Table 7.
Placebo tests.
| Variables | 56 | 57 | 58 | 62 | 63 | 64 |
|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | (7) | |
| Pension | 7.298 (10.022) | −4.601 (7.557) | 0.598 (0.920) | 0.411 (0.285) | −19.133 (1,915.200) | 0.481 (1.194) |
| Bandwidth | 2.391 | 2.474 | 3.541 | 2.430 | 2.080 | 3.042 |
| Covariates | Yes | Yes | Yes | Yes | Yes | Yes |
| Province fixed effect | Yes | Yes | Yes | Yes | Yes | Yes |
| County fixed effect | Yes | Yes | Yes | Yes | Yes | Yes |
| Observation | 627; 898 | 707; 929 | 1,140; 1,355 | 938; 834 | 784; 612 | 1,064; 849 |
The default bandwidths of minimum mean square error are used in the table. Covariates include gender, education, self-rated health, work status, and household incomes per capita. Robust standard errors are clustered at the household level and are shown in parentheses.
Source: CFPS2014 and Stata 16.0.