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首页> 外文期刊>Journal of risk research >Can financial literacy reduce anxiety about life in old age?
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Can financial literacy reduce anxiety about life in old age?

机译:金融知识能否减轻对老年生活的焦虑?

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摘要

This study examines the role of financial literacy in reducing anxiety about life in old age. We hypothesize that financial literacy increases preparedness for old age through better savings and investment decisions, leading to the accumulation of more assets and earning more income, which enhances financial capacity and reduces anxiety. Using data from a nationwide panel survey in Japan, we provide evidence that financial literacy can reduce anxiety about life in old age by making people capable of accumulating more assets and earning more income. Moreover, the interaction of financial literacy with age and spouse reduces anxiety, while living with children increases anxiety about life during old age. We check the robustness of our results using an alternative measure of financial literacy, changing composition of the sample, controlling for residents' geographical dispersion, and testing for endogeneity bias. The major findings remain unchanged after considering these factors.
机译:这项研究探讨了金融知识在减少老年人的生活焦虑中的作用。我们假设,金融知识可以通过更好的储蓄和投资决策来提高老年人的准备水平,从而导致积累更多的资产并获得更多的收入,从而增强金融能力并减少焦虑。使用日本全国性面板调查的数据,我们提供的证据表明,金融知识可以使人们有能力积累更多的资产和更多的收入,从而减少对老年生活的焦虑。此外,金融知识与年龄和配偶的相互作用减少了焦虑,而与孩子一起生活则增加了对老年生活的焦虑。我们使用另一种金融知识测度,改变样本组成,控制居民的地域分散性以及测试内生性偏倚来检验结果的稳健性。考虑这些因素后,主要发现保持不变。

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