Stock market risk and suicide

Abstract

We study the effects of stock market returns and volatility on suicide. Using data from stock market prices and individual-level death records from 2000 to 2019 in South Korea, we document evidence that one standard deviation increase in stock market volatility increases suicide rate by 3.5%. Unlike the findings of previous studies regarding the relationships between stock market returns and other measures of health, we document evidence of the non-linear effects of stock market returns on suicide rates only. This study contributes to the literature by providing novel evidence on the effects of the risk of household investments on investors' health.