T able 2. Open in new tab Robustness...

	(1)	(2)	(3)	(4)	(5)
Panel A: Least Squares	Dependent variable: Subjective evaluation of living conditions
Treatment	−0.09***	−0.09**	−0.15***	−0.14**	−0.13**
	(0.028)	(0.02)	(0.024)	(0.021)	(0.044)
Excluding Gaborone	Yes	Yes	No	No	No
Sample centered on discontinuity	No	Yes	No	Yes	No
Excluding urban respondents	No	No	Yes	Yes	No
Excluding rural respondents	No	No	No	No	Yes
Observations	1,063	176	679	128	519
R-squared	0.008	0.027	0.016	0.045	0.051
Panel B: Ordered logit
Treatment	−0.63***	−0.64**	−1.06***	−0.89***	−0.61*
	(0.173)	(0.091)	(0.129)	(0.114)	(0.317)

	(1)	(2)	(3)	(4)	(5)
Panel A: Least Squares	Dependent variable: Subjective evaluation of living conditions
Treatment	−0.09***	−0.09**	−0.15***	−0.14**	−0.13**
	(0.028)	(0.02)	(0.024)	(0.021)	(0.044)
Excluding Gaborone	Yes	Yes	No	No	No
Sample centered on discontinuity	No	Yes	No	Yes	No
Excluding urban respondents	No	No	Yes	Yes	No
Excluding rural respondents	No	No	No	No	Yes
Observations	1,063	176	679	128	519
R-squared	0.008	0.027	0.016	0.045	0.051
Panel B: Ordered logit
Treatment	−0.63***	−0.64**	−1.06***	−0.89***	−0.61*
	(0.173)	(0.091)	(0.129)	(0.114)	(0.317)

Table 2.

Robustness Tests

	(1)	(2)	(3)	(4)	(5)
Panel A: Least Squares	Dependent variable: Subjective evaluation of living conditions
Treatment	−0.09***	−0.09**	−0.15***	−0.14**	−0.13**
	(0.028)	(0.02)	(0.024)	(0.021)	(0.044)
Excluding Gaborone	Yes	Yes	No	No	No
Sample centered on discontinuity	No	Yes	No	Yes	No
Excluding urban respondents	No	No	Yes	Yes	No
Excluding rural respondents	No	No	No	No	Yes
Observations	1,063	176	679	128	519
R-squared	0.008	0.027	0.016	0.045	0.051
Panel B: Ordered logit
Treatment	−0.63***	−0.64**	−1.06***	−0.89***	−0.61*
	(0.173)	(0.091)	(0.129)	(0.114)	(0.317)

	(1)	(2)	(3)	(4)	(5)
Panel A: Least Squares	Dependent variable: Subjective evaluation of living conditions
Treatment	−0.09***	−0.09**	−0.15***	−0.14**	−0.13**
	(0.028)	(0.02)	(0.024)	(0.021)	(0.044)
Excluding Gaborone	Yes	Yes	No	No	No
Sample centered on discontinuity	No	Yes	No	Yes	No
Excluding urban respondents	No	No	Yes	Yes	No
Excluding rural respondents	No	No	No	No	Yes
Observations	1,063	176	679	128	519
R-squared	0.008	0.027	0.016	0.045	0.051
Panel B: Ordered logit
Treatment	−0.63***	−0.64**	−1.06***	−0.89***	−0.61*
	(0.173)	(0.091)	(0.129)	(0.114)	(0.317)

Sources: Authors' analysis based on data sources discussed in text. Treatment denotes the Pula devaluation. Days before devaluation are coded as 0; days after devaluations are coded as 1. All models contain a constant term (not reported to save space). Robust standard errors clustered at the region level in parentheses. *** p < .01, ** p < .05, * p < .1.

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