Health and the Decision to Invest in Education

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Health and the Decision to Invest in Education

Author Info

Brit S. Schneider () (University of Bayreuth)
Udo Schneider () (University of Bayreuth)
Volker Ulrich () (University of Bayreuth)

Additional information is available for the following registered author(s):

Udo Schneider

Abstract

The paper analyses the relationship between health and education in a two period human capital framework. The resulting substitution and investment effects between health and advanced training work in opposite direction and leave open questions for the empirical part. As econometric model we use a random effects probit model for panel date. Our data consist of 322 individuals for the two years 2004 and 2006. Thereby, we take into account that self-reported measures of health are usually vulnerable to a reporting bias due to anticipation and measurement errors. Estimation results show a dominant substitution effect between different levels of education, indicating that good health implies higher learning efficiency so that the same income can be achieved with lower investment in advanced training. In contrast, we find a dominant investment effect within an educational level, indicating that better health leads individuals with higher education to invest more in additional training.

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Publisher Info
Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.

Volume (Year): 227 (2007)
Issue (Month): 5-6 (December)
Pages: 725-745
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Handle: RePEc:jns:jbstat:v:227:y:2007:i:5+6:p:725-745

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Web page: http://wiwi.uni-giessen.de/home/oekonometrie/Jahrbuecher/
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Find related papers by JEL classification:
I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
I10 - Health, Education, and Welfare - - Health - - - General
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data

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