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Getting high on the market: Stock price movements, drug abuse, and health implications

Author

Listed:
  • Tomasz Piotr Wisniewski

    (Department of Accounting and Finance, Faculty of Business and Law, The Open University, Milton Keynes, UK)

  • Brendan John Lambe

    (College of Business, Alfaisal University, Riyadh, Saudi Arabia)

Abstract

Using an international dataset, this letter finds that high stock returns are associated with increased death rates from drug use disorders. Although the out-of-pocket expenditure on healthcare also rises following a stock market surge, the net effect on life expectancy is significantly negative.

Suggested Citation

  • Tomasz Piotr Wisniewski & Brendan John Lambe, 2023. "Getting high on the market: Stock price movements, drug abuse, and health implications," Financial Economics Letters, Anser Press, vol. 2(2), pages 28-34, October.
    • Handle: RePEc:bba:j00007:v:2:y:2023:i:2:p:28-34:d:239
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    References listed on IDEAS

    as
    1. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
    2. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 38(2), pages 112-134.
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