Fixed Effects Instrumental Variable Model: Impact of Public Assistance Grants on Household Flood Insurance Purchases
ln_policy | ln_coverage | ln_premium | ln_take-up | |
---|---|---|---|---|
ln_PA, t – 1 | –0.1463*** (0.0370) | –0.1357*** (0.0377) | –0.1214*** (0.0345) | –0.1478*** (0.0373) |
ln_IA, t – 1 | 0.1085** (0.0465) | 0.0853* (0.0459) | 0.0516 (0.0419) | 0.1096** (0.0469) |
Rain, t | 0.0161** (0.0072) | 0.0200*** (0.0073) | 0.0218*** (0.0065) | 0.0162** (0.0072) |
Rain, t – 1 | 0.1069*** (0.0309) | 0.1181*** (0.0321) | 0.1307*** (0.0292) | 0.1081*** (0.0311) |
Rain, t – 2 | 0.0504*** (0.0115) | 0.0531*** (0.0120) | 0.0542*** (0.0110) | 0.0505*** (0.0115) |
Rain, t – 3 | –0.0053 (0.0055) | –0.0010 (0.0056) | –0.0010 (0.0051) | –0.0055 (0.0055) |
Income, t – 1 | 0.5738*** (0.1147) | 0.8457*** (0.1239) | 0.5389*** (0.1123) | 0.5367*** (0.1157) |
Loan, t – 1 | 0.0078 (0.0062) | 0.0118* (0.0063) | 0.0078 (0.0056) | 0.0074 (0.0062) |
Population, t – 1 | 0.6272*** (0.1549) | 0.8446*** (0.1601) | 0.6948*** (0.1453) | –0.3153** (0.1572) |
N | 34,361 | 34,361 | 34,361 | 34,361 |
First-stage F-statistics for PA | 17.26 | 17.26 | 17.26 | 17.26 |
First-stage F-statistics for IA | 11.88 | 11.88 | 11.88 | 11.88 |
Hansen J | 0.001 | 0.90 | 1.11 | 0.002 |
Hansen J p-value | 0.98 | 0.34 | 0.29 | 0.97 |