New research to understand how austerity affects individuals’ wellbeing

Our focus is on the psychological impact and cost of austerity measures in Europe.

Dr alberto Montagnoli

Two researchers from the Department of Economics have been awarded a Leverhulme Trust Research Project Grant to better understand the causal effects of austerity measures on the psychological wellbeing and mental health of individuals across Europe.

Dr Alberto Montagnoli and Professor Sarah Brown are two of the researchers at the University of Sheffield together with Professor Alexandros Kontonikas at the University of Glasgow and Dr Mirko Moro at the University of Stirling.

Photo of Dr Alberto MontagnoliDr Alberto Montagnoli, Principal Investigator of the project says that “Following the 2008-2009 international financial crisis there has been considerable discussion of the costs of austerity measures in terms of economic activity, e.g. income and unemployment.”

“However, limited attention has been paid to the role that these policies can have in terms of psychological costs for individuals their households and at a community level.”

“Our focus is on the psychological impact and cost of the austerity measures and will serve to bridge the knowledge gap of how macroeconomic policies have an effect at a microeconomic level and to enable a comparative analysis across European countries.”

The research project will last two years from January 2016.