Household debt in midlife and old age: A multinational study
Bibliographic record
Abstract
This article examines the prevalence of household debt in middle and old age, in the context of rising consumption, the weakening welfare safety net, and the ‘democratization’ of credit. We aim to address theoretical propositions concerning household correlates of mortgage and financial debt, as well as the relationship between the two types of debt. We utilize data gathered on populations, aged 50 years and older, in 15 countries that participated in the Survey of Health, Ageing, and Retirement in Europe (SHARE) project. We find considerable levels of mortgage and financial debt in advanced stages of life, as well as significant differences within and between countries. Controlling for country variation as well as individual and household attributes, we find a positive relationship between the size of mortgage debt and financial debt across most countries. We test alternative explanations for this relationship and discuss the implications of our findings in the broader context of the risks faced by older cohorts in consumer societies with shrinking welfare expenditure.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".