| |
Payment date within municipalities
|
|---|
| |
Earliest pay date
|
Latest pay date
|
|---|
| |
(1)
|
(2)
|
(3)
|
(4)
|
|---|
|
Panel A
| | | | |
|
Coefficient on linear specification
|
0.127***
|
0.131***
|
0.119***
|
0.123***
|
| |
(0.014)
|
(0.013)
|
(0.025)
|
(0.039)
|
| |
[0.523]
|
[0.546]
|
[0.489]
|
[0.557]
|
|
Panel B
| | | | |
|
Transfer occurred (with respect to the reference day):
| | | | |
|
At least 7 days before
|
0.157***
|
0.109***
|
0.123**
|
0.173***
|
| |
(0.044)
|
(0.034)
|
(0.041)
|
(0.053)
|
|
5or 6 days before
|
-0.288**
|
-0.268*
|
-0.230*
|
-0.196*
|
| |
(0.116)
|
(0.156)
|
(0.101)
|
(0.091)
|
|
3 or 4 days before
|
-0.434**
|
-0.489**
|
-0.339
|
-0.432**
|
| |
(0.228)
|
(0.204)
|
(0.243)
|
(0.213)
|
|
2 days before
|
-0.251
|
-0.266
|
-0.252
|
-0.209
|
| |
(0.237)
|
(0.212)
|
(0.212)
|
(0.221)
|
|
1 day before
|
0.053
|
-0.067
|
-0.039
|
0.051
|
| |
(0.234)
|
(0.209)
|
(0.249)
|
(0.219)
|
|
1 day after
|
0.180
|
0.174
|
0.178
|
0.263
|
| |
(0.244)
|
(0.219)
|
(0.256)
|
(0.227)
|
|
2 days after
|
0.343
|
0.313
|
0.442*
|
0.448**
|
| |
(0.247)
|
(0.223)
|
(0.257)
|
(0.230)
|
|
3 or 4 days after
|
0.243
|
0.203
|
0.326
|
0.380*
|
| |
(0.231)
|
(0.209)
|
(0.242)
|
(0.217)
|
|
5 or 6 days after
|
0.829***
|
0.818***
|
0.962***
|
1.023***
|
| |
(0.263)
|
(0.241)
|
(0.278)
|
(0.252)
|
|
At least 7 days after
|
1.132***
|
1.203***
|
1.267***
|
1.134***
|
| |
(0.276)
|
(0.253)
|
(0.294)
|
(0.277)
|
| |
[0.520]
|
[0.610]
|
[0.519]
|
[0.537]
|
|
Individual fixed effects
|
Yes
|
Yes
|
Yes
|
Yes
|
|
Observations
|
5,789
|
7,105
|
5,789
|
7,105
|
|
Number of individuals
|
827
|
1,015
|
827
|
1,015
|
-
Notes: Robust standard errors in parentheses. R-squared in brackets.
- ***p < 0.01, **p < 0.05, *p < 0.1.
