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AbstractExisting research indicates that gender disparities in mental health contribute to gender disparities in physical health. However, the observed relationship might be driven by the endogeneity of mental health. By combining high‐quality panel data with standard estimation techniques, we initially confirm the previous findings. In contrast, when we account for the endogeneity of mental health using the death of a relative and the death of a spouse as instruments, we observe a change in the existing result. Although the positive and significant impact of mental health on physical health persists, the disparity between women and men becomes negligible.

The study of conflicts over natural resources is neither governed by a coherent set of theories nor limited by strict disciplinary boundaries. Rather, it encompasses a multitude of conceptions grounded within a wide array of disciplines and epistemological assumptions concerning the links between institutional change and conflicts, often concluding in contradictory propositions. This article aims at providing conceptual guidance for the special issue, by reviewing institutional research with a particular focus on institutional change and associated conflicts and drawing some implications from transformative settings. More specifically, the paper explores certain propositions and concepts utilised by institutional economists to explain why conflicts persist despite institutional reforms explicitly or implicitly introduced to resolve them. The author revisits diverse cases from different regions to investigate key concepts related to institutional change and its implications on environmental conflicts associated to transformations, complementing this view from a political science perspective. The paper concludes by offering an overview of factors identified as instrumental in understanding the institutional change and conflict–cooperation continuum.

AbstractWe examine the impact of mental health on financial risk attitudes using panel data from Australia. In an instrumental‐variables framework that tries to address the endogeneity of mental health, we find that poor mental health can lead to a higher willingness to take risks. Specifically, a standard deviation decrease in mental health leads to a 10.3 percentage point increase in the likelihood of taking financial risks. This finding remains robust across various sensitivity checks and highlights the significant role that mental health plays in risk‐taking preferences in financial matters.

Hip replacement is the most common surgical procedure among Medicare patients in the US and worldwide. The hospital length of stay (LOS) for hip replacement admissions is therefore important to be controlled, contributing to savings for hospitals. This study combined medical claims and hospital structure and service data to examine LOS fluctuations and trends, and admission distribution patterns, during weekdays, for hip replacement cases. The study furthermore examined associations of these patterns with the LOS performance. Most hospitals were found to admit hip replacement cases at the start of the week (Monday through Wednesday). There is an upward LOS trend as we approach late weekday admissions. Multiple linear regression analysis showed that LOS weekday inconsistencies, a large proportion of hip replacement admissions on Thursday and Friday, the government ownership status, the bed size, and the critical access status are associated with an increased LOS. On the other hand, the rate of hip replacement admissions over total ones, and the hospital being accredited, are associated with a lower LOS. Findings stress out the need for hospitals to maintain an effective and balanced distribution of hip replacement admissions, evenly during the week, and the need for standardized case management, to avoid practice variability and, therefore, LOS fluctuations for their hip replacement cases.

There is a large literature showing that unemployment reduces people's well‐being. Yet little is known about the reverse possibility, namely that well‐being itself may influence unemployment propensity. Understanding the potentials of human well‐being in relation to unemployment is important as many developed countries are currently facing high unemployment rates. As well‐being is likely to be endogenous, we use British panel data and implement Lewbel's novel empirical approach for identification. We show that higher well‐being implies a negative causal effect on the probability of being unemployed. The result holds for two very different well‐being measures: life satisfaction and a 12‐item scale of mental health. As such, it provides new empirical evidence on the causal link between well‐being and unemployment propensity. (JEL D03, I31)

AbstractThis article examines the direct effects of retirement on health, as well as its indirect effects, through a mediation analysis. Using Australian panel data, analysis reveals that changes in retirement status and retirement duration imply positive causal effects on self‐assessed health as well as physical health and mental health. Gender plays an important role in shaping these relationships. For women, the positive relationship between retirement duration and health can be attributed to physical activity. In contrast, men appear to enjoy better health when staying retired for longer because they participate more in outdoor activities.

In this paper, we develop a network formation game in order to study how free trade agreements among countries and R&D networks among firms emerge in equilibrium. Prior research showed that free trade agreements discourage the formation of international R&D networks under the assumption that trade tariffs are exogenous. In contrast, we allow for endogenous trade tariffs, and show that free trade agreements promote R&D collaboration between firms. In terms of efficiency, we find that although countries can achieve an outcome that is socially desirable, the number of R&D collaborations between firms is likely to be excessive from a social viewpoint.

AbstractIn this paper, we examine the dynamic relationship between physical and mental health. We ask whether and to what extent mental health affects subsequent physical health, and drawing eight waves of panel data from the Household Income and Labour Dynamics of Australia (HILDA) Survey, use a dynamic panel estimator with instrumental variables for identification. We find that good past mental health promotes present physical health. We also show that good past physical health predicts good present physical health. Our findings imply that policies and intervention programs should focus on helping individuals with mental health conditions to reduce the risk of negative spillover effects on their physical health.