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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