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Do Stock Market Fluctuations Affect Suicide Rates?

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  • Tomasz Piotr Wisniewski
  • Brendan John Lambe
  • Keshab Shrestha

Abstract

In this study, we extend the standard economic model of suicide by considering a new influential factor driving the voluntary death rate. Using an international sample, we estimate the model and document a robust and significant inverse relation between stock market returns and the percentage increase in suicide rates. Trends in male and female suicide are affected by market fluctuations, both contemporaneously and at a lag. This predictive quality of stock returns offers the potential to implement pro‐active suicide prevention strategies for those who could be affected by the vagaries of the market and general economic downturns.

Suggested Citation

  • Tomasz Piotr Wisniewski & Brendan John Lambe & Keshab Shrestha, 2020. "Do Stock Market Fluctuations Affect Suicide Rates?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 43(4), pages 737-765, December.
    • Handle: RePEc:bla:jfnres:v:43:y:2020:i:4:p:737-765
    DOI: 10.1111/jfir.12224
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    2. Lepori, Gabriele M. & Morgan, Sara & Assarian, Borna A. & Mishra, Tapas, 2024. "Economic activity and suicides: Causal evidence from macroeconomic shocks in England and Wales," Social Science & Medicine, Elsevier, vol. 342(C).

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