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Household Saving, Health, and Healthcare Utilisation in Japan

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  • Alzuabi, Raslan
  • Brown, Sarah
  • Gray, Daniel
  • Harris, Mark N.
  • Spencer, Christopher

Abstract

The impact of health and healthcare utilisation on household savings and financial portfolios is explored using data from the Japanese Household Panel Survey (JHPS) and he Keio Household Panel Survey (KHPS). Whereas poor physical health is associated with higher savings and larger financial portfolios, poor mental health is found to have the opposite effects. Hospital visits, hospitalisation, and screening are associated with greater savings and larger financial portfolios. We also explore how the share of savings expressed as a proportion of total financial assets is affected by our health measures. We find that portfolio re-balancing effects associated with our health measures are outweighed by pure 'size' effects, in that our health measures affect the total value of a household's financial portfolio and its components (i.e., savings and securities), but not its overall composition.

Suggested Citation

  • Alzuabi, Raslan & Brown, Sarah & Gray, Daniel & Harris, Mark N. & Spencer, Christopher, 2019. "Household Saving, Health, and Healthcare Utilisation in Japan," CEI Working Paper Series 2018-17, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hitcei:2018-17
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    1. Yoko Mimura, 2023. "Save Today for a Happier Tomorrow: Associations Between Happiness and Financial Preparation in Japan," Journal of Happiness Studies, Springer, vol. 24(3), pages 1261-1281, March.

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    More about this item

    Keywords

    Asset Allocation; Censored Quantile Regressions; Fractional Models; Health and Healthcare Utilization; Savings and Financial Assets; Tobit Model;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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