Health and Home Ownership: Findings for the Case of Japan

40 Pages Posted: 14 May 2015

See all articles by Toshiaki Aizawa

Toshiaki Aizawa

Asian Development Bank Institute

Matthias Helble

Asian Development Bank; ADBI; ADBI

Date Written: April 2015

Abstract

The research objective of this paper is to test whether health conditions and health behavior are related to home ownership. This question has not yet been examined quantitatively in the existing literature. Our estimation results show that homeowners consistently report better health and less physical problems. The significance of home ownership remains even after controlling for financial assets and housing conditions. Furthermore, our estimations indicate that homeowners invest more in their future health by undergoing voluntarily medical screenings more frequently. Finally, our estimations suggest that home ownership is positively correlated with health care expenditure even when controlling for income, debt, and other financial assets and we could not reject the exogeneity of home ownership. Our empirical results thus provide evidence for the importance of home ownership for health.

Keywords: health, home ownership, housing conditions, grossman model, medical expenditures

JEL Classification: I12, I15

Suggested Citation

Aizawa, Toshiaki and Helble, Matthias, Health and Home Ownership: Findings for the Case of Japan (April 2015). ADBI Working Paper 525, Available at SSRN: https://ssrn.com/abstract=2605794 or http://dx.doi.org/10.2139/ssrn.2605794

Toshiaki Aizawa (Contact Author)

Asian Development Bank Institute ( email )

Kasumigaseki Building 8F
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

Matthias Helble

Asian Development Bank ( email )

Philippines
006326831120 (Phone)

ADBI ( email )

Kasumigaseki Building 8F
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

ADBI ( email )

Kasumigaseki Building 8F
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo, 100-6008
Japan

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