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Household Debt in New Zealand
Appendix Table A.2 - Debt regression results for couples
Dependent variable is the logarithm of debt Regression coefficient Sample means Marginal effect on debt
Asset decile 2 0.373 0.102 3,847
  (0.12)**    
Asset decile 3 1.034 0.097 15,411
  (0.146)**    
Asset decile 4 1.426 0.102 26,868
  (0.151)**    
Asset decile 5 1.445 0.100 27,539
  (0.155)**    
Asset decile 6 1.429 0.106 26,985
  (0.168)**    
Asset decile 7 1.452 0.102 27,806
  (0.17)**    
Asset decile 8 1.426 0.099 26,875
  (0.195)**    
Asset decile 9 1.791 0.101 42,433
  (0.187)**    
Asset decile 10 2.019 0.097 55,480
  (0.205)**    
Income decile 2 0.099 0.081 2,156
  (0.163)    
Income decile 3 0.188 0.095 4,279
  (0.168)    
Income decile 4 0.275 0.099 6,537
  (0.168)    
Income decile 5 0.326 0.107 7,970
  (0.171)    
Income decile 6 0.171 0.109 3,851
  (0.172)    
Income decile 7 0.372 0.111 9,322
  (0.174)*    
Income decile 8 0.57 0.110 15,876
  (0.185)**    
Income decile 9 0.615 0.109 17,574
  (0.181)**    
Income decile 10 0.759 0.102 23,496
  (0.193)**    
Sum of age 0.025 89.0 -16,866^
  (0.011)*    
Sum-of-age squared -0.0003    
  (0.00005)**    
Both Maori/Pacific 0.202 0.084 6,415
  (0.094)*    
Both Other -0.335 0.059 -8,180
  (0.169)*    
Maori-European mix 0.247 0.091 8,057
  (0.102)*    
Other ethnicity 0.255 0.028 8,346
  (0.183)    
1 kid 0.055 0.174 1,630
  (0.084)    
2+ kids 0.031 0.326 906
  (0.074)    
Migrants 0.163 0.142 5,235
  (0.112)    
One migrant -0.132 0.170 -3,636
  (0.087)    
Both school or vocational -0.031 0.281 -844
  (0.095)    
Both degree 0.121 0.092 3,593
  (0.138)    
One degree 0.111 0.166 3,299
  (0.11)    
One unskilled, one school or vocational 0.102 0.290 2,998
  (0.09)    
Both good health -0.104 0.894 -3,208
  (0.268)    
One good health -0.04 0.094 -1,283
  (0.276)    
Waikato 0.036 0.103 1,190
  (0.115)    
Wellington -0.13 0.117 -4,001
  (0.101)    
Other North Island -0.12 0.228 -3,699
  (0.088)    
Canterbury -0.175 0.133 -5,265
  (0.092)    
Other South Island -0.368 0.114 -10,071
  (0.113)**    
Both unemployed -0.058 0.002 -1,870
  (0.511)    
Both out of the labour force -0.693 0.089 -16,473
  (0.186)**    
One employed -0.181 0.227 -5,456
  (0.077)*    
Unemployed/not-in-labour-force mix -1.407 0.006 -24,898
  (0.477)**    
Maximum income from government 0.235 0.094 7,721
  (0.16)    
Maximum income from other source -0.049 0.232 -1,388
  (0.087)    
Neither partner ever married -0.303 0.118 -7,807
  (0.091)**    
Other marital status mix 0.333 0.1 11,774
  (0.092)**    
Sum of years in employment 0.001 44.609 716^
  (0.004)    
Home owners 1.06 0.677 27,170
  (0.102)**    
Constant 8.6    
  (0.539)**    
Observations 4,755    
R-squared 0.40    

Note:

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 20 years relative to the mean

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