The economic impact of the first wave of the pandemic on 50+ Europeans

Andrea Bonfatti (), Greta Pesaresi (), Guglielmo Weber () and Nancy Zambon ()
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Andrea Bonfatti: Padua University and Prometeia
Greta Pesaresi: Padua University
Guglielmo Weber: Padua University and IFS
Nancy Zambon: Padua University

Empirical Economics, 2023, vol. 65, issue 2, No 3, 607-659

Abstract: Abstract We analyse the effects of the first wave of the COVID-19 crisis on the economic situation of 50+ Europeans. We construct a financial distress indicator that captures experiencing an income loss, difficulties to make ends meet and the need to postpone payments. We find that education and income before the pandemic has a protective role, and so does being past retirement age. For households under retirement age, instead, the pandemic has exacerbated inequalities. We also investigate whether households report worse difficulties in making ends meet compared to the pre-COVID-19 period. We show that their ability to make ends meet worsens more with income losses during the pandemic compared to losses experienced in the two-year period before the pandemic.

Keywords: COVID-19; SHARE; Financial distress; Household economic conditions (search for similar items in EconPapers)
JEL-codes: D31 I32 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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DOI: 10.1007/s00181-022-02349-8

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