Tinna Laufey Asgeirsdóttir

Faculty of Economics
University of Iceland
Oddi v/Sturlugötu
101 Reykjavík
Tel: +354 865 0821

Institutional Affiliation: University of Iceland

NBER Working Papers and Publications

November 2018The Effect of the Economic Collapse in Iceland on the Probability of Cardiovascular Events
with Kristín H. Birgisdóttir, Arna Hauksdóttir, Christopher J. Ruhm, Unnur Anna Valdimarsdóttir: w25301
We explore whether the 2008 economic collapse in Iceland and subsequent economic crisis affected the probability of ischemic heart disease (IHD) events, independent of regular cyclical effects attributed to typical economic conditions. We estimate linear probability models using administrative data on IHD events, earnings and balance-sheet status, as well as unemployment for all Icelanders aged 16 and older in 2000-2014. We find that the sharp change in economic conditions in 2008 had a positive long-term effect on the probability of cardiovascular events in both males and females. In absolute terms these effects were small but often statistically significant and contrast with the finding that general business-cycle fluctuations operated in the opposite direction. Several potential mediat...

Published: Kristín Helga Birgisdóttir & Arna Hauksdóttir & Christopher Ruhm & Unnur Anna Valdimarsdóttir & Tinna Laufey Ásgeirsdóttir, 2020. "The effect of the economic collapse in Iceland on the probability of cardiovascular events," Economics & Human Biology, . citation courtesy of

August 2017Valuing Pain using the Subjective Well-being Method
with Thorhildur Ólafsdóttir, Edward C. Norton: w23649
Chronic pain clearly lowers utility, but it is empirically challenging to estimate the monetary compensation needed to offset this utility reduction. We use the subjective well-being method to estimate the value of pain relief among individuals age 50 and older. We use a sample of 64,205 observations from 4 waves (2008-2014) of the Health and Retirement Study, a nationally representative individual-level survey data, permitting us to control for individual heterogeneity. Our models, which allow for nonlinear effects in income, show the value of avoiding pain ranging between 56 to 145 USD per day. These results are lower than previously reported, suggesting that the value of pain relief varies by income levels. Thus, previous estimates of the value of pain relief assuming constant monetary ...

Published: Thorhildur Ólafsdóttir & Tinna Laufey Ásgeirsdóttir & Edward C. Norton, 2019. "Valuing Pain using the Subjective Well-being Method," Economics & Human Biology, . citation courtesy of

February 2015Lifecycle Effects of a Recession on Health Behaviors: Boom, Bust, and Recovery in Iceland
with Hope Corman, Kelly Noonan, Nancy Reichman: w20950
This study uses individual-level longitudinal data from Iceland, a country that experienced a severe economic crisis in 2008 and substantial recovery by 2012, to investigate the extent to which the effects of a recession on health behaviors are lingering or short-lived and to explore trajectories in health behaviors from pre-crisis boom, to crisis, to recovery. Health-compromising behaviors (smoking, heavy drinking, sugared soft drinks, sweets, fast food, and tanning) declined during the crisis, and all but sweets continued to decline during the recovery. Health-promoting behaviors (consumption of fruit, fish oil, and vitamin/ minerals and getting recommended sleep) followed more idiosyncratic paths. Overall, most behaviors reverted back to their pre-crisis levels or trends during the reco...

Published: Tinna Laufey Ásgeirsdóttir & Hope Corman & Kelly Noonan & Nancy E. Reichman, 2016. "Lifecycle effects of a recession on health behaviors: Boom, bust, and recovery in Iceland," Economics & Human Biology, vol 20, pages 90-107.

July 2012Are Recessions Good for Your Health Behaviors? Impacts of the Economic Crisis in Iceland
with Hope Corman, Kelly Noonan, Þórhildur Ólafsdóttir, Nancy E. Reichman: w18233
This study exploits the October 2008 economic crisis in Iceland to identify the effects of a macroeconomic downturn on a range of health behaviors. Using longitudinal survey data that include pre- and post- reports from the same individuals, we investigate the effects of the crisis on smoking, heavy drinking, dietary behaviors, sleep, and other health behaviors and investigate changes in work hours, real income, wealth, and mental health as potential mediators. We also consider the role of prices in shaping health behaviors and compute participation elasticities for the various behaviors. We find that the crisis led to reductions in all health-compromising behaviors examined and that it led to reductions in certain health-promoting behaviors but increases in others. The individual-level me...


NBER Videos

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email:

Contact Us