Replication data for: Medicare Part D and Portfolio Choice
Principal Investigator(s): View help for Principal Investigator(s) Padmaja Ayyagari; Daifeng He
Version: View help for Version V1
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P2016_1125_data | 12/07/2019 12:55:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 12/07/2019 07:55:AM |
Project Citation:
Ayyagari, Padmaja, and He, Daifeng. Replication data for: Medicare Part D and Portfolio Choice. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116317V1
Project Description
Summary:
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Economic theory suggests that medical spending risk affects the extent to which households are willing to accept financial risk, and consequently their investment portfolios. In this study, we focus on the elderly for whom medical spending represents a substantial risk. We exploit the exogenous reduction in prescription drug spending risk due to the introduction of Medicare Part D in the U.S. in 2006 to identify the causal effect of medical spending risk on portfolio choice. Consistent with theory, we find that Medicare-eligible persons increased risky investment after the introduction of prescription drug coverage, relative to a younger, ineligible cohort.
Scope of Project
JEL Classification:
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D14 Household Saving; Personal Finance
G11 Portfolio Choice; Investment Decisions
I13 Health Insurance, Public and Private
J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
D14 Household Saving; Personal Finance
G11 Portfolio Choice; Investment Decisions
I13 Health Insurance, Public and Private
J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
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