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The effect of the economic collapse in Iceland on the probability of cardiovascular events

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  • Birgisdóttir, Kristín Helga
  • Hauksdóttir, Arna
  • Ruhm, Christopher
  • Valdimarsdóttir, Unnur Anna
  • Ásgeirsdóttir, Tinna Laufey

Abstract

After several years of a booming economy in Iceland, the economic bubble burst in 2008 and affected most Icelanders in one way or another. We explore whether the economic collapse in 2008 and subsequent economic crisis affected the probability of ischemic heart disease (IHD) events, independent of regular cyclical effects that can be attributed to typical economic conditions. Moreover, we conduct a mediation analysis to study the potential mechanisms through which the relationship between the economic collapse and cardiovascular health travels. We estimate linear probability models using administrative data on IHD events, earnings and balance-sheet status, as well as unemployment for all Icelanders aged 16 and older in 2000–2014.

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  • Birgisdóttir, Kristín Helga & Hauksdóttir, Arna & Ruhm, Christopher & Valdimarsdóttir, Unnur Anna & Ásgeirsdóttir, Tinna Laufey, 2020. "The effect of the economic collapse in Iceland on the probability of cardiovascular events," Economics & Human Biology, Elsevier, vol. 37(C).
    • Handle: RePEc:eee:ehbiol:v:37:y:2020:i:c:s1570677x18303150
    DOI: 10.1016/j.ehb.2020.100861
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    More about this item

    Keywords

    Iceland; Economic conditions; Economic collapse; Business cycles; Cardiovascular diseases;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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