Risk preferences are typically assumed to be constant for an individual across the life cycle. In this paper we empirically assess if they are time varying. Specifically, we analyse whether health shocks influence individual risk aversion. We follow an innovative approach and use grip strength...

In this paper we estimate the effects of college education on cognitive abilities and health exploiting exogenous variation in college availability and student loan regulations. By means of semiparametric local instrumental variables techniques we estimate marginal treatment effects in an...

We analyze the effect of household indebtedness on different health outcomes using data from the German Socio-Economic Panel from 1999-2009. To establish a causal effect, we rely on (a) fixed-effects methods, (b) a subsample of constantly employed individuals, and (c) lagged debt variables to...

Married individuals are usually found to be in better health than singles but it is not fully known why. Using data from the German Socio-Economic Panel we test one possible explanation, namely that two spouses encourage each other to a health-promoting behavior and monitor it. Therefore, we...

We analyze the effect of household indebtedness on different health outcomes using data from the German Socio-Economic Panel from 1999-2009. To establish a causal effect, we rely on (a) fixed-effects methods, (b) a subsample of constantly employed individuals, and (c) lagged debt variables to...

Risk preferences are typically assumed to be constant for an individual across the life cycle. In this paper we empirically assess if they are time varying. Specifically, we analyse whether health shocks influence individual risk aversion. We follow an innovative approach and use grip strength...

Theoretical papers show that optimal prevention decisions in the sense of selfprotection (i.e., primary prevention) depend not only on the level of (second-order) risk aversion but also on higher-order risk preferences such as prudence (third-order risk aversion). We study empirically whether...

Individual cognitive functioning declines over time. We seek to understand how adverse physical health shocks in older ages contribute to this development. By use of event-study methods and data from the USA, England and several countries in Continental Europe we find evidence that health shocks...

In this paper we estimate the effects of college education on cognitive abilities and health exploiting exogenous variation in college availability and student loan regulations. By means of semiparametric local instrumental variables techniques we estimate marginal treatment effects in an...

We study the effect of education on health (hospital stays, number of diagnosed conditions, self-rated poor health, and obesity) over the life-cycle in Germany, using compulsory schooling reforms as a source of exogenous variation. Our results suggest a positive correlation of health and...