Household Saving, Health, and Healthcare Utilisation in Japan
Sarah Brown (),
Mark Harris () and
Christopher Spencer ()
No 2018-17, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
The impact of health and healthcare utilisation on household savings and financial portfolios is explored using data from the Japanese Household Panel Survey (JHPS) and he Keio Household Panel Survey (KHPS). Whereas poor physical health is associated with higher savings and larger financial portfolios, poor mental health is found to have the opposite effects. Hospital visits, hospitalisation, and screening are associated with greater savings and larger financial portfolios. We also explore how the share of savings expressed as a proportion of total financial assets is affected by our health measures. We find that portfolio re-balancing effects associated with our health measures are outweighed by pure 'size' effects, in that our health measures affect the total value of a household's financial portfolio and its components (i.e., savings and securities), but not its overall composition.
Keywords: Asset Allocation; Censored Quantile Regressions; Fractional Models; Health and Healthcare Utilization; Savings and Financial Assets; Tobit Model (search for similar items in EconPapers)
JEL-codes: C33 C35 D14 G11 (search for similar items in EconPapers)
Pages: 49 p.
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitcei:2018-17
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