|
KMID : 1124020220380010079
|
|
Korean Social Security Studies
2022 Volume.38 No. 1 p.79 ~ p.100
|
|
|
Dynamic Impact of Cancer Diagnosis on Income and Medical Expenditure: An Event Study Approach
|
|
Lee Seong-Ho
Min In-Sik
|
|
|
Abstract
|
|
|
|
The purpose of this study is to empirically and theoretically investigate the dynamic impact of the health shock of a cancer diagnosis on income indicators and medical expenses using the event study approach. We employ annual survey data from the Korea Medical Panel (KHP) from 2009 to 2018 for empirical analysis. As a result of the analysis, we find that total household income temporarily increased at the time of diagnosis of cancer, but it can be expected that insurance payouts and government subsidies may cause this result. In line with theoretical derivations, personal labor income decreased significantly after a cancer diagnosis. Medical expenditure increased rapidly at the time of cancer diagnosis, and after that, medical expenses were significantly higher than those without a cancer diagnosis. Diagnosis of serious diseases such as cancer suggests that it has an unexpected effect on the economic aspect of individuals and families beyond the concept of disease and treatment. This study reveals academic contribution in that it tries to analyze and explain the effects of health shock with an economic modelling approach and suggests a testable application model through the event study approach. It is expected that in-depth and practical research in related fields will be carried out to prepare effective and efficient policies for diagnosing severe diseases, including cancer.
|
|
|
KEYWORD
|
|
|
Health Shock, Cancer Diagnosis, Event Study Analysis, Propensity Score Matching, Korea Health Panel
|
|
|
FullTexts / Linksout information
|
|
|
|
|
|
Listed journal information
|
|
|