(b) Male sole white-collar wage earner head households with bonus receipts in the regular bonus months (Narrowly-defined sample)

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Note: All regressions are estimated by OLS and include the nominal interest rate and relative price changes as control variables. Numbers in the parentheses are robust standard errors. $ ^{***} $ , $ ^{**} $ , and $ ^{*} $ denote significance at the 1%, 5%, and 10% level respectively.