|
| Linear Model (1) | Linear Model (2) | Linear Model (3) |
| Investment Amount | Investment Amount | Investment Amount | |
| Low | 0 | 0 | 0 |
| High | 103.0*** | 89.52*** | 74.28*** |
|
| (31.63) | (27.34) | (23.07) |
| Non-Finance | 0 | 0 | 0 |
| Finance | 33.37*** | 33.25*** | 29.58*** |
|
| (7.66) | (7.74) | (6.97) |
| Employed |
| 0 | 0 |
| Retired |
| 17.83*** | 53.45*** |
|
|
| (5.38) | (15.88) |
| Unemployed |
| −43.45*** | −14.24*** |
|
|
| (−13.39) | (−4.36) |
| Renter |
| 0 | 0 |
| Owner |
| 66.88*** | 41.33*** |
|
|
| (32.49) | (19.93) |
| Labor Income |
|
| 0.901*** |
|
|
|
| (39.82) |
| Age Fix Effect | Yes | Yes | Yes |
| Decade Fix Effect | Yes | Yes | Yes |
| Observations | 55,419 | 55,419 | 55,419 |
| Pseudo R2 | 0.023 | 0.037 | 0.052 |