Evaluating the Role of Individual Specific Heterogeneity in the Relationship Between Subjective Health Assessments and Income

Ivan Fernandez-Val (), Yevgeniya Savchenko () and Francis Vella
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Yevgeniya Savchenko: Georgetown University

No 7651, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper investigates the impact of income on an individual's subjective self-assessment of own health. We employ recently developed methods in the non linear panel data literature to account for the endogeneity of income and the presence of individual heterogeneity. We examine a panel data set of individuals living in Australia and find no statistically significant relationship between income and health responses. Moreover, the evidence suggests that the variation in the individual specific effects, comprising both observed and unobserved time invariant factors, is primarily responsible for the variation across individuals' responses.

Keywords: subjective health assessments; non linear panel data models; fixed effects (search for similar items in EconPapers)
JEL-codes: C33 C35 I12 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2013-09
New Economics Papers: this item is included in nep-hea
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Citations: View citations in EconPapers (3)

Published - published in: Economics & Human Biology, 2017, 25, 85-98

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