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Personal economic anxiety in response to COVID-19

Open access
Mann, Frank D., Krueger, Robert F., Vohs, Kathleen D.·2020·Personality and Individual Differences

Abstract

The economic effects of COVID-19 have been far-reaching. Using a sample of adults from the United States (n = 513), the present study examined demographic and individual correlates of anxiety about financial hardship on March 17th, 2020, the day after historic stock market drops in response to the emerging COVID-19 crisis. Confirmatory factor analysis models determined that a unidimensional approach best accounted for covariation among types of economic anxiety. Zero-order and semi-partial correlations with economic anxiety were estimated. Younger adults tended to report greater anxiety than older adults. Black respondents reported significantly more anxiety, whereas respondents without children living at home reported less anxiety. Low collective self-esteem, low conscientiousness, and low openness to experience were associated with greater economic anxiety. High neuroticism, perceived vulnerability to disease, and belongingness stemming from large group activities also were associated with greater anxiety. The current study provides a first glance at individual differences in understanding who may experience economic anxiety due to the COVID-19 pandemic.

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Metadata

Authors
Mann, F. D., Krueger, R. F., & Vohs, K. D.
Venue
Personality and Individual Differences
Publisher
Elsevier BV
Published
2020-12
Volume
167
Pages
110233
ISSN
0191-8869 (ISSN-L)
OpenAlex
W3039990560
Cited by
160
References
7
FWCI
12.17
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Personal economic anxiety in response to COVID-19. https://app.cochat.ai/papers/10.1016/j.paid.2020.110233
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Mann, F. D., Krueger, R. F., & Vohs, K. D. (2020). Personal economic anxiety in response to COVID-19. Personality and Individual Differences. https://doi.org/10.1016/j.paid.2020.110233

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