Using aggregate panel data methods, it has been found that mortality is procyclical in Germany (Neumayer 2004) and in Spain (Granados 2005b). The study by Gerdtham and Ruhm (2006) of aggregated data from 23 Organisation of Economic Co-Operation and Development (OECD) countries showed overall pro-cyclical mortality. Gonzalez and Quast (2010) also found pro-cyclical mortality for Mexico. However, Gerdtham and Johannesson (2005), using individual level data, found that mortality is counter-cyclical in nature for Swedish males, while female mortality
appeared unaffected by business cycles. Similar counter-cyclical results were established by Economou et al. (2008) in their study of the effects of economic recessions on mortality for 13 European Union countries.