“…The change in the trend from earlier years may be a consequence of the Asian financial crisis in 1997, which hit the Japanese economy and its people hard. Studies have indicated both a positive and negative relationship between macroeconomic conditions and health, with various mechanisms-such as changes in stress levels, risk-taking, lifestyle and health behaviours, human capital investments, opportunity cost of time, unemployment levels, relative income, and relative price of medical care-linking the two variables (Ruhm 2000;Tapia Granados 2008;Brenner and Mooney 1983;Fenwick and Tausig 1994;Catalano and Dooley 1983). In two recent longitudinal studies conducted in Denmark and the United States, a decline in self-rated health was shown to be causally linked to worries about financial difficulties and job insecurities (Rugulies et al 2008;Angel et al 2003).…”