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Author: Tai, Mingzhu
Resulting in 1 citation.
1. Hu, Qing
Levine, Ross
Lin, Chen
Tai, Mingzhu
Mentally Spent: Credit Conditions and Mental Health
NBER Working Paper No. 25584, National Bureau of Economic Research, February 2019.
Also: https://www.nber.org/papers/w25584
Cohort(s): NLSY79
Publisher: National Bureau of Economic Research (NBER)
Keyword(s): Credit/Credit Constraint; Debt/Borrowing; Depression (see also CESD); Geocoded Data; Health, Mental; State-Level Data/Policy

In light of the human suffering and economic costs associated with mental illness, we provide the first assessment of whether local credit conditions shape the incidence of mental depression. Using several empirical strategies, we discover that bank regulatory reforms that improved local credit conditions reduced mental depression among low-income households and the impact was largest in counties dominated by bank-dependent firms. On the mechanisms, we find that the regulatory reforms boosted employment, income, and mental health among low-income individuals in bank-dependent counties, but the regulatory reforms did not increase borrowing by these individuals.
Bibliography Citation
Hu, Qing, Ross Levine, Chen Lin and Mingzhu Tai. "Mentally Spent: Credit Conditions and Mental Health." NBER Working Paper No. 25584, National Bureau of Economic Research, February 2019.