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Healthy, Wealthy, and Knowing Where to Live: Predicted Trajectories of Health, Wealth and Living Arrangements Among the Oldest Old

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  • Florian Heiss
  • Michael Hurd
  • Axel Borsch-Supan

Abstract

Health, wealth and where one lives are important, if not the three most important material living conditions. There are many mechanisms that suggest that living arrangements and well-being derived from health and economic status are closely related. This paper investigates the joint evolution of the three conditions, using a microeconometric approach similar to what is known as vector autoregressions' (VAR) in the macroeconomics literature.

Suggested Citation

  • Florian Heiss & Michael Hurd & Axel Borsch-Supan, 2003. "Healthy, Wealthy, and Knowing Where to Live: Predicted Trajectories of Health, Wealth and Living Arrangements Among the Oldest Old," NBER Working Papers 9897, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:9897
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    References listed on IDEAS

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    3. Kathleen McGarry & Robert F. Schoeni, 1998. "Social Security, Economic Growth, and the Rise in Independence of Elderly Widows in the 20th Century," NBER Working Papers 6511, National Bureau of Economic Research, Inc.
    4. James P. Smith, 2004. "Wealth Inequality Among Older Americans," Labor and Demography 0403003, EconWPA.
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    6. Chunrong Ai & Jonathan Feinstein & Daniel L. McFadden & Henry Pollakowski, 1990. "The Dynamics of Housing Demand by the Elderly: User Cost Effects," NBER Chapters,in: Issues in the Economics of Aging, pages 33-88 National Bureau of Economic Research, Inc.
    7. Donald Cox & Fredric Raines, 1985. "Interfamily Transfers and Income Redistribution," NBER Chapters,in: Horizontal Equity, Uncertainty, and Economic Well-Being, pages 393-426 National Bureau of Economic Research, Inc.
    8. Axel Borsch-Supan & Daniel L. McFadden & Reinhold Schnabel, 1996. "Living Arrangements: Health and Wealth Effects," NBER Chapters,in: Advances in the Economics of Aging, pages 193-216 National Bureau of Economic Research, Inc.
    9. Costa, Dora L., 1999. "A house of her own: old age assistance and the living arrangements of older nonmarried women," Journal of Public Economics, Elsevier, vol. 72(1), pages 39-59, April.
    10. Michael Hurd & James P. Smith, 2002. "Expected Bequests and Their Distribution," NBER Working Papers 9142, National Bureau of Economic Research, Inc.
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    Citations

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    Cited by:

    1. Matteo Lippi Bruni & Cristina Ugolini, 2016. "Delegating home care for the elderly to external caregivers? An empirical study on Italian data," Review of Economics of the Household, Springer, vol. 14(1), pages 155-183, March.
    2. Jan Rouwendal, 2009. "Housing Wealth and Household Portfolios in an Ageing Society," De Economist, Springer, vol. 157(1), pages 1-48, March.
    3. Elisabetta Santarelli & Anna De Pascale, "undated". "Economic, housing conditions and health of old people in Italy: evidence from EU-SILC," Working Papers 99/12, Sapienza University of Rome, Metodi e modelli per l'economia, il territorio e la finanza MEMOTEF.
    4. Benoit Dostie & Pierre Thomas Léger, 2005. "The Living Arrangement Dynamics of Sick, Elderly Individuals," Journal of Human Resources, University of Wisconsin Press, vol. 40(4), pages 989-1014.
    5. Bonnet, Carole & Gobillon, Laurent & Laferrère, Anne, 2010. "The effect of widowhood on housing and location choices," Journal of Housing Economics, Elsevier, vol. 19(2), pages 94-108, June.
    6. Engelhardt, Gary V. & Greenhalgh-Stanley, Nadia, 2010. "Home health care and the housing and living arrangements of the elderly," Journal of Urban Economics, Elsevier, vol. 67(2), pages 226-238, March.
    7. Michael D. Hurd & Pierre-Carl Michaud & Susann Rohwedder, 2008. "Using International Micro Data to Learn about Individuals' Responses to Changes in Social Insurance," Working Papers 626, RAND Corporation.
    8. Halliday Timothy, 2011. "Health Inequality over the Life-Cycle," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(3), pages 1-21, October.
    9. Matteo Lippi Bruni & Cristina Ugolini, 2006. "Assistenza a domicilio e assistenza residenziale: politiche di intervento e analisi empirica," Rivista italiana degli economisti, Società editrice il Mulino, issue 2, pages 241-268.
    10. Päivi Kankaanranta, 2006. "Consumption Over the Life Cycle: A Selected Literature Review," Discussion Papers 7, Aboa Centre for Economics.

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    JEL classification:

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

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