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Frontiers of Business Research in China

Table 4 Impact of elderly support expenditure on daily consumption in different samples (GMM)

From: The crowding-out effect of elderly support expenditure on household consumption from the perspective of population aging: evidence from China

Variable

(1)

(2)

(3)

(4)

old = 0

old = 1

old = 2

old > 2

con

−2.352b (− 8.39)

−2.696b (− 3.29)

−2.686 (− 1.41)

−2.796a (− 2.26)

Control variable

yes

yes

yes

yes

Weak IV test

151.7

19.1

2.99

5.55

Sargan P-value

0.1320

0.7824

0.0000

0.0046

Sample size

11,984

6013

5070

4197

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