Tian, Lin, Guariglia, Alessandra and Horsewood, Nicholas (2023). Cash Holdings and Health Shocks. The Review of Income and Wealth , (In Press)
Abstract
We are the first to investigate how health shocks relate to cash holdings. Using three waves of the China Health and Retirement Longitudinal Study over the period 2013-2018, we document that, for middle-aged and elderly people living in rural China, the onset of an acute health condition is associated with a 3.0 percentage point higher probability of holding only cash as a safe asset, and a 2.3 percentage point higher proportion of safe assets held in the form of cash. These results are robust to using different samples and estimation methods. We also find that ex-post reimbursement of medical expenses and lack of bank accessibility may drive the association between health shocks and cash holdings.
Divisions: | College of Business and Social Sciences > Aston Business School > Centre for Personal Financial Wellbeing College of Business and Social Sciences > Aston Business School > Accounting |
---|---|
Additional Information: | This is the peer reviewed version of the following article: [FULL CITE here once published], which has been published in final form at [Link to final article using the DOI once published]. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archived Versions. |
Last Modified: | 17 Apr 2024 07:26 |
Date Deposited: | 16 Apr 2024 10:11 | PURE Output Type: | Article |
Published Date: | 2023-08-21 |
Accepted Date: | 2023-08-21 |
Authors: |
Tian, Lin
(
0000-0001-9490-6054)
Guariglia, Alessandra Horsewood, Nicholas |
Download
Version: Accepted Version
Access Restriction: Restricted to Repository staff only until 1 January 2050.
License: Creative Commons Attribution Non-commercial No Derivatives