The impact of financial insecurity on self-reported health: Europe in cross-national perspective

Maite Blázquez Cuesta and Ana Moro-Egido

Economic Analysis and Policy, 2023, vol. 80, issue C, 1123-1137

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.

Keywords: Self-assessed health; Financial insecurity; Cross country differences; Prospect theory; Loss aversion; Scarring and anticipation effects; Multilevel techniques (search for similar items in EconPapers)
JEL-codes: C29 D14 I31 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:80:y:2023:i:c:p:1123-1137

DOI: 10.1016/j.eap.2023.09.038

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