How do exogenous changes in the macroeconomic environment affect workers’ perceived job security, and consequently, their mental and physical health? To answer this question, we exploit variation in world commodity prices over the period 2001–17 and analyze panel data that include detailed classifications of mining workers. We find that commodity price increases cause increases in perceived job security, which in turn, significantly and substantively improves the mental health of workers. In contrast, we find no effects on physical health. Our results imply that the estimated welfare costs of recessions are much larger when the effects of job insecurity, and not only unemployment, are considered.

中文翻译：

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宏观经济冲击，工作安全与健康：采矿业的证据

宏观经济环境的外源变化如何影响工人的感知工作安全，进而影响他们的身心健康？为了回答这个问题，我们利用了2001-17年间世界大宗商品价格的变化，并分析了包括采矿工人详细分类的面板数据。我们发现，商品价格上涨会导致人们对工作安全感的提高，进而显着，实质性地改善工人的心理健康。相反，我们发现对身体健康没有影响。我们的结果表明，如果考虑工作不安全感的影响，而不仅仅是失业，经济衰退的估计福利成本要大得多。