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Does debt affect health? : Cross country evidence on the debt-health nexus

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dc.contributor.authorClayton, Maya
dc.contributor.authorLiñares-Zegarra, José
dc.contributor.authorWilson, John O S
dc.date.accessioned2017-02-08T00:32:22Z
dc.date.available2017-02-08T00:32:22Z
dc.date.issued2015-04
dc.identifier.citationClayton , M , Liñares-Zegarra , J & Wilson , J O S 2015 , ' Does debt affect health? Cross country evidence on the debt-health nexus ' , Social Science and Medicine , vol. 130 , pp. 51-58 . https://doi.org/10.1016/j.socscimed.2015.02.002en
dc.identifier.issn0277-9536
dc.identifier.otherPURE: 165677018
dc.identifier.otherPURE UUID: f8ee8678-d378-46ab-a91a-505681e6f681
dc.identifier.otherPubMed: 25681714
dc.identifier.otherPubMed: 25681714
dc.identifier.otherScopus: 84922495978
dc.identifier.otherWOS: 000351785500007
dc.identifier.otherORCID: /0000-0002-9554-9332/work/81797374
dc.identifier.urihttp://hdl.handle.net/10023/10248
dc.description.abstractWe investigate the relationship between aggregate household debt and aggregate health outcomes across 17 European countries over the period 1995 to 2012. Using a dataset of country-level standardized and objective measures of household debt, health outcomes and a rich set of control variables, we estimate an instrumental variable (GMM) model to address possible reverse causality concerns. We find that aggregate household debt affects health outcomes, and that this varies by the maturity of debt. Both short and medium-term debt has a positive effect on health outcomes. Long-term unsecured debt and mortgage debt are associated with poorer health outcomes. These findings are robust after controlling for alternative measures of health and debt. Overall, the results suggest that aggregate household debt is an important determinant of aggregate health outcomes across countries.
dc.format.extent8
dc.language.isoeng
dc.relation.ispartofSocial Science and Medicineen
dc.rights© 2015. Elsevier Inc. All rights reserved. This is the author’s version of a work that was accepted for publication in Social Science and Medicine. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Social Science & Medicine, 130, April 2015 DOI http://dx.doi.org/10.1016/j.socscimed.2015.02.002en
dc.subjectEuropeen
dc.subjectDebt burdenen
dc.subjectDebt maturityen
dc.subjectHealth outcomesen
dc.subjectGeneralized methods of momentsen
dc.subjectCross-country dataen
dc.subjectHD28 Management. Industrial Managementen
dc.subjectH Social Sciences (General)en
dc.subjectBDCen
dc.subjectR2Cen
dc.subject.lccHD28en
dc.subject.lccH1en
dc.titleDoes debt affect health? : Cross country evidence on the debt-health nexusen
dc.typeJournal articleen
dc.description.versionPostprinten
dc.contributor.institutionUniversity of St Andrews. School of Managementen
dc.contributor.institutionUniversity of St Andrews. Centre for Responsible Banking and Financeen
dc.identifier.doihttps://doi.org/10.1016/j.socscimed.2015.02.002
dc.description.statusPeer revieweden
dc.date.embargoedUntil2017-04-01
dc.identifier.urlhttp://papers.ssrn.com/sol3/Papers.cfm?abstract_id=2429025en


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