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Macroeconomic Shocks, Job Security, and Health

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  • David W. Johnston
  • Michael A. Shields
  • Agne Suziedelyte

Abstract

How do exogenous changes in the macroeconomic environment affect workers’ perceived job security, and consequently, their mental and physical health? To answer this question, we exploit variation in world commodity prices over the period 2001–17 and analyze panel data that include detailed classifications of mining workers. We find that commodity price increases cause increases in perceived job security, which in turn, significantly and substantively improves the mental health of workers. In contrast, we find no effects on physical health. Our results imply that the estimated welfare costs of recessions are much larger when the effects of job insecurity, and not only unemployment, are considered.

Suggested Citation

  • David W. Johnston & Michael A. Shields & Agne Suziedelyte, 2020. "Macroeconomic Shocks, Job Security, and Health," American Journal of Health Economics, University of Chicago Press, vol. 6(3), pages 348-371.
    • Handle: RePEc:ucp:amjhec:doi:10.1086/708929
    DOI: 10.1086/708929
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    Cited by:

    1. Jung, Dain & Kwak, Do Won & Tang, Kam Ki & Yazbeck, Myra, 2022. "Poor Job Conditions Amplify Negative Mental Health Shocks," Labour Economics, Elsevier, vol. 79(C).
    2. Alexander Ahammer & Dominik Grübl & Rudolf Winter-Ebmer, 2020. "The health externalities of downsizing," CDL Aging, Health, Labor working papers 2020-05, The Christian Doppler (CD) Laboratory Aging, Health, and the Labor Market, Johannes Kepler University Linz, Austria.
    3. Dain Jung & Do Won Kwak & Kam Ki Tang & Myra Yazbeck, 2021. "How Do Job Conditions Amplify the Impacts of Mental Health Shocks?," Discussion Papers Series 647, School of Economics, University of Queensland, Australia.
    4. Avdic, Daniel & de New, Sonja C. & Kamhöfer, Daniel A., 2021. "Economic downturns and mental health in Germany," European Economic Review, Elsevier, vol. 140(C).
    5. Botha, Ferdi & Nguyen, Viet H., 2022. "Opposite nonlinear effects of unemployment and sentiment on male and female suicide rates: Evidence from Australia," Social Science & Medicine, Elsevier, vol. 292(C).
    6. Christoph Kronenberg, 2021. "New(spaper) evidence of a reduction in suicide mentions during the 19th century US gold rush," Health Economics, John Wiley & Sons, Ltd., vol. 30(10), pages 2582-2594, September.

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