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Title: The Marginal Cost of Mortality Risk Reduction: Evidence from Housing Markets

Citation Type: Working Paper

Publication Year: 2021

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Abstract: We provide the first evidence that spatial variation in all-cause mortality risk is capitalized into US housing prices. Using a hedonic framework, we recover the annual implicit cost of a 0.1 percentage-point reduction in mortality risk among older Americans and find that this figure is both relatively low and decreasing in age, from $1,346 for a 67 year old to $246 for an 87 year old. These estimates are one-fifth of the size of comparable estimates found in the labor market, suggesting that the housing market provides an alternative, substantially cheaper channel to reducing mortality risk.

Url: https://www.nber.org/system/files/working_papers/w29622/w29622.pdf

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Authors: Bishop, Kelly; Kuminoff, Nicolai V.; Mathes, Sophie; Murphy, Alvin

Series Title: NBER Working Paper Series

Publication Number: 29622

Institution: National Bureau of Economic Research

Pages: 1-43

Publisher Location: Cambridge

Data Collections: IPUMS USA

Topics: Fertility and Mortality, Housing and Segregation

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