Financial Consequences of Widowhood in Europe: Cross-Country and Gender Differences

摘要: We document in this paper the financial consequences of widowhood using both cross-section and panel data from European Community Household Panel. The research reveals that there are large differences across countries. For example, widowed persons Greece Portugal have lowest income – less than a half those Austria. Cross-country decrease somewhat if we consider household net housing costs, owing to higher share home ownership low-income Further, reduction upon is generally larger for widows it widowers. difference between genders largest Denmark, Spain, Austria Finland, where widowers enjoy an more 30% widows. main culprit lies pension regulations. As today’s elderly women approaching old age spent their working years era worked at home, raised children did not participate labour market, many depend mostly on survivorship pensions as source income. Yet most countries kind tends be much lower applicable old-age pension, prevailing laws. Consequently, situation unlikely improve medium term unless regulations change.