**Appendix A**

**Figure A1.** County WSI Risk and Return, 2000–2008.

**Table A1.** Test of risk–return trade-off in MSAs.


\*\*\* *p* < 0.01, \*\* *p* < 0.05.

**Table A2.** Key regional variables and data source (Regional Economic Information Systems (REIS), Bureau of Economic Analysis (BEA); United States Department of Agriculture (USDA); United States Census Bureau (USCB)).




\* *p* < 0.1, \*\* *p* < 0.05, \*\*\* *p* < 0.01. Standard errors are in parenthesis.

**Table A4.** Results from WSE portfolios from different timeframes as regards SR2005 in MSAs only. (Selected timeframes are displayed due to space constraints).



\* *p* < 0.1, \*\* *p* < 0.05, \*\*\* *p* < 0.01; Standard errors are in parenthesis.

## **Table A5.** Summary Statistics for All and Metro Counties.



**Table A6.** Summary Statistics for Nonmetro, Towns, and Micro Counties.
