Table 2 Results of the effect of health...

Table 2

Results of the effect of health shocks on welfare

	3SLS			FGLS
Variable	TCONpc	FCONpc	NFCONpc	TCONpc	FCONpc	NFCONpc
Panel A: Disability and Welfare
Disability	−0.095***	−0.033	−0.217***	−0.071**	−0.025	−0.196***
Disability	(0.032)	(0.034)	(0.043)	(0.031)	(0.032)	(0.048)
Observations	21,224	21,224	21,224	21,224	21,224	21,224
$R^{2}$	0.606	0.517	0.542	0.654	0.527	0.543
Panel B: Hospitalization and Welfare
Hospitalized	0.084***	0.082***	0.103***	0.084***	0.081***	0.099***
Hospitalized	(0.018)	(0.019)	(0.024)	(0.017)	(0.019)	(0.023)
Observations	14,904	14,904	14,904	14,905	14,905	14,904
$R^{2}$	0.607	0.518	0.542	0.644	0.526	0.545
Panel C: Severe illness and Welfare
Severe illness	−0.027*	−0.028*	−0.029	−0.025*	−0.029*	−0.023
Severe illness	(0.016)	(0.017)	(0.021)	(0.015)	(0.016)	(0.021)
Observations	15,017	15,017	15,017	15,018	15,018	15,017
$R^{2}$	0.606	0.517	0.541	0.644	0.526	0.543
Controls
Household Characteristics	✓	✓	✓	✓	✓	✓
Other factors	✓	✓	✓	✓	✓	✓
Year dummies	✓	✓	✓	✓	✓	✓
Regional dummies	✓	✓	✓	✓	✓	✓

	3SLS			FGLS
Variable	TCONpc	FCONpc	NFCONpc	TCONpc	FCONpc	NFCONpc
Panel A: Disability and Welfare
Disability	−0.095***	−0.033	−0.217***	−0.071**	−0.025	−0.196***
Disability	(0.032)	(0.034)	(0.043)	(0.031)	(0.032)	(0.048)
Observations	21,224	21,224	21,224	21,224	21,224	21,224
$R^{2}$	0.606	0.517	0.542	0.654	0.527	0.543
Panel B: Hospitalization and Welfare
Hospitalized	0.084***	0.082***	0.103***	0.084***	0.081***	0.099***
Hospitalized	(0.018)	(0.019)	(0.024)	(0.017)	(0.019)	(0.023)
Observations	14,904	14,904	14,904	14,905	14,905	14,904
$R^{2}$	0.607	0.518	0.542	0.644	0.526	0.545
Panel C: Severe illness and Welfare
Severe illness	−0.027*	−0.028*	−0.029	−0.025*	−0.029*	−0.023
Severe illness	(0.016)	(0.017)	(0.021)	(0.015)	(0.016)	(0.021)
Observations	15,017	15,017	15,017	15,018	15,018	15,017
$R^{2}$	0.606	0.517	0.541	0.644	0.526	0.543
Controls
Household Characteristics	✓	✓	✓	✓	✓	✓
Other factors	✓	✓	✓	✓	✓	✓
Year dummies	✓	✓	✓	✓	✓	✓
Regional dummies	✓	✓	✓	✓	✓	✓

Note(s): Standard errors are in parentheses, where ***p < 0.01, **p < 0.05, and * p < 0.1. TCON_PC, FCON_PC, and NFCON_PC are the dependent variables and represent logs of Total consumption expenditure, Food expenditure, and Non-food expenditure respectively. The subscripts pc denotes Per capita. Controls here consist of household characteristics (age, marital status, educational status, household size), and other factors (access to loans, location, poverty)

Source(s): Authors' own work

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