@article {7195,
	title = {A Longitudinal Analysis of the Impact of Health Shocks on the Wealth of Elders},
	journal = {Journal of Population Economics},
	volume = {21},
	year = {2008},
	pages = {217-230},
	publisher = {21},
	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.},
	keywords = {Demographics, Health Conditions and Status, Net Worth and Assets},
	doi = {https://doi.org/10.1007/s00148-007-0156-5},
	author = {Jinkook Lee and Hyungsoo Kim}
}
@article {7104,
	title = {The Impact of Comorbidity on Wealth Changes in Later Life},
	journal = {Journals of Gerontology, Series B: Psychological Sciences and Social Sciences},
	volume = {61B},
	year = {2006},
	pages = {S307},
	publisher = {61B},
	abstract = {Despite the high prevalence of comorbidity in later life, scientists do not fully understand its financial impact. The objective of this study was to enhance researchers{\textquoteright} understanding of the impact of compounded health problems on the wealth of older people. Using data from the Asset and Health Dynamics Among the Oldest Old study (1995 to 2002 waves), we conducted ordinary least squares regression analysis on wealth changes. We found that comorbidity leads to significant wealth depletion in later life, especially for single elders. Single elders with comorbidity depleted 20  to 22  of their wealth over a 2- to 3-year time period, especially those with the combination of heart disease and diabetes. The impact of comorbidity was disproportionately greater than the estimated impact of a single health problem. However, the impact of comorbidity did not appear to be significant among married people. We found that compounded health problems also create compounded financial problems in later life. For an accurate estimation of the financial consequences of health problems, it is important to consider comorbid health problems, as the effect of comorbidity is not equal to the sum of the effects of single health problems.},
	keywords = {Demographics, Healthcare, Net Worth and Assets},
	url = {http://psychsoc.gerontologyjournals.org/},
	author = {Hyungsoo Kim and Jinkook Lee}
}
@article {6857,
	title = {An Examination of the Impact of Health on Wealth Depletion of the Elderly},
	journal = {The Journals of Gerontology: Social Sciences},
	volume = {58B},
	year = {2003},
	pages = {S120-126},
	publisher = {58B},
	abstract = {Objectives. This study investigates the effects of new health events and existing health conditions on wealth depletion in elderly individuals. Methods. A model deriving from life-cycle theory is proposed and estimated using Waves 1 and 2 of the Asset and Health Dynamics of the Oldest Old (AHEAD) data set. Results. Both new health events and existing health conditions significantly influence wealth depletion of elders, but their impacts differ across marital status. Whereas an occurrence of new health events brought wealth depletion of elders in married households, having existing chronic health conditions was associated with wealth depletion of elders in single households. Discussion. Poor health, both a new health event and existing chronic conditions, leads to considerable wealth depletion in elderly individuals. Considering the significant impacts of health on wealth, the public needs to be better informed of potential health events in later life and the associated financial burden. Additional health insurance plays an important role in preventing elders from financial hardship.},
	keywords = {Demographics, Healthcare, Net Worth and Assets},
	url = {http://psychsoc.gerontologyjournals.org/},
	author = {Jinkook Lee and Hyungsoo Kim}
}
