Kristín H. Birgisdóttir
Faculty of Economics
University of Iceland
Institutional Affiliation: University of Iceland
NBER Working Papers and Publications
|November 2018||The Effect of the Economic Collapse in Iceland on the Probability of Cardiovascular Events|
with Arna Hauksdóttir, Christopher J. Ruhm, Unnur Anna Valdimarsdóttir, Tinna Laufey Ásgeirsdóttir: 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...