COVID-19 pandemic severity and the financial resilience of older Europeans: regional disaggregation of SHARE data

This study explores changes in financial wellbeing among Europeans aged 50+ before, during, and after the COVID 19 pandemic, using longitudinal SHARE data (Waves 7–9 and the two SHARE Corona Surveys) and regional excess mortality as a proxy for pandemic severity. Guided by García Mata and Zerón Félix’s (2022) multidimensional theory, we integrate subjective and objective indicators, temporal dynamics, and contextual factors. Subjective financial wellbeing is measured by the ability to make ends meet; explanatory variables include income, employment transitions, education, and regional mortality anomalies. Multilevel ordered logistic regressions with clustered standard errors show that higher excess mortality correlates with greater odds of financial deterioration, particularly in less-developed regions. At the same time, the strong association between mean regional income and regional excess mortality suggests that excess mortality may reflect broader contextual differences that are not directly related to containment measures or healthcare system quality. ...