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Health Inequality over the Life-Cycle

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  • Timothy Halliday

    ()
    (Department of Economics, University of Hawaii at Manoa)

Abstract

We consider the covariance structure of health. Agents report their health status on the basis of a latent health stock that is determined by permanent and transitory shocks, and time invariant fixed effects. At age 25, permanent shocks account for 5% to 10% of the variation in health. At age 60, this percentage rise to between 60% and 80%. We document a gradient in which permanent shocks matter less for college-educated people and for women.

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File URL: http://www.economics.hawaii.edu/research/workingpapers/WP_11-8.pdf
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Bibliographic Info

Paper provided by University of Hawaii at Manoa, Department of Economics in its series Working Papers with number 201108.

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Length: 34 pages
Date of creation: 20 Jun 2011
Date of revision:
Handle: RePEc:hai:wpaper:201108

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Keywords: health; dynamic panel data models; variance decomposition;

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  1. Abowd, John M & Card, David, 1989. "On the Covariance Structure of Earnings and Hours Changes," Econometrica, Econometric Society, vol. 57(2), pages 411-45, March.
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  6. Primiceri, Giorgio E. & van Rens, Thijs, 2006. "Heterogenous Life-Cycle Profiles, Income Risk and Consumption Inequality," CEPR Discussion Papers 5881, C.E.P.R. Discussion Papers.
  7. Timothy J Halliday, 2005. "Heterogeneity, State Dependence and Health," Working Papers 200503, University of Hawaii at Manoa, Department of Economics.
  8. Adda, Jérôme & Banks, James & Gaudecker, Hans-Martin von, 2008. "The Impact of Income Shocks on Health: Evidence from Cohort Data," IZA Discussion Papers 3329, Institute for the Study of Labor (IZA).
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  11. Timothy J. Halliday, 2006. "Testing for State Dependence with Time-Variant Transition Probabilities," Working Papers 200614, University of Hawaii at Manoa, Department of Economics.
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  15. Grossman, Michael, 1972. "On the Concept of Health Capital and the Demand for Health," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 223-55, March-Apr.
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  18. Dean R. Hyslop, 1999. "State Dependence, Serial Correlation and Heterogeneity in Intertemporal Labor Force Participation of Married Women," Econometrica, Econometric Society, vol. 67(6), pages 1255-1294, November.
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  21. Steven Stern, 1997. "Simulation-Based Estimation," Journal of Economic Literature, American Economic Association, vol. 35(4), pages 2006-2039, December.
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