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Liquidity, Activity, Mortality

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Author Info
William N. Evans
Timothy J. Moore
Abstract

We document a within-month mortality cycle where deaths decline before the 1st day of the month and then spike after the 1st. This cycle is present across a wide variety of causes and demographic groups. A similar cycle exists for a range of activities, suggesting the mortality cycle may be due to short-term variation in levels of activity. We provide evidence that the within-month activity cycle is generated by liquidity. Our results suggest a causal pathway whereby liquidity problems reduce activity, which in turn reduces mortality. These relationships help explain the pro-cyclic nature of mortality.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 15310.

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Date of creation: Sep 2009
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Handle: RePEc:nbr:nberwo:15310

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Find related papers by JEL classification:
D10 - Microeconomics - - Household Behavior - - - General
D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
I10 - Health, Education, and Welfare - - Health - - - General
I12 - Health, Education, and Welfare - - Health - - - Health Production
I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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This page was last updated on 2009-11-25.

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