Year: 2017
Author: Zelekha, Orly, Zelekha, Yaron
Applied Economics Quarterly, Vol. 63 (2017), Iss. 4 : pp. 429–454
Abstract
We use a large survey on health conditions conducted in Israel to explore whether absolute and/or relative income has a moderating effect on depression and/or chronic anxiety. In contributing to the literature, we use diagnosis-based depression and/or anxiety instead of non-diagnosis terms, such as happiness or well-being. Under this framework, we found that all of the moderating effect of income should be attributed to relative income and especially to socioeconomic relative income. Thus, stressing social comparison, as opposed to inner comparison or habituation. These moderating effects, which are mostly found in middle-aged adults (ages 30 to 65), are robust to alternative specifications of different sampling of health conditions, numerous control variables and several subsamples divided by gender, age and religion. The results have important health policy implications regarding possible treatments.
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Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/aeq.63.4.429
Applied Economics Quarterly, Vol. 63 (2017), Iss. 4 : pp. 429–454
Published online: 2017-12
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 26
Keywords: Depression Anxiety Relative Income Absolute Income Well-being