Second-stage effects of educational attainment on savings rates
Table 3
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Instrumental variables | Ordinary least squares | ||||
---|---|---|---|---|---|
coefficient estimates | |||||
Estimator | |||||
Completed high school | 0.093Note ** | 0.073Note ** | 0.074Note ** | 0.064Note * | 0.021Note *** |
Additional controls | |||||
Age fixed effects | yes | yes | yes | yes | yes |
Cohort fixed effects | yes | yes | yes | yes | yes |
Birth-province fixed effects | yes | yes | yes | yes | yes |
Birth province–cohort trends | yes | yes | yes | yes | yes |
Institutional covariates | yes | yes | yes | yes | yes |
Individual covariates | no | yes | yes | yes | yes |
Labour income controls | no | no | yes | yes | yes |
Labour income 10-piece spline | no | no | no | yes | yes |
estimates | |||||
Statistics | |||||
R-squared | 0.052 | 0.285 | 0.293 | 0.345 | 0.412 |
F-test of excluded instruments | 26.730Note *** | 30.280Note *** | 27.720Note *** | 26.540Note *** | Note ...: not applicable |
number | |||||
Observations | 477,813 | 477,475 | 473,608 | 473,608 | 473,608 |
... not applicable
Sources: Statistics Canada, Longitudinal Worker File–1991 Census and T1 Personal Master File–2006 Census–2011 National Household Survey. |
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