Table 4.

Second-stage estimates of subjective well-being

	OLS	OLS 2	OLS 3	FE	IV-FE
ln per capita expenditure	0.043** (0.011)	0.038** (0.011)	0.028* (0.012)	0.027 (0.017)	0.499** (0.155)
Sex		0.235** (0.047)	0.227** (0.048)
Age		−0.023* (0.010)	−0.032** (0.011)
(Age/10) squared		0.015 (0.011)	0.020+ (0.012)
Primary schooling		−0.063 (0.051)	−0.059 (0.050)
Secondary schooling		−0.075 (0.078)	−0.048 (0.079)
Married			0.110 (0.069)	−0.100 (0.139)	0.120 (0.213)
Children ever born			0.019* (0.008)	0.033 (0.022)	0.032 (0.032)
Year 2008			0.113** (0.038)	0.074+ (0.041)	−0.315* (0.134)
Constant	3.739** (0.074)	4.431** (0.214)	4.440** (0.236)	3.691** (0.212)
N	2360	2360	2360	2360	2360
KP LM Underid					17.69**
KP Wald F-test					10.34**
Sargan p					0.612

Notes: Robust standard errors in parentheses. Per capita expenditures adjusted for inflation and economies of scale.

⁺p<0.1,

^*p<0.05,

^**p<0.01