Revisiting Economic Vulnerability in Old Age (eBook)

Contents 6
Chapter 1: Introduction 12
Reference 14
Part I: Theoretical Framework 15
Chapter 2: Vulnerability 17
2.1 Relevance of the Concept of Vulnerability for the Study of Economic Vulnerability in Old Age 18
2.2 A Dynamic Framework of Vulnerability in Old Age 20
2.3 Common Risk Patterns Among Elderly in Switzerland 21
2.4 Latent Versus Manifest Vulnerability 25
2.5 The Convention of Equivalence Between Heterogeneous Observations 26
2.6 Coping: Taking Human Agency Seriously 28
References 30
Chapter 3: Objectivity and Subjectivity 32
3.1 Dimensions of Measurement 32
3.2 Objective and Subjective Concepts of Quality of Life 36
3.3 Incongruence Between Objective and Subjective Measures 39
References 41
Chapter 4: Measures of Economic Vulnerability 43
4.1 The Absolute Core of Manifest Vulnerability 43
4.2 Measuring Economic Vulnerability Objectively 47
4.3 Measuring Economic Vulnerability Subjectively 51
4.4 Economic Vulnerability Among Swiss Pensioners 55
References 58
Chapter 5: Integrating Objective and Subjective Measures 61
5.1 Pearlin’s Stress Process Model 61
5.2 Lazarus’s Appraisal Theory 64
5.3 A Typology of Economic Vulnerability 65
5.4 Conclusion 70
References 73
Part II: Research Design 74
Chapter 6: Data Set 75
6.1 Background of the Survey «Vivre/Leben/Vivere » 75
6.2 Questionnaires and Procedures 76
6.3 Population Surveyed 77
Appendix: Sample Distribution of the VLV Survey, Without Proxy Data 78
References 78
Chapter 7: Theoretical Model and Research Questions 79
References 85
Chapter 8: Analytical Methods 86
8.1 Determining Measurement Levels 86
8.1.1 Ordinal and Interval Data 87
8.1.2 Likert Scales and Likert-Type Items 88
8.2 Bivariate Analysis 89
8.3 Logistic Regression Models 90
8.4 Structural Equation Models 93
8.5 Weights 96
References 99
Chapter 9: Choice of Variables 101
9.1 Dependent Variables: Measures of Economic Vulnerability 101
9.2 Explanatory Variables 104
9.2.1 Background Characteristics 105
9.2.1.1 Sex 105
9.2.1.2 Age 106
9.2.1.3 Marital Status 107
9.2.1.4 Canton 107
9.2.1.5 Education 107
9.2.1.6 Personality 108
9.2.2 Economic Resources 109
9.2.2.1 Wealth 109
9.2.2.2 Owner 109
9.2.2.3 Types of Sources of Income 110
9.2.3 Financial Needs and Expectations 111
9.2.3.1 Former Socio-Professional Status 111
9.2.3.2 Health 112
9.2.3.3 Social Participation 113
9.2.4 Psychosocial Consequences and Symptoms of Economic Vulnerability 116
9.2.4.1 Social Isolation 116
9.2.4.2 Loneliness 118
9.2.4.3 Sense of Diminishment 118
Appendix 121
References 123
Chapter 10: Missing Values 128
10.1 Pro-rating for Validated Psychometric Scales 129
10.2 Patterns of Missing Values 129
10.3 Determinants of Missing Values in Financial Worry, Income and Wealth 130
10.4 Determinants of Missing Values in Self-worth 133
10.5 Conclusion: Handling Missing Values and Final Sample 134
Appendix 135
References 136
Part III: Prevalence of Economic Vulnerability Among Swiss Pensioners 138
Chapter 11: Socio-demographic Characteristics of the Sample Population 140
References 144
Chapter 12: Prevalence and Overlap of Three Measures of Economic Vulnerability 145
12.1 Economic Vulnerability Rate by Measure 145
12.2 Congruence Between Measures 147
12.3 Associations at the Ordinal Level 149
Reference 152
Chapter 13: Background Characteristics 153
13.1 Sex 153
13.2 Age 154
13.3 Canton 156
13.4 Marital Status 157
13.5 Educational Attainment 158
13.6 Personality 158
Appendices 161
Appendix 13.1: Sample Distribution by Sex and Measures of Economic Vulnerability 161
Appendix 13.2: Distribution of Vulnerability Types by Sex 161
Appendix 13.3: Sample Distribution by Age Group and Measures of Economic Vulnerability 162
Appendix 13.4: Distribution of Vulnerability Types by Age Groups 162
Appendix 13.5: Percentage Distribution of Vulnerability Types by Age-Sex Groups 163
Appendix 13.6: Sample Distribution by Canton and Measures of Economic Vulnerability 163
Appendix 13.7: Sample Distribution by Marital Status and Measures of Economic Vulnerability 163
Appendix 13.8: Percentage Distribution of Vulnerability Types by Marital Status, Without Type AAA 164
Appendix 13.9: Sample Distribution by Education and Measures of Economic Vulnerability 164
Appendix 13.10: Percentage Distribution of Vulnerability Types by Educational Attainment 165
Appendix 13.11: Correlation Between Personality Traits Neuroticism, Openness, Extraversion, Agreeableness and Measures of Economic Vulnerability 165
Appendix 13.12: Association Between Personality Trait Conscientiousness and Measures of Economic Vulnerability 166
References 166
Chapter 14: Economic Resources 168
14.1 Financial Support 168
14.2 Occupational Pensions 171
14.3 Home Ownership 172
14.4 Professional Activity 173
14.5 Wealth 174
Appendix 177
Appendix 14.1: Sample Distribution by Financial Support and Supplementary Benefits and Measures of Economic Vulnerability 177
Reference 178
Chapter 15: Financial Needs and Expectations 179
15.1 Socio-professional Status 179
15.2 Health 182
15.3 Social Participation 186
Appendices 191
Appendix 15.1: Percentage Distribution of Vulnerability Types by Socio-professional Category, Without Type AAA 191
Appendix 15.2: Sample Distribution by Health Symptoms and Measures of Economic Vulnerability 192
Appendix 15.3: Frequency of Going to the Movies/Theater Play, by Measure of Economic Vulnerability 193
Appendix 15.4: Frequency of Taking a Trip, by Measure of Economic Vulnerability 193
Appendix 15.5: Frequency of Eating out or Going to a Coffee Shop, by Measure of Economic Vulnerability 194
References 194
Chapter 16: Psychosocial Consequences and Symptoms 195
16.1 Social Isolation 195
16.2 Loneliness 197
16.3 Sense of Diminishment 199
16.4 Mastery 201
Appendices 202
Appendix 16.1: Frequency of Calling Friends, by Measure of Economic Vulnerability 202
Appendix 16.2: Frequency of Visiting Family, by Measure of Economic Vulnerability 203
Reference 203
Chapter 17: Conclusion Part III 204
Appendix 210
Appendix 17.1: Overview of Effect Size of All Covariates on Measures of Economic Vulnerability 210
Reference 211
Part IV: The Self-Assessed Measure of Economic Vulnerability 212
Chapter 18: Regressing Background Characteristics on the Self-Assessed and the Objective Measure of Economic Vulnerability 215
References 218
Chapter 19: Regressing Economic Resources on the Self-Assessed and the Objective Measure of Economic Vulnerability 219
References 224
Chapter 20: Exploring the Relationship Between Economic Resources and the Self-Assessed Measure of Economic Vulnerability 225
References 228
Chapter 21: Regressing Financial Needs and Expectations on the Self-Assessed and the Objective Measure 229
Chapter 22: A Structural Equation Model for Self-Assessed Economic Vulnerability 236
References 242
Chapter 23: Modeling the Relationship Between the Objective and the Self-Assessed Measure 243
Appendix 249
Reference 250
Chapter 24: A Typology of Economic Vulnerability Combining the Objective and the Self-Assessed Measure 251
24.1 Identifying the Most Vulnerable According to Low Levels of Wealth 254
24.2 ‘Expensive Taste’ or ‘Downward Adaptation’? 257
Appendix 262
Appendix 24.1: Ordinal Regression Models with the Combination of Objective and the Self-Assessed Measure (Obj-Sa) as Independent Variable, Predicting Items of Financial Need and Expectations (Odds Ratios Are Reversed) 262
Appendix 24.2: Outcome Probabilities of Members of Vulnerability Type BA for Being in a Given Category of ‘Frequency of Going to a Restaurant or Coffee Shop’, by Last Socio-professional Category 263
Appendix 24.3: Outcome Probabilities of Members of Vulnerability Type BA for Being in a Given Category of ‘Frequency of Taking a Trip of at Least One Day’, by Last Socio-professional Category 264
References 264
Chapter 25: Conclusion Part IV 265
References 267
Part V: The Perceived Measure of Economic Vulnerability 268
Chapter 26: Regression Analysis 270
26.1 Regressing Background Characteristics on the Perceived Measure of Economic Vulnerability 270
26.2 Regressing Psychosocial Consequences and Symptoms on the Perceived and the Self-Assessed Measure of Economic Vulnerability 272
Appendix 277
References 281
Chapter 27: A Path Model of the Relationship Between the Self-Assessed and the Perceived Measure: Group Comparison by Wealth 282
Reference 289
Chapter 28: Integrating the Three Measures of Economic Vulnerability 290
28.1 Modeling the Relationship Among Objective, Self-Assessed and Perceived Measures 290
28.2 A Typology of Economic Vulnerability Combining the Objective, the Self-Assessed, and the Perceived Measure 292
Appendix 294
Chapter 29: Conclusion Part V 295
References 301
Chapter 30: Discussion and Final Conclusion 304
References 318