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Financial Strain and Mental Health Among Older Adults During the Great Recession

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  • Lindsay R. Wilkinson

Abstract

Objectives. The economic recession has garnered the interest of many scholars, with much attention being drawn to how the recession has affected labor force participation, household wealth, and even retirement decisions. Certainly, the Great Recession has influenced the financial well-being of older adults, but has it had discernible effects on mental health?

Suggested Citation

  • Lindsay R. Wilkinson, 2016. "Financial Strain and Mental Health Among Older Adults During the Great Recession," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 71(4), pages 745-754.
    • Handle: RePEc:oup:geronb:v:71:y:2016:i:4:p:745-754.
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    File URL: http://hdl.handle.net/10.1093/geronb/gbw001
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    References listed on IDEAS

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    1. Michael D. Hurd & Susann Rohwedder, 2010. "Effects of the Financial Crisis and Great Recession on American Households," NBER Working Papers 16407, National Bureau of Economic Research, Inc.
    2. Alan L. Gustman & Thomas L. Steinmeier & Nahid Tabatabai, 2011. "How Did the Recession of 2007-2009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?," NBER Working Papers 17547, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Adam N. Collinge & Peter A. Bath, 2023. "Socioeconomic Background and Self-Reported Sleep Quality in Older Adults during the COVID-19 Pandemic: An Analysis of the English Longitudinal Study of Ageing (ELSA)," IJERPH, MDPI, vol. 20(5), pages 1-19, March.
    2. Shinae Choi & Melissa J. Wilmarth, 2019. "The Moderating Role of Depressive Symptoms Between Financial Assets and Bequests Expectation," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 498-510, September.
    3. Wei Yang & Bo Hu, 2022. "Catastrophic Health Expenditure and Mental Health in the Older Chinese Population: The Moderating Role of Social Health Insurance," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 77(1), pages 160-169.
    4. Vieri Lastrucci & Chiara Lorini & Saverio Caini & Florence Health Literacy Research Group & Guglielmo Bonaccorsi, 2019. "Health literacy as a mediator of the relationship between socioeconomic status and health: A cross-sectional study in a population-based sample in Florence," PLOS ONE, Public Library of Science, vol. 14(12), pages 1-14, December.
    5. Hawkley, Louise C. & Zheng, Boyan & Song, Xi, 2020. "Negative financial shock increases loneliness in older adults, 2006–2016: Reduced effect during the Great Recession (2008–2010)," Social Science & Medicine, Elsevier, vol. 255(C).
    6. Woochul Park & Jinhee Kim, 2018. "How Are Money Worries Affecting Middle-Aged, Young-Old, and Old–Old People’s Perceived Couple Relationship?," Journal of Family and Economic Issues, Springer, vol. 39(1), pages 34-48, March.
    7. Esteban Sánchez-Moreno & Lorena P. Gallardo-Peralta, 2022. "Income inequalities, social support and depressive symptoms among older adults in Europe: a multilevel cross-sectional study," European Journal of Ageing, Springer, vol. 19(3), pages 663-675, September.
    8. Dana A Glei & Noreen Goldman & Maxine Weinstein, 2019. "A growing socioeconomic divide: Effects of the Great Recession on perceived economic distress in the United States," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-24, April.
    9. Wilkinson, Lindsay R. & Schafer, Markus H. & Wilkinson, Renae, 2020. "How painful is a recession? An assessment of two future-oriented buffering mechanisms," Social Science & Medicine, Elsevier, vol. 255(C).
    10. Stephen Roll & Olga Kondratjeva & Sam Bufe & Michal Grinstein-Weiss & Stephanie Skees, 2022. "Assessing the Short-Term Stability of Financial Well-Being in Low- and Moderate-Income Households," Journal of Family and Economic Issues, Springer, vol. 43(1), pages 100-127, March.
    11. Choi, Shinae L. & Lee, Yoon G., 2023. "Financial hardship and change in emotional well-being before to during COVID-19 pandemic among middle-aged and older Americans: Moderating effects of internal coping resources," Social Science & Medicine, Elsevier, vol. 317(C).
    12. Olivio J Clay & Martinique Perkins & Gail Wallace & Michael Crowe & Patricia Sawyer & Cynthia J Brown, 2018. "Associations of Multimorbid Medical Conditions and Health-Related Quality of Life Among Older African American Men," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 73(2), pages 258-266.
    13. Emily Brown Weida & Pam Phojanakong & Falguni Patel & Mariana Chilton, 2020. "Financial health as a measurable social determinant of health," PLOS ONE, Public Library of Science, vol. 15(5), pages 1-14, May.
    14. Tonje Holte Stea & Linn Alvsvåg & Annette Løvheim Kleppang, 2021. "The Association between Dietary Habits, Substance Use, and Mental Distress among Adults in Southern Norway: A Cross-Sectional Study among 28,047 Adults from the General Population," IJERPH, MDPI, vol. 18(18), pages 1-13, September.

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