The Consequences of Financial Hardship (and Recessions) on Income and Welfare
The Consequences of Financial Hardship (and Recessions) on Income and Welfare
This chapter uses life-history data covering a number of European countries (SHARELIFE) to analyse the long-term effects of a financial hardship episode on different indicators of well-being. We study individual earnings (at the time of the survey for the employed, at the time of the main job for the retired), as a measure of labour market success; household food consumption (as a living standard indicator), and a permanent income measure. We look at two distinct health measures: one that is based on objective conditions; the other that is a self-reported health status variable that captures both objective health and the individual perception of it. In all cases we are able to show not only the effects of a financial hardship episode, of its length and timing in life, but also the differential impact such an episode has if experienced at school-leaving age or during an economic downturn.
Keywords: financial hardship, scarring effects, permanent income, Engel curve, welfare, well-being, health, subjective health, perceptions
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .
