Control variables
| Variable | Description | Nature |
|---|---|---|
| Age | Number of years lived by each individual | Continuous variable |
| Gender | Sex of each respondent | Dummy variable: It takes a value of 1 if the respondent is male and “0” otherwise |
| Income | Represents the logarithm of the monthly income of the respondents | Continuous variable |
| Education | Represents the highest level of education attained by the respondents and categorised into Primary education, secondary education, certificate/diploma, undergraduate degree and postgraduate degree | Categorical variable: It takes a value “1” if primary education, “0” otherwise; “1” if secondary education, “0” otherwise; “1” if certificate/diploma, “0” otherwise; “1” if undergraduate degree, “0” otherwise; “1” if postgraduate degree, “0” otherwise Reference category: primary education |
| Self-employment | Whether the respondent is self-employed or not | Dummy variable: It takes a value of 1 if the respondent is self-employed and “0” if not self-employed |
| Race | The race of the respondents was categorised as black, Asian/Indian, white and other | Categorical variable: It takes a value of “1” if black, “0” otherwise; “1” if Asian/Indian, “0” otherwise; “1” if other, “0” otherwise Reference category: black |
| Variable | Description | Nature |
|---|---|---|
| Age | Number of years lived by each individual | Continuous variable |
| Gender | Sex of each respondent | Dummy variable: It takes a value of 1 if the respondent is male and “0” otherwise |
| Income | Represents the logarithm of the monthly income of the respondents | Continuous variable |
| Education | Represents the highest level of education attained by the respondents and categorised into Primary education, secondary education, certificate/diploma, undergraduate degree and postgraduate degree | Categorical variable: It takes a value “1” if primary education, “0” otherwise; “1” if secondary education, “0” otherwise; “1” if certificate/diploma, “0” otherwise; “1” if undergraduate degree, “0” otherwise; “1” if postgraduate degree, “0” otherwise |
| Self-employment | Whether the respondent is self-employed or not | Dummy variable: It takes a value of 1 if the respondent is self-employed and “0” if not self-employed |
| Race | The race of the respondents was categorised as black, Asian/Indian, white and other | Categorical variable: It takes a value of “1” if black, “0” otherwise; “1” if Asian/Indian, “0” otherwise; “1” if other, “0” otherwise |
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