Arbeitspapier
Who is Resilient in a Time of Crisis? The Importance of Financial and Non-Financial Resources
We identify the individual resources that predicted psychological resilience during the COVID-19 lockdown. Using UK data, we compare psychological distress observed before COVID-19 with distress measured in April, May, and June 2020. After matching respondents on key characteristics, we find that the most important predictor of resilience is non-cognitive skills, as measured by self-efficacy. Self-efficacy also reduces the psychological effects of negative earnings shocks. Neither income, wealth, cognitive ability, nor social capital predicted resilience. Our findings hold when comparing differences between household members. These findings support investments in non-cognitive skill development in order to reduce the damage-function from adverse events.
- Language
-
Englisch
- Bibliographic citation
-
Series: IZA Discussion Papers ; No. 13720
- Classification
-
Wirtschaft
Health: General
- Subject
-
resilience
psychological health
resources
non-cognitive
COVID-19
panel
- Event
-
Geistige Schöpfung
- (who)
-
Johnston, David W.
Kung, Claryn S. J.
Shields, Michael A.
- Event
-
Veröffentlichung
- (who)
-
Institute of Labor Economics (IZA)
- (where)
-
Bonn
- (when)
-
2020
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Johnston, David W.
- Kung, Claryn S. J.
- Shields, Michael A.
- Institute of Labor Economics (IZA)
Time of origin
- 2020
Other Objects (12)
Non-Financial Group Report
Cheap Talk? Financial Sanctions and Non-Financial Activity
Cheap talk? Financial sanctions and non-financial activity
Essays on financial and non-financial transparency regulation
Cheap talk? Financial sanctions and non-financial firms
Cheap Talk? Financial Sanctions and Non-Financial Firms
Essays on non-financial disclosures
Risk information in non-financial disclosure
Non-financial reporting and disclosure regulation
Measuring non-financial forms of capital
Financial and non-financial aspects of entrepreneurship: The Polish perspective
Disclosure of financial and non-financial information : theory and evidence
Non-Financial Group Report
Cheap Talk? Financial Sanctions and Non-Financial Activity
Cheap talk? Financial sanctions and non-financial activity
Essays on financial and non-financial transparency regulation
Cheap talk? Financial sanctions and non-financial firms
Cheap Talk? Financial Sanctions and Non-Financial Firms
Essays on non-financial disclosures
Risk information in non-financial disclosure
Non-financial reporting and disclosure regulation
Measuring non-financial forms of capital
Financial and non-financial aspects of entrepreneurship: The Polish perspective
Disclosure of financial and non-financial information : theory and evidence
Non-Financial Group Report
Cheap Talk? Financial Sanctions and Non-Financial Activity
Cheap talk? Financial sanctions and non-financial activity
Essays on financial and non-financial transparency regulation
Cheap talk? Financial sanctions and non-financial firms
Cheap Talk? Financial Sanctions and Non-Financial Firms
Essays on non-financial disclosures
Risk information in non-financial disclosure
Non-financial reporting and disclosure regulation
Measuring non-financial forms of capital
Financial and non-financial aspects of entrepreneurship: The Polish perspective