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AbstractWe use individual life history data from 12 European countries, and duration analysis that controls for unobserved heterogeneity, to investigate whether observed patterns of investment in illiquid assets and housing are consistent with predictions based on "temptation preferences". A motivating model takes into account the standard motives for saving, but also recognises that illiquid financial assets and housing may be used by individuals who find it hard to control the temptation linked to abundant cash on hand. Even controlling for many possible motives for purchasing housing, and for unobserved heterogeneity, a large fraction of individuals become significantly more likely to buy housing after investing in illiquid assets; this finding is consistent with the predictions of the model.

We investigate the size of the consumption drop at retirement in Italy by exploiting pension eligibility information to correct for endogenous retirement. We take a regression discontinuity approach and assume that spending would be smooth around pension eligibility if individuals did not retire. We estimate a 9.8 percent drop associated to retirement. This fall is not driven by liquidity problems for the less well off and can be accounted for by drops in work-related expenses. Retirement also induces a significant drop in the number of grown children living with their parents and this explains most of the retirement consumption drop. (JEL D91, E21, J26, J31)

The article examines the distribution of income and wealth among the generation of Europeans aged 65 and over, using data drawn from the first wave of the Survey of Health, Ageing and Retirement in Europe (SHARE). It looks at how cross-country comparisons of income, wealth and debt are affected by differences in purchasing power, household size and taxation, and shows that some seemingly wide international differences appear less so when the proper adjustments are made. The article reveals wide differences in income, wealth and indebtedness of elderly households in Europe, and provides background information on social issues such as the adequacy of savings at retirement, and the financial fragility of the elderly.

Intro -- Contents -- Editors -- Contributors -- 1 SHARE: a European policy device for inclusive ageing societies -- Part I. Material deprivation and social exclusion - extending analysis using Wave 5 data -- 2. Material deprivation items in SHARE Wave 5 data: a contribution to a better understanding of differences in material conditions in later life -- 3. Accessibility to neighbourhood services and well-being among older Europeans -- 4. Assessing the material deprivation of older Europeans -- 5. Development and validation of a material deprivation index -- 6. Measuring social deprivation and social exclusion -- 7. Material and social deprivation in the macroeconomic context -- Part II. Deprivation and social exclusion: causes and implications -- 8. Does hearing impairment lead to social exclusion? -- 9. Older adults living with cognitive and mobility-related limitations: social deprivation and forms of care received -- 10. Who can realise their retirement plans? Poor health and employment crises as factors of exclusion -- 11. Social inequalities in oral health - towards targeted health policy interventions -- 12. Slipping into poverty: effects on mental and physical health -- 13. Social cohesiveness and neighbourhood environmental deprivation: how are they related to life satisfaction in late life? -- Part III. Inclusion and social cohesiveness -- 14. Social exclusion and support between generations -- 15. Loneliness in Europe: do perceived neighbourhood characteristics matter? -- 16. Loneliness among informal caregivers aged 50+ in Europe -- 17. Social exclusion, welfare regime and unmet long-term care need: evidence from SHARE -- 18. Growing old abroad: social and material deprivation among first- and secondgeneration migrants in Europe.

Health in later life is shaped by behavior and policies over the life course and reflects the differences between the societies in which we are ageing. This multidisciplinary book answers questions from all life course phases and its interconnections from a European perspective based on the most recent SHARE data, such as: How is our health related to personality traits and influenced by our childhood conditions and careers? Which role does our social network play? Which impacts of the different health care and societal regimes can we trace at older ages? Which are the differences and similarities across European countries?

Frontmatter -- Contents -- Editors -- Contributors -- 1. A spotlight on health and life courses in Europe using SHARE Waves 6 and 7 / Börsch-Supan, Axel / Bristle, Johanna / Andersen-Ranberg, Karen / Brugiavini, Agar / Jusot, Florence / Litwin, Howard / Weber, Guglielmo -- Part I. Personality and childhood -- 2. Personality, age and the well-being of older Europeans / Erlich, Bracha / Litwin, Howard / Brugiavini, Agar / Weber, Guglielmo -- 3. Personality and physical health among older Europeans / Shemesh, Jonathan / Schwartz, Ella / Litwin, Howard / Brugiavini, Agar / Weber, Guglielmo -- 4. Personality traits and financial behaviour / Bertoni, Marco / Bonfatti, Andrea / Celidoni, Martina / Crema, Angela / Dal Bianco, Chiara / Brugiavini, Agar / Weber, Guglielmo -- 5. Relationships with parents in childhood and well-being in later life / Damri, Noam / Litwin, Howard / Brugiavini, Agar / Weber, Guglielmo -- 6. Effects of adverse childhood experiences on mental well-being later in life / Buia, Raluca E. / Kovacic, Matija / Orso, Cristina E. / Brugiavini, Agar / Weber, Guglielmo -- Part II. Health inequalities - Education and income -- 7. Dynamic changes in determinants of inequalities in health in Europe with a focus on retirement / Lauridsen, Jørgen T. / Christiansen, Terkel / Vitved, Astrid R. / Weber, Guglielmo -- 8. Persistence in inequalities of frailty at older age: A comparison of nine EU countries / Arnault, Louis / Jusot, Florence / Sirven, Nicolas / Brieu, Marie-Anne / Halimi, Didier / Forette, Françoise / Weber, Guglielmo -- 9. How do early-life conditions shape health age profiles late in life? / Belloni, Michele / Cavapozzi, Danilo / Dal Bianco, Chiara / Pan, Yao / Trucchi, Serena / Weber, Guglielmo -- 10. Tracking and educational inequality in health in later life / Kratz, Fabian / Bristle, Johanna / Weber, Guglielmo -- Part III. Labour market, occupation and retirement -- 11. Long-term effects of different labour careers / Pettinicchi, Yuri / Börsch-Supan, Axel / Brugiavini, Agar -- 12. The economic situation of formerly self-employed workers / Pettinicchi, Yuri / Börsch-Supan, Axel / Brugiavini, Agar -- 13. Patterns of labour market participation and their impact on the well-being of older women / Chłoń-Domińczak, Agnieszka / Magda, Iga / Strzelecki, Paweł A. / Brugiavini, Agar -- 14. End-of-working-life gender wage gap: The role of health shocks, parental education and personality traits / Bertoni, Marco / Bonfatti, Andrea / Celidoni, Martina / Crema, Angela / Dal Bianco, Chiara / Brugiavini, Agar -- 15. Family dissolution and labour supply decisions over the life cycle / Cavapozzi, Danilo / Fiore, Simona / Pasini, Giacomo / Brugiavini, Agar -- 16. Working conditions and health of older workers / Belloni, Michele / Buia, Raluca Elena / Kovacic, Matija / Meschi, Elena / Brugiavini, Agar -- Part IV. Social transitions and economic crises -- 17. Health gap in post-socialist Central and Eastern Europe: A life-course perspective / Bíró, Anikó / Branyiczki, Réka / Börsch-Supan, Axel -- 18. What is hidden behind the 'obvious'? SHARE data raise the curtain about health, early retirement and elderly care of ageing Bulgarians / Markova, Ekaterina / Yordanova, Gabriela / Börsch-Supan, Axel -- 19. The link to the past and the post-communist welfare state / Dobrescu, Loretti I. / Andrieș, Alin Marius / Börsch-Supan, Axel -- 20. The economic crisis, fiscal austerity and long-term care: Responses of the care mix in three adjustment countries / Lyberaki, Antigone / Tinios, Platon / Papadoudis, George / Georgiadis, Thomas / Börsch-Supan, Axel -- 21. Financial and non-financial transfers from parents to adult children after the economic crisis / Ostrovsky-Berman, Ela / Litwin, Howard / Börsch-Supan, Axel -- Part V. Social context and health -- 22. Changes in social networks and cognitive decline / Schwartz, Ella / Litwin, Howard -- 23. The role of social networks and disability in survival / Abuladze, Liili / Sakkeus, Luule / Litwin, Howard -- 24. Social embeddedness of care recipients and their spousal caregivers / Wagner, Melanie / Holdik, Ina / Litwin, Howard -- 25. The impact of living alone on physical and mental health: Does loneliness matter? / Barbosa, Fátima / Cunha, Cláudia / Voss, Gina / Matos, Alice Delerue / Litwin, Howard -- 26. Living alone in Europe and health behaviours / Mudražija, Stipica / Smolić, Šime / Čipin, Ivan / Litwin, Howard -- 27. Bereavement, loneliness and health / Fawaz, Yarine / Mira, Pedro / Litwin, Howard -- Part VI. Healthcare and health behaviour -- 28. The social dynamics of unmet need, catastrophic healthcare expenses and satisfaction with health insurance coverage / Jürges, Hendrik / Stella, Luca / Jusot, Florence -- 29. Differences in healthcare use between immigrant and local older individuals / Fiore, Simona / Kovacic, Matija / Orso, Cristina E. / Jusot, Florence -- 30. Life expectancy and health investments / Bertoni, Marco / Bonfatti, Andrea / Celidoni, Martina / Crema, Angela / Dal Bianco, Chiara / Jusot, Florence -- 31. Multiple chronic conditions in older people in European countries: A network analysis approach / Srakar, Andrej / Prevolnik Rupel, Valentina / Jusot, Florence -- Part VII. Objective health -- 32. Changes in body mass and cognitive decline - disentangling a seeming paradox / Weiss, Luzia M. / Kronschnabl, Judith / Kneip, Thorsten / Bergmann, Michael / Andersen-Ranberg, Karen -- 33. The association between self-reported physical activity and physical performance: Does advancing age matter? / Rise, Jens Elmelund / Juel Ahrenfeldt, Linda / Lindahl-Jacobsen, Rune / Andersen-Ranberg, Karen -- 34. Grip strength across Europe -North/ South and East/West divides / Barros, Pedro Pita / Pimentel-Santos, Fernando / Neto, David Dias / Andersen-Ranberg, Karen -- 35. End of life and palliative care in Europe: An exploration of SHARE data / Jürges, Hendrik / Laferrère, Anne / Lemoine, Adèle / Andersen-Ranberg, Karen -- Part VIII. Dried blood spot samples -- 36. Dried blood spot samples and their validation / Börsch-Supan, Axel / Börsch-Supan, Martina / Weiss, Luzia M. -- 37. Influence of fieldwork conditions and sample quality on DBS values / Weiss, Luzia M. / Börsch-Supan, Axel -- 38. Blood collection in the field - results and lessons from the polish test study / Weiss, Luzia M. / Börsch-Supan, Martina / Myck, Michal / Nocoń, Katarzyna / Oczkowska, Monika / Topór-Mądry, Roman / Andersen-Ranberg, Karen / Börsch-Supan, Axel -- 39. Identification of cytokine and lipoprotein markers for analyses in SHARE Wave 6 dried blood spots / Borbye-Lorenzen, Nis / Börsch-Supan, Martina / Börsch-Supan, Axel

Health in later life is shaped by behavior and policies over the life course and reflects the differences between the societies in which we are ageing. This multidisciplinary book answers questions from all life course phases and its interconnections from a European perspective based on the most recent SHARE data.