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Household Debt in New Zealand

Appendix

Appendix Table A.1 - Debt regression results for non-partnered individuals
Dependent variable is the logarithm of debt Regression coefficient Sample means Marginal effect on debt
Male 0.135 0.451 1,178
  (0.068)*    
Asset decile 2 0.214 0.093 1,203
  (0.144)    
Asset decile 3 0.255 0.110 1,463
  (0.136)    
Asset decile 4 0.333 0.106 1,986
  (0.147)*    
Asset decile 5 0.303 0.110 1,783
  (0.146)*    
Asset decile 6 0.091 0.099 478
  (0.167)    
Asset decile 7 0.882 0.103 7,117
  (0.196)**    
Asset decile 8 1.056 0.105 9,425
  (0.219)**    
Asset decile 9 1.01 0.101 8,777
  (0.238)**    
Asset decile 10 1.171 0.097 11,196
  (0.268)**    
Income decile 2 -0.181 0.094 -1,697
  (0.167)    
Income decile 3 -0.104 0.077 -1,014
  (0.176)    
Income decile 4 -0.225 0.066 -2,060
  (0.191)    
Income decile 5 -0.377 0.095 -3,219
  (0.174)**    
Income decile 6 -0.408 0.101 -3,428
  (0.172)**    
Income decile 7 -0.266 0.119 -2,394
  (0.171)    
Income decile 8 -0.252 0.124 -2,279
  (0.177)    
Income decile 9 -0.101 0.126 -982
  (0.188)    
Income decile 10 0.201 0.123 2,275
  (0.205)    
Age 0.024 37.5 -3,867^
  (0.016)    
Age squared -0.001    
  (0.00016)**    
Maori/Pacific 0.027 0.166 232
  (0.084)    
Other ethnicity 0.083 0.060 739
  (0.149)    
1 kid 0.141 0.082 1,303
  (0.103)    
2+ kids -0.045 0.080 -379
  (0.121)    
Migrant -0.12 0.160 -999
  (0.107)    
School or vocational quals 0.251 0.541 1,890
  (0.076)**    
Degree 0.781 0.166 7,859
  (0.104)**    
Good health 0.105 0.921 871
  (0.117)    
Waikato 0.157 0.094 1,531
  (0.115)    
Wellington -0.05 0.131 -434
  (0.104)    
Other North Island -0.142 0.194 -1,189
  (0.101)    
Canterbury -0.109 0.149 -925
  (0.102)    
Other South Island -0.006 0.133 -54
  (0.107)    
Unemployed -0.494 0.029 -3,676
  (0.182)**    
Not in labour force -0.274 0.260 -2,261
  (0.107)**    
Maximum income from government 0.167 0.273 1,500
  (0.109)    
Maximum income from other source 0.013 0.127 105
  (0.122)    
Married -0.155 0.038 -1,113
  (0.228)    
Divorced 0.493 0.143 4,939
  (0.104)**    
Widowed 0.086 0.085 694
  (0.183)    
Separated 0.39 0.101 3,691
  (0.122)**    
Years in employment 0.011 15.4 1,030^
  (0.006)    
Home owner 1.427 0.336 16,957
  (0.149)**    
Constant 8.063    
  (0.349)**    
Observations 4,460    
R-squared 0.33    

Notes:

Robust standard errors are shown in parentheses below the coefficients

* significant at 5%; ** significant at 1%

^ For age and years in employment, marginal effects are for an additional 10 years relative to the mean

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