Frijters, Paul; Haisken-DeNew, John P.; Shields, Michael A. - 2021
The socio-economic gradient in health remains a controversial topic in economics and other social sciences. In this … paper we develop a new duration model that allows for unobserved persistent individual-specific health shocks and provides … leads to a 12% decline in the probability of death. We find a large role for unobserved health shocks, with 5-years of …