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Financial insecurity and subjective well-being. Europe in crossnational perspective

Maite Blázquez Cuesta () and Ana I. Moro Egido ()
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Ana I. Moro Egido: Department of Economic Theory and Economic History, University of Granada.

Authors registered in the RePEc Author Service: Ana Isabel Moro-Egido ()

No 20/07, ThE Papers from Department of Economic Theory and Economic History of the University of Granada.

Abstract: Using the EU-SILC 2008 module on over-indebtedness and financial exclusion, this paper analyses how perceived future-orientated economic insecurity alters individual subjective well-being measured as self-assessed health, 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 support the hypothesis suggesting 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 for politicians and policymakers in designing the most effective policies intended to alleviate the individual welfare costs of perceived financial insecurity provoked by upcoming business-cycle downturns, like the current COVID-19-triggered economic slowdown.

Keywords: Financial insecurity; cross country differences; multilevel techniques. (search for similar items in EconPapers)
JEL-codes: C29 G50 I31 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2020-08-08
New Economics Papers: this item is included in nep-eur and nep-hap
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