Using the link: https://www.princeton.edu/~mwatson/Stock-Watson_4E/Stock-Watson-Resources-4e.html

download dataset: Income and Democracy (Used in EE 10.2)

There are additional demographic controls in the data set. Should these variables be included in the regression? If so, how do the results change when they are included?

regression model3 

Variable Name Description country country name year year dem ind index of democracy log gappc logarithm of real GDP per capita log pop logarithm of population age 1 fraction of the population age 0-14 age 2 fraction of the population age 15-29 age 3 fraction of the population age 30-44 age 4 fraction of the population age 45-59 age 5 fraction of the population age 60 and older educ average years of education for adults (25 years and older) age median median age code country code