Recentered IV does not predict other pre-Interstate county characteristics
For \(x_{c} \in \{ \text{Population Density}_{c, 1940}, \text{Log House Value}_{c, 1940}, \text{Market Potential}_{c, 1950}\}\) and \(\text{Interstate Variable}_{c} \in \{ \text{Treatment}_{c}, \text{Recentered IV}_{c}\}\) I run the following regression:
\[ x_{c} = \beta_{0} + \beta_{1}\,\text{Interstate Variable}_{c} + \varepsilon_{c} \]
