Fixed Effects Instrumental Variable Model: Impact of Public Assistance Grants (by Type) on Flood Insurance Purchases
ln_policy | ln_coverage | ln_premium | ln_take-up | |
---|---|---|---|---|
Panel A. PA Grants for Permanent Works | ||||
ln_PApermanent, t – 1 | –0.1807*** (0.0533) | –0.1535*** (0.0507) | –0.1356*** (0.0464) | –0.1828*** (0.0539) |
ln_IA, t – 1 | 0.1053** (0.0533) | 0.0705 (0.0498) | 0.0369 (0.0456) | 0.1066** (0.0539) |
Rain, t | 0.0274*** (0.0082) | 0.0298*** (0.0080) | 0.0304*** (0.0073) | 0.0276*** (0.0083) |
Rain, t – 1 | 0.1522*** (0.0414) | 0.1531*** (0.0402) | 0.1611*** (0.0368) | 0.1541*** (0.0417) |
Rain, t – 2 | 0.0567*** (0.0142) | 0.0562*** (0.0137) | 0.0567*** (0.0126) | 0.0569*** (0.0143) |
Rain, t – 3 | 0.0030 (0.0049) | 0.0070 (0.0047) | 0.0062 (0.0044) | 0.0028 (0.0050) |
Income, t – 1 | 0.5715*** (0.1270) | 0.8276*** (0.1283) | 0.5206*** (0.1173) | 0.5347*** (0.1281) |
Loan, t – 1 | 0.0069 (0.0067) | 0.0109* (0.0064) | 0.0070 (0.0058) | 0.0065 (0.0068) |
Population, t – 1 | 0.6796*** (0.1602) | 0.9223*** (0.1573) | 0.7681*** (0.1432) | –0.2628 (0.1621) |
N | 34,358 | 34,358 | 34,358 | 34,358 |
First-stage F-statistics for PA grants | 12.24 | 12.24 | 12.24 | 12.24 |
First-stage F-statistics for IA grants | 11.87 | 11.87 | 11.87 | 11.87 |
Hansen J | 1.17 | 3.96** | 4.14** | 1.14 |
Hansen J p-value | 0.28 | 0.05 | 0.04 | 0.29 |
Panel B. PA Grants for Emergency Works | ||||
ln_PAemergency, t – 1 | –0.1430*** (0.0321) | –0.1350*** (0.0337) | –0.1211*** (0.0310) | –0.1444*** (0.0323) |
ln_IA, t – 1 | 0.0946** (0.0379) | 0.0748* (0.0382) | 0.0425 (0.0351) | 0.0956** (0.0382) |
Rain, t | 0.0126** (0.0064) | 0.0167** (0.0066) | 0.0188*** (0.0060) | 0.0127** (0.0064) |
Rain, t – 1 | 0.0674*** (0.0249) | 0.0817*** (0.0261) | 0.0981*** (0.0240) | 0.0683*** (0.0250) |
Rain, t – 2 | 0.0396*** (0.0090) | 0.0433*** (0.0096) | 0.0456*** (0.0089) | 0.0396*** (0.0090) |
Rain, t – 3 | –0.0017 (0.0045) | 0.0021 (0.0047) | 0.0018 (0.0043) | –0.0019 (0.0045) |
Income, t – 1 | 0.5596*** (0.0977) | 0.8358*** (0.1126) | 0.5304*** (0.1005) | 0.5224*** (0.0984) |
Loan, t – 1 | 0.0077 (0.0057) | 0.0118** (0.0059) | 0.0078 (0.0052) | 0.0072 (0.0057) |
Population, t – 1 | 0.7093*** (0.1289) | 0.9152*** (0.1380) | 0.7573*** (0.1258) | –0.2323* (0.1308) |
N | 34,361 | 34,361 | 34,361 | 34,361 |
First-stage F-statistics for PA grants | 21.88 | 21.88 | 21.88 | 21.88 |
First-stage F-statistics for IA grants | 11.88 | 11.88 | 11.88 | 11.88 |
Hansen J | 0.11 | 0.58 | 0.78 | 0.12 |
Hansen J p-value | 0.74 | 0.45 | 0.38 | 0.72 |