Table 3.
Alcohol participation – PSID and HRS
| Ages 21 - 54 | Ages 55 and older | |||||
|---|---|---|---|---|---|---|
| Sample | PSID | PSID | PSID | HRS | HRS | PSID |
| 1 | 2 | 3 | 4 | 5 | 6 | |
| Real Beer Tax | -0.1588*** (0.0445) [ε = -0.037] | -0.2198 (0.2200) [ε = -0.050] | -0.1877*** (0.0735) [ε = -0.042] | -0.5308*** (0.1247) [ε = -0.224] | -0.4525*** (0.1618) [ε = -0.173] | -0.5721*** (0.1826) [-0.130] |
| Risk Averse | – | – | -0.0583*** (0.0147) | – | -0.0329*** (0.0074) | -0.0574* (0.0340) |
| Male | 0.1681*** (0.0084) | 0.1692*** (0.0084) | 0.1453*** (0.0152) | 0.1594*** (0.0057) | 0.1677*** (0.0075) | 0.1720*** (0.0368) |
| Black | -0.1595*** (0.0108) | -0.1420*** (0.0119) | -0.1495*** (0.0184) | -0.1088*** (0.0072) | -0.0812*** (0.0104) | -0.1242** (0.0493) |
| Other Race | -0.1769** (0.0225) | -0.1767*** (0.0228) | -0.1340*** (0.0519) | -0.1298*** (0.0124) | -0.1302*** (0.0166) | -0.4996*** (0.0738) |
| Hispanic | -0.1982*** (0.0194) | -0.2019*** (0.0207) | -0.0330 (0.0687 | -0.0746*** (0.0102) | -0.0417*** (0.0142) | 0.0160 (0.2487) |
| High School | 0.0124 (0.0137) | 0.0129 (0.0138) | 0.0134 (0.0312) | 0.0909*** (0.0073) | 0.0583*** (0.0102) | -0.1750* (0.1023) |
| Some College | 0.0278** (0.0139) | 0.0241* (0.0140) | 0.0557* (0.0282) | 0.1718*** (0.0091) | 0.1201*** (0.0121) | 0.0093 (0.1276) |
| College | 0.0850*** (0.0140) | 0.0808*** (0.0141) | 0.0666** (0.0293) | 0.2405*** (0.0098) | 0.1806*** (0.0130) | -0.1612 (0.1195) |
| Real Income | 0.0021*** (0.0002) | 0.0019*** (0.0002) | 0.0019*** (0.0003) | 0.0010*** (0.0002) | 0.0008*** (0.0002) | 0.0022*** (0.0005) |
| Married | -0.1567*** (0.0093) | -0.1539*** (0.0093) | -0.1222*** (0.0171) | 0.0090 (0.0056) | 0.0068 (0.0080) | -0.0541 (0.0432) |
| Age 26-30 | -0.0078 (0.0139) | -0.0116 (0.0140) | -0.0324 (0.0385) | – | – | – |
| Age 31-35 | -0.0182 (0.0156) | -0.0253 (0.0157) | -0.0274 (0.0406) | – | – | – |
| Age 36-40 | -0.0230 (0.0155) | -0.0321** (0.0156) | -0.0424 (0.0405) | – | – | – |
| Age 41-45 | -0.0518*** (0.0160) | -0.0620*** (0.0160) | -0.0606 (0.0407) | – | – | – |
| Age 46-50 | -0.0612*** (0.0167) | -0.0717*** (0.0168) | -0.0697* (0.0415) | – | – | – |
| Age 51-55 | -0.0779*** (0.0183) | -0.0897*** (0.0184) | -0.1025** (0.0440) | – | – | – |
| Age 61-65 | – | – | – | -0.0195*** (0.0045) | -0.0175*** (0.0054) | -0.0193 (0.0338) |
| Age 66-70 | – | – | – | -0.0390*** (0.0062) | -0.0452*** (0.0082) | -0.0250 (0.0451) |
| Age 71-75 | – | – | – | -0.0568*** (0.0066) | -0.0537*** (0.0102) | -0.0058 (0.0556) |
| Age 76-80 | – | – | – | -0.1240*** (0.0063) | -0.0765*** (0.0146) | -0.1091 (0.0820) |
| Employed | – | – | 0.1044*** (0.0247) | – | 0.0416*** (0.0105) | 0.1348** (0.0650) |
| Unemployed | – | – | 0.1289*** (0.0304) | – | 0.0358 (0.0235) | 0.1057 (0.1105) |
| Retired | – | – | 0.1423** (0.0544) | – | 0.0565*** (0.0101) | 0.1249* (0.0629) |
| Household Size | – | – | -0.0219*** (0.0057) | – | -0.0182*** (0.0029) | -0.0109 (0.0206) |
| Parental Education | – | – | 0.0358* (0.0186) | – | 0.0340*** (0.0078) | 0.0890 (0.0534) |
| Functional Difficulties | – | – | -0.0399 (0.0248) | – | -0.0294*** (0.0026) | -0.0447** (0.0228) |
| Hypertension | – | – | 0.0118 (0.0178) | – | -0.0094 (0.0069) | -0.0381 (0.0329) |
| Diabetes | – | – | -0.0229 (0.0330) | – | -0.1372*** (0.0084) | -0.1061** (0.0477) |
| Heart Disease | – | – | -0.0242 (0.0369) | – | -0.0371*** (0.0087) | -0.0056 (0.0432) |
| Stroke | – | – | 0.0144 (0.0582) | – | -0.0672*** (0.0146) | -0.0863 (0.0795) |
| Depression | – | – | 0.0108 (0.0074) | – | -0.0040** (0.0016) | 0.0187 (0.0174) |
| BAC 08 | -0.0218*** (0.0083) | – | -0.0143 (0.0141) | – | – | -0.0423 (0.0319) |
| Percent Dry | -0.4052*** (0.0466) | – | -0.3725*** (0.0744) | – | – | -0.0905 (0.1683) |
| Monopoly State | 0.0443*** (0.0092) | – | 0.0515*** (0.0150) | – | – | 0.0146 (0.0334) |
| Year Indicators | Yes*** | Yes** | Yes*** | Yes*** | Yes*** | Yes |
| State Indicators | No | Yes*** | No | Yes*** | Yes*** | No |
| Pseudo R2 | 0.077 | 0.089 | 0.089 | 0.135 | 0.145 | 0.117 |
| Percent Correctly Classified | 62.5 | 63.4 | 65.7 | 67.2 | 68.0 | 67.2 |
| Observations | 26,762 | 26,762 | 9,545 | 107,509 | 66,374 | 1,935 |
Notes: Specifications are estimated via Probit, and marginal effects are reported. Standard errors in parentheses are clustered robust. Tax elasticities, evaluated at the sample means, are reported in brackets. Significance is denoted as follows: ***Significant at the 1% level. **Significant at the 5% level. *Significant at the 10% level. Significance of the tax effect is based on a one-tailed test. Percent correctly classified is calculated using a cutoff based on the observed mean prevalence of alcohol participation for each corresponding sample.