highly significantP <0.0001
The F -test of the model specification was highly significant ( P <0.0001), in favor of the random effect model over the pooled OLS regression.
The F -test of the model specification was highly significant ( P <0.0001), in favor of the random effect model over the pooled OLS regression.
The elasticity of the interaction term in small cities was also negative and marginally significant (ε = −1.4133, P = 0.052 for the fixed effect model; ε = −0.9690, P = 0.065 for the random effect model).