Recession depression: mental health effects of the 2008 stock market crash.

Recession depression: mental health effects of the 2008 stock market crash.
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DOI:
10.1016/j.jhealeco.2013.09.002
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发表时间:
2013-12
影响因子:
3.5
通讯作者:
Nicholas, Lauren Hersch
Nicholas, Lauren Hersch
中科院分区:
经济学2区
文献类型:
--
作者:
McInerney, Melissa;Mellor, Jennifer M.;Nicholas, Lauren Hersch

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突然的、大量的财富损失会影响心理健康吗?我们利用 2008 年健康与退休研究采访日期的外生变化来评估大量财富损失对美国老年人心理健康的影响。我们比较了 2008 年 10 月股市崩盘前后接受采访的受访者财富和心理健康的跨波变化。我们发现,股市崩盘减少了财富,增加了抑郁情绪和抗抑郁药物的使用,而且这些影响在崩盘前持有大量股票的受访者中最为明显。这些结果表明,突然的财富损失会导致主观心理健康指标立即下降。然而,我们没有发现任何证据表明财富损失会导致经临床验证的抑郁症状或抑郁指标的增加。
Do sudden, large wealth losses affect mental health? We use exogenous variation in the interview dates of the 2008 Health and Retirement Study to assess the impact of large wealth losses on mental health among older U.S. adults. We compare cross-wave changes in wealth and mental health for respondents interviewed before and after the October 2008 stock market crash. We find that the crash reduced wealth and increased feelings of depression and use of antidepressant drugs, and that these effects were largest among respondents with high levels of stock holdings prior to the crash. These results suggest that sudden wealth losses cause immediate declines in subjective measures of mental health. However, we find no evidence that wealth losses lead to increases in clinically-validated measures of depressive symptoms or indicators of depression.
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