Table A9.

Impact of the lockdown on household wealth – robustness check.

	(1)	(2)	(3)	(4)	(5)	(6)
	Wealth	Land value	Assets	Livestock	Savings	Net borrowing
Panel A: Sample restricted to no household size change between March and May
Post Lockdown	−91.105***	−3.322***	−1.874***	2.607	−42.807***	47.398***
	(17.273)	(1.146)	(0.694)	(1.874)	(12.408)	(12.411)
$R^2$	1.000	1.000	1.000	0.999	0.630	0.614
Baseline Mean	6050.24	5180.3	512.5	293.54	106.81	30.64
Observations	1676	1676	1676	1676	1676	1676
Panel B: Full sample, control for household size
Post Lockdown	−90.320***	−3.956***	−1.666***	3.686*	−47.374***	42.079***
	(19.742)	(1.201)	(0.612)	(1.976)	(11.499)	(12.450)
$R^2$	1.000	1.000	1.000	0.999	0.633	0.617
Baseline Mean	6441.27	5557.900	525.11	308.43	112.66	41.21
Observations	2150	2150	2150	2150	2150	2150
Panel C: Full sample, control for household composition
Post Lockdown	−96.393***	−2.729*	−1.948**	5.284**	−61.261***	37.968***
	(21.869)	(1.504)	(0.817)	(2.323)	(13.365)	(14.079)
$R^2$	1.000	1.000	1.000	0.999	0.638	0.624
Baseline Mean	6441.27	5557.90	525.11	308.43	112.66	41.21
Observations	2150	2150	2150	2150	2150	2150

Panel C includes linear and quadratic household size, number of male and female adults (aged 15–60), number of elderly (aged above 60), and number of children under 7 and those in the 7–14 age group. Wealth is calculated as the sum of column (2) – column (5) minus column (6). Land, assets and livestock at follow up are calculated by subtracting sales and adding purchases to the baseline stocks. Net borrowing is defined as outstanding loans received minus loan given. Standard errors clustered by village in parentheses. * $p<0.10$, ** $p<0.05$, *** $p<0.01$.