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The Wealth, Health and Wellbeing of Ireland's Older People Before and During the Economic Crisis

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  • Barrett, Alan

    ()
    (ESRI, Dublin)

  • O'Sullivan, Vincent

    ()
    (Trinity College Dublin)

Abstract

The economic crisis of 2008/9 was felt more acutely in Ireland relative to elsewhere and culminated in the international bailout in 2010. Given the economic collapse, Ireland provides an ideal case-study of the link between wealth collapses and movements in variables such as health and well-being. Using nationally-representative samples of older people collected before and during the crisis, we show that mean net assets fell by 45 percent between 2006/7 and 2012/13. In spite of this massive fall in wealth, measures of health and well-being remained broadly unchanged. However, expectations about future living standards became less optimistic. The results tend to support the findings of other recent studies that recessions do not have widespread negative effects on health and well-being.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7832.

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Length: 11 pages
Date of creation: Dec 2013
Date of revision:
Publication status: published in: Applied Economics Letters, 2014, 21 (10), 675-678
Handle: RePEc:iza:izadps:dp7832

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Keywords: wellbeing; health; wealth; recession;

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  1. Erdal Tekin & Chandler McClellan & Karen Jean Minyard, 2013. "Health and Health Behaviors during the Worst of Times: Evidence from the Great Recession," NBER Working Papers 19234, National Bureau of Economic Research, Inc.
  2. Christopher J. Ruhm, 1996. "Are Recessions Good For Your Health?," NBER Working Papers 5570, National Bureau of Economic Research, Inc.
  3. Christopher J. Ruhm, 2013. "Recessions, Healthy No More?," NBER Working Papers 19287, National Bureau of Economic Research, Inc.
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