ArticleProceedings of the National Academy of Sciences of the United States of America2025
The effect of job loss on risky financial decision-making.
Article in Proceedings of the National Academy of Sciences of the United States of America, 2025. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 2 papers.
What it found
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The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.
The trial behind it
Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.
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Who cites it
2 citing papers in PubMed.
- Cumulative layoffs in adulthood and cognitive function in mid-to-later life among US working-age adults, 1979-2020.American journal of epidemiology · 2026Article
- The effect of job loss on risky financial decision-making.Proceedings of the National Academy of Sciences of the United States of America · 2025Article
Corrections and comments
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Authors and funding
5 authors.
Funding
Abstract
Job loss is a common and disruptive life event. It is known to have numerous long-term negative effects on financial, health, and social outcomes. While the negative effects of becoming unemployed on health and well-being are well understood, the influence of job loss on financial decisions has received little attention. Across a large-scale survey ([Formula: see text]), spending data from a bank ([Formula: see text]), and two online experiments (total [Formula: see text]), we find that job loss increases financial risk-taking. First, in survey data, job loss is associated with elevated levels of self-reported financial risk-taking and lottery ticket purchases. Next, using administrative data from a large bank, we find consistent causal evidence of the influence of job loss on gambling spending. Although total spending decreases after job loss, gambling spending is less affected than our control categories. Finally, we turn to two incentive-compatible manipulations of job loss operationalized in a lab setting. We find that this experimental manipulation increases the take-up of financial risks. The current finding that job loss increases financial risk-taking could accentuate long-term negative financial effects of job loss.
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Registered trials
Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.