Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis

We evaluate the association between the variations in income and wealth, (both aggregate and split between real estate and financial wealth), and self-perceived health in Spain using a longitudinal sample of individuals before and after the financial crisis. We estimated generalized linear mixed mod...

Descripción completa

Detalles Bibliográficos
Autores: López i Casasnovas, Guillem, Sáez Zafra, Marc
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2020
País:España
Institución:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:10256/18516
Acceso en línea:http://hdl.handle.net/10256/18516
Access Level:acceso abierto
Palabra clave:Recessions econòmiques
Recessions
Salut
Health
Riquesa
Wealth
Crisi financera global, 2007-2009 -- Aspectes sanitaris
Global Financial Crisis, 2008-2009 -- Health aspects
id ES_36a0bbde830e94d12767eb3cba651921
oai_identifier_str oai:recercat.cat:10256/18516
network_acronym_str ES
network_name_str España
repository_id_str
spelling Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisisLópez i Casasnovas, GuillemSáez Zafra, MarcRecessions econòmiquesRecessionsSalutHealthRiquesaWealthCrisi financera global, 2007-2009 -- Aspectes sanitarisGlobal Financial Crisis, 2008-2009 -- Health aspectsWe evaluate the association between the variations in income and wealth, (both aggregate and split between real estate and financial wealth), and self-perceived health in Spain using a longitudinal sample of individuals before and after the financial crisis. We estimated generalized linear mixed models, with a binomial response and a logistic link, for four waves of the Spanish Survey of Household Finances (two before and two after the crisis), adjusting for variables at the family and individual levels. We also controlled for familial and individual heterogeneity and for temporal trends. While an increase in wealth greatly increases the probability of younger individuals reporting better health, this is not the case for older individuals. Decreases in gross wealth are associated with decreases in the probability of declaring good/very good health only in families whose reference person is over 44 years old. We conclude that: (i) not just income but net wealth effects impact on the consequences of income fluctuations on consumption and health assessed, (ii) the composition of individuals’ net wealth may also matter, since they are differently affected by the shocks in the economic crisis, (iii) age plays a significant role and, finally, (iv) individual reactions in terms of consumption and savings, given any level of income and wealth, according to the risk aversions for precautionary idiosyncratic motives, may also need to be considered in order to complete the picture.This work was partly funded by the project ‘ECO2017-88609-R’ of the European Regional Development Fund (FEDER) and the project ‘ECO2012-47496’ of the Agencia Estatal de Investigación (AEI) and by an unrestricted grant from Obra Social ‘La CaixaMDPI (Multidisciplinary Digital Publishing Institute)2020info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionpeer-reviewedapplication/pdfhttp://hdl.handle.net/10256/18516http://hdl.handle.net/10256/18516International Journal of Environmental Research and Public Health, 2020, vol. 17, núm. 19, p. 7018Articles publicats (D-EC)reponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)Inglésinfo:eu-repo/semantics/altIdentifier/doi/10.3390/ijerph17197018info:eu-repo/semantics/altIdentifier/issn/1661-7827info:eu-repo/semantics/altIdentifier/eissn/1660-4601Attribution 4.0 Internationalhttp://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:recercat.cat:10256/185162026-05-29T05:05:01Z
dc.title.none.fl_str_mv Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
title Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
spellingShingle Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
López i Casasnovas, Guillem
Recessions econòmiques
Recessions
Salut
Health
Riquesa
Wealth
Crisi financera global, 2007-2009 -- Aspectes sanitaris
Global Financial Crisis, 2008-2009 -- Health aspects
title_short Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
title_full Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
title_fullStr Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
title_full_unstemmed Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
title_sort Saved by wealth? Income, wealth, and self-perceived health in Spain during the financial crisis
dc.creator.none.fl_str_mv López i Casasnovas, Guillem
Sáez Zafra, Marc
author López i Casasnovas, Guillem
author_facet López i Casasnovas, Guillem
Sáez Zafra, Marc
author_role author
author2 Sáez Zafra, Marc
author2_role author
dc.subject.none.fl_str_mv Recessions econòmiques
Recessions
Salut
Health
Riquesa
Wealth
Crisi financera global, 2007-2009 -- Aspectes sanitaris
Global Financial Crisis, 2008-2009 -- Health aspects
topic Recessions econòmiques
Recessions
Salut
Health
Riquesa
Wealth
Crisi financera global, 2007-2009 -- Aspectes sanitaris
Global Financial Crisis, 2008-2009 -- Health aspects
description We evaluate the association between the variations in income and wealth, (both aggregate and split between real estate and financial wealth), and self-perceived health in Spain using a longitudinal sample of individuals before and after the financial crisis. We estimated generalized linear mixed models, with a binomial response and a logistic link, for four waves of the Spanish Survey of Household Finances (two before and two after the crisis), adjusting for variables at the family and individual levels. We also controlled for familial and individual heterogeneity and for temporal trends. While an increase in wealth greatly increases the probability of younger individuals reporting better health, this is not the case for older individuals. Decreases in gross wealth are associated with decreases in the probability of declaring good/very good health only in families whose reference person is over 44 years old. We conclude that: (i) not just income but net wealth effects impact on the consequences of income fluctuations on consumption and health assessed, (ii) the composition of individuals’ net wealth may also matter, since they are differently affected by the shocks in the economic crisis, (iii) age plays a significant role and, finally, (iv) individual reactions in terms of consumption and savings, given any level of income and wealth, according to the risk aversions for precautionary idiosyncratic motives, may also need to be considered in order to complete the picture.
publishDate 2020
dc.date.none.fl_str_mv 2020
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
peer-reviewed
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/10256/18516
http://hdl.handle.net/10256/18516
url http://hdl.handle.net/10256/18516
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/doi/10.3390/ijerph17197018
info:eu-repo/semantics/altIdentifier/issn/1661-7827
info:eu-repo/semantics/altIdentifier/eissn/1660-4601
dc.rights.none.fl_str_mv Attribution 4.0 International
http://creativecommons.org/licenses/by/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Attribution 4.0 International
http://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv MDPI (Multidisciplinary Digital Publishing Institute)
publisher.none.fl_str_mv MDPI (Multidisciplinary Digital Publishing Institute)
dc.source.none.fl_str_mv International Journal of Environmental Research and Public Health, 2020, vol. 17, núm. 19, p. 7018
Articles publicats (D-EC)
reponame:Recercat. Dipósit de la Recerca de Catalunya
instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
instname_str Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
reponame_str Recercat. Dipósit de la Recerca de Catalunya
collection Recercat. Dipósit de la Recerca de Catalunya
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1869405977630998528
score 15.812429

Similares en LA Referencia