. Author manuscript; available in PMC: 2020 Oct 30.

Published in final edited form as: Rev Econ Stat. 2020 Feb 28;102(1):113–128. doi: 10.1162/rest_a_00794

Table 5:

Elasticities with different definitions of consumption spending

Definition		First-stage		Second-stage
		Coeff.	S.E.	Coeff.	S.E.	β_n2 = −1	Obs.
Dependent variable: Home production (h/w)
(1)	$l n (c_{i m t}^{s})$	0.14^**	(0.06)	−0.65^*	(0.37)	[0.35]	2,500
(2)	(1) − durables	0.12^**	(0.06)	−0.71^*	(0.44)	[0.51]	2,500
(3)	(1) + suppl./material	0.14^**	(0.06)	−0.61^**	(0.31)	[0.21]	2,504
(4)	(1) + suppl./material, clothing	0.13^**	(0.06)	−0.67^**	(0.35)	[0.35]	2,507
(5)	(1) − home repair services	0.12^**	(0.06)	−0.74^*	(0.45)	[0.56]	2,491
(6)	(1) − home repair/gardening services	0.12^**	(0.06)	−0.74^*	(0.45)	[0.56]	2,490
(7)	(1) − housekeeping services	0.14^**	(0.06)	−0.62^*	(0.38)	[0.31]	2,501
(8)	(1) − dining out	0.09	(0.07)	−0.98	(0.83)	[0.98]	2,493
(9)	dining out only	0.30^***	(0.11)	−0.29^*	(0.17)	[0.00]	2,489
Dependent variable: Cooking (h/w)
(10)	dining out only	0.30^***	(0.11)	−0.06	(0.12)	[0.00]	2,495

Notes: Heteroskedasticity and autocorrelation robust SE’s in parentheses,

denotes significant at the 10% level,

^**

5%,

^***

1%. β_n2 = ‒1 tests whether the elasticity is significantly different from minus one. P-values in square brackets. 2011 US dollars.