Remittance income uncertainty and asset accumulation

IZA Journal of Labor & Development

Table 11 First stage tobit models predicting remittance income and remittance income uncertainty

Independent variables	Remittance income		Remittance income volatility
Independent variables	Coefficient	Robust S.E.	Coefficient	Robust S.E.
Unemployment rate volatility	−359.988***	130.535	−42.204***	15.794
U.S. earnings volatility	−104.231***	24.900	−8.959***	3.068
Number of observations	159,523		153,430
Uncensored observations	9,441		6,093
Joint F-statistic of the IVs:
F-statistic	13.35		8.34
Prob > F	0.0000		0.0000

Notes: ***Significant at the 1 percent level or better, **significant at 5 percent level or better and *significant at the 10 percent level or better. The regressions also include a constant and all other regressors in Table 7. Standard errors are clustered at the state level.