Table 4.
The FE model with IV results of the effect of having PHI.
| Variables | FE+IV | |
|---|---|---|
| The first stage | The second stage | |
| The ownership of PHI | — | 0.0821***(0.0102) |
| Gender | — | — |
| Age | −0.0024 (0.0045) | −0.0400(0.0034) |
| Marital status | 0.0051 (0.0040) | 0.0035*** (0.0030) |
| Education | −0.0041 (0.0046) | 0.0022 (0.0035) |
| Registered permanent residence | −0.0008 (0.0042) | −0.0105*** (0.0032) |
| Smoke | −0.0103 (0.0072) | −0.0305*** (0.0055) |
| Drink | 0.0049* (0.0030) | 0.0429*** (0.0022) |
| Social contact | −0.0016 (0.0028) | 0.0446*** (0.0022) |
| Disease | 0.0044 (0.0028) | −0.0606*** (0.0021) |
| Household income per capita | 0.0013 *** (0.0004) | 0.0004 (0.0003) |
| IV | 1.0793*** (0.0146) | — |
| F test: F | 83.07*** | |
| Hausman test: χ2 | 69.25*** | |
| Observations | 44,397 | |