Income and employment effects of health shocks A test case for the German welfare state |
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| Authors: | Regina T Riphahn |
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| Institution: | (1) SELAPO, University of Munich, Ludwigstrasse 28RG, D-80539 Munich, Germany (Tel.: +49-89-2180 2128; fax: +49-89-336392; e-mail: regina.riphahn@selapo.vwl.uni-muenchen.de), DE;(2) CEPR, London, UK, GB |
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| Abstract: | Using data from the first eleven waves of the German Socio-Economic Panel this study investigates the dynamic effects of
health shocks on employment and economic well-being of older workers. A health shock trebles the probability of leaving the
labor force and almost doubles the unemployment risk. The financial effects of health shocks are small on average and those
individuals with the highest remaining earnings potential are least affected by the health shock. Welfare state instruments
support the poorest section of the population but do not succeed in neutralizing the effects of a health shock for these groups.
Received: 9 April 1997/Accepted: 28 May 1998 |
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| Keywords: | JEL classification: I10 J21 J28 J26 |
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