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 | Â | Â | Â | Â | Â |
 Total Number of Hospital Beds (100 s) | −0.017*** | 32.114*** | −0.009 | 32.204*** | 0.122 |
 | (-3.07) | (25.74) | (-1.38) | (25.66) | (1.64) |
 Medical Lab Employment (100 s) | - | - | −0.024*** | - | −0.432* |
 | - | - | (-3.37) | - | (1.88) |
 Population Density (1,000 s per Square Mile) | 0.045 | 7.659* | 0.047 | 7.942* | 0.078* |
 | (1.38) | (1.70) | (1.44) | (1.77) | (1.88) |
 Area (1,000 s of Square Miles) | 0.075*** | −18.726*** | 0.071** | 18.258*** | −0.006 |
 | (2.57) | (-13.18) | (2.46) | (-12.52) | (-0.12) |
 Average Hospital Size (100 s of Beds) | −0.294** | −63.089*** | −0.309** | −6.050*** | −0.568*** |
 | (-2.03) | (-6.18) | (-2.16) | (-5.79) | (-2.68) |
 Lab Technician Licensing Laws | - | - | - | −63.36*** | - |
 | - | - | - | (-3.53) | - |
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 | 6309 | 6326 | 6309 | 6309 | 6309 |
R-squared | 0.038 | 0.518 | 0.039 | 0.514 | - |
Root MSE | 8.212 | 457.170 | 8.212 | 457.231 | 8.379 |
First-stage F-statistics | - | - | - | 12.524 | |
Wooldridge Robust Score Test | - | - | - | 4.095 |