add 42

42/paper.pdf

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+version https://git-lfs.github.com/spec/v1
+oid sha256:c65fcfc406c7446ee12503882c5b5624da7ebb6686972f7957c0a1a4e39fa9ab
+size 847943

42/replication_package/README.pdf

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+version https://git-lfs.github.com/spec/v1
+oid sha256:30c6e6758b5c2df842797d05d5320a53d46d702322591fc9ed84427e0204c335
+size 125888

42/replication_package/data_replication/psid/code/consumption.do

@@ -0,0 +1,136 @@
+
+clear all
+set more off
+set maxvar 10000
+
+*Set path
+***
+
+*cd ---- specify path to \data_replication\psid\
+
+local procdata  "./proc_data/"
+local rawdata  "./raw_data/"
+
+cd proc_data
+
+use for_reg.dta, clear
+
+*Prepare the panel
+drop if age<25 & year==1999
+drop if age>85 & year==2011
+bys hid: gen nyear=[_N]
+keep if nyear==7
+
+keep fam_ID year hid
+save income_panel2.dta, replace
+
+cd ..
+
+
+*###############################################################################
+*Prepare the refinancing data for each year
+*###############################################################################
+foreach x of numlist 99 01 03 05 07 09 11{
+clear
+*###############################################################################
+*Prepare the consumption data
+*###############################################################################
+
+if `x'==99 | `x'==11{
+*Convert PSID consumption files to stata format
+cd raw_data
+do CON`x'.do
+ren CON`x'_ID fam_ID
+if `x'==99 {
+gen year=19`x'
+*join with income
+cd ..
+joinby fam_ID year using `procdata'income_panel2.dta, unmatched(both)
+drop if _merge!=3
+drop _merge 
+save `procdata'cons_temp19`x'.dta,replace
+}
+else{
+gen year=20`x'
+*join with income
+cd ..
+joinby fam_ID year using `procdata'income_panel2.dta, unmatched(both)
+drop if _merge!=3
+drop _merge 
+save `procdata'cons_temp20`x'.dta,replace
+}
+}
+else{
+*Convert PSID consumption files to stata format
+cd raw_data
+do CON0`x'.do
+ren CON0`x'_ID fam_ID
+gen year=200`x'
+*join with income
+cd ..
+joinby fam_ID year using `procdata'income_panel2.dta, unmatched(both)
+drop if _merge!=3
+drop _merge 
+save `procdata'cons_temp200`x'.dta,replace
+
+}
+}
+
+
+cd proc_data
+*Create consumption variables for each year
+*note that some files contain more variables
+*1999
+use cons_temp1999.dta, clear
+gen food_cons=FOOD99
+gen rent_cons=RENT99
+gen util_cons=UTIL99
+gen tran_cons=TRAN99
+gen educ_cons=ED99
+gen kids_cons=CHILD99
+gen heal_cons=HEALTH99
+keep food_cons rent_cons util_cons tran_cons educ_cons kids_cons heal_cons hid year
+save cons1999.dta, replace 
+*2001 and 2003
+forval x=2001(2)2003{
+local i=`x'-2000
+use cons_temp200`i'.dta, clear
+gen food_cons=FOOD0`i'
+gen rent_cons=RENT0`i'
+gen util_cons=UTIL0`i'
+gen tran_cons=TRAN0`i'
+gen educ_cons=ED0`i'
+gen kids_cons=CHILD0`i'
+gen heal_cons=HEALTH0`i'
+keep food_cons rent_cons util_cons tran_cons educ_cons kids_cons heal_cons hid year
+save cons`x'.dta, replace
+}
+*2005,2007 and 2009
+forval x=2005(2)2009{
+local i=`x'-2000
+use cons_temp200`i'.dta, clear
+gen food_cons=FOOD0`i'
+gen rent_cons=RENT0`i'
+gen util_cons=UTIL0`i'
+gen tran_cons=TRAN0`i'
+gen educ_cons=ED0`i'
+gen kids_cons=CHILD0`i'
+gen heal_cons=HEALTH0`i'
+gen other_cons=TELINT0`i'+CLOTH0`i'+TRIPS0`i'+OTHREC0`i'
+keep food_cons rent_cons util_cons tran_cons educ_cons kids_cons heal_cons hid year other_cons
+save cons`x'.dta, replace
+}
+*2011
+use cons_temp2011.dta, clear
+gen food_cons=FOOD11
+gen rent_cons=RENT11
+gen util_cons=UTIL11
+gen tran_cons=TRAN11
+gen educ_cons=ED11
+gen kids_cons=CHILD11
+gen heal_cons=HEALTH11
+gen other_cons=TELINT11+CLOTH11+TRIPS11+OTHREC11
+keep food_cons rent_cons util_cons tran_cons educ_cons kids_cons heal_cons hid year other_cons
+save cons2011.dta, replace 
+
+

42/replication_package/data_replication/psid/code/merge_panel.do

@@ -0,0 +1,159 @@
+
+
+clear all
+set more off
+set maxvar 10000
+
+*Set path
+***
+
+*cd ---- specify path to \data_replication\psid\
+
+
+cd raw_data
+
+*Import data for individuals
+do IND2011ER.do
+
+*Generate unique id
+*Last three digits are the person number
+*ER30001-1968 Family id
+*ER30002-Person number
+gen hid=ER30001*1000+ER30002
+
+cd ..
+cd proc_data
+save temp_master.dta,replace
+
+****************************************
+*Join with data after taxsim correction 
+*in order to assign the unique id to the
+*household head
+****************************************
+***
+* IMPORTANT !!! paste files from "our_proc" subfolder into the "proc_data" folder if you didn't manage to get taxsim9 to run on your computer 
+***
+
+*1999
+use temp_master.dta,clear
+drop if ER33503!=10    //keep only heads in that year
+drop if ER33502!=1     //keep only if head is still within family unit
+rename ER33501 fam_ID_year
+joinby fam_ID_year using temp1999.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33504  //drop obs. that are inconsistent about the age of head
+drop ER*
+save p1999.dta, replace
+*2001
+use temp_master.dta,clear
+drop if ER33603!=10    //keep only heads in that year
+drop if ER33602!=1     //keep only if head is still within family unit
+rename ER33601 fam_ID_year
+joinby fam_ID_year using temp2001.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33604  //drop obs. that are inconsistent about the age of head
+drop if ER33608!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save p2001.dta, replace
+*2003
+use temp_master.dta,clear
+drop if ER33703!=10    //keep only heads in that year
+drop if ER33702!=1     //keep only if head is still within family unit
+rename ER33701 fam_ID_year
+joinby fam_ID_year using temp2003.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33704  //drop obs. that are inconsistent about the age of head
+drop if ER33708!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save p2003.dta, replace
+*2005
+use temp_master.dta,clear
+drop if ER33803!=10    //keep only heads in that year
+drop if ER33802!=1     //keep only if head is still within family unit
+rename ER33801 fam_ID_year
+joinby fam_ID_year using temp2005.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33804  //drop obs. that are inconsistent about the age of head
+drop if ER33808!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save p2005.dta, replace
+*2007
+use temp_master.dta,clear
+drop if ER33903!=10    //keep only heads in that year
+drop if ER33902!=1     //keep only if head is still within family unit
+rename ER33901 fam_ID_year
+joinby fam_ID_year using temp2007.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33904  //drop obs. that are inconsistent about the age of head
+drop if ER33908!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save p2007.dta, replace
+*2009
+use temp_master.dta,clear
+drop if ER34003!=10    //keep only heads in that year
+drop if ER34002!=1     //keep only if head is still within family unit
+rename ER34001 fam_ID_year
+joinby fam_ID_year using temp2009.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER34004  //drop obs. that are inconsistent about the age of head
+drop if ER34008!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save p2009.dta, replace
+*2011
+use temp_master.dta,clear
+drop if ER34103!=10    //keep only heads in that year
+drop if ER34102!=1     //keep only if head is still within family unit
+rename ER34101 fam_ID_year
+joinby fam_ID_year using temp2011.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER34104  //drop obs. that are inconsistent about the age of head
+drop if ER34108!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save p2011.dta, replace
+
+
+****************************************
+*Create panel
+****************************************
+*Adjust the names of the variables
+forval x=1999(2)2011{
+use p`x'.dta, clear
+ren aftertax_income_defl_equiv inc`x'
+ren age_head age`x'
+ren ed_head edu`x'
+ren marital_status_head mstat`x'
+ren fam_ID_year fam_ID`x'
+ren size_fam size_fam`x'
+drop fam_ID_1968 year_survey  //drop variables that are not useful
+save pk`x'.dta,replace
+}
+
+*Join datasets to form a panel
+use pk1999.dta, clear
+forval x=2001(2)2011{
+joinby hid using pk`x'.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+local i=`x'-2
+di "`i'"
+gen b=age`x'-age`i'
+tab b  
+drop if b!=2 & b!=1 & b!=3   // drop people that are inconsistent about their age (1/2/3 are consistent due to the differences in month of interview)
+drop b
+gen a=edu`x'-edu`i'
+tab a 
+drop if a<0     // drop people that are inconsistent about their education (to adjust for any errors, see 2009 family codebook release info)
+drop a
+}
+
+*Reshape the data for better use
+reshape long inc age edu mstat fam_ID size_fam, i(hid) j(year) 
+
+save for_reg.dta, replace

42/replication_package/data_replication/psid/code/merge_panel_2020.do

@@ -0,0 +1,207 @@
+****************************************
+*THIS CODE PREPARES THE PANEL FOR 
+*REGRESSIONS
+****************************************
+
+clear all
+set more off
+set maxvar 10000
+
+*Set path
+
+
+*cd ---- specify path to \data_replication\psid\
+
+cd raw_data
+
+*Import data for individuals
+do IND2017ER.do
+
+
+*Generate unique id
+*Last three digits are the person number
+*ER30001-1968 Family id
+*ER30002-Person number
+gen hid=ER30001*1000+ER30002
+
+
+cd ..
+cd proc_data
+save temp_masterX.dta,replace
+
+
+
+****************************************
+*Join with data after taxsim correction 
+*in order to assign the unique id to the
+*household head
+****************************************
+***
+* IMPORTANT !!! paste files from "our_proc" subfolder into the "proc_data" folder if you didn't manage to get taxsim9 to run on your computer 
+***
+
+*1999
+use temp_masterX.dta,clear
+drop if ER33503!=10    //keep only heads in that year
+drop if ER33502!=1     //keep only if head is still within family unit
+rename ER33501 fam_ID_year
+joinby fam_ID_year using tempX1999.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33504  //drop obs. that are inconsistent about the age of head
+drop ER*
+save pX1999.dta, replace
+*2001
+use temp_masterX.dta,clear
+drop if ER33603!=10    //keep only heads in that year
+drop if ER33602!=1     //keep only if head is still within family unit
+rename ER33601 fam_ID_year
+joinby fam_ID_year using tempX2001.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33604  //drop obs. that are inconsistent about the age of head
+drop if ER33608!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2001.dta, replace
+*2003
+use temp_masterX.dta,clear
+drop if ER33703!=10    //keep only heads in that year
+drop if ER33702!=1     //keep only if head is still within family unit
+rename ER33701 fam_ID_year
+joinby fam_ID_year using tempX2003.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33704  //drop obs. that are inconsistent about the age of head
+drop if ER33708!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2003.dta, replace
+*2005
+use temp_masterX.dta,clear
+drop if ER33803!=10    //keep only heads in that year
+drop if ER33802!=1     //keep only if head is still within family unit
+rename ER33801 fam_ID_year
+joinby fam_ID_year using tempX2005.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33804  //drop obs. that are inconsistent about the age of head
+drop if ER33808!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2005.dta, replace
+*2007
+use temp_masterX.dta,clear
+drop if ER33903!=10    //keep only heads in that year
+drop if ER33902!=1     //keep only if head is still within family unit
+rename ER33901 fam_ID_year
+joinby fam_ID_year using tempX2007.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER33904  //drop obs. that are inconsistent about the age of head
+drop if ER33908!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2007.dta, replace
+*2009
+use temp_masterX.dta,clear
+drop if ER34003!=10    //keep only heads in that year
+drop if ER34002!=1     //keep only if head is still within family unit
+rename ER34001 fam_ID_year
+joinby fam_ID_year using tempX2009.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER34004  //drop obs. that are inconsistent about the age of head
+drop if ER34008!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2009.dta, replace
+*2011
+use temp_masterX.dta,clear
+drop if ER34103!=10    //keep only heads in that year
+drop if ER34102!=1     //keep only if head is still within family unit
+rename ER34101 fam_ID_year
+joinby fam_ID_year using tempX2011.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER34104  //drop obs. that are inconsistent about the age of head
+drop if ER34108!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2011.dta, replace
+
+*2013
+use temp_masterX.dta,clear
+drop if ER34203!=10    //keep only heads in that year
+drop if ER34202!=1     //keep only if head is still within family unit
+rename ER34201 fam_ID_year
+joinby fam_ID_year using tempX2013.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER34204  //drop obs. that are inconsistent about the age of head
+drop if ER34208!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2013.dta, replace
+
+
+*2015
+use temp_masterX.dta,clear
+drop if ER34303!=10    //keep only heads in that year
+drop if ER34302!=1     //keep only if head is still within family unit
+rename ER34301 fam_ID_year
+joinby fam_ID_year using tempX2015.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER34305  //drop obs. that are inconsistent about the age of head
+drop if ER34309!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2015.dta, replace
+
+
+*2017
+use temp_masterX.dta,clear
+drop if ER34503!=10    //keep only heads in that year
+drop if ER34502!=1     //keep only if head is still within family unit
+rename ER34501 fam_ID_year
+joinby fam_ID_year using tempX2017.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+drop if age_head!=ER34504  //drop obs. that are inconsistent about the age of head
+drop if ER34508!=0        //drop if head has moved in/out (splitoffs)
+drop ER*
+save pX2017.dta, replace
+
+
+
+****************************************
+*Create panel
+****************************************
+*Adjust the names of the variables
+forval x=1999(2)2017{
+use pX`x'.dta, clear
+ren aftertax_income_defl_equiv inc`x'
+ren age_head age`x'
+ren ed_head edu`x'
+ren marital_status_head mstat`x'
+ren fam_ID_year fam_ID`x'
+ren size_fam size_fam`x'
+drop fam_ID_1968 year_survey year mstat //drop variables that are not useful
+save pkX`x'.dta,replace
+}
+
+*Join datasets to form a panel
+use pkX1999.dta, clear
+forval x=2001(2)2017{
+joinby hid using pkX`x'.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+local i=`x'-2
+di "`i'"
+gen b=age`x'-age`i'
+tab b  
+drop if b!=2 & b!=1 & b!=3   // drop people that are inconsistent about their age (1/2/3 are consistent due to the differences in month of interview)
+drop b
+gen a=edu`x'-edu`i'
+tab a 
+drop if a<0     // drop people that are inconsistent about their education (to adjust for any errors, see 2009 family codebook release info)
+drop a
+}
+
+*Reshape the data for better use
+reshape long inc age edu mstat fam_ID size_fam, i(hid) j(year) 
+
+save for_regX.dta, replace

42/replication_package/data_replication/psid/code/tab1_refi_liquidity.do

@@ -0,0 +1,241 @@
+clear all
+set more off
+set maxvar 10000
+set mem 500m
+
+*Set path
+***
+
+
+*cd ---- specify path to \data_replication\psid\
+
+local procdata  "./proc_data/"
+local rawdata  "./raw_data/"
+
+cd proc_data
+
+use for_reg.dta, clear
+
+
+*Prepare the panel
+*drop if year>2007
+drop if age<25 & year==1999
+drop if age>85 & year==2011
+bys hid: gen nyear=[_N]
+keep if nyear==7
+
+keep fam_ID year hid inc equiv age
+save income_panel1.dta, replace
+
+*Define the CPI annual average for each relevant year. 
+*These are defined for the relevant year of the survey (e.g cpi1999 is for 1998)
+local cpi1999 = 163.01
+local cpi2001 = 172.19
+local cpi2003 = 179.87
+local cpi2005 = 188.91
+local cpi2007 = 201.56 
+local cpi2009 = 215.25
+local cpi2011 = 218.09
+
+cd ..
+*###############################################################################
+*Prepare the refinancing data for each year
+*###############################################################################
+forval x=1999(2)2003{
+clear
+*###############################################################################
+*Prepare the wealth data
+*###############################################################################
+
+*Convert family files to stata format
+cd raw_data
+do FAM`x'ER.do
+
+*Adjust wealth components
+do wealth_comp`x'.do
+gen year=`x'
+
+drop ER*
+
+cd ..
+joinby fam_ID year using `procdata'income_panel1.dta, unmatched(both)
+drop if _merge!=3
+drop _merge 
+
+save `procdata'ref_temp_`x'.dta,replace
+
+}
+
+
+cd proc_data
+
+*###############################################################################
+*Generate Panel and calculate Share of refinancing
+*###############################################################################
+
+use ref_temp_1999.dta, clear
+forval x=2001(2)2003{
+append using ref_temp_`x'.dta
+}
+
+sort hid year
+xtset hid year
+
+*sum up both mortgages
+gen tot_mtg_debt=m1_principal+m2_principal
+
+*generate difference in mortgage balances between survey waves
+gen past_mtg_balance=L2.tot_mtg_debt
+gen diff_mtg_balance=tot_mtg_debt-past_mtg_balance
+replace diff_mtg_balance=. if past_mtg_balance==0    //make sure to account for people that had no mtg and got one (went from 0 to positive mtg balance)
+
+*generate refinancing dummies
+*1. any increase in mtg balance
+gen refi_status1=1 if diff_mtg_balance>0 & diff_mtg_balance!=.
+replace refi_status1=0 if refi_status1!=1
+*2. 5% increase in mtg balance (results are the same in terms of nr of observations between option 1. and option 2.)
+gen pct_increase_mtg_balance=diff_mtg_balance/past_mtg_balance
+gen refi_status2=1 if diff_mtg_balance>=.05 & diff_mtg_balance!=.
+replace refi_status2=0 if refi_status2!=1
+
+****************************************************************************************************************
+*compute moments
+****************************************************************************************************************
+*create moments to be reported
+gen liq_assets=(stocks+checking_savings-other_debt)/equiv
+gen income = inc   //already equivalized
+gen liq_assets_to_inc = liq_assets/income
+gen h_net_worth_share = (house_val - m1_principal-m2_principal)/wealth
+gen wlth = wealth/equiv
+gen ltv_m=tot_mtg_debt/house_val
+gen h_value=house_val/equiv
+*gen age_head=age
+gen mtg_payments_total = (mtg_paym1+mtg_paym2)/equiv
+gen pti = mtg_payments_total/inc
+*save file
+save temp_refi_data.dta, replace
+
+
+*^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+*2001
+*^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+use temp_refi_data, clear
+keep if year==2001 | year==1999
+*move refi status one step behind
+*gen refit=f2.refi_status2
+gen refit1=f2.refi_status2
+gen refit2=f2.turnover1
+gen refit=1 if refit1==1 & refit2!=1
+replace refit=0 if refit!=1
+*keep only orginal year
+keep if year==1999
+*winsorize data
+winsor2 liq_assets income liq_assets_to_inc h_net_worth_share wlth ltv_m h_value age_head pti, replace cuts(1 99)
+
+
+***
+*Moments
+***
+********************************************************************************************************************************************
+*NOTE that in the construction of moments below we: 
+*1) adjust to 2016 values, where we use the CPI values based on the series CPALTT01USA661S from https://fred.stlouisfed.org/series/CPALTT01USA661S  
+*2) round up dollar values to have more readable table entries (hundreds, thousands, etc.)
+
+
+preserve
+collapse (mean) liq_assets if ownership==1 & refit==1 & refit2!=1
+gen res= liq_assets  * 101.26/70.28   //1999 to 2016 conversion
+replace res = round(res, 100)
+gen title="Mean Liquid Assets (extract)"
+save moment1.dta, replace
+restore
+
+preserve
+collapse (mean) liq_assets if ownership==1 & refit==0 & refit2!=1
+gen res= liq_assets * 101.26/70.28   //1999 to 2016 conversion
+replace res = round(res, 100)
+gen title="Mean Liquid Assets (do not extract)"
+save moment2.dta, replace
+restore
+
+preserve
+collapse (median) liq_assets if ownership==1 & refit==1 & refit2!=1
+gen res= liq_assets  * 101.26/70.28   //1999 to 2016 conversion
+replace res = round(res, 100)
+gen title="Median Liquid Assets (extract)"
+save moment3.dta, replace
+restore
+
+preserve
+collapse (median) liq_assets if ownership==1 & refit==0 & refit2!=1
+gen res= liq_assets * 101.26/70.28   //1999 to 2016 conversion
+replace res = round(res, 100)
+gen title="Median Liquid Assets (do not extract)"
+save moment4.dta, replace
+restore
+
+preserve
+gen mlaw = liq_assets/wlth
+winsor2 mlaw, replace cuts(1 99)
+collapse (mean) mlaw if ownership==1 & refit==1 & refit2!=1
+gen res = mlaw 
+replace res = round(res, 0.01)+0.01
+gen title="Mean Liquid Assets to Wealth Ratio (extract)"
+save moment5.dta, replace
+restore
+
+
+preserve
+gen mlaw = liq_assets/wlth
+winsor2 mlaw, replace cuts(1 99)
+collapse (mean) mlaw if ownership==1 & refit==0 & refit2!=1
+gen res = mlaw 
+replace res = round(res, 0.01)+0.01
+gen title="Mean Liquid Assets to Wealth Ratio (do not extract)"
+save moment6.dta, replace
+restore
+
+preserve
+gen mlaw = liq_assets/wlth
+collapse (median) mlaw if ownership==1 & refit==1 & refit2!=1
+gen res = mlaw 
+replace res = round(res, 0.01)
+gen title="Median Liquid Assets to Wealth Ratio (extract)"
+save moment7.dta, replace
+restore
+
+
+preserve
+gen mlaw = liq_assets/wlth
+collapse (median) mlaw if ownership==1 & refit==0 & refit2!=1
+gen res = mlaw 
+replace res = round(res, 0.01)
+gen title="Median Liquid Assets to Wealth Ratio (do not extract)"
+save moment8.dta, replace
+restore
+
+
+
+
+*+++++++++++++++++++++++++++++++++++++
+forval x=1(1)8{
+use moment`x'.dta, clear
+keep res title
+duplicates drop
+save moment`x'.dta, replace
+}
+
+use moment1.dta, clear
+forval x=2(1)8{
+append using moment`x'.dta
+}
+
+order title res
+
+cd ..
+
+cd output
+
+outsheet using tab1_refi_liquidity.csv, replace c
+
+

42/replication_package/data_replication/psid/code/tab1_refi_moments.do

@@ -0,0 +1,183 @@
+
+clear all
+set more off
+set maxvar 10000
+set mem 500m
+
+*Set path
+***
+
+*cd ---- specify path to \data_replication\psid\
+
+local procdata  "./proc_data/"
+local rawdata  "./raw_data/"
+
+cd proc_data
+
+use for_reg.dta, clear
+
+
+*Prepare the panel
+*drop if year>2007
+drop if age<25 & year==1999
+drop if age>85 & year==2011
+bys hid: gen nyear=[_N]
+keep if nyear==7
+
+keep fam_ID year hid inc equiv age
+save income_panel1.dta, replace
+
+cd ..
+
+*###############################################################################
+*Prepare the refinancing data for each year
+*###############################################################################
+forval x=1999(2)2003{
+clear
+*###############################################################################
+*Prepare the wealth data
+*###############################################################################
+
+*Convert family files to stata format
+cd raw_data
+do FAM`x'ER.do
+
+*Adjust wealth components
+do wealth_comp`x'.do
+gen year=`x'
+drop ER*
+
+cd ..
+joinby fam_ID year using `procdata'income_panel1.dta, unmatched(both)
+drop if _merge!=3
+drop _merge 
+
+save `procdata'ref_temp_`x'.dta,replace
+
+}
+
+cd proc_data
+
+*###############################################################################
+*Generate Panel and calculate Share of refinancing
+*###############################################################################
+
+use ref_temp_1999.dta, clear
+forval x=2001(2)2003{
+append using ref_temp_`x'.dta
+}
+
+sort hid year
+xtset hid year
+
+*sum up both mortgages
+gen tot_mtg_debt=m1_principal+m2_principal
+
+*generate difference in mortgage balances between survey waves
+gen past_mtg_balance=L2.tot_mtg_debt
+gen diff_mtg_balance=tot_mtg_debt-past_mtg_balance
+replace diff_mtg_balance=. if past_mtg_balance==0    //make sure to account for people that had no mtg and got one (went from 0 to positive mtg balance)
+
+*generate refinancing dummies
+*1. any increase in mtg balance
+gen refi_status1=1 if diff_mtg_balance>0 & diff_mtg_balance!=.
+replace refi_status1=0 if refi_status1!=1
+*2. 5% increase in mtg balance (results are the same in terms of nr of observations between option 1. and option 2.)
+gen pct_increase_mtg_balance=diff_mtg_balance/past_mtg_balance
+gen refi_status2=1 if diff_mtg_balance>=.05 & diff_mtg_balance!=.
+replace refi_status2=0 if refi_status2!=1
+
+****************************************************************************************************************
+*compute moments
+****************************************************************************************************************
+*create moments to be reported
+gen liq_assets=(stocks+checking_savings-other_debt)/equiv
+gen income = inc   //already equivalized
+gen liq_assets_to_inc = liq_assets/income
+gen h_net_worth_share = (house_val - m1_principal-m2_principal)/wealth
+gen wlth = wealth/equiv
+gen ltv_m=tot_mtg_debt/house_val
+gen h_value=house_val/equiv
+*gen age_head=age
+gen mtg_payments_total = (mtg_paym1+mtg_paym2)/equiv
+gen pti = mtg_payments_total/inc
+*save file
+save temp_refi_data.dta, replace
+
+
+use temp_refi_data, clear
+
+
+
+*************************************************************************
+* OTHER REFI MOMENTS
+*************************************************************************
+*^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+*2001
+*^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+use temp_refi_data, clear
+keep if year==2001 | year==1999
+*move refi status one step behind
+gen refit1=f2.refi_status2
+gen refit2=f2.turnover1
+gen refit=1 if refit1==1 & refit2!=1
+replace refit=0 if refit!=1
+*move back increase in mtg balance
+gen mtg_delta=f2.pct_increase_mtg_balance
+gen mtg_delta1=f2.diff_mtg_balance/house_val
+*keep only orginal year
+keep if year==1999
+*winsorize data
+winsor2 liq_assets income liq_assets_to_inc h_net_worth_share wlth ltv_m h_value age_head pti mtg_delta mtg_delta1, replace cuts(1 99)
+
+
+preserve
+collapse (mean) refit 
+gen res=round(round(refit,0.01)/2,0.01)
+gen title="fraction of people refinance"
+save moment1.dta, replace
+restore
+
+preserve
+collapse (mean) refit 
+gen res= 1 -round(round(refit,0.01)/2,0.01)
+gen title="fraction of people that do not refinance"
+save moment2.dta, replace
+restore
+
+preserve
+collapse (median) mtg_delta if refit==1 
+gen res=round(mtg_delta, 0.01)
+gen title="median % increase in mortgage balance conditional on refinancing (for those that have a positive balance)"
+save moment3.dta, replace
+restore
+
+
+preserve
+collapse (median) mtg_delta1 if refit==1 
+gen res=round(mtg_delta1, 0.01)
+gen title="median % change in mortgage debt (relative to the value of the home) conditional on refinancing"
+save moment4.dta, replace
+restore
+
+
+forval x=1(1)4{
+use moment`x'.dta, clear
+keep res title
+duplicates drop
+save moment`x'.dta, replace
+}
+
+use moment1.dta, clear
+forval x=2(1)4{
+append using moment`x'.dta
+}
+
+order title res
+
+cd ..
+
+cd output
+
+outsheet using tab1_refi_moments.csv, replace c
+

42/replication_package/data_replication/psid/code/tab2_income.do

@@ -0,0 +1,194 @@
+clear all
+set more off
+set maxvar 10000
+set mem 500m
+
+*Set path
+***
+
+
+*cd ---- specify path to \data_replication\psid\
+
+local procdata  "./proc_data/"
+local rawdata  "./raw_data/"
+
+cd proc_data
+
+*Create consumption panel
+*!!!!!!!!!!!!!!!!!!!!! consumption files are generated by the do-file 'consumption.do'
+use cons1999.dta, clear
+forval x=2001(2)2011{
+append using cons`x'.dta
+}
+
+sort hid year
+xtset hid year
+
+save health_costs_for_income.dta, replace
+
+
+
+*import income data
+use for_reg.dta, clear
+*merge with health costs
+joinby hid year using health_costs_for_income.dta, unmatched(both)
+tab _merge
+drop if _merge!=3
+
+*Prepare for regressions
+*take out health costs
+*first deflate costs
+*Define the CPI annual average for each relevant year. 
+*These are defined for the relevant year of the survey (e.g cpi1999 is for 1998)
+local cpi1999 = 163.01
+local cpi2001 = 172.19
+local cpi2003 = 179.87
+local cpi2005 = 188.91
+local cpi2007 = 201.56 
+local cpi2009 = 215.25
+local cpi2011 = 218.09
+gen heal_cons_deflated=heal_cons
+forval x=1999(2)2011{
+replace heal_cons_deflated=heal_cons_deflated*(`cpi1999' / `cpi`x'') if year==`x'
+}
+*take out equivalized! costs
+*replace inc=inc-heal_cons_deflated/equiv
+
+drop if inc<0
+
+
+drop if year>2007
+drop if age<25 & year==1999
+drop if age>85 & year==2007
+bys hid: gen nyear=[_N]
+keep if nyear==5
+
+*Generate the age polynomial
+gen a2=(age^2)/10
+
+*Generate year dummies
+tab year, gen(time_dummy)
+
+*Convert income into logs and keep only the relevant variables
+replace inc=log(inc)
+keep inc time_dummy* age a2 hid year
+
+*Create retirement dummy
+gen retired=1 if age>=65
+replace retired=0 if retired!=1
+
+*Find fit before retirement
+reg inc age a2 time_dummy* retired
+
+
+
+************************************************
+************************************************
+*Report the coefficients of the age polynomial
+estimates table, keep(age a2 retired) b
+************************************************
+************************************************
+
+predict inc_hat 
+
+
+*Compute the deviation after permanent differences have been removed
+gen x_tilda=inc   //use just log income
+
+
+
+*Clean all observations that are above or below a threshold !!!!!!!!!!!!
+*Make years consecutive
+replace year=1 if year==1999
+replace year=2 if year==2001
+replace year=3 if year==2003
+replace year=4 if year==2005
+replace year=5 if year==2007
+
+xtset hid year
+
+*Compute mean by household (across time)
+bysort hid: egen mean_hid_inc=mean(inc)
+*Generate deviation from mean
+gen dif_mean=inc-mean_hid_inc
+*Find the top and bottom 1 percent
+sum dif_mean, d
+gen p1=r(p1)
+gen p99=r(p99)
+*Remove observations that are in the tails
+replace x_tilda=. if dif_mean<=p1
+replace x_tilda=. if dif_mean>=p99
+
+*################################################
+*FIND AUTOCOVARIANCES
+*################################################
+
+
+
+
+
+
+preserve
+
+*Generate lag structure to compute the autocovariances
+gen lag1_x_tilda=L.x_tilda
+gen lag2_x_tilda=L2.x_tilda
+gen lag3_x_tilda=L3.x_tilda
+gen lag4_x_tilda=L4.x_tilda
+
+*Compute autocovariances
+*1)Variance
+correlate x_tilda x_tilda, covariance
+gen v0=r(Var_1)
+*2)Lags
+forval x=1(1)4{
+correlate x_tilda lag`x'_x_tilda, covariance
+g float v`x'=r(cov_12)
+}
+keep v*
+duplicates drop
+
+************************************************
+************************************************
+*Export results for autocovariances
+save autocov_final_new_NO_health_ALL_v3.dta, replace
+************************************************
+************************************************
+
+restore
+
+gen lag1_x_tilda=L.x_tilda
+keep x_tilda lag1_x_tilda
+
+gen dif_x_tilda=x_tilda-lag1_x_tilda
+
+egen SD = sd(dif_x_tilda)
+
+egen KURT = kurt(dif_x_tilda)
+
+egen SKEW = skew(dif_x_tilda)
+
+keep SD KURT SKEW
+
+
+duplicates drop 
+
+merge using autocov_final_new_NO_health_ALL_v3.dta
+
+drop _merge
+
+*keep only the relevant moments and order them according for table 2
+keep SD v0 v1 v2
+replace SD = round(SD, 0.01)
+replace v0 = round(v0, 0.01)
+replace v1 = round(v1, 0.01)
+replace v2 = round(v2, 0.01)
+
+order v0 v1 v2 SD
+
+cd ..
+
+cd output
+
+outsheet using tab2_income.csv, c replace
+

42/replication_package/data_replication/psid/code/tabA3_refi.do

@@ -0,0 +1,192 @@
+clear all
+set more off
+set maxvar 10000
+set mem 500m
+
+*Set path
+***
+
+*cd ---- specify path to \data_replication\psid\
+
+local procdata  "./proc_data/"
+local rawdata  "./raw_data/"
+
+cd proc_data
+
+*load income data
+forval x=2015(2)2017{
+use pX`x'.dta, clear
+ren aftertax_income_defl_equiv inc`x'
+ren age_head age`x'
+ren ed_head edu`x'
+ren marital_status_head mstat`x'
+ren fam_ID_year fam_ID`x'
+ren size_fam size_fam`x'
+drop fam_ID_1968 year_survey year mstat //drop variables that are not useful
+save pkX`x'.dta,replace
+}
+
+*Join datasets to form a panel
+use pkX2015.dta, clear
+forval x=2017(2)2017{
+joinby hid using pkX`x'.dta, unmatched(both)
+drop if _merge!=3
+drop _merge
+local i=`x'-2
+di "`i'"
+gen b=age`x'-age`i'
+tab b  
+drop if b!=2 & b!=1 & b!=3   // drop people that are inconsistent about their age (1/2/3 are consistent due to the differences in month of interview)
+drop b
+gen a=edu`x'-edu`i'
+tab a 
+drop if a<0     // drop people that are inconsistent about their education (to adjust for any errors, see 2009 family codebook release info)
+drop a
+}
+
+*Reshape the data for better use
+reshape long inc age edu mstat fam_ID size_fam, i(hid) j(year) 
+
+
+
+drop if inc<0
+
+
+drop if year<2015
+drop if year>2017
+drop if age<25
+drop if age>85
+
+keep fam_ID year hid inc equiv age
+save income_panel1_temp.dta, replace
+
+cd ..
+*###############################################################################
+*Prepare the refinancing data for each year
+*###############################################################################
+forval x=2015(2)2017{
+clear
+*###############################################################################
+*Prepare the wealth data
+*###############################################################################
+
+*Convert family files to stata format
+cd raw_data
+do FAM`x'ER.do
+
+*Adjust wealth components
+do wealth_comp`x'.do
+gen year=`x'
+
+drop ER*
+
+cd ..
+joinby fam_ID year using `procdata'income_panel1_temp.dta, unmatched(both)
+drop if _merge!=3
+drop _merge 
+
+save `procdata'ref_temp_`x'.dta,replace
+
+}
+
+cd proc_data
+
+*###############################################################################
+*Generate Panel and calculate Share of refinancing
+*###############################################################################
+
+use ref_temp_2015.dta, clear
+forval x=2017(2)2017{
+append using ref_temp_`x'.dta
+}
+
+sort hid year
+xtset hid year
+
+*sum up both mortgages
+gen tot_mtg_debt=m1_principal+m2_principal
+
+*generate difference in mortgage balances between survey waves
+gen past_mtg_balance=L2.tot_mtg_debt
+gen diff_mtg_balance=tot_mtg_debt-past_mtg_balance
+replace diff_mtg_balance=. if past_mtg_balance==0    //make sure to account for people that had no mtg and got one (went from 0 to positive mtg balance)
+
+*generate refinancing dummies
+*1. any increase in mtg balance
+gen refi_status1=1 if diff_mtg_balance>0 & diff_mtg_balance!=.
+replace refi_status1=0 if refi_status1!=1
+*2. 5% increase in mtg balance (results are the same in terms of nr of observations between option 1. and option 2.)
+gen pct_increase_mtg_balance=diff_mtg_balance/past_mtg_balance
+gen refi_status2=1 if diff_mtg_balance>=.05 & diff_mtg_balance!=.
+replace refi_status2=0 if refi_status2!=1
+
+****************************************************************************************************************
+*compute moments
+****************************************************************************************************************
+*create moments to be reported
+gen liq_assets=(stocks+checking_savings-other_debt)/equiv
+gen income = inc   //already equivalized
+gen liq_assets_to_inc = liq_assets/income
+gen h_net_worth_share = (house_val - m1_principal-m2_principal)/wealth
+gen wlth = wealth/equiv
+gen ltv_m=tot_mtg_debt/house_val
+gen h_value=house_val/equiv
+*gen age_head=age
+gen mtg_payments_total = (mtg_paym1+mtg_paym2)/equiv
+gen pti = mtg_payments_total/inc
+*save file
+save temp_refi_data.dta, replace
+
+
+
+
+
+*************************************************************************
+* OTHER REFI MOMENTS
+*************************************************************************
+*^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+*2017
+*^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
+use temp_refi_data, clear
+keep if year==2015 | year==2017
+*move refi status one step behind
+gen refit1=f2.refi_status2
+gen refit2=f2.turnover1
+gen refit=1 if refit1==1 & refit2!=1
+replace refit=0 if refit!=1
+*move back increase in mtg balance
+gen mtg_delta=f2.pct_increase_mtg_balance
+gen mtg_delta1=f2.diff_mtg_balance/house_val
+*keep only orginal year
+keep if year==2015
+*winsorize data
+winsor2 liq_assets income liq_assets_to_inc h_net_worth_share wlth ltv_m h_value age_head pti mtg_delta mtg_delta1, replace cuts(1 99)
+
+
+preserve
+collapse (mean) refit 
+gen res=round(refit, 0.01)/2
+replace res=round(res, 0.01)
+gen title="fraction of people refinance"
+save moment1.dta, replace
+restore
+
+
+forval x=1(1)1{
+use moment`x'.dta, clear
+keep res title
+duplicates drop
+save moment`x'.dta, replace
+}
+
+use moment1.dta, clear
+
+order title res
+
+cd ..
+
+cd output
+
+outsheet using tabA3_refi.csv, replace c
+
+

42/replication_package/data_replication/psid/code/taxsim.do

@@ -0,0 +1,191 @@
+clear all
+set more off
+set maxvar 10000
+
+*Set path
+***
+
+*cd ---- specify path to \data_replication\psid\
+local procdata  "./proc_data"
+
+*Define the CPI annual average for each relevant year. 
+*These are defined for the relevant year of the survey (e.g cpi1999 is for 1998)
+local cpi1999 = 163.01
+local cpi2001 = 172.19
+local cpi2003 = 179.87
+local cpi2005 = 188.91
+local cpi2007 = 201.56 
+local cpi2009 = 215.25
+local cpi2011 = 218.09
+
+*Run TAXSIM and compute disposable income
+forval x=1999(2)2011{
+	di "YEAR `x'"
+	
+	cd raw_data
+	
+	*Recode the PSID data
+	do FAM`x'ER.do
+	
+	*Construct the variables of interest (income components)
+	do save_data_`x'.do
+	
+		
+	********************
+	*Proceed to TAXSIM
+	********************
+	*Generate tax year (previous year from the survey year)
+	g year = year_survey - 1		
+	
+	*Convert PSID state codes to TAXSIM state format
+	g state = 0		
+	replace state = 1  if state_residence == 01 /* Alabama */
+	replace state = 2  if state_residence == 50 /* Alaska */
+	replace state = 3  if state_residence == 02 /* Arizona */
+	replace state = 4  if state_residence == 03 /* Arkansas */
+	replace state = 5  if state_residence == 04 /* California */
+	replace state = 6  if state_residence == 05 /* Colorado */
+	replace state = 7  if state_residence == 06 /* Connecticut */
+	replace state = 8  if state_residence == 07 /* Delaware */
+	replace state = 9  if state_residence == 08 /* DC */
+	replace state = 10 if state_residence == 09 /* Florida */
+	replace state = 11 if state_residence == 10 /* Georgia */
+	replace state = 12 if state_residence == 51 /* Hawaii */
+	replace state = 13 if state_residence == 11 /* Idaho */
+	replace state = 14 if state_residence == 12 /* Illinois */
+	replace state = 15 if state_residence == 13 /* Indiana */
+	replace state = 16 if state_residence == 14 /* Iowa */
+	replace state = 17 if state_residence == 15 /* Kansas */
+	replace state = 18 if state_residence == 16 /* Kentucky */
+	replace state = 19 if state_residence == 17 /* Louisiana */
+	replace state = 20 if state_residence == 18 /* Maine */
+	replace state = 21 if state_residence == 19 /* Maryland */
+	replace state = 22 if state_residence == 20 /* Massachusetts */
+	replace state = 23 if state_residence == 21 /* Michigan */
+	replace state = 24 if state_residence == 22 /* Minnesota */
+	replace state = 25 if state_residence == 23 /* Missippi */
+	replace state = 26 if state_residence == 24 /* Missouri */
+	replace state = 27 if state_residence == 25 /* Montana */
+	replace state = 28 if state_residence == 26 /* Nebraska */
+	replace state = 29 if state_residence == 27 /* Nevada */
+	replace state = 30 if state_residence == 28 /* NewHampshire */
+	replace state = 31 if state_residence == 29 /* NewJersey */
+	replace state = 32 if state_residence == 30 /* NewMexico */
+	replace state = 33 if state_residence == 31 /* NewYork */
+	replace state = 34 if state_residence == 32 /* NorthCarolina */
+	replace state = 35 if state_residence == 33 /* NorthDakota */
+	replace state = 36 if state_residence == 34 /* Ohio */
+	replace state = 37 if state_residence == 35 /* Oklahoma */
+	replace state = 38 if state_residence == 36 /* Oregon */
+	replace state = 39 if state_residence == 37 /* Pennsylvania */
+	replace state = 40 if state_residence == 38 /* RhodeIsland */
+	replace state = 41 if state_residence == 39 /* SouthCarolina */
+	replace state = 42 if state_residence == 40 /* SouthDakota */
+	replace state = 43 if state_residence == 41 /* Tennessee */
+	replace state = 44 if state_residence == 42 /* Texas */
+	replace state = 45 if state_residence == 43 /* Utah */
+	replace state = 46 if state_residence == 44 /* Vermont */
+	replace state = 47 if state_residence == 45 /* Virginia */
+	replace state = 48 if state_residence == 46 /* Washington */
+	replace state = 49 if state_residence == 47 /* WestVirginia */
+	replace state = 50 if state_residence == 48 /* Wisconsin */
+	replace state = 51 if state_residence == 49 /* Wyoming */
+	
+	*Marital status: 1 for single, 2 for joint, 3 for head of household.		
+	* Making single if never married, widowed, divorced, separated, or other.
+	g mstat = cond(marital_status_head != 1, 1, 2)
+	* Making head of household if unmarried with children.
+	replace mstat = 3 if mstat == 1 & children > 0
+			
+	*Number of dependents (kids) per tax form. 
+	g depx = children
+
+	*Labor income of primary and secondary taxpayers
+	*Includes:
+	*wages and salaries
+	*+any separate reports of bonuses 
+	*+overtime 
+	*+tips
+	*+commissions 
+	*+professional practice or trade
+	*+market gardening
+	*+additional job income
+	*+and miscellaneous labor income      
+	g pwages  = labor_inc_head + business_labor_income_head
+	g swages = (labor_inc_wife+business_labor_income_wife)*(mstat==2) 
+	*g swages = labor_inc_wife*(mstat==2) // only matters if married
+
+	*Gross social security benefits
+	*Taxsim will calculate the portion includable in adjusted gross income (AGI)
+	g gssi = socsec_income_hh //together wife and head
+			
+	*Other non-taxable transfer Income such as welfare, workers comp, 
+	*veterans benefits and child support that would affect eligibility for state
+	*property tax rebates but would not be taxable at the federal level
+	g transfers = vapension_inc_head + workerscomp_inc_head + tanf_inc_head + ///
+				  otherwelfare_inc_head + childsupport_inc_head + transf_rel_head + ///
+				  ssi_head+ ///
+				  (mstat==2)*(workerscomp_inc_wife +  tanf_inc_wife + otherwelfare_inc_wife + ///
+				  childsupport_inc_wife + transf_rel_wife + ssi_wife) 
+				  *(mstat==2)*(workerscomp_inc_wife +  tanf_inc_wife + otherwelfare_inc_wife + ///
+				  *childsupport_inc_wife + transf_rel_wife + ssi_wife) 
+
+				  
+	*Unemployment compensation benefits
+	*Taxsim will calculate the portion included in AGI
+	g ui = unemployment_inc_head + unemployment_inc_wife
+	*g ui = unemployment_inc_head + (mstat==2)*unemployment_inc_wife
+
+	*Number of dependents under age 17
+	*Cannot distinguish between children in PSID (asign all children who live in 
+	*Family Unit as dependent)
+	g depchild = children
+	
+	*IRA and annuities (benefits and contributions)
+	*g otherprop=pension_ben-pension_contrib
+	
+	*Annuities/IRAs head and wife (benefits)
+	g otherprop=annira_head+pension_wife+business_asset_income_head+business_asset_income_wife
+	
+	*Taxable retirement income
+	g pensions = nonva_retir_head+other_pen_head
+	
+	*Labor income less pension contributions
+	replace pwages = pwages - stat_pen_contrib_head
+	replace swages = swages - stat_pen_contrib_wife
+	
+
+	*Run taxsim
+	taxsim9, full replace
+	
+	di "TAXSIM FOR YEAR `x' OVER"
+
+	*Compute total income before tax
+	gen pretax_income = pwages + swages + transfers + gssi + ui + otherprop + pensions
+	 
+	
+	*Compute disposable income
+	*Deflate by the CPI (base year 1998)
+	rename fiitax federalTax
+	rename siitax stateTax
+	gen aftertax_income_defl = (pretax_income - federalTax - stateTax)*(`cpi1999' / `cpi`x'')
+	
+	*Drop HH with negative income (stemming from pension contributions that are too high relative to income or from business losses)
+	drop if aftertax_income_defl<0
+	
+	*Adjust using equivalence scales (OECD)
+	gen nr_adult = size_fam-depchild
+	gen equiv = 1.0 + 0.7*(nr_adult-1) + 0.5*depchild
+	gen aftertax_income_defl_equiv= aftertax_income_defl/equiv    
+	
+	*Drop all unnecessary variables
+	keep aftertax_income_defl_equiv age_head year_survey ed_head marital_status_head fam_ID_1968 fam_ID_year size_fam equiv state_residence
+	
+	
+	cd ..
+	
+	save "`procdata'/temp`x'.dta",replace
+	
+}
+
+

42/replication_package/data_replication/psid/code/taxsim9_ado_files/taxsim9.ado

@@ -0,0 +1,368 @@
+program define taxsim9
+version 9.10
+/*
+** by Jean Roth , [email protected]
+This program uses the NBER TAXSIM model to calculate US and state
+income tax liabilities. It calls an external program nc send 
+data (in ASCII) to the NBER server and obtain the calculated liabilities.
+
+net from http://www.nber.org/stata
+net describe taxsim9
+net install taxsim9
+
+*/
+display "begin taxsim9.ado on $S_DATE (version 9.10)"
+syntax [, Full Secondary Wages Interest Long Output(string) Debug X51 PLAN(integer 0) PLANVal(real 0) Replace local]
+if `"`replace'"' == `"replace"' {
+     display "TAXSIM results will be merged to original file"
+}
+** If state doesn't exist, add to original dataset for later merging.
+capture confirm variable state
+if _rc {
+     display "Variable state not found in dataset." 
+     display "Generating state = 0 to return federal taxes only."
+     generate state = 0
+}
+if `"`x51'"' == `"x51"' {
+     display "Setting state identifier to -1 for confidentiality"
+     display "Returning 51 records for every record received"
+     capture drop statet
+     generate statet = state 
+     replace state = -1 
+}
+*preserve 
+if `"`debug'"' != `"debug"' {
+     tempfile outfile infile ftp msg
+}
+else {
+     display "Saving input to FORTRAN TAXSIM as txpydata.raw "
+     local outfile txpydata.raw 
+     display "Saving output from FORTRAN TAXSIM as results.raw "
+     local infile results.raw    
+     capture erase txpydata.raw
+     capture erase results.raw
+}
+capture { rm `outfile' }
+capture { rm `infile'  }
+capture { rm ftp.txt   }
+capture ( rm msg.txt   }
+if length(`"`output'"') == 0 { 
+     local output taxsim_out 
+} 
+display "TAXSIM results will be saved in `output'.dta"
+capture drop taxsimid 
+if _rc==0 {
+   display "Dropping taxsim id."   
+}
+preserve
+capture generate taxsimid = _n
+
+**  mtr is marginal is tax rate.  
+local mtr 85           
+**  idtl is output. 0 is basic
+local idtl 0                   
+
+#delimit ;
+**  marginal tax rate options ;
+if `"`secondary'"' == `"secondary"' { ;
+     local mtr 86 ; 
+     display "Marginal rate with respect to secondary earner";
+} ;                               
+if `"`wages'"' == `"wages"' { ;
+     local mtr 11 ;
+     display "Marginal rate with respect to overall earnings";
+} ;                                
+if `"`interest'"' == `"interest"' { ;
+     local mtr 14 ;
+     display "Marginal rate with respect to interest income";
+} ;
+if `"`long'"' == `"long"' { ;
+     local mtr 70 ;
+     display "Marginal rate with respect to long term gains";
+} ;
+
+if `"`full'"' == `"full"' { ;
+     local idtl 2 ;
+     local addvars v10 v11 v12 v13 v14 v15 v16 v17 v18 v19 
+                        v20 v21 v22 v23 v24 v25 v26 v27 v28 v29 
+                        v30 v31 v32 v33 v34 v35 v36 v37 v38 v39 
+                        v40 v41 ;
+     display "Full Intermediate Calculations Requested";
+} ;
+if "`mtr'" == "85" { ;
+     display "Marginal rate with respect to primary earner";
+} ;
+if "`idtl'" == "0" { ;
+     display "Basic output";
+} ;
+
+if `plan' != 0 {;
+   display "Tax law modified according to TAXSIM plan " `plan';
+};
+if `planval' != 0 {;
+   display "Modified tax parameter is " `planval';
+};
+
+#delimit cr
+** Checking data sent to taxsim for validity
+** Checking for observations prior to variables for better error message.
+if _N==0 { 
+  display "Aborting:  No observations in data set" 
+  exit 
+}  
+local must_exist year mstat  
+foreach X of local must_exist { 
+  capture confirm var `X' 
+  if _rc > 0 { 
+       display "Aborting:  Variable `X' not found in data file" 
+       exit 
+  } 
+  capture assert missing(`X') 
+  if _rc == 0 { 
+     display "Aborting:  All values of variable `X' are missing." 
+     exit
+  } 
+}
+#delimit ;
+local invars year state mstat depx agex pwages swages dividends otherprop
+pensions gssi transfers rentpaid proptax otheritem childcare ui depchild
+mortgage ltcg stcg;
+#delimit cr
+
+foreach X of local invars { 
+  capture confirm var `X' 
+  if _rc > 0 { 
+     display "Variable `X' is not in the dataset.  Generating `X' = 0 " 
+     generate `X' = 0 
+  } 
+  capture assert missing(`X') 
+  if _rc == 0 { 
+     display "All values of variable `X' are missing.  Replacing `X' = 0 " 
+     replace `X' = 0 
+  } 
+} 
+*display "Checking variables are numeric"
+foreach X of local invars {
+     capture confirm numeric variable `X'
+     if _rc > 0 {
+          display "Aborting:  Variable `X' is not numeric.  See help tostring."
+          exit 
+     }
+}
+scalar startobs = _N
+scalar obs0=_N
+quietly drop if year<1960 | year>2023 | year==. 
+drop_message obs0-_N year
+quietly drop if state<-1 | state > 51 | missing(state)
+drop_message obs0-_N state
+** The maximum value of year will need updating annually 
+quietly drop if (year<1977|year>2016) & state !=0
+drop_message obs0-_N state-and-year-combination
+quietly drop if depx<0 | depx>999
+drop_message obs0-_N depx
+quietly drop if mstat<1 | ( mstat>4 & mstat<7 ) | mstat>8
+drop_message obs0-_N mstat
+quietly drop if agex<0 | agex>12000
+drop_message obs0-_N agex
+quietly drop if depchild<0|depchild>999999
+drop_message obs0-_N depchild
+** Replacing spouses wage=0 if not filing jointly
+quietly replace swages=0 if mstat!=2
+#delimit ;
+local positive_items                    dividends pensions  gssi transfers rentpaid
+                     proptax otheritem  childcare ui mortgage;
+#delimit cr
+scalar obs0=_N
+foreach X in `positive_items' swage pwage {
+   quietly drop if `X'<0 |  `X' >=99999999 | `X'==.
+   if (obs0>_N) {
+      display obs0-_N " records droped for out of range `X'  
+   }
+   scalar obs0=_N
+}
+** display "Checking there is at least 1 observation is left after the final drop"
+if _N==0 { 
+  display "Aborting:  No observations in data set" 
+  exit 
+}  
+
+/*
+*display "Eliminating scientific notation format in outfile" 
+foreach X of local invars {
+     format %15.2f `X'
+}*/
+
+if `"`debug'"' == `"debug"' {
+   display "Here are the variable counts and means after cleaning:"
+   summarize `invars'
+}
+
+capture describe
+di _N " records out of " startobs " are left for taxsim to process"
+local sent=_N
+** Handling the case of state=-1
+local sent51=`sent'*51
+quietly tostring taxsimid,replace
+quietly replace taxsimid ="9 `mtr' `idtl' `plan' `planval' /" + char(10) + taxsimid in 1
+
+local obs=r(N)
+outfile taxsimid `invars' using `outfile',noquote nolabel 
+
+if `"`local'"' == `"local"' {
+   ! taxsim9 <`outfile' >`infile'
+}
+else {
+   local servername= "`c(current_time)'"
+   local servername = subinstr("`servername'",":","",2)
+   di "server filename is `servername'"
+   di "         infile is `infile'"
+   di "        outfile is `outfile'"
+   file open out using ftp.txt, write replace
+   local slashck "/C"
+   if `"`debug'"' == `"debug"' {
+      local slashck "/K"
+      di "Type EXIT in DOS window to return to stata."
+      file write out "debug" _n
+   }
+   file write out "open taxsimftp.nber.org" _char(10)
+   file write out "user taxsim 02138" _char(10)
+   file write out "cd tmp" _char(10)
+   file write out "type ascii" _char(10)
+   file write out "put `outfile' `servername'" _char(10)
+   file write out "get `servername'.taxsim `infile'" _char(10)
+   file write out "get `servername'.msg msg.txt" _char(10)
+   if _n > 10000 { 
+       file write out "del `servername'" _char(10)
+   }
+   file write out "quit" _char(10)
+   file close out
+   capture { rm msg.txt }
+   di "`c(os)`"
+   if "`c(os)'" == "Windows" {
+      ! cmd `slashck' ftp -n -s:ftp.txt -w:12888 
+   }
+   else {
+      ! ftp -n <ftp.txt 
+   }
+   capture confirm file "msg.txt" 
+   if _rc==0 {
+      type msg.txt 
+   }
+}
+local results taxsimid year state fiitax siitax fica frate srate ficar `addvars'
+** The state option can generate many 'cannot be read' errors for non-matching states ;
+quietly infile `results' using "`infile'",clear
+quietly describe
+if ( `r(N)'==0 ) {
+   display "This machine may have had trouble communicating with our server"
+   display "Consult the Notes and Support section of the help file to begin troubleshooting."
+   exit
+}
+if ( `r(N)'-`sent'>1 & `r(N)'-`sent51'>=1 ) {
+   display "This machine may have had trouble communicating with our server"
+   display "Check the size and content of the result file (results.raw, by default)" 
+   display "If processing stopped midway, the results file may be large"
+   display "but if not, the top of the file may include a message from our webserver"
+   display "that would be helpful for debugging"
+   display "Consult the Notes and Support section of the help file for troubleshooting info"
+   display "http://www.nber.org/taxsim/stata/ "
+   display "`r(N)'!=`sent' & `r(N)'!=`sent51'"
+   exit
+}
+label variable state  "state id"
+label variable fiitax "Federal Income Tax"
+label variable siitax "State Income Tax"
+label variable fica   "OASDI and HI Payroll Tax"
+label variable frate  "IIT marginal rate"
+label variable srate  "state marginal rate"
+label variable ficar  "SS marginal rate" 
+if `"`full'"' == `"full"' { 
+label variable v10 "Federal AGI" 
+label variable v11 "UI in AGI" 
+label variable v12 "Social Security in AGI" 
+label variable v13 "Zero Bracket Amount" 
+label variable v14 "Personal Exemptions" 
+label variable v15 "Exemption Phaseout" 
+label variable v16 "Deduction Phaseout" 
+label variable v17 "Deductions allowed" 
+label variable v18 "Federal Taxable Income" 
+label variable v19 "Federal Regular Tax" 
+label variable v20 "Exemption Surtax" 
+label variable v21 "General Tax Credit" 
+label variable v22 "Child Tax Credit (as adjusted)" 
+label variable v23 "Refundable Part of Child Tax Credit" 
+label variable v24 "Child Care Credit" 
+label variable v25 "Earned Income Credit" 
+label variable v26 "Income for the Alternative Minimum Tax" 
+label variable v27 "AMT Liability (addition to regular tax)" 
+label variable v28 "Income Tax before Credits"
+label variable v29 "FICA" 
+label variable v30 "State Household Income" 
+label variable v31 "State Rent Payments" 
+label variable v32 "State AGI" 
+label variable v33 "State Exemption amount" 
+label variable v34 "State Standard Deduction" 
+label variable v35 "State Itemized Deductions" 
+label variable v36 "State Taxable Income" 
+label variable v37 "State Property Tax Credit" 
+label variable v38 "State Child Care Credit" 
+label variable v39 "State EITC "
+label variable v40 "State Total Credits" 
+label variable v41 "State Bracket Rate" 
+} 
+sort taxsimid state  
+capture save `output', replace 
+restore 
+display " "
+if `"`replace'"' != `"replace"' {
+   display "TAXSIM results are saved in `output'" 
+   display " "
+   display "To merge the TAXSIM results to the current dataset, run the commands below." 
+   display " "
+   if `"`x51'"' == `"x51"' {
+      display "generate taxsimid = _n" 
+      display "replace state=statet"
+      display "sort taxsimid state"
+      display "merge taxsimid state using `output', nokeep replace update"
+      display "drop statet _merge"
+   }
+   else {
+      display "generate taxsimid = _n"
+      display "sort taxsimid"
+      display "merge taxsimid using `output',replace update"
+   }
+   display " "
+   display "To avoid merging by hand, rerun with the replace option "
+   display "to automatically merge the datasets."
+}
+else {
+   capture drop taxsimid _merge
+   capture generate taxsimid = _n
+   if `"`x51'"' == `"x51"' {
+      display "TAXSIM results are being merged with workspace by taxsimid state"
+      replace state = statet
+      sort taxsimid state
+      merge taxsimid state using `output',replace update
+      display "Keeping only matching state data"
+      drop if statet==.
+      drop statet _merge
+   }
+   else {
+      display "TAXSIM results are being merged with workspace by taxsimid"
+      sort taxsimid 
+      merge taxsimid using `output',replace update
+      drop _merge
+   }
+}
+display " "
+end
+  
+program define drop_message, rclass 
+version 8.0
+args dropped varname
+if (`dropped'>0) {
+   display `dropped' %8.0g " records dropped for out of range `varname'"
+}
+scalar obs0 =_N
+end
+ 

42/replication_package/data_replication/psid/code/taxsim9_ado_files/taxsim9.hlp

@@ -0,0 +1,294 @@
+{smcl}
+{* 20 September 2008}{...}
+{hline}
+help for {it:{hi:taxsim9}}                                         
+{hline}
+
+{title:NBER TAXSIM model for federal and state income taxes}
+
+{title:Description}
+
+{p 8 18 2}
+{cmdab:taxsim9}[,{cmdab:f:ull} {cmdab:o:utput}
+{cmdab:s:econdary}|{cmdab:w:ages}|{cmdab:i:nterest}|{cmdab:l:ong} 
+{cmdab:d:ebug} {cmdab:p:lan} {cmdab:planv:al} {cmdab:x:51}
+{cmdab:r:eplace}]
+
+{p 4 4 2}calculates federal and state income tax liability from 21 input 
+variables.  These variables are be defined in your current workspace 
+before calling taxsim.  The program returns values for various tax return 
+concepts, taxes, credits, and marginal tax rates as new named variables in 
+a new dataset or merged into your current workspace. 
+
+{p 4 4 2}The tax calculator itself is the same FORTRAN program that the NBER has 
+been updating annually since 1974, but with a simplified input file (no married 
+filing separate or income averaging, etc). This interface merely packages up your 
+data and sends it to Cambridge for the actual calculations, which are returned and 
+merged into your current dataset. No tax calculations are done on your computer, 
+although there is some range checking of your data. 
+
+{title:Input Variables:}
+
+{p 4 4 2} {hi:year:} 4-digit year between 1960 and 2023. Between 1977 and
+2015 if state tax is requested. No default.
+
+{p 4 4 2} {hi:state:} state identifier. These are numeric codes from 1 to
+51 (Alabama to Wyoming in alphabetical order) with zero indicating "no
+state tax".   
+
+{p 4 4 2} {hi:mstat:} Marital status 1 for single, 2 for joint, 3 for head
+of household. No default.
+
+{p 4 4 2} {hi:depx:} Number of dependents ( usually kids, but can be any age ) per 
+tax form. Must not be less than depchild (below).
+
+{p 4 4 2} {hi:agex:} The age of the primary taxpayer times 100 plus the age of the 
+secondary taxpayer (if any). Forexample 6563 would a 65 year old married to a 63 
+year old. If zero we assume the taxpayer is of an age eligible for the EITC and the 
+full AMT exclusion but not for any age exemption or supplemental standard deduction. 
+It is not an error for a taxpayer to be over 99 years of age but the secondary 
+taxpayer must be of legal marriagable age. 10301 would be a 102 year old married to 
+a 101 year old. Prior to July 2016 this field was the number of taxpayers 65 years 
+of age or more, and that usage is still accepted for backward compatibility, however 
+EITC, and AMT are more accurate with exact ages.
+
+{p 4 4 2} {hi:pwages:} Wage income of primary taxpayer
+
+{p 4 4 2} {hi:swages:} Wage income of secondary taxpayer
+
+{p 4 4 2} {hi:dividends:} Dividend income
+
+{p 4 4 2} {hi:otherprop:} Interest and other property income. This may be 
+negative. You can put net alimony here, and subtract any adjustments such 
+as IRAs, Keoghs and self employment tax, to the extent that yuo may know 
+such items.
+
+{p 4 4 2} {hi:pensions:} IRA distributions and Taxable pension income
+
+{p 4 4 2} {hi:gssi:} Gross social security benefits. Taxsim will calculate the
+portion includable in AGI.
+
+{p 4 4 2} {hi:transfers:} Non-taxable transfer income, used for
+calculating low income credits and property tax credits on state taxes.
+
+{p 4 4 2} {hi:rentpaid:} Rent paid is used in some state property tax
+credits.
+
+{p 4 4 2} {hi:proptax:} Property tax paid is an itemized deduction and is a 
+preference for the AMT.
+
+{p 4 4 2} {hi:otheritem:} Taxes paid other than state income taxes. Taxsim will use 
+its own calculated state income tax as an itemized deduction. These are preferences 
+for the AMT.
+
+{p 4 4 2} {hi:childcare:} Child care expenses are a credit in the federal
+tax.
+
+{p 4 4 2} {hi:ui:} Unemployment compensation benefits. Taxsim will calculate the 
+portion included in AGI.
+
+{p 4 4 2} {hi:depchild:} Number of dependent children under 17 (for child
+credit), optionally plus 100 times the number of dependent children under 18 plus 
+10000 times the number of dependent children under 13. e.g. 10302 for 1 child 
+eligible for child care credit, three counted for the EIC and 2 for the child tax 
+credit. Note that to maintain backward compatibility if this value is under 100 then 
+the number of dependents is used for the child care and EIC credits.
+ 
+{p 4 4 2} {hi:mortgage:} Mortgage interest paid, possibly plus charitable 
+contibutions, and some minor items that are not preferences for the AMT.
+
+{p 4 4 2} {hi:stcg:} Short term capital gain or loss (+/-).
+
+{p 4 4 2} {hi:ltcg:} Long term capital gain or loss (+/-).
+
+{title:The following variables are returned by the procedure:}
+
+{p 4 4 2} {hi:taxsimid:} Record identifer, _n ,
+used to merge taxsim_out.dta back to source workspace.
+
+{p 4 4 2} {hi:year:}  Unchanged from input.
+
+{p 4 4 2} {hi:state:}  Unchanged from input.
+
+{p 4 4 2} {hi:fiitax:} Federal tax liability, after regular, minimum, and
+maximum tax, and after refundable credits.
+
+{p 4 4 2} {hi:siitax:} State tax liability after refundable credits.
+
+{p 4 4 2} {hi:fica:} FICA tax liability, sum of employer and employee shares.
+
+{p 4 4 2} {hi:frate:} Marginal federal tax rate wrt primary worker wages.  You can 
+change this to the weighted average of the rates on the primary and secondary 
+earners, (equal weights if both are non-workers), secondary earner, property income, 
+or long term gains with the options, {cmd:Wages},{cmd:Secondary}, {cmd:Interest} or 
+{cmd:Long}.
+
+{p 4 4 2} {hi:srate:} Marginal state tax rate. Same options apply here.
+
+{p 4 4 2} {hi:ficar:} Marginal FICA rate. The estimate of FICA tax
+includes both employer and employee portions, and ignores the favorable
+treatment of self-employment income.
+
+{title:Missing Data:} {p 4 4 2} All variables except year and marital
+status are optional, and the tax calculation will proceed as if missing
+variables are zero after printing a warning. A variable is missing if
+it doesn't show up in a describe command - this is different from missing values
+for a defined variable.
+
+{p 4 4 2}An individual case missing value for any variable in the list of 21 
+variables will result in listwise deletion. Zero is an acceptable value for any 
+dollar amount. A zero for the state id, means "no state tax" and in that case zero 
+is returned for the state tax liability. Negative values are allowed only for 
+capital gains and {hi:otherprop}, and will cause listwise deletion if encountered in 
+other variables.
+
+{title:Additional Output:} 
+
+{title:Options}
+
+{p 4 4 2}{cmd:full:} Return many intermediate calculations (taxable 
+income, regular tax, individual credits, etc. All the returned variables 
+have labels defined in taxsim9.ado - use "describe" to get the full list 
+or browse the web page below.
+
+{p 4 4 2}{cmd:output:} Specify the name of the output dataset.  The
+default is taxsim_out.dta in the current directory.
+
+{p 4 4 2}{cmd:secondary:}  Calculate marginal tax rates with respect to
+the secondary wage earner. The default is with respect to the primary wage
+earner.
+
+{p 4 4 2}{cmd:wages:} Calculate marginal tax rates with respect to a
+weighted average of the primary and secondary wage earner.
+
+{p 4 4 2}{cmd:interest:}  Calculate marginal tax rates with respect to
+interest income.
+
+{p 4 4 2}{cmd:long:}  Calculate marginal tax rates with respect to
+long term gains.
+
+{p 4 4 2}{cmd:debug:} Do not erase intermediate ASCII files written in the
+current directory.  Summarize input variables after cleaning. The intermediate files 
+are essential for debugging. If you are reporting errors to NBER, be sure to
+create a small (no more than a couple of observations) test file to send to us.
+
+{p 4 4 2}{cmd:x51:}  Users of the AHEAD, HRS, and other confidential
+data are reminded that they are not permitted to send state identifiers to
+us.  If such users need state tax calculations they should set this option
+which instructs taxsim8.ado (running on your computer) to drop the state
+identifier from records sent to our server, and instructs the server to
+return 51 records for each record received, one for each possible state.
+Then taxsim9.ado (at your computer) will discard the 50 spurious records
+from the returned data, leaving you with tax calculations for the correct
+state for each taxpayer, and without sending us anything you aren't
+allowed to share. Don't laugh - it works and the inefficiency is tolerable.
+
+{p 4 4 2}{cmd:replace:} Merge the taxsim output file into the workspace, possibly 
+overwriting existing variables. Otherwise output is saved to taxsim_out.dta in the 
+current directory. You can run taxsim multiple times with the replace option set and 
+the results will not change unless you change the input data or procedure options.
+
+{p 4 4 2}{cmd:Plan:} Modify the tax calculation according to the list of alternative 
+tax laws listed at "http://www.nber.org/taxsim/taxsim=calc9/plans.html".
+
+{p 4 4 2}{cmd:PLANVar:} Parameter for the {cmd:Plan:}.
+
+{title:Notes:}
+
+{p 4 4 2}Dollar amounts are rounded to the nearest penny before
+transmission to the calculator, and calculated amounts are similarly
+treated.
+
+{p 4 4 2}Extreme marginal tax rates due to notches will become missing
+values. 
+
+{p 4 4 2}The maximum upload file size is vague, but use caution for files larger 
+than 100,000 cases. Start small, and test the server reaction to larger files.
+  
+{p 4 4 2}Taxsim9.ado writes out the 21 variables (plus a record id) to a temporary 
+ASCII file and also writes a short ftp script for uploading that file to the NBER 
+taxsim server. Then the same script downloads a file of the same name with the 
+.taxsim suffix added. Our ftp server is modified to run such files through the 
+taxsim program, and return the calculated results rather than the original file. The 
+results are copied to your local hard disk and loaded into the taxsim_out.dta 
+dataset in your home directory. If you wish to examine the process, study the .ado 
+file and ftp.txt files.
+
+{p 4 4 2}Throughput is variable but one user reports 1,500
+records/minute with an excellent connection (25 milliseconds ping time).
+If you experience time-outs, please split your dataset into pieces for
+sequential processing, if processing is reliable, you may consider larger
+pieces. I would be interested in hearing reports.
+
+{title:Example:}
+{p 4 8 2}{cmd:. input state year mstat pwages}
+
+{p 4 8 2}{cmd:. 5 2004 1 50000}
+
+{p 4 8 2}{cmd:. end}
+
+{p 4 8 2}{cmd:. taxsim9, full interest replace}{p_end}
+
+{p 4 4 2} The example posits a single taxpayer in California with $50,000
+of wage income, and returns the marginal tax rate with respect to interest
+income, among other values.
+
+{title:Support:}
+
+{p 4 4 2}Dan Feenberg would like to speak with anyone using this program - 
+give him a call after you have done some experimenting, but before 
+investing a lot of time and certainly before submitting for publication. If you 
+encounter bugs please prepare a test case with no more than 3 observations and run 
+with the following settings:
+
+
+{p 4 8 2}{cmd:. log using foo,text}
+
+{p 4 4 2}and also with trace on:
+
+{p 4 8 2}{cmd:. set trace on}
+   
+{p 4 4 2}and with the debug option for taxsim:
+
+{p 4 8 2}{cmd:. taxsim9,debug}
+
+{p 4 4 2}set and the files txpydata.raw,results.raw, ftp.txt and msg.txt included 
+with your message. If there is no results.raw file, that probably means that ftp 
+wasn't found or didn't work.
+
+{p 4 4 2}Be sure to provide stata test runs with the smallest possible dataset that 
+demonstrates the problem (preferably one record), run with the debug flag set, and 
+attach the debug files. But always follow the instructions below.
+
+{p 4 4 2}If any tax calculation surprises you, please enter the taxpayer data in the 
+web form mentioned below. A detailed explanation of the calculation will be 
+returned, which may remind you of a code feature or interaction you were unaware of. 
+If you still think the calculation is wrong, follow the instructions given there for 
+sending bug reports. We are very responsive to these communications - they do result 
+in improvements to the calculator, generally within a day or two. But please send us 
+a single record demonstrating the error, not a large file. Most users anticipate we 
+need to be encouraged to respond by the possibility that the error is common and 
+submit large files to demonstrate that. This is not true and we will respond 
+with a request that the file be cut down. 
+
+{p 4 4 2}See {browse "http://www.nber.org/taxsim/taxsim9/"} the TAXSIM web 
+site for additional information about the tax caculator. Although that is the 
+interface for the Web version of taxsim, there is much valuable information there 
+about the operation of the program and the calculation of marginal rates which may 
+surprise you.
+
+{p 4 4 2}A general description of Taxsim is given in 
+{browse "http://www.nber.org/taxsim/feenberg-coutts.pdf"}.
+
+{col 5}Daniel Feenberg ( tax questions )     
+{col 5}[email protected]                    
+{col 5}617-863-0343
+
+{p 4 13 2}
+Online:  help for {help taxsim9}
+{p_end}
+
+{p 4 13 2}
+Web: {browse "http://www.nber.org/taxsim/taxsim-calc9"}
+{p_end}
+

42/replication_package/data_replication/psid/code/taxsim_2020.do

@@ -0,0 +1,208 @@
+clear all
+set more off
+set maxvar 10000
+
+*Set path
+***
+
+*cd ---- specify path to \data_replication\psid\
+local procdata  "./proc_data"
+
+*Define the CPI annual average for each relevant year. 
+*These are defined for the relevant year of the survey (e.g cpi1999 is for 1998)
+*Values taken from FRED series CPIAUCSL, annual data, average across months
+local cpi1999 = 163.01
+local cpi2001 = 172.19
+local cpi2003 = 179.87
+local cpi2005 = 188.91
+local cpi2007 = 201.56 
+local cpi2009 = 215.25
+local cpi2011 = 218.09
+local cpi2013 = 229.59
+local cpi2015 = 236.72
+local cpi2017 = 240.01
+
+
+*Run TAXSIM and compute disposable income
+forval x=1999(2)2017{
+	di "YEAR `x'"
+	
+	cd raw_data
+	
+	*Recode the PSID data
+	do FAM`x'ER.do
+	
+	*Construct the variables of interest (income components)
+	do save_data_`x'.do
+	
+	********************
+	*Proceed to TAXSIM
+	********************
+	*Generate tax year (previous year from the survey year)
+	g year = year_survey - 1		
+	
+	*Convert PSID state codes to TAXSIM state format
+	g state = 0		
+	replace state = 1  if state_residence == 01 /* Alabama */
+	replace state = 2  if state_residence == 50 /* Alaska */
+	replace state = 3  if state_residence == 02 /* Arizona */
+	replace state = 4  if state_residence == 03 /* Arkansas */
+	replace state = 5  if state_residence == 04 /* California */
+	replace state = 6  if state_residence == 05 /* Colorado */
+	replace state = 7  if state_residence == 06 /* Connecticut */
+	replace state = 8  if state_residence == 07 /* Delaware */
+	replace state = 9  if state_residence == 08 /* DC */
+	replace state = 10 if state_residence == 09 /* Florida */
+	replace state = 11 if state_residence == 10 /* Georgia */
+	replace state = 12 if state_residence == 51 /* Hawaii */
+	replace state = 13 if state_residence == 11 /* Idaho */
+	replace state = 14 if state_residence == 12 /* Illinois */
+	replace state = 15 if state_residence == 13 /* Indiana */
+	replace state = 16 if state_residence == 14 /* Iowa */
+	replace state = 17 if state_residence == 15 /* Kansas */
+	replace state = 18 if state_residence == 16 /* Kentucky */
+	replace state = 19 if state_residence == 17 /* Louisiana */
+	replace state = 20 if state_residence == 18 /* Maine */
+	replace state = 21 if state_residence == 19 /* Maryland */
+	replace state = 22 if state_residence == 20 /* Massachusetts */
+	replace state = 23 if state_residence == 21 /* Michigan */
+	replace state = 24 if state_residence == 22 /* Minnesota */
+	replace state = 25 if state_residence == 23 /* Missippi */
+	replace state = 26 if state_residence == 24 /* Missouri */
+	replace state = 27 if state_residence == 25 /* Montana */
+	replace state = 28 if state_residence == 26 /* Nebraska */
+	replace state = 29 if state_residence == 27 /* Nevada */
+	replace state = 30 if state_residence == 28 /* NewHampshire */
+	replace state = 31 if state_residence == 29 /* NewJersey */
+	replace state = 32 if state_residence == 30 /* NewMexico */
+	replace state = 33 if state_residence == 31 /* NewYork */
+	replace state = 34 if state_residence == 32 /* NorthCarolina */
+	replace state = 35 if state_residence == 33 /* NorthDakota */
+	replace state = 36 if state_residence == 34 /* Ohio */
+	replace state = 37 if state_residence == 35 /* Oklahoma */
+	replace state = 38 if state_residence == 36 /* Oregon */
+	replace state = 39 if state_residence == 37 /* Pennsylvania */
+	replace state = 40 if state_residence == 38 /* RhodeIsland */
+	replace state = 41 if state_residence == 39 /* SouthCarolina */
+	replace state = 42 if state_residence == 40 /* SouthDakota */
+	replace state = 43 if state_residence == 41 /* Tennessee */
+	replace state = 44 if state_residence == 42 /* Texas */
+	replace state = 45 if state_residence == 43 /* Utah */
+	replace state = 46 if state_residence == 44 /* Vermont */
+	replace state = 47 if state_residence == 45 /* Virginia */
+	replace state = 48 if state_residence == 46 /* Washington */
+	replace state = 49 if state_residence == 47 /* WestVirginia */
+	replace state = 50 if state_residence == 48 /* Wisconsin */
+	replace state = 51 if state_residence == 49 /* Wyoming */
+	
+	*Marital status: 1 for single, 2 for joint, 3 for head of household.		
+	* Making single if never married, widowed, divorced, separated, or other.
+	g mstat = cond(marital_status_head != 1, 1, 2)
+	* Making head of household if unmarried with children.
+	*replace mstat = 3 if mstat == 1 & children > 0
+			
+	*Number of dependents (kids) per tax form. 
+	g depx = children
+
+	*Labor income of primary and secondary taxpayers
+	*Includes:
+	*wages and salaries
+	*+any separate reports of bonuses 
+	*+overtime 
+	*+tips
+	*+commissions 
+	*+professional practice or trade
+	*+market gardening
+	*+additional job income
+	*+and miscellaneous labor income      
+	g pwages  = labor_inc_head + business_labor_income_head
+	g swages = (labor_inc_wife+business_labor_income_wife)*(mstat==2) 
+	*g swages = labor_inc_wife*(mstat==2) // only matters if married
+
+	*Gross social security benefits
+	*Taxsim will calculate the portion includable in adjusted gross income (AGI)
+	g gssi = socsec_income_hh //together wife and head
+			
+	*Other non-taxable transfer Income such as welfare, workers comp, 
+	*veterans benefits and child support that would affect eligibility for state
+	*property tax rebates but would not be taxable at the federal level
+	g transfers = vapension_inc_head + workerscomp_inc_head + tanf_inc_head + ///
+				  otherwelfare_inc_head + childsupport_inc_head + transf_rel_head + ///
+				  ssi_head+ ///
+				  (mstat==2)*(workerscomp_inc_wife +  tanf_inc_wife + otherwelfare_inc_wife + ///
+				  childsupport_inc_wife + transf_rel_wife + ssi_wife) 
+				  *(mstat==2)*(workerscomp_inc_wife +  tanf_inc_wife + otherwelfare_inc_wife + ///
+				  *childsupport_inc_wife + transf_rel_wife + ssi_wife) 
+
+				  
+	*Unemployment compensation benefits
+	*Taxsim will calculate the portion included in AGI
+	g ui = unemployment_inc_head + unemployment_inc_wife
+	*g ui = unemployment_inc_head + (mstat==2)*unemployment_inc_wife
+
+	*Number of dependents under age 17
+	*Cannot distinguish between children in PSID (asign all children who live in 
+	*Family Unit as dependent)
+	g depchild = children
+	
+	*IRA and annuities (benefits and contributions)
+	*g otherprop=pension_ben-pension_contrib
+	
+	*Annuities/IRAs head and wife (benefits)
+	g otherprop=annira_head+pension_wife+business_asset_income_head+business_asset_income_wife
+	
+	*Taxable retirement income
+	g pensions = nonva_retir_head+other_pen_head
+	
+	*Labor income less pension contributions
+	replace pwages = pwages - stat_pen_contrib_head
+	replace swages = swages - stat_pen_contrib_wife
+	
+	*NEW CODE
+	replace pwages = . if pwages<0
+	replace swages = . if swages<0
+	replace mstat = 2 if mstat == 1 & pwages>0 & swages>0
+	replace state=. if state==0
+	replace year = `x' - 1
+	*replace otherprop=0 if otherprop<0
+	sum otherprop
+	drop otherprop     //new taxsim9 ado does not treat this variable well and reports back missing values for entire observations when otherprop is included in code
+	
+	
+	*Run taxsim
+	taxsim9, full replace
+	
+	di "TAXSIM FOR YEAR `x' OVER"
+
+	*Compute total income before tax
+	gen pretax_income = pwages + swages + transfers + gssi + ui + pensions
+	*gen pretax_income = pwages + swages + transfers + gssi + ui + otherprop + pensions
+	 
+	
+	*Compute disposable income
+	*Deflate by the CPI (base year 1998)
+	rename fiitax federalTax
+	rename siitax stateTax
+	gen aftertax_income_defl = (pretax_income - federalTax - stateTax)*(`cpi1999' / `cpi`x'')
+	
+	*Drop HH with negative income (stemming from pension contributions that are too high relative to income or from business losses)
+	drop if aftertax_income_defl<0
+	
+	*Adjust using equivalence scales (OECD)
+	gen nr_adult = size_fam-depchild
+	gen equiv = 1.0 + 0.7*(nr_adult-1) + 0.5*depchild
+	gen aftertax_income_defl_equiv= aftertax_income_defl/equiv    
+	
+	*Drop all unnecessary variables
+	keep aftertax_income_defl_equiv age_head year_survey ed_head marital_status_head fam_ID_1968 fam_ID_year size_fam equiv state_residence mstat year
+	
+	cd ..
+	
+	
+	save "`procdata'/tempX`x'.dta",replace
+	
+	
+	
+}
+
+

42/replication_package/data_replication/psid/output/tab1_refi_liquidity.csv

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42/replication_package/data_replication/psid/proc_data/our_proc/temp2009.dta

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42/replication_package/data_replication/psid/proc_data/our_proc/temp2011.dta

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42/replication_package/data_replication/psid/raw_data/CON01.do

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+
+#delimit ;
+
+**************************************************************************
+   Label           : Consumption 2001
+   Rows            : 7406
+   Columns         : 35
+   ASCII File Date : May 1, 2014
+*************************************************************************;
+
+
+infix 
+      REL01           1 - 1         CON01_ID        2 - 6         FOOD01          7 - 16   
+      FDHM01         17 - 26        FDOUT01        27 - 36        FDDEL01        37 - 46   
+      HOUS01         47 - 56        MORT01         57 - 66        RENT01         67 - 76   
+      PRPTAX01       77 - 86        HMEINS01       87 - 96        UTIL01         97 - 106  
+      HEAT01        107 - 116       ELECTR01      117 - 126       WATER01       127 - 136  
+      OUTIL01       137 - 146       TRAN01        147 - 156       VEHLN01       157 - 166  
+      VEHPAY01      167 - 176       VEHLS01       177 - 186       AUTOIN01      187 - 196  
+      VEHADD01      197 - 206       VEHREP01      207 - 216       GAS01         217 - 226  
+      PARK01        227 - 236       BUS01         237 - 246       CAB01         247 - 256  
+      OTRAN01       257 - 266       ED01          267 - 276       CHILD01       277 - 286  
+      HEALTH01      287 - 296       HOS01         297 - 306       DOCTOR01      307 - 316  
+      PRESCR01      317 - 326       HINS01        327 - 336  
+using CON01.txt, clear 
+;
+label variable  REL01      "2001 CONSUMPTION RELEASE NUMBER" ;                 
+label variable  CON01_ID   "2001 FAMILY INTERVIEW (ID) NUMBER" ;               
+label variable  FOOD01     "2001 FOOD EXPENDITURE" ;                           
+label variable  FDHM01     "2001 FOOD AT HOME EXPENDITURE" ;                   
+label variable  FDOUT01    "2001 FOOD AWAY FROM HOME EXPENDITURE" ;            
+label variable  FDDEL01    "2001 FOOD DELIVERED EXPENDITURE" ;                 
+label variable  HOUS01     "2001 HOUSING EXPENDITURE" ;                        
+label variable  MORT01     "2001 MORTGAGE EXPENDITURE" ;                       
+label variable  RENT01     "2001 RENT EXPENDITURE" ;                           
+label variable  PRPTAX01   "2001 PROPERTY TAX EXPENDITURE" ;                   
+label variable  HMEINS01   "2001 HOME INSURANCE EXPENDITURE" ;                 
+label variable  UTIL01     "2001 UTILITY EXPENDITURE" ;                        
+label variable  HEAT01     "2001 GAS FOR HOME EXPENDITURE" ;                   
+label variable  ELECTR01   "2001 ELECTRICITY EXPENDITURE" ;                    
+label variable  WATER01    "2001 WATER/SEWER EXPENDITURE" ;                    
+label variable  OUTIL01    "2001 OTHER UTILITY EXPENDITURE" ;                  
+label variable  TRAN01     "2001 TRANSPORTATION EXPENDITURE" ;                 
+label variable  VEHLN01    "2001 VEHICLE LOAN PAYMENT EXPENDITURE" ;           
+label variable  VEHPAY01   "2001 VEHICLE DOWN PAYMENT EXPENDITURE" ;           
+label variable  VEHLS01    "2001 VEHICLE LEASE PAYMENT EXPENDITURE" ;          
+label variable  AUTOIN01   "2001 AUTO INSURANCE EXPENDITURE" ;                 
+label variable  VEHADD01   "2001 ADDITIONAL VEHICLE EXPENDITURE" ;             
+label variable  VEHREP01   "2001 VEHICLE REPAIR EXPENDITURE" ;                 
+label variable  GAS01      "2001 GASOLINE EXPENDITURE" ;                       
+label variable  PARK01     "2001 PARKING EXPENDITURE" ;                        
+label variable  BUS01      "2001 BUS/TRAIN EXPENDITURE" ;                      
+label variable  CAB01      "2001 TAXICAB EXPENDITURE" ;                        
+label variable  OTRAN01    "2001 OTHER TRANSPORTATION EXPENDITURE" ;           
+label variable  ED01       "2001 EDUCATION EXPENDITURE" ;                      
+label variable  CHILD01    "2001 CHILDCARE EXPENDITURE" ;                      
+label variable  HEALTH01   "2001 HEALTH CARE EXPENDITURE" ;                    
+label variable  HOS01      "2001 HOSPITAL/NURSING HOME EXPENDITURE" ;          
+label variable  DOCTOR01   "2001 DOCTOR EXPENDITURE" ;                         
+label variable  PRESCR01   "2001 PRESCRIPTIONS/OTHER EXPENDITURE" ;            
+label variable  HINS01     "2001 HEALTH INSURANCE EXPENDITURE" ;               

42/replication_package/data_replication/psid/raw_data/CON01.txt

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+size 2503228

42/replication_package/data_replication/psid/raw_data/CON03.do

@@ -0,0 +1,61 @@
+
+#delimit ;
+
+**************************************************************************
+   Label           : 2003 Consumption File
+   Rows            : 7822
+   Columns         : 35
+   ASCII File Date : May 1, 2014
+*************************************************************************;
+
+
+infix 
+      REL03           1 - 1         CON03_ID        2 - 6         FOOD03          7 - 16   
+      FDHM03         17 - 26        FDOUT03        27 - 36        FDDEL03        37 - 46   
+      HOUS03         47 - 56        MORT03         57 - 66        RENT03         67 - 76   
+      PRPTAX03       77 - 86        HMEINS03       87 - 96        UTIL03         97 - 106  
+      HEAT03        107 - 116       ELECTR03      117 - 126       WATER03       127 - 136  
+      OUTIL03       137 - 146       TRAN03        147 - 156       VEHLN03       157 - 166  
+      VEHPAY03      167 - 176       VEHLS03       177 - 186       AUTOIN03      187 - 196  
+      VEHADD03      197 - 206       VEHREP03      207 - 216       GAS03         217 - 226  
+      PARK03        227 - 236       BUS03         237 - 246       CAB03         247 - 256  
+      OTRAN03       257 - 266       ED03          267 - 276       CHILD03       277 - 286  
+      HEALTH03      287 - 296       HOS03         297 - 306       DOCTOR03      307 - 316  
+      PRESCR03      317 - 326       HINS03        327 - 336  
+using CON03.txt, clear 
+;
+label variable  REL03      "2003 CONSUMPTION RELEASE NUMBER" ;                 
+label variable  CON03_ID   "2003 FAMILY INTERVIEW (ID) NUMBER" ;               
+label variable  FOOD03     "2003 FOOD EXPENDITURE" ;                           
+label variable  FDHM03     "2003 FOOD AT HOME EXPENDITURE" ;                   
+label variable  FDOUT03    "2003 FOOD AWAY FROM HOME EXPENDITURE" ;            
+label variable  FDDEL03    "2003 FOOD DELIVERED EXPENDITURE" ;                 
+label variable  HOUS03     "2003 HOUSING EXPENDITURE" ;                        
+label variable  MORT03     "2003 MORTGAGE EXPENDITURE" ;                       
+label variable  RENT03     "2003 RENT EXPENDITURE" ;                           
+label variable  PRPTAX03   "2003 PROPERTY TAX EXPENDITURE" ;                   
+label variable  HMEINS03   "2003 HOME INSURANCE EXPENDITURE" ;                 
+label variable  UTIL03     "2003 UTILITY EXPENDITURE" ;                        
+label variable  HEAT03     "2003 GAS FOR HOME EXPENDITURE" ;                   
+label variable  ELECTR03   "2003 ELECTRICITY EXPENDITURE" ;                    
+label variable  WATER03    "2003 WATER/SEWER EXPENDITURE" ;                    
+label variable  OUTIL03    "2003 OTHER UTILITY EXPENDITURE" ;                  
+label variable  TRAN03     "2003 TRANSPORTATION EXPENDITURE" ;                 
+label variable  VEHLN03    "2003 VEHICLE LOAN PAYMENT EXPENDITURE" ;           
+label variable  VEHPAY03   "2003 VEHICLE DOWN PAYMENT EXPENDITURE" ;           
+label variable  VEHLS03    "2003 VEHICLE LEASE PAYMENT EXPENDITURE" ;          
+label variable  AUTOIN03   "2003 AUTO INSURANCE EXPENDITURE" ;                 
+label variable  VEHADD03   "2003 ADDITIONAL VEHICLE EXPENDITURE" ;             
+label variable  VEHREP03   "2003 VEHICLE REPAIR EXPENDITURE" ;                 
+label variable  GAS03      "2003 GASOLINE EXPENDITURE" ;                       
+label variable  PARK03     "2003 PARKING EXPENDITURE" ;                        
+label variable  BUS03      "2003 BUS/TRAIN EXPENDITURE" ;                      
+label variable  CAB03      "2003 TAXICAB EXPENDITURE" ;                        
+label variable  OTRAN03    "2003 OTHER TRANSPORTATION EXPENDITURE" ;           
+label variable  ED03       "2003 EDUCATION EXPENDITURE" ;                      
+label variable  CHILD03    "2003 CHILDCARE EXPENDITURE" ;                      
+label variable  HEALTH03   "2003 HEALTH CARE EXPENDITURE" ;                    
+label variable  HOS03      "2003 HOSPITAL/NURSING HOME EXPENDITURE" ;          
+label variable  DOCTOR03   "2003 DOCTOR EXPENDITURE" ;                         
+label variable  PRESCR03   "2003 PRESCRIPTIONS/OTHER EXPENDITURE" ;            
+label variable  HINS03     "2003 HEALTH INSURANCE EXPENDITURE" ;               

42/replication_package/data_replication/psid/raw_data/CON03.txt

@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:662c678567d365cf8f4e6342fabddde374925a16cf6c210112104bfb0f7ae009
+size 2643836

42/replication_package/data_replication/psid/raw_data/CON05.do

@@ -0,0 +1,69 @@
+
+#delimit ;
+
+**************************************************************************
+   Label           : 2005 Consumption File
+   Rows            : 8002
+   Columns         : 41
+   ASCII File Date : May 1, 2014
+*************************************************************************;
+
+
+infix 
+      REL05           1 - 1         CON05_ID        2 - 6         FOOD05          7 - 16   
+      FDHM05         17 - 26        FDOUT05        27 - 36        FDDEL05        37 - 46   
+      HOUS05         47 - 56        MORT05         57 - 66        RENT05         67 - 76   
+      PRPTAX05       77 - 86        HMEINS05       87 - 96        UTIL05         97 - 106  
+      HEAT05        107 - 116       ELECTR05      117 - 126       WATER05       127 - 136  
+      OUTIL05       137 - 146       TELINT05      147 - 156       TRAN05        157 - 166  
+      VEHLN05       167 - 176       VEHPAY05      177 - 186       VEHLS05       187 - 196  
+      AUTOIN05      197 - 206       VEHADD05      207 - 216       VEHREP05      217 - 226  
+      GAS05         227 - 236       PARK05        237 - 246       BUS05         247 - 256  
+      CAB05         257 - 266       OTRAN05       267 - 276       ED05          277 - 286  
+      CHILD05       287 - 296       HEALTH05      297 - 306       HOS05         307 - 316  
+      DOCTOR05      317 - 326       PRESCR05      327 - 336       HINS05        337 - 346  
+      HHREP05       347 - 356       FURN05        357 - 366       CLOTH05       367 - 376  
+      TRIPS05       377 - 386       OTHREC05      387 - 396  
+using CON05.txt, clear 
+;
+label variable  REL05      "2005 CONSUMPTION RELEASE NUMBER" ;                 
+label variable  CON05_ID   "2005 FAMILY INTERVIEW (ID) NUMBER" ;               
+label variable  FOOD05     "2005 FOOD EXPENDITURE" ;                           
+label variable  FDHM05     "2005 FOOD AT HOME EXPENDITURE" ;                   
+label variable  FDOUT05    "2005 FOOD AWAY FROM HOME EXPENDITURE" ;            
+label variable  FDDEL05    "2005 FOOD DELIVERED EXPENDITURE" ;                 
+label variable  HOUS05     "2005 HOUSING EXPENDITURE" ;                        
+label variable  MORT05     "2005 MORTGAGE EXPENDITURE" ;                       
+label variable  RENT05     "2005 RENT EXPENDITURE" ;                           
+label variable  PRPTAX05   "2005 PROPERTY TAX EXPENDITURE" ;                   
+label variable  HMEINS05   "2005 HOME INSURANCE EXPENDITURE" ;                 
+label variable  UTIL05     "2005 UTILITY EXPENDITURE" ;                        
+label variable  HEAT05     "2005 GAS FOR HOME EXPENDITURE" ;                   
+label variable  ELECTR05   "2005 ELECTRICITY EXPENDITURE" ;                    
+label variable  WATER05    "2005 WATER/SEWER EXPENDITURE" ;                    
+label variable  OUTIL05    "2005 OTHER UTILITY EXPENDITURE" ;                  
+label variable  TELINT05   "2005 TELEPHONE/INTERNET EXPENDITURE" ;             
+label variable  TRAN05     "2005 TRANSPORTATION EXPENDITURE" ;                 
+label variable  VEHLN05    "2005 VEHICLE LOAN PAYMENT EXPENDITURE" ;           
+label variable  VEHPAY05   "2005 VEHICLE DOWN PAYMENT EXPENDITURE" ;           
+label variable  VEHLS05    "2005 VEHICLE LEASE PAYMENT EXPENDITURE" ;          
+label variable  AUTOIN05   "2005 AUTO INSURANCE EXPENDITURE" ;                 
+label variable  VEHADD05   "2005 ADDITIONAL VEHICLE EXPENDITURE" ;             
+label variable  VEHREP05   "2005 VEHICLE REPAIR EXPENDITURE" ;                 
+label variable  GAS05      "2005 GASOLINE EXPENDITURE" ;                       
+label variable  PARK05     "2005 PARKING EXPENDITURE" ;                        
+label variable  BUS05      "2005 BUS/TRAIN EXPENDITURE" ;                      
+label variable  CAB05      "2005 TAXICAB EXPENDITURE" ;                        
+label variable  OTRAN05    "2005 OTHER TRANSPORTATION EXPENDITURE" ;           
+label variable  ED05       "2005 EDUCATION EXPENDITURE" ;                      
+label variable  CHILD05    "2005 CHILDCARE EXPENDITURE" ;                      
+label variable  HEALTH05   "2005 HEALTH CARE EXPENDITURE" ;                    
+label variable  HOS05      "2005 HOSPITAL/NURSING HOME EXPENDITURE" ;          
+label variable  DOCTOR05   "2005 DOCTOR EXPENDITURE" ;                         
+label variable  PRESCR05   "2005 PRESCRIPTIONS/OTHER EXPENDITURE" ;            
+label variable  HINS05     "2005 HEALTH INSURANCE EXPENDITURE" ;               
+label variable  HHREP05    "2005 HOUSEHOLD REPAIRS EXPENDITURE" ;              
+label variable  FURN05     "2005 HOUSEHOLD FURNISHING EXPENDITURE" ;           
+label variable  CLOTH05    "2005 CLOTHING EXPENDITURE" ;                       
+label variable  TRIPS05    "2005 TRIPS EXPENDITURE" ;                          
+label variable  OTHREC05   "2005 OTHER RECREATION EXPENDITURE" ;               

42/replication_package/data_replication/psid/raw_data/CON05.txt

@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:5e7b8355af6459f7928c868460a95d90b0af329f05790e438769a72e3b737fd9
+size 3184796

42/replication_package/data_replication/psid/raw_data/CON07.do

@@ -0,0 +1,69 @@
+
+#delimit ;
+
+**************************************************************************
+   Label           : 2007 Consumption File
+   Rows            : 8289
+   Columns         : 41
+   ASCII File Date : May 1, 2014
+*************************************************************************;
+
+
+infix 
+      REL07           1 - 1         CON07_ID        2 - 6         FOOD07          7 - 16   
+      FDHM07         17 - 26        FDOUT07        27 - 36        FDDEL07        37 - 46   
+      HOUS07         47 - 56        MORT07         57 - 66        RENT07         67 - 76   
+      PRPTAX07       77 - 86        HMEINS07       87 - 96        UTIL07         97 - 106  
+      HEAT07        107 - 116       ELECTR07      117 - 126       WATER07       127 - 136  
+      OUTIL07       137 - 146       TELINT07      147 - 156       TRAN07        157 - 166  
+      VEHLN07       167 - 176       VEHPAY07      177 - 186       VEHLS07       187 - 196  
+      AUTOIN07      197 - 206       VEHADD07      207 - 216       VEHREP07      217 - 226  
+      GAS07         227 - 236       PARK07        237 - 246       BUS07         247 - 256  
+      CAB07         257 - 266       OTRAN07       267 - 276       ED07          277 - 286  
+      CHILD07       287 - 296       HEALTH07      297 - 306       HOS07         307 - 316  
+      DOCTOR07      317 - 326       PRESCR07      327 - 336       HINS07        337 - 346  
+      HHREP07       347 - 356       FURN07        357 - 366       CLOTH07       367 - 376  
+      TRIPS07       377 - 386       OTHREC07      387 - 396  
+using CON07.txt, clear 
+;
+label variable  REL07      "2007 CONSUMPTION RELEASE NUMBER" ;                 
+label variable  CON07_ID   "2007 FAMILY INTERVIEW (ID) NUMBER" ;               
+label variable  FOOD07     "2007 FOOD EXPENDITURE" ;                           
+label variable  FDHM07     "2007 FOOD AT HOME EXPENDITURE" ;                   
+label variable  FDOUT07    "2007 FOOD AWAY FROM HOME EXPENDITURE" ;            
+label variable  FDDEL07    "2007 FOOD DELIVERED EXPENDITURE" ;                 
+label variable  HOUS07     "2007 HOUSING EXPENDITURE" ;                        
+label variable  MORT07     "2007 MORTGAGE EXPENDITURE" ;                       
+label variable  RENT07     "2007 RENT EXPENDITURE" ;                           
+label variable  PRPTAX07   "2007 PROPERTY TAX EXPENDITURE" ;                   
+label variable  HMEINS07   "2007 HOME INSURANCE EXPENDITURE" ;                 
+label variable  UTIL07     "2007 UTILITY EXPENDITURE" ;                        
+label variable  HEAT07     "2007 GAS FOR HOME EXPENDITURE" ;                   
+label variable  ELECTR07   "2007 ELECTRICITY EXPENDITURE" ;                    
+label variable  WATER07    "2007 WATER/SEWER EXPENDITURE" ;                    
+label variable  OUTIL07    "2007 OTHER UTILITY EXPENDITURE" ;                  
+label variable  TELINT07   "2007 TELEPHONE/INTERNET EXPENDITURE" ;             
+label variable  TRAN07     "2007 TRANSPORTATION EXPENDITURE" ;                 
+label variable  VEHLN07    "2007 VEHICLE LOAN PAYMENT EXPENDITURE" ;           
+label variable  VEHPAY07   "2007 VEHICLE DOWN PAYMENT EXPENDITURE" ;           
+label variable  VEHLS07    "2007 VEHICLE LEASE PAYMENT EXPENDITURE" ;          
+label variable  AUTOIN07   "2007 AUTO INSURANCE EXPENDITURE" ;                 
+label variable  VEHADD07   "2007 ADDITIONAL VEHICLE EXPENDITURE" ;             
+label variable  VEHREP07   "2007 VEHICLE REPAIR EXPENDITURE" ;                 
+label variable  GAS07      "2007 GASOLINE EXPENDITURE" ;                       
+label variable  PARK07     "2007 PARKING EXPENDITURE" ;                        
+label variable  BUS07      "2007 BUS/TRAIN EXPENDITURE" ;                      
+label variable  CAB07      "2007 TAXICAB EXPENDITURE" ;                        
+label variable  OTRAN07    "2007 OTHER TRANSPORTATION EXPENDITURE" ;           
+label variable  ED07       "2007 EDUCATION EXPENDITURE" ;                      
+label variable  CHILD07    "2007 CHILDCARE EXPENDITURE" ;                      
+label variable  HEALTH07   "2007 HEALTH CARE EXPENDITURE" ;                    
+label variable  HOS07      "2007 HOSPITAL/NURSING HOME EXPENDITURE" ;          
+label variable  DOCTOR07   "2007 DOCTOR EXPENDITURE" ;                         
+label variable  PRESCR07   "2007 PRESCRIPTIONS/OTHER EXPENDITURE" ;            
+label variable  HINS07     "2007 HEALTH INSURANCE EXPENDITURE" ;               
+label variable  HHREP07    "2007 HOUSEHOLD REPAIRS EXPENDITURE" ;              
+label variable  FURN07     "2007 HOUSEHOLD FURNISHING EXPENDITURE" ;           
+label variable  CLOTH07    "2007 CLOTHING EXPENDITURE" ;                       
+label variable  TRIPS07    "2007 TRIPS EXPENDITURE" ;                          
+label variable  OTHREC07   "2007 OTHER RECREATION EXPENDITURE" ;               

42/replication_package/data_replication/psid/raw_data/CON07.txt

@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:d1b9c71e4a8fd0b76ae6f84d39d0a5c9e582bc5e5bd1721b72d28b7f23c38fcc
+size 3299022

42/replication_package/data_replication/psid/raw_data/CON09.do

@@ -0,0 +1,69 @@
+
+#delimit ;
+
+**************************************************************************
+   Label           : 2009 Consumption File
+   Rows            : 8690
+   Columns         : 41
+   ASCII File Date : May 1, 2014
+*************************************************************************;
+
+
+infix 
+      REL09           1 - 1         CON09_ID        2 - 6         FOOD09          7 - 16   
+      FDHM09         17 - 26        FDOUT09        27 - 36        FDDEL09        37 - 46   
+      HOUS09         47 - 56        MORT09         57 - 66        RENT09         67 - 76   
+      PRPTAX09       77 - 86        HMEINS09       87 - 96        UTIL09         97 - 106  
+      HEAT09        107 - 116       ELECTR09      117 - 126       WATER09       127 - 136  
+      OUTIL09       137 - 146       TELINT09      147 - 156       TRAN09        157 - 166  
+      VEHLN09       167 - 176       VEHPAY09      177 - 186       VEHLS09       187 - 196  
+      AUTOIN09      197 - 206       VEHADD09      207 - 216       VEHREP09      217 - 226  
+      GAS09         227 - 236       PARK09        237 - 246       BUS09         247 - 256  
+      CAB09         257 - 266       OTRAN09       267 - 276       ED09          277 - 286  
+      CHILD09       287 - 296       HEALTH09      297 - 306       HOS09         307 - 316  
+      DOCTOR09      317 - 326       PRESCR09      327 - 336       HINS09        337 - 346  
+      HHREP09       347 - 356       FURN09        357 - 366       CLOTH09       367 - 376  
+      TRIPS09       377 - 386       OTHREC09      387 - 396  
+using CON09.txt, clear 
+;
+label variable  REL09      "2009 CONSUMPTION RELEASE NUMBER" ;                 
+label variable  CON09_ID   "2009 FAMILY INTERVIEW (ID) NUMBER" ;               
+label variable  FOOD09     "2009 FOOD EXPENDITURE" ;                           
+label variable  FDHM09     "2009 FOOD AT HOME EXPENDITURE" ;                   
+label variable  FDOUT09    "2009 FOOD AWAY FROM HOME EXPENDITURE" ;            
+label variable  FDDEL09    "2009 FOOD DELIVERED EXPENDITURE" ;                 
+label variable  HOUS09     "2009 HOUSING EXPENDITURE" ;                        
+label variable  MORT09     "2009 MORTGAGE EXPENDITURE" ;                       
+label variable  RENT09     "2009 RENT EXPENDITURE" ;                           
+label variable  PRPTAX09   "2009 PROPERTY TAX EXPENDITURE" ;                   
+label variable  HMEINS09   "2009 HOME INSURANCE EXPENDITURE" ;                 
+label variable  UTIL09     "2009 UTILITY EXPENDITURE" ;                        
+label variable  HEAT09     "2009 GAS FOR HOME EXPENDITURE" ;                   
+label variable  ELECTR09   "2009 ELECTRICITY EXPENDITURE" ;                    
+label variable  WATER09    "2009 WATER/SEWER EXPENDITURE" ;                    
+label variable  OUTIL09    "2009 OTHER UTILITY EXPENDITURE" ;                  
+label variable  TELINT09   "2009 TELEPHONE/INTERNET EXPENDITURE" ;             
+label variable  TRAN09     "2009 TRANSPORTATION EXPENDITURE" ;                 
+label variable  VEHLN09    "2009 VEHICLE LOAN PAYMENT EXPENDITURE" ;           
+label variable  VEHPAY09   "2009 VEHICLE DOWN PAYMENT EXPENDITURE" ;           
+label variable  VEHLS09    "2009 VEHICLE LEASE PAYMENT EXPENDITURE" ;          
+label variable  AUTOIN09   "2009 AUTO INSURANCE EXPENDITURE" ;                 
+label variable  VEHADD09   "2009 ADDITIONAL VEHICLE EXPENDITURE" ;             
+label variable  VEHREP09   "2009 VEHICLE REPAIR EXPENDITURE" ;                 
+label variable  GAS09      "2009 GASOLINE EXPENDITURE" ;                       
+label variable  PARK09     "2009 PARKING EXPENDITURE" ;                        
+label variable  BUS09      "2009 BUS/TRAIN EXPENDITURE" ;                      
+label variable  CAB09      "2009 TAXICAB EXPENDITURE" ;                        
+label variable  OTRAN09    "2009 OTHER TRANSPORTATION EXPENDITURE" ;           
+label variable  ED09       "2009 EDUCATION EXPENDITURE" ;                      
+label variable  CHILD09    "2009 CHILDCARE EXPENDITURE" ;                      
+label variable  HEALTH09   "2009 HEALTH CARE EXPENDITURE" ;                    
+label variable  HOS09      "2009 HOSPITAL/NURSING HOME EXPENDITURE" ;          
+label variable  DOCTOR09   "2009 DOCTOR EXPENDITURE" ;                         
+label variable  PRESCR09   "2009 PRESCRIPTIONS/OTHER EXPENDITURE" ;            
+label variable  HINS09     "2009 HEALTH INSURANCE EXPENDITURE" ;               
+label variable  HHREP09    "2009 HOUSEHOLD REPAIRS EXPENDITURE" ;              
+label variable  FURN09     "2009 HOUSEHOLD FURNISHING EXPENDITURE" ;           
+label variable  CLOTH09    "2009 CLOTHING EXPENDITURE" ;                       
+label variable  TRIPS09    "2009 TRIPS EXPENDITURE" ;                          
+label variable  OTHREC09   "2009 OTHER RECREATION EXPENDITURE" ;               

42/replication_package/data_replication/psid/raw_data/CON09.txt

@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:4e2962d44bb3dd1b5b2c398a4a72ae4d00b05e8f5f71bacf1337bc1bd29060a3
+size 3458620

42/replication_package/data_replication/psid/raw_data/CON11.do

@@ -0,0 +1,69 @@
+
+#delimit ;
+
+**************************************************************************
+   Label           : 2011 Consumption File
+   Rows            : 8907
+   Columns         : 41
+   ASCII File Date : May 1, 2014
+*************************************************************************;
+
+
+infix 
+      REL11           1 - 1         CON11_ID        2 - 6         FOOD11          7 - 16   
+      FDHM11         17 - 26        FDOUT11        27 - 36        FDDEL11        37 - 46   
+      HOUS11         47 - 56        MORT11         57 - 66        RENT11         67 - 76   
+      PRPTAX11       77 - 86        HMEINS11       87 - 96        UTIL11         97 - 106  
+      HEAT11        107 - 116       ELECTR11      117 - 126       WATER11       127 - 136  
+      OUTIL11       137 - 146       TELINT11      147 - 156       TRAN11        157 - 166  
+      VEHLN11       167 - 176       VEHPAY11      177 - 186       VEHLS11       187 - 196  
+      AUTOIN11      197 - 206       VEHADD11      207 - 216       VEHREP11      217 - 226  
+      GAS11         227 - 236       PARK11        237 - 246       BUS11         247 - 256  
+      CAB11         257 - 266       OTRAN11       267 - 276       ED11          277 - 286  
+      CHILD11       287 - 296       HEALTH11      297 - 306       HOS11         307 - 316  
+      DOCTOR11      317 - 326       PRESCR11      327 - 336       HINS11        337 - 346  
+      HHREP11       347 - 356       FURN11        357 - 366       CLOTH11       367 - 376  
+      TRIPS11       377 - 386       OTHREC11      387 - 396  
+using CON11.txt, clear 
+;
+label variable  REL11      "2011 CONSUMPTION RELEASE NUMBER" ;                 
+label variable  CON11_ID   "2011 FAMILY INTERVIEW (ID) NUMBER" ;               
+label variable  FOOD11     "2011 FOOD EXPENDITURE" ;                           
+label variable  FDHM11     "2011 FOOD AT HOME EXPENDITURE" ;                   
+label variable  FDOUT11    "2011 FOOD AWAY FROM HOME EXPENDITURE" ;            
+label variable  FDDEL11    "2011 FOOD DELIVERED EXPENDITURE" ;                 
+label variable  HOUS11     "2011 HOUSING EXPENDITURE" ;                        
+label variable  MORT11     "2011 MORTGAGE EXPENDITURE" ;                       
+label variable  RENT11     "2011 RENT EXPENDITURE" ;                           
+label variable  PRPTAX11   "2011 PROPERTY TAX EXPENDITURE" ;                   
+label variable  HMEINS11   "2011 HOME INSURANCE EXPENDITURE" ;                 
+label variable  UTIL11     "2011 UTILITY EXPENDITURE" ;                        
+label variable  HEAT11     "2011 GAS FOR HOME EXPENDITURE" ;                   
+label variable  ELECTR11   "2011 ELECTRICITY EXPENDITURE" ;                    
+label variable  WATER11    "2011 WATER/SEWER EXPENDITURE" ;                    
+label variable  OUTIL11    "2011 OTHER UTILITY EXPENDITURE" ;                  
+label variable  TELINT11   "2011 TELEPHONE/INTERNET EXPENDITURE" ;             
+label variable  TRAN11     "2011 TRANSPORTATION EXPENDITURE" ;                 
+label variable  VEHLN11    "2011 VEHICLE LOAN PAYMENT EXPENDITURE" ;           
+label variable  VEHPAY11   "2011 VEHICLE DOWN PAYMENT EXPENDITURE" ;           
+label variable  VEHLS11    "2011 VEHICLE LEASE PAYMENT EXPENDITURE" ;          
+label variable  AUTOIN11   "2011 AUTO INSURANCE EXPENDITURE" ;                 
+label variable  VEHADD11   "2011 ADDITIONAL VEHICLE EXPENDITURE" ;             
+label variable  VEHREP11   "2011 VEHICLE REPAIR EXPENDITURE" ;                 
+label variable  GAS11      "2011 GASOLINE EXPENDITURE" ;                       
+label variable  PARK11     "2011 PARKING EXPENDITURE" ;                        
+label variable  BUS11      "2011 BUS/TRAIN EXPENDITURE" ;                      
+label variable  CAB11      "2011 TAXICAB EXPENDITURE" ;                        
+label variable  OTRAN11    "2011 OTHER TRANSPORTATION EXPENDITURE" ;           
+label variable  ED11       "2011 EDUCATION EXPENDITURE" ;                      
+label variable  CHILD11    "2011 CHILDCARE EXPENDITURE" ;                      
+label variable  HEALTH11   "2011 HEALTH CARE EXPENDITURE" ;                    
+label variable  HOS11      "2011 HOSPITAL/NURSING HOME EXPENDITURE" ;          
+label variable  DOCTOR11   "2011 DOCTOR EXPENDITURE" ;                         
+label variable  PRESCR11   "2011 PRESCRIPTIONS/OTHER EXPENDITURE" ;            
+label variable  HINS11     "2011 HEALTH INSURANCE EXPENDITURE" ;               
+label variable  HHREP11    "2011 HOUSEHOLD REPAIRS EXPENDITURE" ;              
+label variable  FURN11     "2011 HOUSEHOLD FURNISHING EXPENDITURE" ;           
+label variable  CLOTH11    "2011 CLOTHING EXPENDITURE" ;                       
+label variable  TRIPS11    "2011 TRIPS EXPENDITURE" ;                          
+label variable  OTHREC11   "2011 OTHER RECREATION EXPENDITURE" ;               

42/replication_package/data_replication/psid/raw_data/CON11.txt

@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:838a53f160778f31bd2ddd8ee3f14dc9ee0936127bfdc3b0f66130f34d5f0b46
+size 3544986

42/replication_package/data_replication/psid/raw_data/CON99.do

@@ -0,0 +1,61 @@
+
+#delimit ;
+
+**************************************************************************
+   Label           : Consumption 1999
+   Rows            : 6997
+   Columns         : 35
+   ASCII File Date : May 1, 2014
+*************************************************************************;
+
+
+infix 
+      REL99           1 - 1         CON99_ID        2 - 6         FOOD99          7 - 16   
+      FDHM99         17 - 26        FDOUT99        27 - 36        FDDEL99        37 - 46   
+      HOUS99         47 - 56        MORT99         57 - 66        RENT99         67 - 76   
+      PRPTAX99       77 - 86        HMEINS99       87 - 96        UTIL99         97 - 106  
+      HEAT99        107 - 116       ELECTR99      117 - 126       WATER99       127 - 136  
+      OUTIL99       137 - 146       TRAN99        147 - 156       VEHLN99       157 - 166  
+      VEHPAY99      167 - 176       VEHLS99       177 - 186       AUTOIN99      187 - 196  
+      VEHADD99      197 - 206       VEHREP99      207 - 216       GAS99         217 - 226  
+      PARK99        227 - 236       BUS99         237 - 246       CAB99         247 - 256  
+      OTRAN99       257 - 266       ED99          267 - 276       CHILD99       277 - 286  
+      HEALTH99      287 - 296       HOS99         297 - 306       DOCTOR99      307 - 316  
+      PRESCR99      317 - 326       HINS99        327 - 336  
+using CON99.txt, clear 
+;
+label variable  REL99      "1999 CONSUMPTION RELEASE NUMBER" ;                 
+label variable  CON99_ID   "1999 FAMILY INTERVIEW (ID) NUMBER" ;               
+label variable  FOOD99     "1999 FOOD EXPENDITURE" ;                           
+label variable  FDHM99     "1999 FOOD AT HOME EXPENDITURE" ;                   
+label variable  FDOUT99    "1999 FOOD AWAY FROM HOME EXPENDITURE" ;            
+label variable  FDDEL99    "1999 FOOD DELIVERED EXPENDITURE" ;                 
+label variable  HOUS99     "1999 HOUSING EXPENDITURE" ;                        
+label variable  MORT99     "1999 MORTGAGE EXPENDITURE" ;                       
+label variable  RENT99     "1999 RENT EXPENDITURE" ;                           
+label variable  PRPTAX99   "1999 PROPERTY TAX EXPENDITURE" ;                   
+label variable  HMEINS99   "1999 HOME INSURANCE EXPENDITURE" ;                 
+label variable  UTIL99     "1999 UTILITY EXPENDITURE" ;                        
+label variable  HEAT99     "1999 GAS FOR HOME EXPENDITURE" ;                   
+label variable  ELECTR99   "1999 ELECTRICITY EXPENDITURE" ;                    
+label variable  WATER99    "1999 WATER/SEWER EXPENDITURE" ;                    
+label variable  OUTIL99    "1999 OTHER UTILITY EXPENDITURE" ;                  
+label variable  TRAN99     "1999 TRANSPORTATION EXPENDITURE" ;                 
+label variable  VEHLN99    "1999 VEHICLE LOAN PAYMENT EXPENDITURE" ;           
+label variable  VEHPAY99   "1999 VEHICLE DOWN PAYMENT EXPENDITURE" ;           
+label variable  VEHLS99    "1999 VEHICLE LEASE PAYMENT EXPENDITURE" ;          
+label variable  AUTOIN99   "1999 AUTO INSURANCE EXPENDITURE" ;                 
+label variable  VEHADD99   "1999 ADDITIONAL VEHICLE EXPENDITURE" ;             
+label variable  VEHREP99   "1999 VEHICLE REPAIR EXPENDITURE" ;                 
+label variable  GAS99      "1999 GASOLINE EXPENDITURE" ;                       
+label variable  PARK99     "1999 PARKING EXPENDITURE" ;                        
+label variable  BUS99      "1999 BUS/TRAIN EXPENDITURE" ;                      
+label variable  CAB99      "1999 TAXICAB EXPENDITURE" ;                        
+label variable  OTRAN99    "1999 OTHER TRANSPORTATION EXPENDITURE" ;           
+label variable  ED99       "1999 EDUCATION EXPENDITURE" ;                      
+label variable  CHILD99    "1999 CHILDCARE EXPENDITURE" ;                      
+label variable  HEALTH99   "1999 HEALTH CARE EXPENDITURE" ;                    
+label variable  HOS99      "1999 HOSPITAL/NURSING HOME EXPENDITURE" ;          
+label variable  DOCTOR99   "1999 DOCTOR EXPENDITURE" ;                         
+label variable  PRESCR99   "1999 PRESCRIPTIONS/OTHER EXPENDITURE" ;            
+label variable  HINS99     "1999 HEALTH INSURANCE EXPENDITURE" ;               

42/replication_package/data_replication/psid/raw_data/CON99.txt

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42/replication_package/data_replication/psid/raw_data/FAM1999ER.txt

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