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KMID : 1235020190130020013
Health Service Management Review
2019 Volume.13 No. 2 p.13 ~ p.24
Mutual Influence Relationships of Subjective Health and Income of the Elderly
Choi Eun-Young

Kim Sue-Lynn
Chung Soon-Dool
Abstract
This study analyzed the mutual influences between subjective health condition and income of the elderly in the 60s or up, by using the Korean Longitudinal Study of Ageing(KLoSA), by the Korea Employment Information Service. Regarding the analysis methods, this study used the OLS linear regression analysis to examine the causalities between each variable and the SUR model considering the correlationship of error terms between two equations. In the results of analysis, the subjective health and income of the elderly were in the mutually-bidirectional complementary relationship. In other words, the increase of income of the elderly could improve the subjective health condition. When the subjective health condition of the elderly is better, it is possible to have the increased income due to the increase of labor and productivity. On top of revealing the importance of economic resources for the subjective health of the elderly, this verifies that the subjective health of the elderly is a crucial factor for the enhancement of income. Therefore, the state and society should develop the health enhancement programs for the elderly by considering the financial factors of the elderly, and also establish the policy measures such as the enhancement of income of the elderly, expansion of participation in economic activities, and extension of retirement age in the aspect of health demand.
KEYWORD
Elderly, Income, Subjective Health, Seemingly Unrelated Regression Model
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