(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

0.1

0.2

0.3

0.4

0.5

0.6

0.7

0.8

0.9

VARIABLES

con_struc

con_struc

con_struc

con_struc

con_struc

con_struc

con_struc

con_struc

con_struc

lnhp

0.000812

−0.00752*

−0.0150***

−0.0202***

−0.0313***

−0.0405***

−0.0485***

−0.0507***

−0.0683***

(0.00356)

(0.00428)

(0.00478)

(0.00510)

(0.00567)

(0.00664)

(0.00733)

(0.00774)

(0.00962)

max_edu

0.00394***

0.00503***

0.00525***

0.00597***

0.00548***

0.00499***

0.00496***

0.00282***

0.00160

(0.000434)

(0.000522)

(0.000583)

(0.000622)

(0.000692)

(0.000810)

(0.000894)

(0.000944)

(0.00117)

youngratio

0.0445***

0.0576***

0.0417***

0.0340**

−0.0176

−0.0341

−0.0761***

−0.110***

−0.181***

(0.0115)

(0.0139)

(0.0155)

(0.0165)

(0.0184)

(0.0215)

(0.0237)

(0.0251)

(0.0311)

oldratio

−0.0111*

−0.00332

0.00356

0.00807

0.0128

0.0179*

0.0223*

0.0419***

0.0545***

(0.00574)

(0.00691)

(0.00773)

(0.00823)

(0.00916)

(0.0107)

(0.0118)

(0.0125)

(0.0155)

lnfincome_per

−0.00129

−0.000764

−0.000162

−0.00369

−0.00931***

−0.0132***

−0.0195***

−0.0261***

−0.0370***

(0.00158)

(0.00190)

(0.00212)

(0.00226)

(0.00252)

(0.00295)

(0.00326)

(0.00344)

(0.00427)

lnpce

−0.00357

−0.00153

0.00321

0.0121***

0.0285***

0.0400***

0.0458***

0.0551***

0.0696***

(0.00224)

(0.00270)

(0.00302)

(0.00322)

(0.00358)

(0.00419)

(0.00463)

(0.00489)

(0.00607)

f_num

0.00599***

0.00773***

0.00883***

0.00785***

0.00474**

0.00439**

0.00478**

0.00255

−0.000916

(0.00116)

(0.00139)

(0.00155)

(0.00166)

(0.00184)

(0.00216)

(0.00238)

(0.00252)

(0.00313)

Constant

0.0723**

0.142***

0.188***

0.210***

0.255***

0.309***

0.438***

0.525***

0.765***

(0.0317)

(0.0382)

(0.0427)

(0.0455)

(0.0506)

(0.0593)

(0.0654)

(0.0691)

(0.0858)

Observations

9052

9052

9,052

9052

9052

9052

9052

9052

9052