Table 7. The Propensity to Consume out of the Windfall Transfers. The First and Second Waves of Voucher Privatization (Standard errors are in parentheses). We did not put predictive portion of the windfall spent, since it is hard to justify the reference period.
 
Age category and # of observations
Mean age (B)
Mean remaining life exp.a
(A)
(B)
(H)
Age
Sex
Obs (H, A)
Obs. (B)

 
<25
M
19
84
22.3
48
.33

(.07)
.19

(.04)
.24

(.08)
F
13
59
22.5
55
.53

(.16)
.25

(.08)
.38

(.17)
26-35
M
59
128
30.2
41
.79

(.07)
.35

(.04)
.72

(.07)
F
54
140
30.6
48
.71

(.06)
.32

(.03)
.63

(.07)
36-45
M
40
127
40.8
31
.22

(.03)
.15

(.02)
.21

(.03)
F
49
134
40.5
37
.57

(.06)
.19

(.03)
.54

(.06)
46-55
M
42
126
50.3
23
.51

(.06)
.25

(.04)
.49

(.06)
F
77
159
50.5
28
.44

(.05)
.26

(.03)
.41

(.05)
56-65
M
25
84
60.9
15
.66

(.12)
.22

(.05)
.61

(.12)
F
37
98
60.7
20
.81

(.07)
.28

(.03)
.78

(.07)
> 66
M
20
51
70.2
10
.91

(.11)
.44

(.06)
.84

(.12)
F
19
60
71.5
12
.29

(.14)
.11

(.06)
.30

(.18)

Obs. (H, A) and Obs. (B) denote the number of observations under assumption A (or Heckman) and B, respectively.

a Source: Abridged life tables of 1994, Czech Statistical Yearbook 1996