Ill-health is commonly believed to be detrimental for labor market outcomes. Yet, causal evidence mostly comes from analyses of severe shocks, whereas minor variations in health are not only more common but also a better target for prevention measures. This study makes use of data from the...

This paper develops a life-cycle model in which workers choose both consumption levels and job fatality risks, implying that the effect of age on the value of life is ambiguous. The empirical analysis of this relationship uses novel, age-dependent fatal and nonfatal risk variables. Workers'...