Economic policy uncertainty and subjective health: A gender perspective

Abstract

This study utilizes data from the World Values Survey (WVS) and the country-level Economic Policy Uncertainty (EPU) index to explore the relationship between the EPU and subjective health status. Unlike studies that use suicide as the investigated variable, we find that the adverse association between subjective health and the EPU for women is no less than that for men. The adverse impact is robust for men of prime working age (25-54). It is also robust for women younger than 25, the age range (15-25) among women that suffer from depression at the highest rate. In addition, an asymmetric effect occurs for males of prime working age (25-54) and women older than 55. Specifically, the asymmetric effect indicates that the association between subjective health status and the EPU differs when the EPU is declining and increasing for both sexes, with the effect of the former greater than the latter. This might reflect that the EPU affects both sexes through different mechanisms, with men of prime working age being breadwinners and older women's long life expectancy and poverty caused by shorter careers.

Keywords: Asymmetry; Economic policy uncertainty; Gender; Subjective health status.