Health Status and Portfolio Choice: Causality or Heterogeneity?
This paper explores the role of unobserved individual characteristics in the health-assets and health-portfolio correlations. We apply various econometrics models to a unique longitudinal dataset with rich information that allows for the exploitation of four different health indices. Our findings show strong cross-sectional correlations between health and both financial and non-financial assets, but these correlations seem to be mainly driven by heterogeneity as the correlations largely...[Show more]
|Collections||ANU Research Publications|
|Source:||Journal of Banking and Finance|
|01_Fan_Health_Status_and_Portfolio_2009.pdf||216.98 kB||Adobe PDF||Request a copy|
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