Estimating the cost of mental illness in Australia: a standard of living approach

Nghiem, Son and Khanam, Rasheda and Vu, Xuan-Binh (Benjamin) and Tran, Bach Xuan (2019) Estimating the cost of mental illness in Australia: a standard of living approach. Discussion Paper. University Of Southern Queensland . [Report]

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Abstract

This paper estimates the costs of mental health in Australia using the standard-of-living approach. We analyse data from the Household, Income and Labour Dynamics in Australia Survey using an extended random-effects estimator. To the best of our knowledge, this is the first study to examine the cost of mental illness in Australia using the standard of living approach with a nationally representative longitudinal data set. Results from the main specification show that people with a mental illness need to increase their equivalised disposable income by 50% to achieve a similar living standard as those without a mental illness. The cost estimates vary considerably with measures of mental illness and standard of living. An alternative measure of mental illness using the first quintile of the SF-36 mental health score distribution resulted in an increase of estimated costs to 80% equivalised disposable income.


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Item Type: Report (Discussion Paper)
Item Status: Live Archive
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Commerce
Date Deposited: 08 Apr 2019 06:19
Last Modified: 11 Apr 2019 04:47
Uncontrolled Keywords: cost of mental illness; standard of living approach; panel data; extended random-effects estimator; Australia
Fields of Research : 14 Economics > 1402 Applied Economics > 140208 Health Economics
URI: http://eprints.usq.edu.au/id/eprint/36264

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