The objective of the subproject on Wealth, Health, and Differential Mortality is to investigate the dynamics of wealth, health status, and mortality risk It will examine four (not necessarily exclusive) hypotheses about the correlation between wealth and mortality risk:L [1] Poor health causes low wealth, via current and cumulative medical expenditures and lost earning opportunities; [2] Low wealth causes poor health, but to limitations on the availability or utilization of medical care; [3] Low wealth is associated with myopic behavior that both limits saving and increases exposure to risk factors, such as smoking, which cause poor health; and [4] Individuals have private information on their robustness, which is heterogeneous in the population, and individuals who on average live longer also accumulate more to optimize their lifecycle consumption. The subproject will use newly available panel data from the Survey of Income and Program Participation (SIPP), the Panel Study of Income Dynamics (PSID), the Health and Retirement Survey (HRS), and the Survey of the Asset and Health Dynamics Among the Oldest-old (AHEAD).
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