Table 1 Inequality in lost income,...

Table 1

Inequality in lost income, expected loss in own labor income and savings

	(Model 1)	(Model 2)	(Model 3)	(Model 4)	(Model 5)	(Model 6)
Variables	Log(LI)	Log (ELI)	Change savings	Log(LI)	Log (ELI)	Change savings
Poorest quintile	0.028	0.141	−0.146***	0.170	0.211	−0.128***
Poorest quintile	(0.204)	(0.208)	(0.044)	(0.201)	(0.204)	(0.044)
Second-poorest quintile	−0.223	−0.648***	−0.189***	−0.150	−0.628***	−0.175***
Second-poorest quintile	(0.205)	(0.213)	(0.043)	(0.202)	(0.209)	(0.043)
Middle-income quintile	−0.218	−0.261	−0.160***	−0.161	−0.224	−0.143***
Middle-income quintile	(0.198)	(0.205)	(0.042)	(0.196)	(0.203)	(0.042)
Second-richest quintile	−0.186	−0.305	−0.042	−0.182	−0.326	−0.03
Second-richest quintile	(0.2)	(0.204)	(0.042)	(0.197)	(0.202)	(0.042)
Age group (26–35)	0.224	−0.09	−0.104*	0.123	−0.102	−0.117**
Age group (26–35)	(0.237)	(0.244)	(0.055)	(0.235)	(0.244)	(0.055)
Age group (36–45)	0.141	−0.165	−0.202***	0.08	−0.191	−0.208***
Age group (36–45)	(0.235)	(0.241)	(0.054)	(0.231)	(0.24)	(0.053)
Age group (46–55)	0.286	−0.141	−0.217***	0.245	−0.077	−0.227***
Age group (46–55)	(0.238)	(0.246)	(0.053)	(0.234)	(0.243)	(0.053)
Age group (56–65)	1.215***	0.705***	−0.091*	1.052***	0.677***	−0.114**
Age group (56–65)	(0.244)	(0.251)	(0.055)	(0.239)	(0.249)	(0.055)
Age group (66–75)	2.442***	2.448***	0.126**	2.289***	2.464***	0.110*
Age group (66–75)	(0.246)	(0.245)	(0.058)	(0.241)	(0.241)	(0.058)
Age group (above 76)	2.623***	2.992***	0.078	2.511***	2.929***	0.061
Age group (above 76)	(0.321)	(0.299)	(0.072)	(0.318)	(0.302)	(0.072)
Age group (prefer not to say)	−0.347	1.321	−0.642	−0.404	1.997	−0.646
Age group (prefer not to say)	(2.134)	(1.586)	(0.595)	(2.363)	(1.917)	(0.55)
Female	0.035	−0.454***	0.060**	0.043	−0.426***	0.061**
Female	(0.126)	(0.13)	(0.027)	(0.125)	(0.128)	(0.027)
Urban	−0.800***	−0.254	−0.112***	−0.381**	−0.364*	−0.047
Urban	(0.19)	(0.198)	(0.041)	(0.192)	(0.2)	(0.043)
Suburban	−0.114	0.156	0.032	−0.032	0.043	0.03
Suburban	(0.192)	(0.199)	(0.042)	(0.192)	(0.199)	(0.043)
China				−1.187***	0.268	−0.195***
China				(0.197)	(0.194)	(0.05)
Italy				0.196	−0.298*	−0.124**
Italy				(0.172)	(0.176)	(0.052)
Japan				−0.202	−1.574***	0.062
Japan				(0.219)	(0.222)	(0.044)
Korea				−1.799***	−2.197***	−0.067
Korea				(0.258)	(0.263)	(0.047)
United Kingdom				0.933***	0.633***	0.141***
United Kingdom				(0.173)	(0.171)	(0.046)
Constant	−4.507***	−3.959***	2.704***	−4.389***	−3.384***	2.702***
Constant	(0.281)	(0.286)	(0.064)	(0.303)	(0.308)	(0.071)
RMSE	4.878	5.02	1.054	4.801	4.92	1.049
Adjusted R²	0.038	0.042	0.019	0.068	0.08	0.028
N	6,089	6,088	6,089	6,089	6,088	6,089

	(Model 1)	(Model 2)	(Model 3)	(Model 4)	(Model 5)	(Model 6)
Variables	Log(LI)	Log (ELI)	Change savings	Log(LI)	Log (ELI)	Change savings
Poorest quintile	0.028	0.141	−0.146***	0.170	0.211	−0.128***
Poorest quintile	(0.204)	(0.208)	(0.044)	(0.201)	(0.204)	(0.044)
Second-poorest quintile	−0.223	−0.648***	−0.189***	−0.150	−0.628***	−0.175***
Second-poorest quintile	(0.205)	(0.213)	(0.043)	(0.202)	(0.209)	(0.043)
Middle-income quintile	−0.218	−0.261	−0.160***	−0.161	−0.224	−0.143***
Middle-income quintile	(0.198)	(0.205)	(0.042)	(0.196)	(0.203)	(0.042)
Second-richest quintile	−0.186	−0.305	−0.042	−0.182	−0.326	−0.03
Second-richest quintile	(0.2)	(0.204)	(0.042)	(0.197)	(0.202)	(0.042)
Age group (26–35)	0.224	−0.09	−0.104*	0.123	−0.102	−0.117**
Age group (26–35)	(0.237)	(0.244)	(0.055)	(0.235)	(0.244)	(0.055)
Age group (36–45)	0.141	−0.165	−0.202***	0.08	−0.191	−0.208***
Age group (36–45)	(0.235)	(0.241)	(0.054)	(0.231)	(0.24)	(0.053)
Age group (46–55)	0.286	−0.141	−0.217***	0.245	−0.077	−0.227***
Age group (46–55)	(0.238)	(0.246)	(0.053)	(0.234)	(0.243)	(0.053)
Age group (56–65)	1.215***	0.705***	−0.091*	1.052***	0.677***	−0.114**
Age group (56–65)	(0.244)	(0.251)	(0.055)	(0.239)	(0.249)	(0.055)
Age group (66–75)	2.442***	2.448***	0.126**	2.289***	2.464***	0.110*
Age group (66–75)	(0.246)	(0.245)	(0.058)	(0.241)	(0.241)	(0.058)
Age group (above 76)	2.623***	2.992***	0.078	2.511***	2.929***	0.061
Age group (above 76)	(0.321)	(0.299)	(0.072)	(0.318)	(0.302)	(0.072)
Age group (prefer not to say)	−0.347	1.321	−0.642	−0.404	1.997	−0.646
Age group (prefer not to say)	(2.134)	(1.586)	(0.595)	(2.363)	(1.917)	(0.55)
Female	0.035	−0.454***	0.060**	0.043	−0.426***	0.061**
Female	(0.126)	(0.13)	(0.027)	(0.125)	(0.128)	(0.027)
Urban	−0.800***	−0.254	−0.112***	−0.381**	−0.364*	−0.047
Urban	(0.19)	(0.198)	(0.041)	(0.192)	(0.2)	(0.043)
Suburban	−0.114	0.156	0.032	−0.032	0.043	0.03
Suburban	(0.192)	(0.199)	(0.042)	(0.192)	(0.199)	(0.043)
China				−1.187***	0.268	−0.195***
China				(0.197)	(0.194)	(0.05)
Italy				0.196	−0.298*	−0.124**
Italy				(0.172)	(0.176)	(0.052)
Japan				−0.202	−1.574***	0.062
Japan				(0.219)	(0.222)	(0.044)
Korea				−1.799***	−2.197***	−0.067
Korea				(0.258)	(0.263)	(0.047)
United Kingdom				0.933***	0.633***	0.141***
United Kingdom				(0.173)	(0.171)	(0.046)
Constant	−4.507***	−3.959***	2.704***	−4.389***	−3.384***	2.702***
Constant	(0.281)	(0.286)	(0.064)	(0.303)	(0.308)	(0.071)
RMSE	4.878	5.02	1.054	4.801	4.92	1.049
Adjusted R²	0.038	0.042	0.019	0.068	0.08	0.028
N	6,089	6,088	6,089	6,089	6,088	6,089

Note(s): * < 0.1, ** < 0.05, *** < 0.01. Robust standard errors are in brackets. LI and ELI stand for “lost income” and “expected loss in labor income.” The reference groups are the richest quintile for income quintiles, age group 18–25 for age groups, rural residence for residence areas and the United States for countries

Source(s): Authors' own work

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