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Theoretical and Applied Economics
No. 1 / 2023 (634), Spring

Financial difficulties and economic recession: Evidence from Canadian seniors

Université du Québec en Outaouais, Canada
Université du Québec en Outaouais, Canada

Abstract. Pressured by financial difficulties and the relatively low income from participating in the labour market, many seniors become insolvent. In this article, we analyze the financial situation facing Canadian seniors who have accessed the insolvency system due to a deterioration in their socio-economic and financial conditions, particularly since the 2008 economic crisis. Using federal statistical data, we observed that seniors who used the insolvency system during the recession period were more indebted than those who accessed it before, and less indebted than those who accessed it after the recession.

Keywords: seniors, income, asset, debt, recession.

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016


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