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

CHAPTER 1. BANKRUPTCY 59
Table 1.8: Baseline Costs Estimates
(1) (2) (3) (4) (5) (6)
ln(w S Dependent variable: ln(out-of-pocket+1)
OLS 2SLS
) 0.561 0.219 0.271 0.572 0.368 0.350
Age group
(0.014) (0.030) (0.037) (0.014) (0.040) (0.038)
35-44 -0.118 -0.092 -0.237 -0.123
(0.119) (0.120) (0.128) (0.121)
45-54 -0.136 -0.075 -0.255 -0.088
(0.136) (0.133) (0.146) (0.134)
55-64 -0.210 -0.088 -0.368 -0.089
Family structure
(0.155) (0.158) (0.162) (0.158)
Couple 0.226 0.298 0.245 0.335
(0.103) (0.096) (0.107) (0.098)
Single parent 0.009 0.026 0.083 0.065
(0.121) (0.121) (0.113) (0.119)
Couple with children -0.217 -0.135 -0.138 -0.072
Race
(0.146) (0.141) (0.153) (0.139)
Non-white 0.011 -0.043 -0.049 -0.092
Education
(0.119) (0.122) (0.122) (0.120)
High school to some college 0.205 0.173 -0.001 0.095
(0.113) (0.116) (0.115) (0.115)
College or greater 0.219 0.254 -0.067 0.167
(0.175) (0.176) (0.179) (0.181)
Income polynomial (4th order) Yes Yes Yes Yes
Wealth polynomial (4th order) Yes Yes
Relative Risk Score polynomial (4th order) Yes Yes Yes Yes
Instrument
Baseline instrument Yes Yes Yes
R-squared 0.856 0.881 0.882 - - -
N 3,401 3,401 3,401 3,401 3,401 3,401
Notes: Regressions of out-of-pocket payments on seizable assets in the sample of uninsured households with positive
medical utilization. In the 2SLS specifications, the baseline instrument is mean log seizable assets for a constant,
nationally representative sample of households as though they lived in state state. The excluded demographic groups are
age 18-34, single, less than high school, and white. The Relative Risk Score is a measure of utilization based on medical
diagnoses. All specifications include an indicator for the bottom-coding of seizable assets. Robust standard errors
clustered at the state level in parentheses. Pooled 2000 to 2005 MEPS inflation-adjusted to 2005 using the CPI-U.