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Consequences and Predictors of New Health Events

Consequences and Predictors of New Health Events

Chapter:
(p.213) 7 Consequences and Predictors of New Health Events
Source:
Analyses in the Economics of Aging
Author(s):
James P. Smith
Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226903217.003.0008

This chapter examines the effect of new health events on a series of subsequent outcomes that are both directly and indirectly related to socioeconomic status (SES). It discusses the amount of new health activity that afflicts individuals during their fifties and early sixties and evaluates the impact of these new health events on a series of outcomes including medical expenses, work effort, income, and health insurance. This chapter concludes that among people in their preretirement years, feedbacks from health to labor supply, household income, and wealth are realities that should be neither ignored nor dismissed as of secondary importance.

Keywords:   new health events, socioeconomic status, medical expenses, work effort, income, health insurance, labor supply

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