	(1)	(2)	(3)	(4)	(5)
VARIABLES	pi_fe	pi_fe	pi_fe	pi_fe	pi_fe
					
Tight	0.0624				
	(0.0675)				
Unem_EU27		0.000125			
		(0.00927)			
Unem_Euro			-0.00206		
			(0.00897)		
ZLB				-0.0978***	
				(0.0336)	
VSTOXX					0.000265
					(0.00308)
Constant	0.0965***	0.105	0.125	0.158***	0.100
	(0.0166)	(0.0770)	(0.0815)	(0.0297)	(0.0664)
					
Observations	60	59	59	60	60
R-squared	0.028	0.000	0.001	0.135	0.000
Robust standard errors in parentheses					
*** p<0.01, ** p<0.05, * p<0.1					
