The Effects of Spousal Bereavement and Health Shocks on Middle-aged and Elderly's Financial Asset Holdings

• Main Authors: TSENG,CHIEN-TZU, 曾千慈
• Other Authors: HSU,SHUO-FEN
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/63557573362461249817

碩士 === 國立高雄第一科技大學 === 風險管理與保險系碩士班 === 105 === In this study, we employ data from Taiwan Longitudinal Study in Aging in 1999 and 2003. The purposes of this study are to discuss the effects of spousal bereavement and health shocks on middle-aged and elderly's asset holdings. Assets are divided into non-financial assets and financial assets on the basis of liquidity. In this study, the Two Stage Predictor Substitution (2SPS) and instrumental variables are used to solve the endogeneity problem of income and asset holdings in the model. Weak instruments are used in Test that the selected instrumental variables are not weak instruments. The findings of this study are as follows. First, the spousal bereavement have no effect on the non-financial asset holdings and have significantly positive effect on the financial asset holdings. Second, the health shocks have no effect on the non-financial asset holdings and have significantly positive effect on the financial asset holdings.