Abstract
Using the China Health and Retirement Longitudinal Study, this paper studies the impact of abnormal hot temperature on residents' demand for commercial health insurance. The results show that for every 1°F rise in abnormal temperature, the probability of people buying commercial health insurance increased by 6%. Furthermore, the abnormal hot temperature has a more significant impact on the commercial health insurance demand of women, residents in the South and residents in the East. Channel analysis shows that abnormal hot temperature affects the demand for commercial health insurance through two channels: increasing residents' concern about climate risk and affecting health. This paper provides evidence for actively promoting sustainable development and improving the construction of medical security system.
Highlights
One hundred and seventy eight nations signed the Paris Agreement, committing to work together to fight global climate change in 2016
The results showed that the demand for commercial health insurance increased by 6.76% for every 1◦F increase in abnormal high temperature, and the result was significant at the 5% significance level
Based on Charls, this paper studies the impact of abnormal hot temperature on the demand for commercial health insurance for the middle-aged and elderly in China
Summary
One hundred and seventy eight nations signed the Paris Agreement, committing to work together to fight global climate change in 2016. Studies show that climate change will harm the living environment of humans [1] and affect investment behavior [2], social responsibility [3, 4], purchasing behavior [5, 6] and other economic activities. It is found that extreme temperatures have surged around the world in the past 20 years. It is necessary to study the impact of extreme temperatures on human health and economic activities. This paper explores the response of Chinese middle-aged and elderly people to abnormal temperatures. We use household-level data come from China Health and Pension Tracking Survey (hereinafter Charls) in 2011, 2013 and 2015, to study whether the demand for commercial medical insurance of the elderly over 45 years old in Chinese provinces is related to abnormal temperature. We aim to explore whether abnormal temperature can be perceived by individuals and increase individuals’ concerns about their own health
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