Table 2.

Regression result

	Panel A: Inpatient		Panel B: Outpatient		Panel C: Discretionary OTC drug purchase
	First stage	Inpatient	First stage	Outpatient	First stage	Discretionary OTC drug purchase
Pension	0.420***	0.099	0.358***	0.110	0.303***	0.329*
	0.043	0.080	0.048	0.109	0.054	0.188
95% CI	[0.334,0.504]	[-0.058,0.255]	[0.262,0.453]	[-0.104,0.324]	[0.196,0.409]	[-0.040,0.698]
Bandwidth		3.379		2.739		2.299
Sample size		740; 1187		645; 891		556; 763

Robust criteria errors for clustering to the individual level are reported in parentheses, *p < 0.1, ***p < 0.01. The default minimum mean square error bandwidth is used in the table