Precautionary motive for saving and medical expenses under health uncertainty: Evidence from Korea

Moon Kee Kong, Jeong Yeon Lee and Hoe Kyung Lee

Economics Letters, 2008, vol. 100, issue 1, pages 76-79

Abstract: This paper considers a model of precautionary behavior under health uncertainty and derives testable equations to be used in empirical analysis. Our empirical findings based on data from Korea provide evidence of precautionary motive for saving and medical expenses that arises from health uncertainty.

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