Are Mortality Rates Random Walk? Panel Unit- root Tests with the Evidences from Micro Data*
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چکیده
This study investigates the relationship between economic conditions and health. Previous studies have estimated that they have a significantly negative correlation. However, there is a concern that mortality rates are non-stationary series, with which a chance of spurious correlation exhibits. By taking first difference on regressors and conducting unit-root tests for panel data, it shows some evidences that the unit-root concern is reasonable and the association between health and economic shocks is exaggerated. An accompanying analysis of micro data indicates that the influence of risky behaviors on mortality rate in response to economic conditions cannot match the extent to which the basic fixed-effect model predicted.
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