NSDAP vote-share gains are regressed on city-level Danatbank exposure with robust standard errors.

Evidence

This table reports results for regression equation (2). The dependent variables are the change in the vote share of the NSDAP across different federal elections. In Panel A, danat takes on a value of one if a city has above-average exposure or a branch of Danatbank. In Panel B, exposure is city-level exposure to Danat; the dummy branch takes on a value of one if a city had a Danat branch. Controls include log population, share blue collar, share protestant, share Jewish, all as of 1925. Standard errors are robust. — Sebastian Doerr et al., Financial Crises and Political…, 254

Categorization

• DEFINE: Defines the two distinct Danat treatments: an above-average-exposure/branch dummy in Panel A versus continuous city-level exposure plus branch dummy in Panel B.
• QUESTION: Does the Danat dummy conflate having a local branch with above-average exposure, potentially entangling salience with deposit loss?