1. The impact of financial insecurity on self-reported health: Europe in cross-national perspective.
- Author
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Blázquez, Maite and Moro-Egido, Ana I.
- Subjects
LOSS aversion ,PROSPECT theory ,SCARS - Abstract
Using the EU-SILC 2008 module on over-indebtedness and financial exclusion, this paper analyses how perceived future-orientated economic insecurity alters individual self-assessed health (SAH), once controlling for past and current financial situation in a range of European countries. Those effects differ by gender and by country. Our results also suggest that country characteristics explain a larger part of the unknown variability of individual levels of SAH than individual-household characteristics. Thus, our findings might be of help in designing the most effective policies intended to alleviate the individual welfare costs of perceived financial insecurity provoked by upcoming business-cycle downturns. • There is a significant effect of past financial strain on current levels of self-assessed health (scarring effect). • Perceived future-orientated economic insecurity alters individual self-assessed health (loss aversion). • Those effects differ by gender and by country. • Country characteristics explain a larger part of the unknown variability of self-assessed health. • The importance of country characteristics varies by gender, being more relevant for females. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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