Your Money or Your Life: Managing Health,Managing Money |
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Authors: | Irina B Grafova |
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Institution: | (1) Department of Health Systems and Policy, School of Public Health, University of Medicine and Dentistry of New Jersey, 335 George Street, Suite 2200, New Brunswick, NJ 08903, USA |
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Abstract: | Using the Panel Study of Income Dynamics, this paper examines the relationship between non-collateralized debt (NCD) and health
behaviors. The results reveal that households whose members tend to lead less healthy lifestyles are more likely to hold NCD.
There are three possible underlying hypotheses that may explain these relationships: (a) common factors, such as preferences,
shaping both debt and poorer health behaviors; (b) poorer health and health behaviors causing debt; and (c) debt causing poorer
health behaviors. Our findings are not consistent with a causal relationship between health behaviors and NCD. It is likely
that other factors, such as time preferences, risk aversion and self-control may underlie the observed correlation.
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Keywords: | Credit card debt Health behaviors Non-collateralized debt Obesity Smoking |
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