Effect of Pension Eligibility on Household Decision Making
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
|---|---|---|---|---|---|---|---|---|
| Dependent variable: Primary decision maker for day-to-day purchases | Dependent variable: Primary decision maker for all categories | |||||||
| Polynomial in age of person is… | ||||||||
| linear | quadratic | cubic | linear | quadratic | cubic | |||
| Panel 1: Women | ||||||||
| Pension eligible | 0.155*** [0.0447] | 0.160*** [0.0473] | 0.167*** [0.0561] | 0.153*** [0.0551] | 0.127*** [0.0417] | 0.146*** [0.0444] | 0.172*** [0.0513] | 0.154*** [0.0509] |
| Presence of man 50+ | −0.555*** [0.0357] | −0.555*** [0.0357] | −0.556*** [0.0358] | −0.563*** [0.0351] | −0.655*** [0.0283] | −0.656*** [0.0282] | −0.657*** [0.0283] | −0.656*** [0.0288] |
| Presence of pension eligible man | −0.056 [0.0499] | −0.054 [0.0499] | −0.054 [0.0501] | −0.034 [0.0497] | −0.0366 [0.0348] | −0.0305 [0.0348] | −0.0295 [0.0351] | −0.0117 [0.0362] |
| Observations | 1,794 | 1,794 | 1,794 | 1,794 | 1,764 | 1,764 | 1,764 | 1,764 |
| R-squared | 0.321 | 0.321 | 0.321 | 0.344 | 0.401 | 0.402 | 0.402 | 0.419 |
| Sample mean | 0.642 | 0.572 | ||||||
| Panel 2: Men | ||||||||
| Pension eligible | −0.026 [0.0801] | −0.060 [0.0962] | −0.091 [0.108] | −0.070 [0.0953] | −0.0536 [0.0814] | −0.0662 [0.0982] | −0.119 [0.109] | −0.108 [0.0975] |
| Presence of woman 50+ | −0.237*** [0.0469] | −0.234*** [0.0471] | −0.233*** [0.0472] | −0.204*** [0.0452] | −0.238*** [0.0471] | −0.237*** [0.0475] | −0.235*** [0.0476] | −0.218*** [0.0451] |
| Presence of pension eligible woman | −0.046 [0.0585] | −0.050 [0.0587] | −0.053 [0.0587] | −0.033 [0.0579] | −0.0535 [0.0580] | −0.0548 [0.0582] | −0.0609 [0.0582] | −0.0353 [0.0572] |
| Observations | 1,109 | 1,109 | 1,109 | 1,109 | 1,091 | 1,091 | 1,091 | 1,091 |
| R-squared | 0.056 | 0.057 | 0.057 | 0.161 | 0.058 | 0.058 | 0.060 | 0.172 |
| Sample mean | 0.574 | 0.548 | ||||||
| P-value for equality of female and male eligibility coefficients | 0.044 | 0.041 | 0.034 | 0.045 | 0.046 | 0.049 | 0.016 | 0.017 |
| Control variables | NO | NO | NO | YES | NO | NO | NO | YES |
Notes: Robust standard errors in brackets are clustered at the household level. Regressions are weighted with survey post-stratification weights. Sample is restricted to black men and women aged 50–75. Control variables are number of household members who are 0–5, 6–14, 15–24, and 25–49, educational attainment category, and rural/urban status.
↵*** p < 0.01,
** p < 0.05,
* p < 0.1