## pct_change_prop_tax pct_change_pop pct_change_hpi
## Min. :-0.976 Min. :-0.997 Min. :-0.418
## 1st Qu.: 0.487 1st Qu.:-0.012 1st Qu.: 0.175
## Median : 0.876 Median : 0.092 Median : 0.343
## Mean : 1.327 Mean : 0.323 Mean : 0.394
## 3rd Qu.: 1.468 3rd Qu.: 0.290 3rd Qu.: 0.582
## Max. :76.957 Max. :35.207 Max. : 4.056
## NA's :12##
## ======================================================================
## Dependent variable:
## --------------------------------------------
## % Chng Prop Tax (2002-2017)
## (1) (2) (3) (4) (5)
## ----------------------------------------------------------------------
## % Chng Pop (2000-2020) 0.561*** 0.551*** 0.527*** 0.523***
## (0.025) (0.026) (0.026) (0.026)
##
## % Chng HPI (2002-2017) 0.547*** 0.273** -0.155 -0.267
## (0.130) (0.107) (0.158) (5.087)
##
## Constant 1.120*** 1.111*** 1.015*** 0.761 0.826
## (0.035) (0.066) (0.054) (0.722) (2.997)
##
## ----------------------------------------------------------------------
## State FE No No No Yes Yes
## State FE * Pct Change HPI No No No No Yes
## Observations 3,777 3,789 3,777 3,777 3,777
## R2 0.114 0.005 0.115 0.159 0.193
## ======================================================================
## Note: *p<0.1; **p<0.05; ***p<0.01##
## =================================================================
## Dependent variable:
## ----------------------------------------------------
## Prop Tax Rev
## (1) (2) (3)
## -----------------------------------------------------------------
## city_hpi 85,771.000*** -59,425.000*** -7,758.600
## (26,649.000) (16,601.000) (19,436.000)
##
## pop_10k 13,468,887.000*** 13,495,301.000***
## (117,062.000) (117,723.000)
##
## Constant -121,289.000 -18,872,321.000*** -7,367,080.000
## (6,441,797.000) (4,005,607.000) (44,262,048.000)
##
## -----------------------------------------------------------------
## State FE No No Yes
## Observations 8,255 8,216 8,216
## R2 0.001 0.618 0.625
## =================================================================
## Note: *p<0.1; **p<0.05; ***p<0.01##
## ========================================================================
## Dependent variable:
## ----------------------------------------------
## % Chng Prop Tax (2002-2017)
## (1) (2) (3) (4) (5)
## ------------------------------------------------------------------------
## % Chng Pop (2000-2020) 0.561*** 0.562*** 0.536*** 0.523***
## (0.025) (0.026) (0.026) (0.026)
##
## % Chng HPI (2002-2017) 0.786*** 0.568*** 0.257 -0.267
## (0.159) (0.129) (0.196) (5.087)
##
## Indicator for CA 0.481 1.028*** 1.396* 1.085
## (0.300) (0.244) (0.761) (3.006)
##
## pct_change_hpi:ca1 -0.922** -1.508*** -1.160*** -0.618
## (0.365) (0.297) (0.329) (5.094)
##
## Constant 1.120*** 1.041*** 0.912*** 0.525 0.826
## (0.035) (0.071) (0.057) (0.724) (2.997)
##
## ------------------------------------------------------------------------
## State FE No No No Yes Yes
## State FE * Pct Change HPI No No No No Yes
## Observations 3,777 3,789 3,777 3,777 3,777
## R2 0.114 0.007 0.121 0.162 0.193
## ========================================================================
## Note: *p<0.1; **p<0.05; ***p<0.01Keep only states with non-NA p-values
Median home price in California in 2020 from CalMatters: $758,990
| Measure | Avg 2021 Value | Elasticity w/HPI | Median Home Price (2020) |
|---|---|---|---|
| Total Salary | $127,694 | 0.0401 | $758,990 |
| Overtime Pay | $23,285 | 0.1096 | $758,990 |
Median Home Price from FRED: $387,900
| Measure | Avg 2021 Value | Elasticity w/HPI | Median Home Price (2020) |
|---|---|---|---|
| Total Salary | $81,704 | 0.0485 | $387,900 |
Previous analysis: https://rpubs.com/lkiena12/nov_2023_transcal_eda. I look at the most highly paid police officers in 2016 (top quintile at their agency) who are still in the data in 2021 and compare their total pay growth relative to the lowest paid police officers (bottom quintile).
| Quintile | Avg % Salary Growth | Avg Dollar Salary Growth | Avg % Base Growth | Avg Dollar Base Growth | Avg % OT Growth | Avg Dollar OT Growth | Count of Persons |
|---|---|---|---|---|---|---|---|
| Top Quintile | 15% | $18,964 | 21% | $18,470 | 2% | $494 | 501 |
| Bottom Quintile | 44% | $36,410 | 36% | $27,043 | 402% | $9,367 | 481 |