From: The impact of agglomeration economies on hospital input prices
Model | OLS | OLS | OLS | 2SLS | |
---|---|---|---|---|---|
1st stage | 2nd stage | ||||
Dependent variable | Average price | Lab employment | Average price | Lab employment | Average price |
 | (1) | (2) | (3) | (4) | (5) |
Independent variables | |||||
 Total Number of Hospital Beds (100 s) | −0.048*** | 32.085*** | −0.028*** | 32.162*** | 0.681*** |
 | (-7.15) | (25.77) | (-3.82) | (25.69) | (2.86) |
 Medical Lab Employment (100 s) | - | - | −0.0632*** | - | −2.273*** |
 | - | - | (-5.44) | - | (-3.05) |
 Population Density (1,000 s per Square Mile) | 0.229*** | 7.622* | 0.234*** | 7.859* | 0.403*** |
 | (4.89) | (1.69) | (5.02) | (1.75) | (3.40) |
 Area (1,000 s of Square Miles) | 0.257*** | −18.468*** | 0.245*** | −18.063*** | −0.165 |
 | (8.00) | (-13.09) | (7.61) | (-12.49) | (-1.13) |
 Average Hospital Size (100 s of Beds) | −0.419*** | −63.206*** | −0.459*** | −60.800*** | −1.864*** |
 | (-3.65) | (-6.20) | (-3.98) | (-5.81) | (-3.19) |
 Lab Technician Licensing Laws | - | - | - | −60.772*** | - |
 | - | - | - | (-3.39) | - |
Demographic Controlsa | YES | YES | YES | YES | YES |
Year Trend | YES | NO | YES | YES | YES |
Region Fixed Effect | YES | YES | YES | YES | YES |
Year Trend × Region Fixed Effect | YES | NO | YES | YES | YES |
No. of observations | 6334 | 6344 | 6334 | 6334 | 6334 |
R-squared | 0.209 | 0.515 | 0.210 | 0.515 | - |
Root MSE | 6.379 | 456.31 | 6.373 | 456.31 | 11.88 |
First-stage F-statistics | - | - | - | 11.508 | |
Wooldridge Robust Score Test | - | - | - | 33.874 |