Frontiers of Business Research in China

Table 5 Impact of elderly support expenditure on core 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)
Variable	old = 0	old = 1	old = 2	old > 2
ccr	− 0.7818^a (− 3.22)	−0.4291 (− 0.62)	1.538 (0.86)	0.2612 (0.26)
Control variable	yes	yes	yes	yes
Weak IV test	151.7	19.1	2.99	5.55
Sargan P-value	0.4996	0.8410	0.1123	0.0731
Sample size	11,984	6013	5070	4197

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