Table 2.
Results of OLS and IV regressions
| (I) | (II) | (III) | ||||
|---|---|---|---|---|---|---|
| Health | Capability | Income-IV | ||||
| Log yearly income | 0.495*** | (0.065) | 0.308*** | (0.054) | 2.201*** | (0.638) |
| EQ-5D-5L | − 2.665*** | (0.305) | 2.310*** | (0.378) | ||
| ICECAP-A | 6.234*** | (0.243) | ||||
| Age | − 0.026 | (0.029) | − 0.006 | (0.024) | − 0.004 | (0.037) |
| Age-squared | 0.0003 | (0.000) | 0.0001 | (0.000) | 0.0001 | (0.000) |
| Male | − 0.011 | (0.093) | − 0.012 | (0.075) | − 0.068 | (0.119) |
| Tertiary education | 0.038 | (0.094) | − 0.085 | (0.076) | − 0.395* | (0.199) |
| Divorced or widowed | − 0.358* | (0.168) | 0.078 | (0.132) | 0.256 | (0.304) |
| Never married | − 0.536*** | (0.121) | − 0.033 | (0.096) | 0.202 | (0.306) |
| Self-employed | 0.100 | (0.180) | 0.117 | (0.139) | 0.451 | (0.249) |
| Unemployed | − 0.579* | (0.231) | − 0.275 | (0.190) | 0.661 | (0.546) |
| Homemaker | − 0.257 | (0.169) | − 0.028 | (0.133) | 0.387 | (0.308) |
| Student | − 0.357 | (0.247) | − 0.589** | (0.226) | − 0.084 | (0.365) |
| Retired | 0.537** | (0.188) | 0.115 | (0.148) | 0.864*** | (0.253) |
| Unable to work | − 0.514 | (0.277) | − 0.541** | (0.197) | 0.672 | (0.534) |
| Atheist | 0.245 | (0.138) | 0.182 | (0.111) | 0.268 | (0.168) |
| Agnostic | 0.097 | (0.161) | 0.095 | (0.139) | 0.038 | (0.202) |
| Muslim | − 0.462 | (0.303) | 0.013 | (0.241) | − 0.330 | (0.307) |
| Other religion | − 0.013 | (0.172) | 0.101 | (0.145) | − 0.095 | (0.235) |
| Importance of religion | 0.147*** | (0.031) | 0.097*** | (0.025) | 0.148*** | (0.038) |
| HRAS | 0.077*** | (0.009) | 0.033*** | (0.007) | 0.0687*** | (0.011) |
| Constant | − 2.858** | (0.954) | − 2.657*** | (0.767) | − 20.60** | (6.687) |
| N | 1373 | 1373 | 1373 | |||
| Root MSE | 1.662 | 1.345 | 2.021 | |||
| R-squared | 0.334 | 0.564 | – | |||
| Kleibergen-Paap rk LM | 21.55*** | |||||
| Kleibergen-Paap rk Wald F | 21.63*** | |||||
| Test for endogeneity | 10.65*** | |||||