Next Article in Journal
Analysis of Performance Parameters of the Smash in Male and Female Professional Padel
Previous Article in Journal
Canan Outdoor Multisurface Terrain Enhance the Effects of Fall Prevention Exercise in Older Adults? A Randomized Controlled Trial
Open AccessArticle

Saved by Wealth? Income, Wealth, and Self-Perceived Health in Spain during the Financial Crisis

by Guillem López-Casasnovas 1,2,3 and Marc Saez 1,4,5,*
1
Center for Research in Health and Economics (CRES), Universitat Pompeu Fabra, 08005 Barcelona, Spain
2
Department of Economics and Business, Universitat Pompeu Fabra, 08005 Barcelona, Spain
3
Barcelona Graduate School (BGSE), Universitat Pompeu Fabra, 08005 Barcelona, Spain
4
Research Group on Statistics, Econometrics and Health (GRECS), University of Girona, 17003 Girona, Spain
5
CIBER of Epidemiology and Public Health (CIBERESP), 28029 Madrid, Spain
*
Author to whom correspondence should be addressed.
Int. J. Environ. Res. Public Health 2020, 17(19), 7018; https://doi.org/10.3390/ijerph17197018
Received: 26 August 2020 / Revised: 21 September 2020 / Accepted: 22 September 2020 / Published: 25 September 2020
(This article belongs to the Section Health Economics)
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. View Full-Text
Keywords: self-assessed health; wealth; wealth composition self-assessed health; wealth; wealth composition
MDPI and ACS Style

López-Casasnovas, G.; Saez, M. Saved by Wealth? Income, Wealth, and Self-Perceived Health in Spain during the Financial Crisis. Int. J. Environ. Res. Public Health 2020, 17, 7018.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Search more from Scilit
 
Search
Back to TopTop