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Consequences and Predictors of New Health Events

In: Analyses in the Economics of Aging

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  • James Smith

Abstract

Smith uses the HRS and AHEAD panels to examine the consequences of new health on a series of SES related outcomes- out-of-pocket labor supply, labor force activity, household income and wealth. For each of these outcomes, new severe health events have a significant effect although most of the impact on income and wealth takes place through labor supply and not not medical expenses. The paper also examines the ability of different measures of SES to predict the future onset of disease. The author finds no predictive effect of income or wealth but education does predict future onset even after controlling for current health status. The reasons for this continuing predictive effect of education are explored in the paper.
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Suggested Citation

  • James Smith, 2005. "Consequences and Predictors of New Health Events," NBER Chapters,in: Analyses in the Economics of Aging, pages 213-240 National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberch:10362
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    References listed on IDEAS

    as
    1. Angus Deaton, 2003. "Health, Inequality, and Economic Development," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 113-158, March.
    2. repec:pri:cheawb:case_paxson_economic_status_paper is not listed on IDEAS
    3. Dana P. Goldman & James P. Smith, 2004. "Can Patient Self-Management Help Explain the SES Health Gradient?," HEW 0403004, EconWPA.
    4. Anne Case & Darren Lubotsky & Christina Paxson, 2002. "Economic Status and Health in Childhood: The Origins of the Gradient," American Economic Review, American Economic Association, vol. 92(5), pages 1308-1334, December.
    5. James Smith & Raynard Kington, 1997. "Demographic and economic correlates of health in old age," Demography, Springer;Population Association of America (PAA), vol. 34(1), pages 159-170, February.
    6. repec:pri:cheawb:case_paxson_economic_status_paper.pdf is not listed on IDEAS
    7. James P. Smith, 2004. "Why is Wealth Inequality Rising?," Macroeconomics 0402012, EconWPA.
    8. Peter Adams & Michael D. Hurd & Daniel L. McFadden & Angela Merrill & Tiago Ribeiro, 2004. "Healthy, Wealthy, and Wise? Tests for Direct Causal Paths between Health and Socioeconomic Status," NBER Chapters,in: Perspectives on the Economics of Aging, pages 415-526 National Bureau of Economic Research, Inc.
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    JEL classification:

    • I0 - Health, Education, and Welfare - - General

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