Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/173788 
Authors: 
Year of Publication: 
2018
Series/Report no.: 
cege Discussion Papers No. 337
Publisher: 
University of Göttingen, Center for European, Governance and Economic Development Research (cege), Göttingen
Abstract: 
In this paper, I introduce depression to the economics of human health and aging. Based on studies from happiness research, depression is conceptualized as a drastic loss of utility and value of life (life satisfaction) for unchanged fundamentals. The model is used to explain how untreated depression leads to unhealthy behavior and adverse health outcomes: depressed individuals are predicted to save less, invest less in their health, consume more unhealthy goods, and exercise less. As a result, they age faster and die earlier than non-depressed individuals. I calibrate the model for an average American and discus the socioeconomic gradient of health and depression as well as the hump-shaped association of antidepressant use with age. Delays in treatment for depression in young adulthood are predicted to have significant repercussions on late-life health outcomes and longevity.
Subjects: 
depression
depression therapy
health behavior
aging
longevity
JEL: 
D15
D91
I10
I12
Document Type: 
Working Paper

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