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Table 32 Overall impact of expecting to receive 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

Expect SS × Jan

−68.379

18.019

19.350

−86.938

−31.640**

−0.555

−14.250

−46.806

50.585

(139.636)

(28.243)

(24.608)

(137.294)

(15.070)

(1.590)

(9.748)

(30.136)

(39.239)

Expect SS × Feb

−99.090

−8.907

−12.342

−91.930

−42.000***

−3.273**

−6.404

−4.536

9.008

(121.981)

(25.782)

(20.502)

(117.385)

(14.922)

(1.449)

(9.043)

(38.690)

(42.351)

Expect SS × Mar

−57.994

−10.236

0.636

−49.712

−4.271

−0.546

−10.387

−26.709

36.064

(120.390)

(29.203)

(20.584)

(110.939)

(12.340)

(1.523)

(7.084)

(32.638)

(46.388)

Expect SS × announce-to-pay

−84.394

10.821

6.566

−95.980

−11.067

−0.162

−3.866

−50.422*

− 9.492

(100.114)

(21.105)

(16.892)

(93.502)

(10.247)

(1.212)

(5.514)

(27.173)

(31.962)

Expect SS × post-pay

−14.862

9.497

4.361

−25.130

−9.749

0.145

1.556

−32.876

20.122

(95.429)

(18.504)

(14.501)

(89.345)

(11.414)

(1.296)

(5.411)

(24.668)

(24.786)

Mean

2835

164

100

2671

532

20

135

273

260

S.D.

3686

618

490

3444

437

71

221

843

886

Observations

51,240

51,402

51,402

51,240

51,402

51,054

51,039

51,402

51,402

R-squared

0.56

0.15

0.11

0.56

0.75

0.84

0.49

0.22

0.20

  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 not age-eligible for SSS (i.e. aged 56 to 63 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 expected to receive SSS payouts
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