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Inheritances, Health and Death

  • Beomsoo Kim

    ()

    (Department of Economics, Korea University, Seoul, South Korea)

  • Christopher J. Ruhm

    ()

    (University of North Carolina Greensboro and National Bureau of Economic Research)

We examine how wealth shocks, in the form of inheritances, affect the mortality rates, health status and health behaviors of older adults, using data from eight waves of the Health and Retirement Survey (HRS). Our main finding is that bequests do not have substantial effects on health status, although some improvements in quality-of-life are possible. This absence occurs despite increases in out-of-pocket (OOP) spending on health care and in the utilization of medical services, especially discretionary and non-lifesaving types such as dental care. Nor can we find a convincing indication of changes in lifestyles that offset the benefits of increased medical care. Inheritances are associated with higher alcohol consumption, but with no change in smoking or exercise and a possible decrease in obesity.

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Paper provided by Institute of Economic Research, Korea University in its series Discussion Paper Series with number 1001.

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Date of creation: 2010
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Handle: RePEc:iek:wpaper:1001
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