Table 2

Regression estimates of expenditure changes in 15%+ youth magazines in post-MSA and post-pressure periods

	Brown & Williamson	Lorillard	Philip Morris	RJ Reynolds	Total
Dependent variable = transformed monthly expenditures (in thousands) on cigarette advertising in magazine k, including only magazines with 15% youth readership.
SE, standard error.
Post MSA
Coefficient	50.34	16.06	3.28	112.03	29.95
SE	22.22	7.60	52.54	45.87	23.82
Post pressure
Coefficient	−5.47	12.99	−265.81	−19.00	− 61.45
SE	22.37	7.84	53.99	47.95	24.04
R²	0.21	0.25	0.34	0.49	0.18
Observations	893	893	893	893	3,572