Recession depression: Mental health effects of the 2008 stock market crash

Journal of Health Economics, Journal Year: 2013, Volume and Issue: 32(6), P. 1090 - 1104

Published: Sept. 13, 2013

Language: Английский

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Actions to alleviate the mental health impact of the economic crisis

World Psychiatry, Journal Year: 2012, Volume and Issue: 11(3), P. 139 - 145

Published: Oct. 1, 2012

The financial turmoil that began in 2007 has developed into a full-blown economic crisis many countries. This is likely to have negative impact on health, especially mental health. full health of the remains be seen, but reports effects already emerged. For instance, an increase suicide attempts been reported Greece 1, and increases rate suicides following onset recession observed Ireland 2 England 3. However, outlook does not so bleak. A recent World Health Organization (WHO) publication points out association between crises outcomes avoidable 4. Societies can more or less resistant stressors, which include both upturns as well crises. latter destabilize public service budgets, with consequences, including some education, social welfare care systems. Policy choices influence any outcomes. Unwise austerity measures services for children, families young people may result long-lasting costly (and physical) damages, create obstacle recovery. Conversely, ensure safety nets supports are place resilience communities shocks mitigate impacts fear job loss, unemployment, loss status stress-related consequences downturns 5. because depends upon variety socioeconomic environmental factors 6. High frequencies common disorders associated poverty, poor material disadvantage, fragmentation deprivation, unemployment 7,8,9. Recessions widen income inequalities societies, turn risk 10. As move down socio-economic ladder due jobs income, their at being adversely affected 11. number households high debt, repossession houses evictions increasing crisis. Protective will weakened strengthened. substantial body research signposts additional risks emerge times change. We know who experience impoverishment significantly greater problems, such depression, alcohol use suicide, than unaffected counterparts 12,13. Men, particular, increased problems 14 death 15 16 during adversity. There evidence debts, difficulties housing payment lead 17,18,19. debts have, higher 20,21. Increases national regional rates 3,5,22. least educated those greatest ill after 23. Pooled calls protective interventions targeting newly long-term unemployed, men low educational attainment During recessions, 24. It — made through – hardest hit by exclusion vulnerable groups, living near poverty line 25. Vulnerable groups people, single parent families, ethnic minorities, migrants, older people. Work from South Korea income-related depression over 10-year period crisis, strengthening argument targeted investment protection 26. Families whole also feel Poor hurt cuts education budgets. Family strain family violence child neglect. Children find themselves having provide support other members. foundations good laid pregnancy, infancy childhood 27. Mental promoted nurturing upbringing holistic preparation life pre-schools schools providing emotional learning opportunities 28. Cuts pre-school system life-long psychological well-being. Economic stress, its parental marital interaction parenting, children adolescents 29,30. extreme deficits cognitive, physical development, well-being 31. Nation-wide population follow-up data Finland, experienced severe beginning 1990s, reveals gloomy figures: age 21 one four born 1987 had committed criminal offence five received psychiatric 32. In countries, consumption negatively example, Eastern Europe, plays considerable role rate, 33. Russia, societal changes seen collapse Soviet Union 1991, breakdown rouble 1998, were followed alcohol-related deaths 34. Likewise, rises linked 28% rise European Binge drinking tend countries 35,36, creating need governments upgrade control actions. Countries strong see smaller related 37. indicates that, formal protection, do necessarily Finland Sweden, deep large remained broadly unchanged diminished, possibly benefits buffered against structural pressures towards widening 38,39,40. These findings echoed US linking reductions state spending 41. Reforms maintain strengthen taxation systems reduce potentially could help protect collated responses crucial mitigating while levels inequality approach challenges current across several sectors. addition broad go beyond issues alone, provision primary care, active labour market programmes, parenting control, promotion capital debt relief programmes constitute cornerstones successful policies prevent population. emerging base cost-effectiveness these Many facing pressure international community cut borrowing expenditure, inevitably puts Government expenditures squeezed falling real terms. Data Organisation Co-operation Development (OECD) indicate overall grew nearly 5% per year terms 2000 2009, was zero growth 2010 42. Major recently 43. spite 44, particularly cuts, they usually lack advocacy oppose them, contrary illness services. Improved responsiveness social, employment population, early recognition suicidal ideas heavy human toll recession. To meet only required, restructuring needs Well-developed community-based reduction 45,46. An integrated focus access shift prevention detection problems. must liaise resilience-strengthening elements community, comprehensive accessible network. Perceived stigma barrier help-seeking 47, acceptability. Due constraints, review still concentrated hospitals. urgency courage eliminate fundamental hospital-dominated delivery based Thus, efficiency hand development modern Sound incentives are, however, needed high-quality optimal existing resources. One important challenge continue fund excess inpatient same time investing transitional 48. Linking funding accreditation provider performance assessments emphasis away institutional 49. Universal coverage cornerstone reducing restrain 50. provides driver develop all. Active recessions. aim improving prospects finding gainful services, training, special transition school work, promote disabilities. each 100 USD head reduced 0.4% effect 1% group unemployed re-employment 51,52. Cost-effectiveness evaluations savings payers employers alike, employment, earnings fewer 53. Given adverse there case embedding types routinely redundancy packages provided employers. Special work training left benefit. Apprenticeship-type regular settings offer most 54. costs raising expenditure maternity leave. capita 0.2% literature indicating parents gains outweighing short-term 55. effective cost-effective controls price availability 56. While sometimes politically challenging implement, policy actions harm 57. Alcohol policy, alcohol, disorders. Control should supplemented services: drinkers benefit brief care. necessary try becoming over-indebted making it easier them pay fair share able return dignified economically life. highlighted key area action 58. Taking results distress 59. granted better controlled trial management Wales improvements general anxiety optimism 60. Use advice 61. cooperation improve communication agencies. Debt advisers trained refer clients when 62. On hand, acknowledge burden over-indebtedness referral links bureaus 63. Access microcredit, organizations credit unions, 64. scope looking provisions bankruptcy laws seeing whether might reformed Social defined different ways, covers resources available individuals society relationships networks. factor. networks, represented trade religious congregations sport clubs, seem net rapid macroeconomic 65. Participation activities perceived helpfulness within 66. contrast, interpersonal trust 67. Evidence highly sensationalized reporting suicides, detailed descriptions methods, "copy-cat" suicides. responsible reduces copy-cat 68,69, among 70. Media guidelines monitoring stigmatizing media stigmatization press 68,70. crises, possible thus detrimental contribute "snowball" effect. close collaboration representatives experts commonly agreed media-related hardship. reason apparent priority neglect given level 71. Countering this discrimination critical willingness makers invest 72. Public surveys indicated safeguarding face budget 73,74. impacts, increasingly significant low, middle 75. Member States, mainly form lost productivity conservatively estimated average 3–4% gross product 76. manufacturing knowledge-based emphasizes even importance sustained productivity. Good contributes prosperity, 77. Demonstrating justify new investments strategy 78. Investing actions, external sector, integration. despite interventions, receives remarkably 79. above-mentioned fall sectors outside system. communicate Ministries Finance purse 80. presents opportunity would injuries arising disorders, global presented impaired cycle. remember boom bust, uneven distribution wealth all benefit, Celtic Tiger years 81. powerful arguments universal adequate systems, support, strengthened present downturn. Governments consider reorienting budgets populations now future budgeting keep employed, helping lose enabling regain quickly. Business under offering working hours temporary sabbaticals rather workers redundant. policies, particular introducing minimum alcohol. Such done risky episodic patterns drinking. Without detracting attention recession, noted positive lifestyle changes. Fewer spent mean leisure friends. Less activity slower pace civic participation networking. Iceland encountered major 2008. Some Icelanders did "blessing disguise nation basic values greed narcissism", chance "recover become democratic, society" 82. Indeed, preservation well-developed height regarding behaviours 83. decisions taken either worsen options faster Population well-being, i.e. capital, prerequisite flourishing economy way bricks Important healthy solidarity struck equitable Well cemented economy.

Language: Английский

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Losing Heart? The Effect of Job Displacement on Health

ILR Review, Journal Year: 2015, Volume and Issue: 68(4), P. 833 - 861

Published: May 14, 2015

Job reallocation is considered a key characteristic of well-functioning labor markets, as more productive firms grow and less ones contract or close. Despite its potential benefits for the economy, however, costs that are borne by displaced workers significant. The authors study how job displacement in Norway affects cardiovascular health, using sample men women who predominantly their early 40s. To do so, they merge survey data on health behaviors with register person firm characteristics. compare non-displaced from five years before to seven after displacement. Results show leads an increase smoking behavior both but few other short-term effects. These results robust variety specification checks.

Language: Английский

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The Great Recession and Mothers’ Health

The Economic Journal, Journal Year: 2015, Volume and Issue: 125(588), P. F311 - F346

Published: Nov. 1, 2015

We use longitudinal data from the Fragile Families and Child Well-being Study to investigate impacts of Great Recession on health mothers. focus a wide range physical mental outcomes, as well behaviors. find that increases in unemployment rate decrease self-reported status increase smoking drug use. also evidence heterogeneous impacts. Disadvantaged mothers-African-American, Hispanic, less educated, unmarried-experience greater deterioration their than advantaged mothers-those who are white, married, college educated.

Language: Английский

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Predictors of health behaviors after the economic downturn: A longitudinal study

Social Science & Medicine, Journal Year: 2013, Volume and Issue: 89, P. 8 - 15

Published: April 29, 2013

Language: Английский

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Prenatal Exposure to Violence and Birth Weight in Mexico

American Sociological Review, Journal Year: 2014, Volume and Issue: 79(5), P. 966 - 992

Published: Aug. 19, 2014

This article examines the effect of maternal exposure to local homicides on birth weight. We create a monthly panel by merging all births in Mexico from 2008 2010 with homicide data at municipality level. Findings fixed-effects models indicate that first trimester gestation increases infant weight and reduces proportion low The is not driven fertility or migration responses environmental violence. mechanism driving this surprising positive appears be an increase mothers’ health-enhancing behaviors (particularly use prenatal care) as result heterogeneous across socioeconomic status (SES). It strong among low-SES women—but only those living urban areas—and null most advantaged women. variation suggests behavioral depend combination increased vulnerability access basic resources allow women obtain care.

Language: Английский

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Sleep behavior and unemployment conditions

Economics & Human Biology, Journal Year: 2014, Volume and Issue: 14, P. 22 - 32

Published: April 18, 2014

Language: Английский

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Has the global financial crisis had different effects on innovation performance in the agri-food sector by comparison to the rest of the economy?

Trends in Food Science & Technology, Journal Year: 2016, Volume and Issue: 50, P. 230 - 242

Published: Jan. 27, 2016

Language: Английский

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Binge drinking and alcohol prices: a systematic review of age-related results from econometric studies, natural experiments and field studies

Health Economics Review, Journal Year: 2015, Volume and Issue: 5(1)

Published: Feb. 11, 2015

Heavy episodic ("binge") drinking of alcohol has serious public health implications, especially for youth and young adults. Previous summaries surveys have failed to address in a comprehensive manner the effects prices on binge by gender or age group.

Language: Английский

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Household Financial Distress and Initial Endowments: Evidence from the 2008 Financial Crisis

Health Economics, Journal Year: 2016, Volume and Issue: 25(S2), P. 43 - 56

Published: Nov. 1, 2016

This paper studies in utero exposure to the 2008 financial crisis. Exploiting sudden and unexpected collapse of Icelandic economy, I find that first-trimester crisis led a sizable significant reduction birth weight, increased probability low weight ( < 2500 g), decreased high > 4000 g). also evidence reduced sex ratio, indicating selection due maternal prenatal stress exposure. My results imply large welfare losses from distress have hitherto been ignored - because children with worse health at can expect substantially lower lifetime earnings suggest economic hardships may general exacerbate income inequalities long run as low-income households are typically more exposed distress. Copyright © 2016 John Wiley & Sons, Ltd.

Language: Английский

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