Table A4. First stage regression – total...

Table A4.

First stage regression – total household expenditures

	(1)
	Total expenditures
Win_region	−0.179*** (−14.54)
Lottery	0.391*** (52.71)
Lottery*win_region	0.0546*** (3.35)
Log lottery expenditure	−1.280*** (−25.15)
log-GDP	−1.588*** (−6.59)
Age	−0.0292*** (−14.37)
Age²	0.000243*** (12.16)
Marital_status	0.0523*** (14.45)
Education	0.0194*** (8.59)
Employed	−0.000287 (−0.04)
Retired	−0.153*** (−7.51)
_cons	12.17*** (18.52)
Specification	Expenditures in logarithms
N	211,096
R-squared	0.858

	(1)
	Total expenditures
Win_region	−0.179*** (−14.54)
Lottery	0.391*** (52.71)
Lottery*win_region	0.0546*** (3.35)
Log lottery expenditure	−1.280*** (−25.15)
log-GDP	−1.588*** (−6.59)
Age	−0.0292*** (−14.37)
Age²	0.000243*** (12.16)
Marital_status	0.0523*** (14.45)
Education	0.0194*** (8.59)
Employed	−0.000287 (−0.04)
Retired	−0.153*** (−7.51)
_cons	12.17*** (18.52)
Specification	Expenditures in logarithms
N	211,096
R-squared	0.858

Source: Instituto Nacional de Estadística (INE). This table presents the extended results of Table 5, where we described in detail the specifications and the estimation process. We compute robust standard errors. t-statistics in parentheses: *p < 0.05, **p < 0.01 and ***p < 0.001

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