Appendix A. 55 TABLE A.11: Income gap decomposition for the age group 45-65 Country Quantile: 10th 20th 30th 40th 50th 60th 70th 80th 90th Explained Austria 0.332*** (0.079) 0.351*** (0.059) 0.304*** (0.042) 0.283*** (0.034) 0.240*** (0.029) 0.204*** (0.028) 0.171*** (0.030) 0.187*** (0.031) 0.224*** (0.032) Belgium 0.239*** (0.054) 0.262*** (0.039) 0.277*** (0.038) 0.237*** (0.031) 0.184*** (0.026) 0.143*** (0.022) 0.118*** (0.020) 0.091*** (0.020) 0.106*** (0.025) Bulgaria 0.005 (0.087) 0.049 (0.035) 0.050* (0.026) 0.046** (0.023) 0.041* (0.022) 0.024 (0.021) -0.001 (0.022) -0.053** (0.024) -0.076** (0.034) Croatia -0.007 (0.161) 0.106*** (0.039) 0.186*** (0.035) 0.158*** (0.027) 0.115*** (0.023) 0.108*** (0.023) 0.063*** (0.023) 0.027 (0.023) 0.007 (0.022) Czechia 0.245*** (0.039) 0.289*** (0.028) 0.256*** (0.025) 0.197*** (0.024) 0.135*** (0.021) 0.091*** (0.019) 0.080*** (0.018) 0.075*** (0.017) 0.090*** (0.026) Denmark 0.098* (0.059) 0.134*** (0.035) 0.114*** (0.021) 0.075*** (0.016) 0.046*** (0.016) 0.015 (0.016) -0.007 (0.015) -0.017 (0.016) -0.006 (0.022) Estonia -0.102 (0.067) -0.029 (0.043) -0.081 (0.052) -0.071 (0.046) -0.050 (0.037) -0.025 (0.034) -0.052 (0.035) -0.084** (0.040) -0.106* (0.060) Finland -0.055 (0.037) -0.093*** (0.035) -0.030 (0.029) -0.006 (0.022) 0.012 (0.017) 0.013 (0.016) 0.015 (0.014) 0.009 (0.013) 0.004 (0.015) France 0.180*** (0.041) 0.202*** (0.027) 0.145*** (0.019) 0.134*** (0.017) 0.109*** (0.017) 0.101*** (0.019) 0.084*** (0.018) 0.104*** (0.019) 0.131*** (0.030) Germany 0.443*** (0.054) 0.636*** (0.048) 0.488*** (0.031) 0.318*** (0.023) 0.235*** (0.019) 0.191*** (0.017) 0.193*** (0.015) 0.179*** (0.016) 0.229*** (0.020) Greece 0.569 (0.553) 0.206** (0.086) 0.221*** (0.045) 0.155*** (0.026) 0.109*** (0.016) 0.101*** (0.012) 0.102*** (0.012) 0.127*** (0.012) 0.154*** (0.018) Hungary -0.001 (0.049) 0.084*** (0.032) 0.111*** (0.026) 0.065*** (0.021) 0.039** (0.020) 0.016 (0.021) -0.002 (0.023) -0.023 (0.021) -0.020 (0.023) Latvia -0.215** (0.104) -0.047 (0.073) 0.016 (0.050) -0.022 (0.042) -0.032 (0.037) -0.040 (0.032) -0.051* (0.031) -0.093*** (0.032) -0.095** (0.037) Lithuania -0.102 (0.179) -0.003 (0.076) -0.055 (0.052) -0.016 (0.039) -0.017 (0.037) -0.043 (0.037) -0.046 (0.037) -0.053 (0.038) -0.067 (0.045) Netherlands 0.340*** (0.044) 0.439*** (0.035) 0.379*** (0.024) 0.317*** (0.019) 0.268*** (0.017) 0.230*** (0.016) 0.223*** (0.016) 0.212*** (0.018) 0.212*** (0.022) Norway 0.094*** (0.035) 0.100*** (0.023) 0.104*** (0.019) 0.105*** (0.016) 0.089*** (0.016) 0.091*** (0.017) 0.061*** (0.019) 0.053*** (0.017) 0.028 (0.028) Poland 0.083 (0.093) 0.169*** (0.030) 0.200*** (0.026) 0.146*** (0.019) 0.095*** (0.018) 0.079*** (0.017) 0.062*** (0.017) 0.045** (0.019) -0.003 (0.023) Portugal -0.047 (0.227) 0.212*** (0.044) 0.150*** (0.029) 0.129*** (0.023) 0.106*** (0.022) 0.080*** (0.024) 0.029 (0.024) 0.024 (0.025) 0.024 (0.029) Romania 0.494** (0.219) 0.400*** (0.088) 0.321*** (0.036) 0.253*** (0.025) 0.176*** (0.019) 0.155*** (0.019) 0.121*** (0.019) 0.075*** (0.018) 0.073*** (0.022) Serbia -0.183*** (0.056) -0.637*** (0.108) -0.640*** (0.105) -0.151*** (0.054) 0.005 (0.038) 0.056* (0.032) 0.095*** (0.029) 0.055* (0.029) 0.082*** (0.026) Slovakia 0.071 (0.099) 0.113*** (0.030) 0.095*** (0.025) 0.104*** (0.021) 0.074*** (0.018) 0.059*** (0.015) 0.051*** (0.015) 0.053*** (0.018) 0.056*** (0.020) Slovenia 0.036 (0.036) 0.033 (0.021) 0.059*** (0.022) 0.073*** (0.023) 0.072*** (0.022) 0.048** (0.019) 0.007 (0.017) -0.030* (0.018) -0.039* (0.020) Spain 0.325*** (0.065) 0.322*** (0.045) 0.301*** (0.033) 0.260*** (0.026) 0.192*** (0.021) 0.123*** (0.018) 0.100*** (0.016) 0.078*** (0.016) 0.057*** (0.016) Sweden 0.169** (0.067) 0.139*** (0.044) 0.121*** (0.023) 0.099*** (0.017) 0.072*** (0.016) 0.048*** (0.015) 0.030* (0.016) 0.026 (0.018) 0.023 (0.020) UK 0.174** (0.073) 0.208*** (0.043) 0.274*** (0.037) 0.239*** (0.027) 0.182*** (0.023) 0.170*** (0.022) 0.130*** (0.022) 0.126*** (0.023) 0.165*** (0.034) Unexplained Austria 1.018*** (0.166) 0.346*** (0.079) 0.374*** (0.051) 0.310*** (0.041) 0.315*** (0.035) 0.305*** (0.033) 0.292*** (0.035) 0.248*** (0.036) 0.175*** (0.037) Belgium 1.551*** (0.255) 0.275*** (0.055) 0.266*** (0.046) 0.266*** (0.036) 0.305*** (0.032) 0.254*** (0.030) 0.215*** (0.028) 0.181*** (0.027) 0.227*** (0.033) Bulgaria 0.242 (0.172) 0.183*** (0.048) 0.197*** (0.036) 0.136*** (0.031) 0.178*** (0.030) 0.203*** (0.030) 0.231*** (0.031) 0.287*** (0.035) 0.383*** (0.052) Croatia 5.352*** (0.177) 1.168*** (0.167) 0.398*** (0.047) 0.399*** (0.036) 0.270*** (0.032) 0.247*** (0.028) 0.300*** (0.029) 0.289*** (0.033) 0.149*** (0.036) Czechia 0.077 (0.060) 0.018 (0.033) 0.124*** (0.025) 0.211*** (0.025) 0.277*** (0.024) 0.298*** (0.023) 0.269*** (0.023) 0.246*** (0.022) 0.269*** (0.033) Denmark -0.103 (0.082) -0.020 (0.046) 0.017 (0.027) 0.069*** (0.021) 0.113*** (0.019) 0.191*** (0.020) 0.231*** (0.020) 0.286*** (0.023) 0.356*** (0.036) Estonia -0.068 (0.099) -0.031 (0.054) 0.024 (0.061) 0.171*** (0.057) 0.254*** (0.049) 0.253*** (0.046) 0.263*** (0.050) 0.330*** (0.058) 0.393*** (0.088) Finland -0.008 (0.047) 0.081* (0.045) 0.072** (0.034) 0.112*** (0.025) 0.145*** (0.020) 0.179*** (0.019) 0.205*** (0.018) 0.238*** (0.019) 0.247*** (0.026) France 0.712*** (0.082) 0.331*** (0.042) 0.250*** (0.031) 0.169*** (0.024) 0.173*** (0.023) 0.187*** (0.024) 0.218*** (0.024) 0.224*** (0.026) 0.280*** (0.036) Germany 0.692*** (0.122) 0.200*** (0.064) 0.294*** (0.040) 0.424*** (0.030) 0.409*** (0.025) 0.387*** (0.023) 0.313*** (0.021) 0.278*** (0.021) 0.246*** (0.023) Greece 6.507*** (0.583) 7.938*** (0.091) 2.272*** (0.117) 1.135*** (0.066) 0.740*** (0.034) 0.457*** (0.025) 0.302*** (0.022) 0.207*** (0.021) 0.188*** (0.025) Hungary 0.023 (0.082) 0.001 (0.048) -0.011 (0.035) 0.050* (0.027) 0.106*** (0.025) 0.132*** (0.026) 0.181*** (0.031) 0.149*** (0.031) 0.152*** (0.036) Latvia 0.173 (0.144) 0.066 (0.089) 0.105* (0.058) 0.144*** (0.045) 0.200*** (0.041) 0.217*** (0.038) 0.182*** (0.039) 0.215*** (0.042) 0.274*** (0.053) Lithuania -0.283 (0.272) 0.014 (0.103) 0.101* (0.060) 0.143*** (0.046) 0.129*** (0.047) 0.140*** (0.047) 0.146*** (0.050) 0.188*** (0.057) 0.215*** (0.071) Netherlands 1.770*** (0.132) 0.523*** (0.061) 0.416*** (0.036) 0.405*** (0.026) 0.398*** (0.023) 0.404*** (0.021) 0.379*** (0.021) 0.366*** (0.023) 0.340*** (0.027) Norway 0.196*** (0.047) 0.212*** (0.030) 0.172*** (0.024) 0.164*** (0.020) 0.186*** (0.020) 0.208*** (0.020) 0.279*** (0.023) 0.342*** (0.023) 0.424*** (0.039) Poland 6.268*** (0.121) 0.494*** (0.116) 0.287*** (0.037) 0.308*** (0.029) 0.301*** (0.024) 0.325*** (0.022) 0.310*** (0.023) 0.262*** (0.027) 0.246*** (0.034) Portugal 7.737*** (0.286) 1.277*** (0.246) 0.475*** (0.051) 0.257*** (0.033) 0.264*** (0.029) 0.392*** (0.029) 0.466*** (0.030) 0.365*** (0.036) 0.325*** (0.043) Romania 4.498*** (0.248) 1.712*** (0.199) 0.692*** (0.097) 0.306*** (0.038) 0.270*** (0.028) 0.205*** (0.025) 0.221*** (0.026) 0.267*** (0.027) 0.201*** (0.034) Serbia 0.421*** (0.066) 1.340*** (0.119) 1.543*** (0.152) 0.527*** (0.074) 0.338*** (0.051) 0.219*** (0.041) 0.177*** (0.035) 0.204*** (0.037) 0.138*** (0.041) Slovakia 0.039 (0.135) 0.097** (0.040) 0.127*** (0.031) 0.172*** (0.026) 0.215*** (0.022) 0.218*** (0.021) 0.188*** (0.022) 0.210*** (0.025) 0.256*** (0.031) Slovenia 0.176*** (0.067) 0.094*** (0.031) 0.110*** (0.031) 0.073** (0.030) 0.039 (0.025) 0.101*** (0.022) 0.111*** (0.022) 0.092*** (0.025) 0.132*** (0.032) Spain 4.881*** (0.333) 1.382*** (0.121) 0.632*** (0.056) 0.517*** (0.039) 0.454*** (0.030) 0.452*** (0.028) 0.357*** (0.026) 0.274*** (0.025) 0.178*** (0.028) Sweden -0.021 (0.098) 0.053 (0.058) 0.067** (0.029) 0.085*** (0.021) 0.116*** (0.019) 0.151*** (0.019) 0.189*** (0.020) 0.195*** (0.025) 0.249*** (0.031) UK 0.688*** (0.176) 0.261*** (0.065) 0.185*** (0.049) 0.220*** (0.036) 0.265*** (0.030) 0.248*** (0.029) 0.320*** (0.030) 0.305*** (0.032) 0.342*** (0.045) Note: * p < 0.10, ** p < 0.05, *** p < 0.01 Standard errors in parenthesis. Source: author’s calculations from EU-SILC 2016 data.
56 Appendix A. TABLE A.12: Income gap decomposition for the age group >65 Country Quantile: 10th 20th 30th 40th 50th 60th 70th 80th 90th Explained Austria 0.105* (0.059) 0.168*** (0.044) 0.143*** (0.034) 0.116*** (0.030) 0.104*** (0.026) 0.092*** (0.024) 0.088*** (0.024) 0.133*** (0.026) 0.168*** (0.034) Belgium 0.168*** (0.047) 0.119*** (0.032) 0.097*** (0.026) 0.076*** (0.025) 0.080*** (0.025) 0.119*** (0.019) 0.112*** (0.018) 0.119*** (0.020) 0.144*** (0.027) Bulgaria 0.073*** (0.023) 0.059*** (0.016) 0.066*** (0.016) 0.057*** (0.016) 0.058*** (0.017) 0.069*** (0.018) 0.064*** (0.021) 0.046* (0.024) 0.047* (0.028) Croatia 0.890*** (0.159) 0.320*** (0.053) 0.314*** (0.035) 0.302*** (0.028) 0.223*** (0.028) 0.149*** (0.022) 0.128*** (0.021) 0.103*** (0.031) 0.073 (0.056) Czechia 0.015** (0.007) 0.016** (0.008) 0.014 (0.010) 0.010 (0.009) 0.003 (0.008) -0.006 (0.008) 0.004 (0.014) 0.006 (0.014) 0.103*** (0.029) Denmark -0.049*** (0.011) -0.073*** (0.012) -0.080*** (0.014) -0.077*** (0.016) -0.070*** (0.018) -0.051** (0.021) -0.009 (0.026) 0.052** (0.025) 0.121*** (0.028) Estonia 0.071** (0.034) 0.064*** (0.021) 0.027** (0.012) 0.024** (0.011) 0.017 (0.011) 0.018 (0.013) 0.040 (0.024) 0.108* (0.058) 0.153* (0.082) Finland 0.026 (0.021) 0.021 (0.022) 0.063*** (0.023) 0.077*** (0.023) 0.068*** (0.023) 0.093*** (0.022) 0.121*** (0.023) 0.125*** (0.026) 0.153*** (0.034) France 0.071** (0.028) 0.030 (0.018) 0.020 (0.017) 0.025 (0.017) 0.039** (0.019) 0.044** (0.022) 0.050** (0.024) 0.044 (0.031) 0.089*** (0.033) Germany 0.199*** (0.047) 0.080*** (0.026) 0.039* (0.020) 0.026 (0.018) 0.039** (0.017) 0.048*** (0.018) 0.046** (0.021) 0.092*** (0.026) 0.104*** (0.040) Greece 0.125*** (0.042) 0.184*** (0.043) 0.202*** (0.055) 0.267*** (0.041) 0.242*** (0.033) 0.211*** (0.030) 0.165*** (0.030) 0.174*** (0.012) 0.125*** (0.012) Hungary 0.030 (0.046) 0.009 (0.027) 0.035 (0.022) 0.021 (0.023) 0.044** (0.021) 0.066*** (0.021) 0.078*** (0.023) 0.090*** (0.033) 0.158*** (0.032) Latvia 0.063** (0.025) 0.039** (0.020) 0.037** (0.018) 0.024 (0.019) 0.046** (0.022) 0.077*** (0.027) 0.152*** (0.041) 0.276*** (0.074) 0.276*** (0.061) Lithuania 0.024 (0.038) 0.024 (0.029) 0.050* (0.029) 0.052* (0.028) 0.049* (0.027) 0.046 (0.030) 0.100** (0.042) 0.126** (0.050) 0.142 (0.099) Netherlands 0.093** (0.042) 0.113*** (0.028) 0.101*** (0.026) 0.150*** (0.026) 0.202*** (0.024) 0.193*** (0.023) 0.212*** (0.020) 0.212*** (0.024) 0.250*** (0.024) Norway -0.026 (0.029) 0.000 (0.030) 0.019 (0.027) 0.035 (0.025) 0.071*** (0.024) 0.084*** (0.025) 0.112*** (0.032) 0.111*** (0.034) 0.175*** (0.046) Poland 0.041 (0.031) 0.071*** (0.026) 0.077*** (0.022) 0.062*** (0.019) 0.042** (0.018) 0.044** (0.018) 0.045** (0.020) 0.058*** (0.022) 0.081*** (0.027) Portugal 0.050** (0.021) 0.180*** (0.021) 0.175*** (0.022) 0.204*** (0.025) 0.249*** (0.027) 0.301*** (0.030) 0.288*** (0.034) 0.239*** (0.031) 0.188*** (0.034) Romania 0.179*** (0.045) 0.335*** (0.040) 0.282*** (0.029) 0.194*** (0.022) 0.168*** (0.022) 0.195*** (0.017) 0.166*** (0.018) 0.126*** (0.016) 0.096*** (0.019) Serbia 0.750*** (0.093) 0.667*** (0.068) 0.388*** (0.036) 0.290*** (0.030) 0.245*** (0.023) 0.195*** (0.020) 0.176*** (0.020) 0.129*** (0.022) 0.113*** (0.032) Slovakia 0.037** (0.019) 0.030** (0.015) 0.009 (0.013) -0.010 (0.013) -0.020 (0.016) -0.024 (0.018) -0.025 (0.018) -0.004 (0.020) 0.014 (0.024) Slovenia 0.142*** (0.030) 0.093*** (0.020) 0.098*** (0.017) 0.091*** (0.016) 0.096*** (0.016) 0.077*** (0.019) 0.091*** (0.025) 0.112*** (0.029) 0.096*** (0.028) Spain 0.373*** (0.077) 0.347*** (0.034) 0.301*** (0.034) 0.312*** (0.033) 0.289*** (0.033) 0.225*** (0.038) 0.218*** (0.030) 0.170*** (0.030) 0.085*** (0.019) Sweden 0.025 (0.029) 0.036 (0.024) 0.052** (0.021) 0.076*** (0.018) 0.085*** (0.019) 0.106*** (0.024) 0.077*** (0.027) 0.085*** (0.031) 0.027 (0.038) UK -0.024 (0.024) -0.035* (0.019) -0.024 (0.018) -0.003 (0.019) 0.016 (0.021) 0.037 (0.024) 0.065** (0.026) 0.085*** (0.025) 0.149*** (0.034) Unexplained Austria 1.941*** (0.255) 0.822*** (0.078) 0.610*** (0.051) 0.556*** (0.041) 0.547*** (0.037) 0.474*** (0.035) 0.411*** (0.035) 0.337*** (0.034) 0.256*** (0.041) Belgium 3.407*** (0.675) 1.139*** (0.181) 0.359*** (0.047) 0.281*** (0.034) 0.264*** (0.032) 0.221*** (0.025) 0.217*** (0.024) 0.198*** (0.026) 0.135*** (0.035) Bulgaria 0.148*** (0.035) 0.190*** (0.025) 0.175*** (0.024) 0.207*** (0.024) 0.238*** (0.024) 0.268*** (0.025) 0.313*** (0.030) 0.328*** (0.036) 0.311*** (0.046) Croatia 0.174 (0.208) 0.193*** (0.065) 0.041 (0.043) -0.009 (0.033) 0.166*** (0.032) 0.218*** (0.027) 0.127*** (0.026) 0.147*** (0.035) 0.249*** (0.061) Czechia 0.158*** (0.010) 0.141*** (0.011) 0.094*** (0.012) 0.124*** (0.011) 0.142*** (0.009) 0.122*** (0.010) 0.115*** (0.016) 0.109*** (0.017) 0.067** (0.033) Denmark 0.134*** (0.017) 0.136*** (0.017) 0.115*** (0.022) 0.099*** (0.024) 0.113*** (0.027) 0.119*** (0.031) 0.159*** (0.038) 0.106*** (0.039) 0.100** (0.042) Estonia -0.192*** (0.046) -0.117*** (0.028) -0.020 (0.016) -0.008 (0.015) 0.007 (0.015) 0.024 (0.016) 0.061** (0.030) 0.122* (0.066) 0.214** (0.102) Finland 0.093*** (0.030) 0.127*** (0.029) 0.124*** (0.030) 0.120*** (0.029) 0.153*** (0.029) 0.144*** (0.027) 0.149*** (0.028) 0.203*** (0.031) 0.247*** (0.041) France 0.726*** (0.063) 0.460*** (0.030) 0.373*** (0.027) 0.298*** (0.026) 0.248*** (0.027) 0.229*** (0.029) 0.218*** (0.031) 0.217*** (0.040) 0.256*** (0.050) Germany 0.907*** (0.070) 0.724*** (0.044) 0.575*** (0.032) 0.509*** (0.026) 0.445*** (0.025) 0.385*** (0.026) 0.348*** (0.028) 0.310*** (0.033) 0.390*** (0.046) Greece 8.833*** (0.044) 0.286*** (0.048) 0.343*** (0.057) 0.262*** (0.044) 0.234*** (0.035) 0.276*** (0.032) 0.319*** (0.032) 0.257*** (0.016) 0.216*** (0.018) Hungary 0.093 (0.065) 0.084** (0.035) 0.053* (0.029) 0.080*** (0.028) 0.072*** (0.026) 0.083*** (0.026) 0.106*** (0.028) 0.118*** (0.039) 0.068* (0.039) Latvia -0.065* (0.034) -0.016 (0.025) 0.033 (0.023) 0.071*** (0.024) 0.086*** (0.027) 0.096*** (0.031) 0.098** (0.044) 0.111 (0.080) 0.139* (0.076) Lithuania 0.116** (0.050) 0.150*** (0.040) 0.137*** (0.041) 0.138*** (0.038) 0.128*** (0.035) 0.160*** (0.039) 0.137*** (0.052) 0.181*** (0.064) 0.263** (0.109) Netherlands 0.257*** (0.052) 0.395*** (0.036) 0.462*** (0.033) 0.362*** (0.037) 0.274*** (0.033) 0.327*** (0.029) 0.324*** (0.026) 0.343*** (0.029) 0.347*** (0.028) Norway 0.357*** (0.038) 0.349*** (0.039) 0.336*** (0.035) 0.290*** (0.033) 0.223*** (0.031) 0.203*** (0.032) 0.181*** (0.039) 0.260*** (0.041) 0.195*** (0.056) Poland 0.091** (0.040) 0.134*** (0.033) 0.160*** (0.028) 0.202*** (0.024) 0.229*** (0.022) 0.230*** (0.022) 0.257*** (0.024) 0.237*** (0.027) 0.252*** (0.033) Portugal 0.277*** (0.036) 0.170*** (0.027) 0.175*** (0.029) 0.170*** (0.032) 0.176*** (0.033) 0.163*** (0.035) 0.307*** (0.038) 0.379*** (0.040) 0.268*** (0.043) Romania 0.074 (0.054) 0.050 (0.045) 0.093*** (0.033) 0.234*** (0.026) 0.121*** (0.024) 0.117*** (0.019) 0.227*** (0.019) 0.317*** (0.020) 0.120*** (0.027) Serbia 1.088*** (0.154) -0.183** (0.079) 0.128*** (0.043) 0.213*** (0.038) 0.210*** (0.032) 0.192*** (0.030) 0.148*** (0.029) 0.151*** (0.032) 0.204*** (0.047) Slovakia 0.081*** (0.026) 0.082*** (0.021) 0.063*** (0.018) 0.063*** (0.018) 0.072*** (0.021) 0.077*** (0.023) 0.068*** (0.024) 0.058** (0.026) 0.063* (0.032) Slovenia 0.074* (0.041) 0.128*** (0.027) 0.124*** (0.024) 0.111*** (0.022) 0.080*** (0.022) 0.096*** (0.023) 0.112*** (0.031) 0.173*** (0.037) 0.216*** (0.041) Spain 3.991*** (0.230) 1.300*** (0.132) 0.367*** (0.049) 0.132*** (0.034) 0.277*** (0.034) 0.435*** (0.039) 0.421*** (0.033) 0.450*** (0.035) 0.430*** (0.031) Sweden 0.230*** (0.041) 0.222*** (0.033) 0.189*** (0.027) 0.190*** (0.024) 0.178*** (0.024) 0.203*** (0.028) 0.288*** (0.032) 0.281*** (0.040) 0.363*** (0.052) UK 0.679*** (0.038) 0.528*** (0.031) 0.452*** (0.029) 0.413*** (0.030) 0.340*** (0.030) 0.338*** (0.033) 0.328*** (0.035) 0.363*** (0.036) 0.382*** (0.051) Note: * p < 0.10, ** p < 0.05, *** p < 0.01 Standard errors in parenthesis. Source: author’s calculations from EU-SILC 2016 data.