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Macroeconomic Shocks, Job Security and Health: Evidence from the Mining Industry

Shields, M., Johnston, D. W. and Suziedelyte, A. ORCID: 0000-0003-2420-9231 (2020). Macroeconomic Shocks, Job Security and Health: Evidence from the Mining Industry. American Journal of Health Economics, 6(3), doi: 10.1086/708929

Abstract

How do exogenous changes in the macroeconomic environment affect workers’ perceived job security, and consequently, their mental and physical health? To answer this question, we exploit variation in world commodity prices over the period 2001-17 and analyse panel data that includes detailed classifications of mining workers. We find that commodity price increases cause increases in perceived job security, which in turn, significantly and substantively improve the mental health of workers. In contrast, we find no effects on physical health. Our results imply that the estimated welfare costs of recessions are much larger when the effects of job insecurity, and not only unemployment, are considered.

Publication Type: Article
Additional Information: Published in American Journal of Health Economics. Copyright, MIT Press 2020.
Publisher Keywords: Job Security, Health, Commodity Prices, Mining
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
R Medicine > RA Public aspects of medicine
Departments: School of Arts & Social Sciences > Economics
Date Deposited: 01 May 2020 10:17
URI: https://openaccess.city.ac.uk/id/eprint/23957
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