Debt and depression

Bridges, Sarah and Disney, Richard (2010) Debt and depression. Journal of Health Economics, 29 (3). pp. 388-403. ISSN 01676296

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Abstract

We examine the effect of household financial indebtedness on psychological well-being using a large household survey of families with children in Britain. Existing studies that find a link between debt and depression tend to utilise small and highly selective samples of people and only self-reported measures of financial stress, responses to which are likely to correlate with subjective measures of health. From additional household data, we can construct a variety of ‘objective’ quantitative measures of financial stress in order to validate self-reported measures. We show that, although there is a positive association between subjective measures of financial well-being and psychological well-being, individuals differ in their psychological response to objective household financial situations. We also examine how the potential simultaneity of financial and psychological health might be handled.

Item Type: Article
Keywords: Financial indebtedness; Psychological well-being; Self-reported measures
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: H Social Sciences > HB Economic theory. Demography
Depositing User: Catrina Hey
Date Deposited: 10 Jun 2013 15:50
Last Modified: 10 Jun 2013 15:50
URI: http://sro.sussex.ac.uk/id/eprint/45186
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