Financial shocks and worry about the future |
| |
Authors: | Ann L Owen Stephen Wu |
| |
Institution: | (1) Hamilton College, 198 College Hill Road, Clinton, NY 13323, USA |
| |
Abstract: | Using data from the Health and Retirement Study and the Survey of Consumer Finances, we show that households that experience
adverse financial shocks worry more about the adequacy of their financial resources in retirement, even after controlling
for the effects of these shocks on overall wealth. We find supporting evidence that suggests that at least part of the increased
worry about retirement is due to general pessimism rather than changes in an individual’s own circumstances. Specifically,
experiencing idiosyncratic financial shocks is also associated with greater pessimism about the general future of the economy.
|
| |
Keywords: | Anxiety Worry Expectations |
本文献已被 SpringerLink 等数据库收录! |
|