Fig. 3

Predicted values of impairments at the lowest and highest values of the macro-level factors against the lowest and highest values of wealth. Panel A: Physical impairments. Panel B: Cognitive impairments. Notes: The graphs plot predicted values of physical and cognitive impairments (y-axis) at specific values of the macro-level factors (lowest and highest) against the lowest and highest values of wealth (x-axis). The circle and square markers indicate the lowest and highest values of the macro-level factors. Wealth is defined as the sum of net real and net financial assets minus debts, and thus contains negative values. Public health spending and OOP payments are measured compared with total health spending, expressed as a percentage of GDP. Doctor and Hospital refers to the number of doctors, and hospital beds (private and public), per 1,000 inhabitants, respectively