financial uncertainty
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PLoS ONE ◽  
2021 ◽  
Vol 16 (12) ◽  
pp. e0260726
Author(s):  
Wing Wah Tham ◽  
Elvira Sojli ◽  
Richard Bryant ◽  
Michael McAleer

Mental health disorders represent an enormous cost to society, are related to economic outcomes, and have increased markedly since the COVID-19 outbreak. Economic activity contracted dramatically on a global scale in 2020, representing the worst crisis since the Great Depression. This study used the COVID Impact Survey to provide insights on the interactions of mental illness and economic uncertainty during COVID-19. We used a probability-based panel survey, COVID Impact Survey, conducted in the U.S. over three waves in the period April-June 2020. The survey covered individual information on employment, economic and financial uncertainty, mental and physical health, as well as other demographic information. The prevalence of moderate mental distress was measured using a Psychological Distress Scale, a 5-item scale that is scored on a 4-point scale (total range: 0–15). The mental distress effect of employment, economic, and financial uncertainty, was assessed in a logit regression analysis conditioning for demographic and health information. It is found that employment, health coverage, social security, and food provision uncertainty are additional stressors for mental health. These economic factors work in addition to demographic effects, where groups who display increased risk for psychological distress include: women, Hispanics, and those in poor physical health. A decrease in employment and increases in economic uncertainty are associated with a doubling of common mental disorders. The population-representative survey evidence presented strongly suggests that economic policies which support employment (e.g., job keeping, job search support, stimulus spending) provide not only economic security but also constitute a major health intervention. Moving forward, the economic uncertainty effect ought to be reflected in community level intervention and prevention efforts, which should include strengthening economic support to reduce financial and economic strain.


2021 ◽  
Vol 5 (Supplement_1) ◽  
pp. 914-914
Author(s):  
Jeremy Yorgason ◽  
Dikla Segel-Karpas ◽  
Ashley Ermer ◽  
Hailey Weller ◽  
Shenan Owens ◽  
...  

Abstract Retirement is an expected stage of life that couples plan for far in advance. Despite knowing that years of life without regular income are anticipated, some underprepare, leading to financial uncertainty in later years. In this study we explore financial concerns for retirement expressed by a sample of 335 midlife (Mage=44) couples that participated in the Flourishing Families study. We also examined predictors of those concerns across a 1-year period. Results suggested that both husbands and wives worried about insufficient income, excess spending, and heavy debt in retirement. Minor concerns included being worried about paying for their children’s education, net worth, and general expenses. Lower income was predictive of both husbands and wives being worried about having insufficient income in retirement. Higher income was predictive of husbands having concerns about excess spending. Although having retirement benefits was not predictive of any worries, having retirement savings was associated with wives having a greater likelihood of reporting worries about heavy debt and net worth in retirement. Better financial communication was associated with fewer husbands reporting concerns about excess spending and fewer wives reporting concerns about heavy debt. Having concerns about a spouse not being financially responsible were associated with more husbands reporting worries about excess spending and heavy debt in retirement. When wives reported higher social connection with a child, they also were more likely to report worries about expenses. Findings suggest that saving for retirement, communicating well about finances, and being financially responsible are associated with fewer financial concerns in retirement.


2021 ◽  
Vol 39 (8) ◽  
Author(s):  
José López

Cost-volume-profit relationships are the strategy for short-term decisions. This article analyzes and examines the relationship between changes in activity and changes in total sales revenue, costs, and net profit. Making a profit in times of economic/financial uncertainty is not easy for companies. The cost of materials, labor, equipment, advertising, etc., means that it is exceedingly difficult to stay in business. Questions such as: How much do companies have to produce and sell to break even in times of uncertainty? How do short-term decisions affect the business and capital structure? The answer is the relationship between sales revenue and costs.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Raed Khamis Alharbi

Purpose For almost two years, the economic shocks and financial uncertainty created by the Covid-19 pandemic have affected all sectors. The private sector employees may be the worst hit. This is because of the lockdown across many countries, including the Kingdom of Saudi Arabia (KSA), leading to income irregularities. Studies exploring private-sector employees concerning housing finance for the houses purchased and how the lockdown has affected their sources of income for repayment plans are scarce. Therefore, this study aims to investigate the possible early negative impacts of Covid-19 on private sector employees’ housing finance homeownership in KSA. Design/methodology/approach A phenomenology type of qualitative research was used. Data were sourced from three cities (Riyadh, Al-Qassim and Medina) and three mortgage banks across KSA. Virtual interviews via Zoom and WhatsApp video calls were conducted with engaged participants (bankers, government agencies and private sector employees). Thematic analysis was adopted, and the analysed data was presented in themes. Findings Findings show that the partial and full lockdown resulted in income irregularities in many private businesses. Also, findings identified downsizing, leading to large-scale unemployment, half-monthly income for employees, loss of profit, human resources wastage, etc. Findings reveal that because of the economic shock, many homeowners have not been able to meet up with their monthly mortgage repayment obligation. Also, the absence of financial support in form of socioeconomic needs has not helped the matter. Research limitations/implications The paper is limited to the early negative impacts of Covid-19 on private sector employees’ housing finance homeownership in KSA and data collected via Zoom and WhatsApp video calls across the three main cities. The recommendations that will emerge from this study may be adopted by other Gulf and Islamic countries with similar homeownership repayment challenges. Practical implications This study would stir key stakeholders, especially the policymakers and mortgage institutions to consider future policy principles that focus on who is at the highest risk for housing-related hardships because of the Covid-19 or future pandemic. The outcome can be used to develop an equitable housing policy framework to foster long-term economic mobility and be validated in the future by scholars. Originality/value Similar research in this area is limited, which makes this study one of the pioneering attempts to investigate the early negative impacts of Covid-19 on private sector employees’ housing finance homeownership in KSA. The paper sheds light on the emerged early negative impacts and proffer feasible possible solutions to promote homeownership amongst Saudi citizens.


2021 ◽  
pp. 194855062110228
Author(s):  
Lisa A. Neff ◽  
Marci E. J. Gleason ◽  
Erin E. Crockett ◽  
Oyku Ciftci

The COVID-19 pandemic created a unique climate for examining the links between stressful conditions and couples’ relationship well-being. According to theories of stress spillover, stressors originating outside the relationship, such as work stress and financial uncertainty, often undermine relationship quality. However, if individuals can easily attribute their problems to the stressful circumstances, their relationship may be more resilient. Given the salience of the pandemic, the current study used two waves of 14-day daily diary data collected from 191 participants to examine whether blaming the pandemic for problems may reduce stress spillover. We also expected the buffering effect of pandemic blaming attributions to wane as stressful conditions persisted and continued to tax partners’ coping resources. Multilevel modeling confirmed that women, but not men, who were more blaming of the pandemic exhibited reduced stress spillover during the COVID-19 outbreak; notably, this buffering effect did not weaken over time.


PLoS ONE ◽  
2021 ◽  
Vol 16 (5) ◽  
pp. e0251799
Author(s):  
Zoe M. Volenec ◽  
Joel O. Abraham ◽  
Alexander D. Becker ◽  
Andy P. Dobson

Public parks serve an important societal function as recreational spaces for diverse communities of people, with well documented physical and mental health benefits. As such, parks may be crucial for how people have handled effects of the COVID-19 pandemic, particularly the increasingly limited recreational opportunities, widespread financial uncertainty, and consequent heightened anxiety. Despite the documented benefits of parks, however, many states have instituted park shutdown orders due to fears that public parks could facilitate SARS-CoV-2 transmission. Here we use geotagged social media data from state, county, and local parks throughout New Jersey to examine whether park visitation increased when the COVID-19 pandemic began and whether park shutdown orders were effective at deterring park usage. We compare park usage during four discrete stages of spring 2020: (1) before the pandemic began, (2) during the beginning of the pandemic, (3) during the New Jersey governor’s state-wide park shutdown order, and (4) following the lifting of the shutdown. We find that park visitation increased by 63.4% with the onset of the pandemic. The subsequent park shutdown order caused visitation in closed parks to decline by 76.1% while parks that remained open continued to experience elevated visitation levels. Visitation then returned to elevated pre-shutdown levels when closed parks were allowed to reopen. Altogether, our results indicate that parks continue to provide crucial services to society, particularly in stressful times when opportunities for recreation are limited. Furthermore, our results suggest that policies targeting human behavior can be effective and are largely reversible. As such, we should continue to invest in public parks and to explore the role of parks in managing public health and psychological well-being.


2021 ◽  
pp. 103750
Author(s):  
Giovanni Caggiano ◽  
Efrem Castelnuovo ◽  
Silvia Delrio ◽  
Richard Kima

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