title: The wealth effects of smoking.
abstract: OBJECTIVE
  To investigate the impact of smoking on the wealth of US young baby boomers.
  
  
  METHODS
  The research analyses self reported responses of both smoking habits and wealth holdings from a nationally representative sample of US individuals born between 1957 to 1964 (n = 8908). Data are from four waves (1984, 1992, 1994, 1998) of the National Longitudinal Survey of Youth 1979 cohort, a random survey of individuals conducted by the US Department of Labor using a stratified multistage area sample design.
  
  
  RESULTS
  Regression results show lower net worth is associated with smoking, after holding constant a variety of demographic factors. Respondents who were ever heavy smokers are associated with a reduction in net worth of over 8300 dollars while light smokers are 2000 dollars poorer compared to non-smokers. Beyond this reduction, each adult year of smoking is associated with a decrease in net worth of 410 dollars or almost 4%.
  
  
  CONCLUSIONS
  While a causal relation cannot be proven, smokers appear to pay for tobacco expenditures out of income that is saved by non-smokers. Hence, reductions in smoking will boost wealth, especially among the poor.
authors.affiliation: Center For Human Resource Research, Ohio State University, 921 Chatham Lane, Suite 100, Columbus, Ohio 43221, USA. zagorsky.1@osu.edu
authors.forename: J L
authors.initials: JL
authors.lastname: Zagorsky
mesh_terms: D000328:Adult; D005260:Female; D006801:Humans; D007182:Income; D007360:Intelligence; D008137:Longitudinal Studies; D008297:Male; D017533:Marital Status; D015995:Prevalence; D012309:Risk-Taking; D017678:Sex Distribution; D012907:Smoking / Q000191:economics* / Q000453:epidemiology / Q000208:ethnology; D012923:Social Class; D013997:Time Factors; D014481:United States / Q000453:epidemiology