th equal to $94,310. These spending measures represent a substantial fraction of liquid wealth for decedents. Total out …-of-pocket expenditures are strongly positively related to wealth and weakly related to income. We find evidence for a mechanism by which … wealth could plausibly buy health: large expenditures on home modifications, helpers, home health care, and higher …

for fluctuations in income and out-of-pocket medical expenses, as well as financial wealth sufficient to buffer against …

paper builds on a growing literature that seeks to better document how and why wealth and SES are related. Specifically, we …-differences identification strategy. We estimate a parameter for acute illnesses (which should have a causal effect on wave-to-wave wealth … should be less causally related to wealth differences year-to-year). Additionally, we interact these health indicators with …

for fluctuations in income and out-of-pocket medical expenses, as well as financial wealth sufficient to buffer against … these sources. -- household income ; volatility ; wealth ; medical spending …