The relationship between financial distress and life-course socioeconomic inequalities in well-being: Cross-national analysis of European welfare states

C.L. Niedzwiedz, J.P. Pell and R. Mitchell

American Journal of Public Health, 2015, vol. 105, issue 10, 2090-2098

Abstract: Objectives. We investigated to what extent current financial distress explains the relationship between life-course socioeconomic position and well-being in Southern, Scandinavian, Postcommunist, and Bismarckian welfare regimes. Methods. We analyzed individuals (n = 18 324) aged 50 to 75 years in the Survey of Health, Ageing, and Retirement in Europe, 2006?2009. Well-being was measured with CASP-12 (which stands for control, autonomy, self-realization, and pleasure) and life satisfaction. We generated a life-course socioeconomic index from 8 variables and calculated multilevel regression models (containing individuals nested within 13 countries), as well as stratified single-level models by welfare regime. Results. Life-course socioeconomic advantage was related to higher wellbeing; the difference in life satisfaction between the most and least advantaged was 2.09 (95% confidence interval = 1.87, 2.31) among women and 1.65 (95% confidence interval = 1.43, 1.87) among men. The weakest associations were found among Scandinavian countries. Financial distress was associated with lower well-being and attenuated the relationship between life-course socioeconomic position and well-being in all regimes (ranging from 34.26% in Postcommunist to 72.22% in Scandinavian countries). Conclusions. We found narrower inequalities in well-being in the Scandinavian regime. Reducing financial distress may help improve well-being and reduce inequalities.

Keywords: aged; cultural factor; Europe; female; health disparity; health survey; human; longitudinal study; male; middle aged; satisfaction; social class; social welfare, Aged; Cross-Cultural Comparison; Europe; Female; Health Status Disparities; Health Surveys; Humans; Longitudinal Studies; Male; Middle Aged; Personal Satisfaction; Social Class; Social Welfare (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:aph:ajpbhl:10.2105/ajph.2015.302722_9

DOI: 10.2105/AJPH.2015.302722

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