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Table 3 Cross-section and panel logit modes. Estimation of income and wealth semi-elasticities of VPHI

From: Income and wealth as determinants of voluntary private health insurance: empirical evidence in Spain, 2008–2014

Wave N° of observations Income 95% CI Wealth 95% CI
2008 6197 0.064a (0.023;0.104) 0.015a (0.006;0.025)
2011 6084 0.080a (0.050;0.109) 0.008b (0.001;0.014)
2014 6116 0.116a (0.094;0.139) 0.003 (−0.002; 0.009)
Panel 1928 0.076c (−0.014; 0.168) 0.048c (−0.009; 0.104)
  1. The values in the table report the absolute change in the probability of having voluntary private health insurance if the income or wealth increases by 1%. All the models adjust by age, sex and education level of the head of the family, expected future income, number of children under 14 years of age in the household, and proportion of people in the household with bad or very bad health. The income and wealth of the household are in logarithms and adjusted by family composition according to the OECD scale. For the conditional fixed effects logit model (panel data) the estimates are average (semi) elasticities of P(Yiy = 1| Xit, αi), calculated following Kitazawa [22]. The last row contains the estimators of the panel model with household fixed effect
  2. asignificant at 1%
  3. bsignificant at 5%
  4. csignificant at 10%