Living like there's no tomorrow: The psychological effects of an earthquake on savings and spending behavior
Living like there's no tomorrow: The psychological effects of an earthquake on savings and spending behavior
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DOI：
10.1016/j.euroecorev.2019.04.004
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发表时间：
2019-07-01
影响因子：
2.8
通讯作者：
Chen, Kevin Z.
中科院分区：
文献类型：
--
作者：
Filipski, Mateusz;Jin, Ling;Chen, Kevin Z.
自然灾害不仅通过物质损失影响经济，还通过情感和心理影响幸存者。这可能会改变他们的经济行为，但其方式仍知之甚少。我们提出了一个灾后储蓄模型，揭示了两种相反的趋势：通过增加储蓄进行自我保险的需要，以及通过增加支出“享受生活”的动力。我们使用来自中国四川省的面板数据集，并通过关注那些生活在地震地区但本身没有遭受损害或伤害的人来隔离心理影响。尽管他们没有承受经济损失，但他们储蓄较少，在酒精上花费更多，并且更频繁地玩麻将（一种中国游戏），这表明“没有明天”倾向主导了预防倾向。储蓄率影响的大小，距离震中每增加 1%，储蓄率就会下降 0.17 个百分点，这在经济上具有重大意义，并且在中期内持续存在。 (C) 2019 Elsevier B.V. 保留所有权利。
Natural disasters impact economies not only through physical damages, but also by affecting survivors emotionally and psychologically. This can alter their economic behavior, in ways that remain poorly understood. We present a model of post-disaster savings that reveals two opposing tendencies: the need to self-insure through increased savings, and the drive to "enjoy life while it lasts" through increased spending. We use panel datasets from China's Sichuan province, and isolate psychological impacts by focusing on those who lived in quake areas but did not themselves suffer damages or injuries. Although they did not bear economic losses, they saved less, spent more on alcohol, and played majiang (a Chinese game) more often, suggesting that the "no tomorrow" tendency dominated over the precautionary tendency. The magnitude of the savings rate impact, a drop of 0.17 percent-age points for each percent of distance closer to the epicenter, is economically significant, and persists in the medium term. (C) 2019 Elsevier B.V. All rights reserved.