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Health Status and Portfolio Choice: Causality or Heterogeneity?

Fan, Jia-Zheung; Zhao, Ruoyun (Lucy)


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]

CollectionsANU Research Publications
Date published: 2009
Type: Journal article
Source: Journal of Banking and Finance
DOI: 10.1016/j.jbankfin.2008.12.019


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