Abstract
Using the EU-SILC 2008 module on over-indebtedness and financial exclusion, this paper analyses how perceived future-orientated economic insecurity alters individual self-assessed health (SAH), once controlling for past and current financial situation in a range of European countries. Those effects differ by gender and by country. Our results also suggest that country characteristics explain a larger part of the unknown variability of individual levels of SAH than individual-household characteristics. Thus, our findings might be of help in designing the most effective policies intended to alleviate the individual welfare costs of perceived financial insecurity provoked by upcoming business-cycle downturns.
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