The Benefits to Taxpayers from Increases in Students - RAND ...

110 The Benefits to Taxpayers from Increases in Students’ Educational Attainment
Table C.8b
Estimated Two-Part Model of 2002 Social Security Income
OLS - Income Received (square root)
Women Men
Under 63 Over 62 Under 63 Over 62
Intercept 46.992** 203.691** 5.060 117.329
Education level
Less than high school
graduate
1.545 –200.299* 54.423** 182.044
Some college –38.776 –147.853 21.444 –81.622
Bachelor’s degree or more 116.283 –2.247 160.677* –329.631*
Age
Age 0.636 –3.662* 2.754** –0.291
Age squared –0.004 0.028* –0.021* 0.001
Age–less than high school
graduate
–0.358 5.198* –2.783* –5.361
Age–some college 1.801 4.034 –0.619 2.109
Age–bachelor’s degree or
more
Age squared –less than
high school graduate
–3.289 0.240 –7.069* 8.858*
0.005 –0.034* 0.029* 0.038
Age squared–some college –0.019 –0.027 0.002 –0.013
Age squared–bachelor’s
degree or more
0.023 –0.002 0.070 –0.058*
Race/ethnicity
Asian –3.966 –7.041* 1.663 –13.146**
Black –0.050 –4.222** –5.740* –8.923**
Hispanic –3.774 –7.250** 0.951 –7.775**
Native American –14.760* –2.995 2.303 –10.555
Immigrant –4.545 –2.519 –7.490 –4.066*
N 1,039 4,418 764 3,203
R squared 5% 7% 16% 7%
NOTES: One and two asterisks indicate significance at the 0.05 and 0.01 levels, respectively.
Education effects (main and interacted) are jointly significant in all models at the 0.01 level. The
intercept is high school graduate, white, U.S.-born.