MORTALITY RISK, MORAL HAZARD, AND MENTAL HEALTH

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C la ra Fer ns trö m M O RT AL IT Y R IS K , M O RAL H A ZAR D, AN D M EN TAL H EAL TH

ISBN 978-91-7731-165-2

DOCTORAL DISSERTATION IN ECONOMICS

STOCKHOLM SCHOOL OF ECONOMICS, SWEDEN 2020

Clara Fernström

MORTALITY RISK, MORAL HAZARD, AND MENTAL HEALTH

ESSAYS IN APPLIED MICROECONOMICS MORTALITY RISK, MORAL HAZARD, AND MENTAL HEALTH

This doctoral thesis consists of three self-contained chapters.

“ Dying and dissaving” analyses how individuals change saving behavior in response to new information about their expected lifetime. The author uses Swedish administrative data to link negative health shocks to subsequent saving behavior. The study also contributes to understanding the effect of health on wealth.

“Mental health among Swedish PhD students” analyses the health of PhD students over time and compared to the population and investigates what sociodemographic and institutional factors can explain mental health out- comes. The authors use register data to study mental health care uptake among Swedish PhD students that enrolled 1993–2014.

“Cost of loans and moral hazard: A quasi-experiment” analyses the effects of higher borrowing costs on private firms in the presence of financial fric- tions. The authors use unique and comprehensive data on firm loans and exploit an unexpected increase in the Swedish repo rate in 2010 that ex- posed firms with long term loans maturing right before or after to different borrowing costs.

CLARA FERNSTRÖM holds a MSc in Economics from Stockholm School of Economics. Her main research interests are household finance and applied micro- economics.

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C la ra Fer ns trö m M O RT AL IT Y R IS K , M O RAL H A ZAR D, AN D M EN TAL H EAL TH

ISBN 978-91-7731-165-2

DOCTORAL DISSERTATION IN ECONOMICS

STOCKHOLM SCHOOL OF ECONOMICS, SWEDEN 2020

Clara Fernström

MORTALITY RISK, MORAL HAZARD, AND MENTAL HEALTH

ESSAYS IN APPLIED MICROECONOMICS MORTALITY RISK, MORAL HAZARD, AND MENTAL HEALTH

This doctoral thesis consists of three self-contained chapters.

“ Dying and dissaving” analyses how individuals change saving behavior in response to new information about their expected lifetime. The author uses Swedish administrative data to link negative health shocks to subsequent saving behavior. The study also contributes to understanding the effect of health on wealth.

“Mental health among Swedish PhD students” analyses the health of PhD students over time and compared to the population and investigates what sociodemographic and institutional factors can explain mental health out- comes. The authors use register data to study mental health care uptake among Swedish PhD students that enrolled 1993–2014.

“Cost of loans and moral hazard: A quasi-experiment” analyses the effects of higher borrowing costs on private firms in the presence of financial fric- tions. The authors use unique and comprehensive data on firm loans and exploit an unexpected increase in the Swedish repo rate in 2010 that ex- posed firms with long term loans maturing right before or after to different borrowing costs.

CLARA FERNSTRÖM holds a MSc in Economics from Stockholm School of Economics. Her main research interests are household finance and applied micro- economics.

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Mortality Risk, Moral Hazard, and Mental Health

Essays in Applied Microeconomics Clara Fernström

Akademisk avhandling

som för avläggande av ekonomie doktorsexamen vid Handelshögskolan i Stockholm

framläggs för offentlig granskning torsdagen den 14 maj 2020, kl 13.15,

sal Ragnar, Handelshögskolan,

Sveavägen 65, Stockholm

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