Related papers: Quantifying Health Shocks Over the Life Cycle
This paper investigates the causal relationship between income shocks during the first years of life and adulthood mortality due to specific causes of death. Using all death records in the United States during 1968-2004 for individuals who…
Control charts have traditionally been used in industrial statistics, but are constantly seeing new areas of application, especially in the age of Industry 4.0. This paper introduces a new method, which is suitable for applications in the…
This study investigates the impact of acute health shocks on early labour market exits among individuals aged 50 and over in Europe. Utilising data from Waves 1-8 of the Survey of Health, Ageing, and Retirement in Europe (SHARE),…
This paper is the first to provide causal evidence of gender differences in healthcare utilisation to better understand the male-female health-survival paradox, where women live longer but experience worse health outcomes. Using rich Danish…
In this paper we study the distributional properties of a vector of lifetimes in which each lifetime is modeled as the first arrival time between an idiosyncratic shock and a common systemic shock. Despite unlike the classical…
This article reviews the economics literature of, primarily, the last 20 years, that studies the link between income shocks and consumption fluctuations at the household level. We identify three broad approaches through which researchers…
Demographic and health indicators may exhibit short or large short-term shocks; for example, armed conflicts, epidemics, or famines may cause shocks in period measures of life expectancy. Statistical models for estimating historical trends…
This paper investigates the optimal investment, consumption, and life insurance strategies for households under the impact of health shock risk. Considering the uncertainty of the future health status of family members, a non-homogeneous…
The importance of considering contextual probabilities in shaping response patterns within psychological testing is underscored, despite the ubiquitous nature of order effects discussed extensively in methodological literature. Drawing from…
In this paper, the recurrent events that can occur more than one over the follow-up time have been modeled by phase-type distributions. We use the finite-state continuous-time Markov process with multi states for patients with recurrent…
Consumers are sensitive to medical prices when consuming care, but delays in price information may distort moral hazard. We study how medical bills affect household spillover spending following utilization, leveraging variation in insurer…
A statistical description and model of individual healthcare expenditures in the US has been developed for measuring value in healthcare. We find evidence that healthcare expenditures are quantifiable as an infusion-diffusion process, which…
The meaning of public messages such as "One in x people gets cancer" or "One in y people gets cancer by age z" can be improved. One assumption commonly invoked is that there is no other cause of death, a confusing assumption. We develop a…
We propose a simple framework to measure consumption insurance against income shocks that accounts for higher-order moments of the income distribution. We derive a nonlinear consumption function in which the extent of insurance varies with…
Aging includes both continuous gradual decline from microscopic mechanisms together with major deficit onset events such as morbidity, disability and ultimately death. These deficit events are stochastic, obscuring the connection between…
Following the recent publication of our book on Exploring the Health State of a Population by Dynamic Modeling Methods in The Springer Series on Demographic Methods and Population Analysis (DOI 10.1007/978-3-319-65142-2) we provide this…
We introduce a continuous-time Markov chain framework for estimating population size from multi-list data, which allows directional interactions to be modelled and can accommodate absorbing lists, such as death records, or more general data…
The Gompertz-Makeham distribution, which is used commonly to represent lifetimes based on laws of mortality, is one of the most popular choices for mortality modelling in the field of actuarial science. This paper investigates ordering…
In this paper, we investigate the probabilistic characteristics of a unit driven by Dichotomous Markov Noise (DMN), as an external random life increasing and decreasing shocks. Using DMN, we will define two new aging classes of the overall…
The rise in healthcare costs has led to the adoption of cost-sharing devices in health plans. This article explores this discussion by simulating Health Savings Accounts (HSAs) to cover medical and hospital expenses, supported by…