Table 2.
Probit Model for Insurance Participation (First Stage Estimates)
| Variable | Model 1 | Model 2 | ||
|---|---|---|---|---|
| Coefficient | SE | Coefficient | SE | |
| Instruments | ||||
| Unionization rate | .037 | (.001)*** | .021 | (.003)*** |
| Unemployment rate | .087 | (.012)*** | −.037 | (.064)*** |
| State tax | .004 | (.006) | .002 | (.006) |
| Common variables | ||||
| Age | .019 | (.004)*** | ||
| Black | −.002 | (.050) | ||
| Hispanic | −.536 | (.067)*** | ||
| Female | .012 | (.046) | ||
| Married | .118 | (.046)** | ||
| Income–needs ratio—1.00–1.49 | .332 | (.089)*** | ||
| Income–needs ratio—1.50–1.99 | .687 | (.085)*** | ||
| Income–needs ratio—2.00–2.99 | 1.047 | (.075)*** | ||
| Income–needs ratio—3.00–4.99 | 1.377 | (.072)*** | ||
| Income–needs ratio—≥5.00 | .553 | (.078)*** | ||
| Education—9–11 years | .391 | (.063)*** | ||
| Education—high school/GED | .535 | (.062)*** | ||
| Education college | .578 | (.062)*** | ||
| Past smoker | .058 | (.043) | ||
| Current smoker | −.162 | (.048)*** | ||
| Alcohol abstainer | −.024 | (.038) | ||
| Alcohol—heavy drinker | −.526 | (.083) | ||
| Body mass index—2 | .058 | (.056) | ||
| Body mass index—3 | .046 | (.058) | ||
| Body mass index—4 | .030 | (.057) | ||
| Body mass index—5 | .031 | (.058) | ||
| Health index 1992 | .002 | (.001)*** | ||
| Constant | .956 | (.187)*** | −.989 | (.351)*** |
| Pseudo R2 | 0.033 | .216 | ||
| Likelihood ratio χ2 | 248.64 | 1,776.88 | ||
| Wald test on joint significance of instruments | ||||
| χ2 | 991.46 | 888.92 | ||
| Degrees of freedom | 9 | 9 | ||
| p-value | <0.001 | <0.001 | ||
| N | 9,034 | 9,034 | ||
Notes: Standard error in parentheses.
* ≥90%, <95% significance.
**
≥95%, <99% significance.
***
≥99% significance.