Table 12 Variance inflation factor (VIF) for the regressors
Variables | Without FE | Cantonal FE | Cantonal and Time FE |
|---|---|---|---|
AD(− 1) | 1.16 | 1.39 | 1.62 |
Balance(− 1) | 1.29 | 1.42 | 1.75 |
Misestimation | 1.11 | 1.26 | 1.44 |
Growth | 1.07 | 1.12 | 2.26 |
Unemployment | 1.62 | 2.17 | 9.66 |
Elderly | 1.25 | 5.37 | 8.27 |
Leaning | 1.29 | 2.81 | 2.99 |
Fragmentation | 1.65 | 5.85 | 6.32 |
Concordance | 1.70 | 7.36 | 7.53 |
Departments | 1.31 | 3.11 | 3.76 |
Election | 1.08 | 1.14 | 1.18 |
Initiative | 1.88 | 35.06 | 38.01 |
Referendum | 1.85 | 8.09 | 8.72 |
Rules | 1.10 | 3.88 | 4.82 |
Mean VIF | 1.38 | 4.93 | 5.14 |