	(1)	(2)	(3)	(4)
VARIABLES	frate	frate	frate	frate
				
jd	-0.522			
	(0.711)			
jd_cont		-0.470		
		(0.998)		
jd_deaths			-3.528	
			(2.255)	
jr				-0.128
				(0.448)
				
Observations	48	48	48	48
R-squared	0.971	0.970	0.971	0.970
Robust standard errors in parentheses				
*** p<0.01, ** p<0.05, * p<0.1				
Replication of Davis et al. (2010).				
Data in 3-yr periods from 1993-2005.				
Includes time and sector fixed effects, with seven industry sectors.				
