

[-4.575]

0.7496*

36.949]

0.1192*

57.126]
0.3027*

[7.921]

_________Yes

-0.1308

[-0.820]

0.2557

[1.635]

-0.1106*

[-3.166]

-0.0616

[-0.463]

0.1172*

[57.768]

0.2006***

[1.881]

-

Log-Likelihood

Nobs = J × K × T

δ (χ²)________________________

-73696.38

122520

-

-72543.9

122520

-

-70680.7

122520

0.1663 (6031.4)

-70472.7

122520

0.1308 (4142.4)

-62211.92

109560

-