Mohanan Manoj
Duke University.
Rev Econ Stat. 2013 May;95(2):673-681. doi: 10.1162/REST_a_00262.
Endogeneity between health and wealth presents a challenge for estimating causal effects of health shocks. Using a quasi-experimental design, comprising exogenous shocks sustained as bus accident injuries in India, with controls drawn from travelers on the same bus routes one year later, I present new evidence of causal effects on consumption and debt. Using primary household survey data, I find that households faced with shock-related expenditures are able to smooth consumption on food, housing, and festivals, with small reductions in educational spending. Debt was the principal mitigating mechanism households used, leading to significantly larger levels of indebtedness.
健康与财富之间的内生性给估计健康冲击的因果效应带来了挑战。利用一种准实验设计,该设计包括印度公交车事故受伤所造成的外生冲击,并以一年后同一路线的乘客作为对照组,我给出了关于消费和债务因果效应的新证据。利用家庭层面的原始调查数据,我发现面临与冲击相关支出的家庭能够在食品、住房和节日消费上实现消费平滑,教育支出略有减少。债务是家庭使用的主要缓解机制,导致债务水平显著提高。