RIEB Discussion Paper Series No.2024-10

Title

How Do Relative Concerns Affect Mental Health among Elderly Japanese?

Abstract

It is well-known today that mental health is affected not only by absolute income but also by income relative to others. This study investigates the association between relative income and mental health using individual panel data from the National Survey of the Japanese Elderly. The results reveal that relative income affects mental health among Japanese early elderly females: Mental health deteriorates when the income of surrounding people increases. This effect remains even after controlling for unobserved time-invariant factors and observed socioeconomic and sociodemographic factors.

Keywords

Mental health; Relative income; Aging; The National Survey of the Japanese Elderly

JEL Classification

C23, I14, J14

Inquiries

Yumi ISHIKAWA
Research Institute for Economics and Business Administration (RIEB)
Kobe University
Rokkodai-cho, Nada-ku, Kobe
657-8501 Japan
Phone: +81-78-803-7036
FAX: +81-78-803-7059