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B. Panel, Estimations from models (1) and (2) in Panel A Countries Load No Load Difference Chi-2 P-Val Italy

C. Panel, Estimations from model (3) in Panel A Load No Load Difference T-stat P-Val Italy

. Strat, FE Yes Yes Yes No. of obs, p.2292

B. Panel, Estimations from models (1) and (2) in Panel A Load No Load Difference Chi-2 P-Val Italy

C. Panel, Estimations from model (3) in Panel A Load No Load Difference T-stat P-Val Italy

. Strat and . Fe, Yes Yes Yes Yes No. of obs, p.150