Download or read book Household Portfolio Choices Health Status and Health Care Systems written by Vincenzo Atella and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Health risk is increasingly viewed as an important form of background risk that affects household portfolio decisions. However, its role might be mediated by the presence of a protective full-coverage National Health System that could reduce households' probability of incurring current and future out-of-pocket medical expenditures. In this paper, the authors first sketch a theoretical framework in which household portfolio decisions are a function of both individual and systemic characteristics. Then, they test its main implications based on SHARE data, studying the influence of current health status and future health risk on the decision to hold risky assets, across 10 European countries with different health care systems, each offering a different degree of protection against out-of-pocket medical expenditures. They find robust empirical confirmation of their model implications, since perceived health condition matters more than objective health condition and, consistent with the theoretical underpinnings of background risk, health risk affects portfolio choices only in countries with less protective healthcare systems. Furthermore, portfolio decisions consistent with background risk models are observed only with respect to middle-aged and highly-educated investors.
Download or read book Portfolio Choice and Health Status written by Harvey S. Rosen and published by . This book was released on 2003 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the role that health status plays in household portfolio decisions using data from the Health and Retirement Study. The results indicate that health is a significant predictor of both the probability of owning different types of financial assets and the share of financial wealth held in each asset category. Households in poor health are less likely to hold risky financial assets, other things (including the level of total wealth) being the same. Poor health is associated with a smaller share of financial wealth held in risky assets and a larger share in safe assets. We find no evidence that the relationship between health status and portfolio allocation is driven by third variables' that simultaneously affect health and financial decisions. Further, the relationship between health status and portfolio choice does not appear to operate through the effect of poor health on individuals' attitudes toward risk, their planning horizons, or their health insurance status
Download or read book Public Health Insurance and Household Portfolio Choices written by Marco Angrisani and published by . This book was released on 2017 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large, unpredictable and not fully insurable health-care costs represent a source of background risk that might deter households' financial risk taking. Using panel data from the Health and Retirement Study and fixed-effects estimation, we test whether universal health insurance, like Medicare for over-65 Americans, shields against this risk promoting stockholding. Households in poor health, who face a higher risk of medical expenses, are less likely to hold stocks than their healthier counterparts. Yet, this gap is mostly eliminated by Medicare eligibility. Notably, the offsetting is primarily experienced by households without private health insurance over the observation period.
Download or read book Medical Expenditure and Household Portfolio Choice written by Dana Paul Goldman and published by . This book was released on 2005 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book User Psychology and Behavior Regarding Healthcare IT written by Xiaofei Zhang and published by Frontiers Media SA. This book was released on 2022-12-06 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Measures with Applications in Finance and Economics written by Michael McAleer and published by MDPI. This book was released on 2019-07-23 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk measures play a vital role in many subfields of economics and finance. It has been proposed that risk measures could be analysed in relation to the performance of variables extracted from empirical real-world data. For example, risk measures may help inform effective monetary and fiscal policies and, therefore, the further development of pricing models for financial assets such as equities, bonds, currencies, and derivative securities.
Download or read book Research on Pandemics written by Yezhou Sha and published by Taylor & Francis. This book was released on 2021-11-24 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lasting turmoil associated with the unprecedented pandemic, triggered by the novel corona virus COVID-19, has dragged the world into a mud of uncertainty. Fiscal stimulation, interest rate cuts, global supply-chain redeployment, "pandemic bond" and circuit breakers kicked in and the world is responding to this great challenge. But how can finance and economic research help the world under such circumstances? This book dwells on this new area of research and tries to understand how pandemics impact the economic and financial ecosystem of both emerging and advanced economies. Lessons learnt from the experience of previous pandemics maybe presented and discussed through drawing on policy lessons to date. By gathering research on political economy, geopolitical issues, behavioral finance, international institutional responses and medical and health issues resulting from pandemics, the chapters in this edited volume help in expanding the knowledge of social and economic consequences of the pandemic as well as set the foundation for future research. This book would benefit scholars, policy makers and entrepreneurs worldwide as a valuable archive of research on pandemics. The chapters in this book were originally published as a special issue of Emerging Markets Finance and Trade.
Download or read book How Elderly Households Allocate Their Assets written by Zhong Jin and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between portfolio allocation decisions and out-of-pocket healthcare expenses of elderly U.S. households. More specifically, it analyzes the impact of increasing healthcare costs on households' assets allocation decisions between 1992 and 2006. Controlling for heterogeneity in intra-household risk preferences, I also examine if the heterogeneous individual risk preferences influence how households collectively make portfolio allocation decisions responding to health risks. Empirical results show that the volatility of the medical expense reduces the investment in risky financial assets. Out-of-pocket medical expenses, after controlling for the wealth and under the constraint of shares of all assets adding to one, increase a household's share of risky financial assets. Heterogeneity in intra-household risk preferences does not significantly impact how households make portfolio allocation decisions among financial assets.
Download or read book The Effect of Business Cycles on Population Health in the Emerging Economies Volume II written by Wen-Yi Chen and published by Frontiers Media SA. This book was released on 2022-02-03 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of the Economics of Population Aging written by John Piggott and published by Elsevier. This book was released on 2016-11-21 with total page 1146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource Presents diverse perspectives on subjects that can be closely associated with national and regional concerns Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging
Download or read book ESSAYS ON PORTFOLIO CHOICE AND HEALTH OVER THE LIFE CYCLE written by You Du and published by . This book was released on 2021 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines the effect of health and its associated variables on households' consumption and portfolio choices over life cycle. The first two essays constitute my job market paper, which explains why the risky portfolio share rises in wealth from two health mechanisms: endogenous health investment and medical expenditure risk. The third chapter explores the effect of health and health risk on households' optimal consumption and portfolio decisions over life cycle. Chapter 1 titled ``PORTFOLIO CHOICE AND HEALTH ACROSS WEALTH: EMPIRICAL EVIDENCE" illustrates the empirical relationship between the portfolio puzzle and the heterogeneity of health variables across wealth. Classic financial theory suggests that under the assumption of no borrowing constraints and no mean-reverting stock returns, households should hold a constant risky portfolio in spite of their wealth, ages and life horizons (Samuelson (1969) and Merton (1969, 1971)). Yet data from the Survey of Consumers Finances (SCF) show that the risky portfolio share of financial assets increases in wealth. In the literature, this is called the ``portfolio puzzle". Meanwhile, various sources of data indicate that, compared with the non-wealthy households, the wealthy people have better health, longer life horizon, higher out of pocket medical spending with lower uncertainty, and more health care time. All these facts suggest a novel correlation between the portfolio puzzle and the heterogeneity of health variables across wealth and provide a robust empirical foundation to explain the portfolio puzzle from a health perspective. In Chapter 2 titled ``A LIFE CYCLE MODEL OF PORTFOLIO CHOICE AND HEALTH", a life cycle model with endogenous health investment and medical expenditure risk is proposed to capture the key empirical features in the first chapter. This calibrated model remarkably matches the U.S. data. I find that endogenous health investment is essential to explain the portfolio puzzle: if health is exogenous without investment, the model can only could deliver 7.2% of the risky share gap across wealth. Medical expenditure risk is less important and has a larger effect on the non-wealthy group. If I abstract from medical expenditure risk, the risky shares increase for both groups: 24% for the low wealth group and 5% for the wealthy group. This life cycle model provides new insights into how health affects households' financial behavior. Chapter 3 titled ``OPTIMAL CONSUMPTION AND PORTFOLIO CHOICE WITH HEALTH RISK" investigates the effect of health and health risk on households' optimal consumption and portfolio allocations over the life cycle. The simulation results show that consumption, savings in bonds, and savings in stocks all increase with health. The risky portfolio share, which is the ratio of savings in stocks to the total financial assets, demonstrates the same tendency for both health states over the life cycle: at the very young age, the risky portfolio share is relatively high. Starting from the middle age, this share falls significantly and keeps steady until the end of life. For most of the lifetime, the risky portfolio share is positively related with health. These results emphasize the importance of health and its associated risk in consumption and portfolio decisions.
Download or read book Departments of Labor Health and Human Services Education and Related Agencies Appropriations for 2005 written by United States. Congress. House. Committee on Appropriations. Subcommittee on the Departments of Labor, Health and Human Services, Education, and Related Agencies and published by . This book was released on 2004 with total page 1334 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Does Health Affect Portfolio Choice written by David A. Love and published by . This book was released on 2007 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Multidisciplinary Economics written by Peter de Gijsel and published by Springer Science & Business Media. This book was released on 2006-07-02 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multidisciplinary economics deliberately uses the insights and approaches of other disciplines and examines what consequences their contributions have for existing economic methods, theories and solutions to economic problems. Multidisciplinary economists should be at home in their own discipline and meet the high international standards of economic teaching and research that the discipline has developed. At the same time they should be able to recognise the limits of economics and be willing to open up new horizons by following new, discipline-transcending paths on which new insights into the analysis and solutions of economic problems can be found in collaboration with representatives of other disciplines. As a result of this search, economic methods and theories may have to be adjusted in such a way that they take insights from other disciplines into account. They may even have to be replaced by methods and theories that have been developed by other disciplines.
Download or read book Health Care Choices for Today s Consumer written by Marc S. Miller and published by Robert L. Bernstein. This book was released on 1997-07 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a comprehensive guide to the myriad health care choices that face today's families. It informs consumers of their options and helps them get the best, most affordable health care. It addresses the financial, insurance and legal concerns of health care as well as covering consumer rights, alternative health care, mental health, home care, workplace injuries and more. Written in a clear, straightforward style, it is an easy to use family reference that will help readers become active in directing their healthcare. The revised edition updates legal and financial information.
Download or read book Does Health Affect Portfolio Choice written by Paul A. Smith and published by . This book was released on 2009 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: A number of recent studies find that poor health is empirically associated with a safer portfolio allocation. It is difficult to say, however, whether this relationship is truly causal. Both health status and portfolio choice are influenced by unobserved characteristics such as risk attitudes, impatience, information, and motivation, and these unobserved factors, if not adequately controlled for, can induce significant bias in the estimates of asset demand equations. Using the 1992ndash;2006 waves of the Health and Retirement Study, we investigate how much of the connection between health and portfolio choice is causal and how much is due to the effects of unobserved heterogeneity. Accounting for unobserved heterogeneity with fixed effects and correlated random effects models, we find that health does not appear to significantly affect portfolio choice among single households. For married households, we find a small effect (about 2ndash;3 percentage points) from being in the lowest of five self-reported health categories.
Download or read book Patient s Healthcare Portfolio written by Rebecca Mendoza Saltiel Busch and published by CRC Press. This book was released on 2017-04-07 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the healthcare market moves toward an era of patient engagement, population health and patient advocates, practitioners need a practical how-to guide that helps facilitate their teaching with patients and family members on not just writing down or accumulating a personal health record, but an interactive process that converts the personal health information into a data-driven decision-making process. Through numerous forms, templates and real life examples, the author provides the tools to help patients gather critical health information while minimizing their exposure to medical and financial errors.
