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KMID : 0904520150400010057
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Health and Medical Sociology
2015 Volume.40 No. 1 p.57 ~ p.77
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Obesity and Financial Well-Being
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Lee Seung-Chul
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Abstract
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The central hypothesis of this study is that financial assets, a form of savings and debts may or may not induce weight gain. Then this paper estimates which exogenous variables in financial assets or debts cause weight loss. Using data from the Panel Study of Income Dynamics (PSID) and supplemental, this paper identifies the causal relationship between various measures of financial well-being and BMI. Also considering self-reported BMI has self-bias problem, this paper corrected BMI by Cawley method. Though this individual fixed effects specification effectively controls for time-invariant unobservable personal characteristics, it does not eliminate the endogeneity of key covariates. This paper intends to use instrumental variables techniques to address this problem. In this light, this paper finds the negative coefficient on savings and home value, and positive coefficient on other debt for both men and women.
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KEYWORD
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Obesity, Financial well-being, Endogeneity, Corrected BMI
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