Does A Bullish Stock Market Promote Risky Health Behavior?
12 Pages Posted: 4 Sep 2020 Last revised: 22 Feb 2021
Date Written: June 17, 2020
Using an international dataset, this letter examines the consequences of stock market fluctuations for health outcomes. We find that high returns are associated with increased death rates from alcohol consumption, smoking, obesity, and drug use disorders. Although the out-of-pocket expenditure on healthcare also rises one year after the stock market surge, the net effect of stock index upswings on life expectancy is significantly negative.
Keywords: Health Behaviors, Life Expectancy, Stock Market
JEL Classification: G10, I12
Suggested Citation: Suggested Citation