UQO Working Paper No. 9 — A grand hedonic model of the Canadian housing market: decomposing structure and location value.
1\begin{table}[htbp]\centering2\caption{Grand-model coefficients under alternative variance estimators}3\label{tab:se_comparison}4\begin{threeparttable}\small5\begin{tabular}{lcccccc}6\toprule7 & & \multicolumn{4}{c}{Standard error} & Wild-cluster \\8\cmidrule(lr){3-6}9 & Coef. & HC1 & \makecell{FSA\\($G=1,155$)} & \makecell{Province\\($G=9$)} & Two-way & $p$-value \\10\midrule11$\ln$ living area & 0.529 & 0.0037 & 0.0094 & 0.0373 & 0.0375 & 0.004 \\12Full bathrooms & 0.112 & 0.0016 & 0.0038 & 0.0120 & 0.0121 & 0.004 \\13Half bathrooms & -0.034 & 0.0021 & 0.0066 & 0.0315 & 0.0316 & 0.523 \\14Bedrooms & -0.006 & 0.0011 & 0.0021 & 0.0084 & 0.0085 & 0.582 \\15$\ln(1+$lot m$^2)$ & 0.067 & 0.0011 & 0.0025 & 0.0060 & 0.0061 & 0.004 \\16\bottomrule17\end{tabular}18\begin{tablenotes}\footnotesize\item Notes: Grand model (M5) estimated on the FSA-demeaned data. HC1 is the heteroskedasticity-robust estimator; FSA and province cluster by neighbourhood and by province; two-way clusters by both. The last column is the $p$-value of a restricted wild-cluster bootstrap-$t$ test at the province level with Rademacher weights and full enumeration of the $2^{9}=512$ sign vectors \citep{cameron2015practitioner,mackinnon2017wild}; its smallest attainable value is $2/512=0.004$.19\end{tablenotes}20\end{threeparttable}21\end{table}22