The objectives of the study are three-fold: to investigate who are vulnerable to welfare loss from health shocks, what are the household responses to cope with the economic burden of health shocks and if policy responses like state health insurance schemes are effective in reducing the economic...

Can public infrastructure help regions to mitigate large shocks? We examine how hospital infrastructure contributes to regional resilience in the event of serious health emergencies. During the 1918 Spanish flu pandemic, four out of every 1,000 Germans died. We find lower influenza mortality...

I analyze a critical illness insurance in a consumption-investment model over the life cycle. I solve a model with stochastic mortality risk and health shock risk numerically. These shocks are interpreted as critical illness and can negatively affect the expected remaining lifetime, the health...