Health and (Other) Asset Holdings

Détails

ID Serval
serval:BIB_9E1E7B5D3360
Type
Article: article d'un périodique ou d'un magazine.
Collection
Publications
Institution
Titre
Health and (Other) Asset Holdings
Périodique
Review of Economic Studies
Auteur(s)
Hugonnier J., Pelgrin F., St-Amour P.
ISSN
0034-6527
Statut éditorial
Publié
Date de publication
04/2013
Peer-reviewed
Oui
Volume
80
Numéro
2
Pages
663-710
Langue
anglais
Résumé
Despite clear evidence of correlations between financial and medical statuses and decisions, most models treat financial and health-related choices separately. This article bridges this gap by proposing a tractable dynamic framework for the joint determination of optimal consumption, portfolio holdings, health investment, and health insurance. We solve for the optimal rules in closed form and capitalize on this tractability to gain a better understanding of the conditions under which separation between financial and health-related decisions is sensible, and of the pathways through which wealth and health determine allocations, welfare and other variables of interest such as expected longevity or the value of health. Furthermore we show that the model is consistent with the observed patterns of individual allocations and provide realistic estimates of the parameters that confirm the relevance of all the main characteristics of the model.
Mots-clé
Consumption, Health Expenditures and Insurance, Mortality and Morbidity Risks, Portfolio, Values of Life and of Health
Web of science
Open Access
Oui
Création de la notice
29/08/2012 14:12
Dernière modification de la notice
20/08/2019 15:04
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