A Longitudinal Analysis of the Impact of Health Shocks on the Wealth of Elders

TitleA Longitudinal Analysis of the Impact of Health Shocks on the Wealth of Elders
Publication TypeJournal Article
Year of Publication2008
AuthorsLee, J, Kim, H
JournalJournal of Population Economics
Volume21
Issue1
Pagination217-30
Call Numbernewpubs20080229_fulltext.pdf
KeywordsDemographics, Health Conditions and Status, Net Worth and Assets
Abstract

We investigate the impact of health shocks on wealth, using all four waves of the Health and Retirement Study, and estimate not only the short-term effect but also the long-term effect of health shocks on wealth of the elderly. We find that new health events lower wealth in elders during the period in which such health shocks occur, but the impact tends to disappear over time. We also find that health shocks result in greater wealth depletion when they occur later in life. Together with existing health problems, the overall impact of health problems on wealth increases over time.

Endnote Keywords

Elderly/Health Shocks/Wealth

Endnote ID

18510

Citation Key7195