Either way, I’m actually looking at this from a Canadian perspective and it definitely provides some insight. You see, we Canadians are gifted with “free” healthcare, which is then “pleasantly offset” by increased taxes. As such, we also have the pride of calling ourselves the most he...
We include dummy variables for all groups except Canadians. Thus, all country dummies are in reference to the AAVs earned by Canadian players in the NHL. Following Brander and Egan, we also include contract type dummies in both equations to control for the types of contracts and their impact...