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Table 21 Overall impact of receiving SSS payouts on expenditure

From: The effect of non-contributory pensions on labour supply and private income transfers: evidence from Singapore

 

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

VARIABLES

Total

Durables

Durables subset

Non-durables

Food

Tobacco

Clothes /Personal care

Health

Leisure

Received SS × Jan

10.937

25.418

17.144

−13.574

−10.347

− 1.938

−0.111

3.103

1.200

(105.715)

(47.887)

(44.492)

(85.963)

(22.578)

(1.984)

(10.434)

(27.815)

(32.623)

Received SS × Feb

170.274

78.893

50.216

91.707

18.021

1.001

7.918

−12.850

39.023

(117.335)

(49.606)

(41.931)

(100.368)

(21.920)

(2.097)

(8.396)

(26.393)

(54.562)

Received SS × Mar

221.451

52.306

50.469

170.399

− 9.369

−2.991

1.487

−14.530

40.765

(179.048)

(49.028)

(46.316)

(167.223)

(19.988)

(2.499)

(7.263)

(27.417)

(53.174)

Received SS × announce-to-pay

93.081

62.228*

57.854**

33.854

24.822

−1.395

11.131**

−34.256

7.342

(95.860)

(32.291)

(26.022)

(84.060)

(16.196)

(1.899)

(5.534)

(31.446)

(28.729)

Received SS × post-pay

113.425

57.062*

44.246

56.290

−3.672

−1.392

5.915

5.659

11.416

(93.064)

(31.672)

(27.181)

(79.732)

(17.224)

(2.153)

(5.768)

(21.905)

(26.971)

Mean

1414

84

51

1330

412

8

61

171

122

S.D.

2029

403

346

1934

317

48

111

572

662

Observations

15,970

16,019

16,019

15,970

16,019

15,909

15,914

16,019

16,019

R-squared

0.38

0.13

0.12

0.44

0.73

0.85

0.38

0.20

0.18

  1. Notes:
  2. 1Standard errors clustered at the household level in parentheses. ***, **, and * represent statistical significance at the 1, 5, and 10% level of significance respectively
  3. 2Dependent variables are shown at the top of each column. All expenditure values are reported at the couple (respondent and spouse if respondent is married) and monthly level. Total expenditure excludes cash gifts. Durables include furniture/furnishings, household appliances, home and vehicle repair/maintenance. Durables subset includes only furniture/furnishings and household appliances. Non-durables are based on the difference between total expenditure and durables. The sub-categories of non-durables captured in columns (5)–(9) are not exhaustive
  4. 3Results are estimates of coefficients in Eq. (1). The sample is restricted to respondents who are age-eligible for SSS (i.e. aged 65 and above in 2016), Singapore citizens, live in public housing flats, and with a propensity score of 0.2–0.8
  5. 4Mean and standard deviation statistics are based on pre-announcement levels of the dependent variable for respondents who received SSS payouts
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