(1)

(2)

(3)

(4)

π

0.130^***

0.026

(8.07)

(1.64)

πa

0.123^***

0.017

(5.93)

(0.82)

πu

0.137^***

0.041^**

(6.56)

(2.01)

unemployment

−0.041^***

−0.042^***

−0.012

−0.014

(−3.89)

(−3.90)

(−1.22)

(−1.33)

growth

−0.044^***

−0.044^***

−0.025^***

−0.024^***

(−9.19)

(−8.98)

(−5.30)

(−4.97)

inequality

0.033^**

0.035^**

0.006

0.011

(2.26)

(2.32)

(0.46)

(0.76)

male

−0.088^***

−0.089^***

(−5.95)

(−6.04)

age

−0.020^***

−0.020^***

(−7.23)

(−7.03)

age2/100

0.027^***

0.026^***

(9.77)

(9.68)

edu

0.018^***

0.019^***

(8.23)

(8.67)

commie

0.069^***

0.073^***

(2.81)

(2.98)

income

0.000^*

0.000^**

(1.85)

(2.02)

urban_hukou

−0.019

−0.010

(−1.06)

(−0.56)

health

0.316^***

0.319^***

(16.37)

(16.53)

nation

−0.057^**

−0.059^**

(−2.08)

(−2.12)

employment

−0.021

−0.020

(−1.15)

(−1.15)

married

0.177^***

0.177^***

(8.88)

(8.88)

divorced

−0.251^***

−0.246^***

(−5.50)

(−5.40)

social_status

−0.168^***

−0.167^***

(−13.61)

(−13.60)

social_status1

0.037^***

0.031^***

(3.85)

(3.03)

social_status2

−0.186^***

−0.135^***

(−18.29)

(−11.54)

Constant

3.977^***

3.983^***

4.073^***

4.139^***

(59.31)

(58.59)

(40.45)

(41.28)

Observations

12,436

12,436

12,436

12,436

R-squared

0.012

0.012

0.129

0.128