	(1)	(2)	(3)	(4)	(5)
VARIABLES	pi_ols	pi_ols	pi_ols	pi_ols	pi_ols
					
Tight	-0.236**				
	(0.115)				
Unem_EU27		-0.0143			
		(0.0163)			
Unem_Euro			-0.00913		
			(0.0157)		
ZLB				-0.00796	
				(0.0467)	
VSTOXX					-0.00363
					(0.00421)
Constant	0.200***	0.294**	0.254*	0.181***	0.262***
	(0.0253)	(0.141)	(0.146)	(0.0371)	(0.0925)
					
Observations	94	84	84	94	94
R-squared	0.076	0.010	0.004	0.000	0.018
Robust standard errors in parentheses					
*** p<0.01, ** p<0.05, * p<0.1					
