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

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

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.

Suggested Citation

  • Niedzwiedz, C.L. & Pell, J.P. & Mitchell, R., 2015. "The relationship between financial distress and life-course socioeconomic inequalities in well-being: Cross-national analysis of European welfare states," American Journal of Public Health, American Public Health Association, vol. 105(10), pages 2090-2098.
    • Handle: RePEc:aph:ajpbhl:10.2105/ajph.2015.302722_9
    DOI: 10.2105/AJPH.2015.302722
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    Cited by:

    1. Hideko Matsuo & Koen Matthijs, 2021. "The life course and subjective well-being across generations – an analysis based on cross-national surveys (2002–2016)," Vienna Yearbook of Population Research, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna, vol. 19(1), pages 417-466.
    2. Mahendru, Mandeep & Sharma, Gagan Deep & Pereira, Vijay & Gupta, Mansi & Mundi, Hardeep Singh, 2022. "Is it all about money honey? Analyzing and mapping financial well-being research and identifying future research agenda," Journal of Business Research, Elsevier, vol. 150(C), pages 417-436.
    3. Ina Schöllgen & Norbert Kersten & Uwe Rose, 2019. "Income Trajectories and Subjective Well-Being: Linking Administrative Records and Survey Data," IJERPH, MDPI, vol. 16(23), pages 1-14, November.
    4. Aleksandra Bujacz & Constanze Eib & Susanna Toivanen, 2020. "Not All Are Equal: A Latent Profile Analysis of Well-Being Among the Self-Employed," Journal of Happiness Studies, Springer, vol. 21(5), pages 1661-1680, June.
    5. Bambra, Clare & Smith, Katherine E. & Pearce, Jamie, 2019. "Scaling up: The politics of health and place," Social Science & Medicine, Elsevier, vol. 232(C), pages 36-42.
    6. Ana Isabel Ribeiro & Elias Teixeira Krainski & Marilia Sá Carvalho & Guy Launoy & Carole Pornet & Maria de Fátima Pina, 2018. "Does community deprivation determine longevity after the age of 75? A cross-national analysis," International Journal of Public Health, Springer;Swiss School of Public Health (SSPH+), vol. 63(4), pages 469-479, May.
    7. Cäzilia Loibl & Wändi Bruine de Bruin & Barbara Summers & Simon McNair & Pieter Verhallen, 2022. "Which financial stressors are linked to food insecurity among older adults in the United Kingdom, Germany, and the Netherlands? An exploratory study," Food Security: The Science, Sociology and Economics of Food Production and Access to Food, Springer;The International Society for Plant Pathology, vol. 14(2), pages 533-556, April.
    8. Robert Ribanszki & Katie S Taylor & Johanna Scheutzow & Jose Andres Saez Fonseca & Sonia Ponzo, 2022. "Welfare systems and mental health in OECD and EEA countries: a scoping review," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-10, December.

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