essays in public finance and industrial organization a dissertation ...

CHAPTER 1. BANKRUPTCY 55
Table 1.4: Sensitivity Analysis of the Effect on Coverage
Baseline IV by
Non-homestead
Publicly insured Ins mkt regs Census region Census division group Homestead IV IV Historical IV
(1) (2) (3) (4) (5) (6) (7) (8)
ln(w S Dependent variable: Percent of household insured
) 6.30 4.71 5.01 4.23 4.71 4.53 6.16 6.39
(1.11) (1.23) (1.83) (0.72) (1.17) (1.29) (0.67) (0.82)
Demographic controls Yes Yes Yes Yes Yes Yes Yes Yes
State controls Yes Yes Yes Yes Yes Yes Yes Yes
Additional state legislative factors Yes
Census region FE Yes
Census division FE Yes
Instrument
Baseline instrument Yes Yes Yes Yes
Baseline instrument by group Yes
Homestead instrument Yes
Non-homestead instrument Yes
Historical instrument Yes
N 25,450 20,265 20,265 20,265 20,265 20,265 20,265 17,418
Notes: The dependent variable is the percent of household member-months insured. The baseline instrument is mean log seizable assets for a constant, nationally
representative sample of households as though they lived in that state. Means are taken by age and education group for the baseline instrument by group variable. The
homestead, non-homestead and historical homestead instruments are constructed similarly to the baseline instrument using seizable home equity, non-homestead seizable
assets, and seizable home equity under inflation-adjusted 1920 homestead exemption laws. Demographic controls are dummies for age group, family structure, race, and
education. State controls are mean income, percent unemployed, and percent covered by Medicaid. Additional state legislative factors are insurance market regulations and
Medicaid Medically Needy program parameters. See text for details. All specifications include an indicator for the bottom-coding of seizable assets. Robust standard errors
clustered at the state level in parentheses. Pooled 1999 to 2005 PSID excluding households with public insurance or a head age 65 or older. Inflation-adjusted to 2005
using the CPI-U.