Deaf bilinguals' language proficiency, job prestige and earnings
We study pension planning and financial wealth of natives and immigrants (N=1177) in the Netherlands, in relation to their temporal values (past/future-focused), financial knowledge, IQ, and other individual characteristics. We find that, compared to natives, immigrants are less financially literate and rely more on the government for their retirement income, but are more future-focused and think more about their retirement. Second, controlling for financial knowledge, IQ, saving intention, health, self-control and demographic factors, temporal values help to predict many aspects of pension planning: how much people think about retirement, their desired retirement age, whether they develop a plan to save for retirement, perceived saving adequacy, and home ownership. Furthermore, temporal values predict savings and financial wealth in 2016 and 2020, even after controlling for the financial situation in 2016. In conclusion, habitually attending to the past leads people to give less priority to the future compared to the past, which has consequences for people’s planning and behaviour such as retirement planning and financial well-being. Our results have strong implications for policies related to pension communication and contribute to the theory on relationships between economic decisions, time and cognition.
We study the effect of people’s temporal values (habits of attending to past or future events) on their health, labour market performance and happiness. Participants’ (N=1177) data were initially collected in 2016 and then again in a follow-up study in 2020-2021. We find that habitually more attending to the future is negatively associated with diseases (heart attack; high cholesterol; diabetes; high-blood pressure; Covid19), but positively with health-related behaviour (eating vegetables and fruit; less smoking), health status (e.g., healthy weight; long life expectancy), income, hourly wage, financial satisfaction and happiness. Furthermore, such temporal values predict participants’ future situation of these aspects of well-being in 2020-2021, even after controlling for the 2016 baseline situation, IQ, self-control, patience, risk aversion and demographic information. Given that habitually attending to the past is likely to lead people to give less priority to the future compared to the past, we propose a temporal values and well-being hypothesis: Temporal values have consequences for people’s planning and behaviour, thus influencing individuals’ concurrent and longitudinal overall well-being. Our findings have strong implications for theories of time perception, measurements of temporal values, and for a better understanding of factors that influence people’s health, income, and happiness.
We study the effect of Dutch proficiency on immigrants’ labour market performance, savings and financial wealth in the Netherlands. Different from past research, we had participants (N=659) take a language proficiency test apart from self-reported assessments, and measured participants’ IQ, patience, saving intention, risk aversion, self-control, temporal focus, etc. to better control for individual characteristics. Immigrants’ labour market performance and financial wealth were initially surveyed in 2016, and then again in 2020-2021. We find that Dutch proficiency affects immigrants’ earnings (employment probabilities; income; hourly wages) in 2016 and predicts participants’ earnings in 2021 even after controlling for the baseline in 2016, individual characteristics and demographic information. Furthermore, the results for the first time reveal that language proficiency can also predict immigrants’ current and future savings and financial wealth. Importantly, using an instrumental variables approach we show that language proficiency has a causal effect. Our findings have theoretical and policy implications.
We investigated (1) what psychological (e.g., five big personality traits, self-esteem) and social-demographic factors contribute to the prevalence and intensity of drug use in the Netherlands and (2) the impact of taking illicit drugs on individuals’ (N=1170) health, labour market performance and financial wealth. First, analyses of various factors showed that emotional stability, employment status, urban character of the place of residence, number of children, gender, and compliance with parents can predict individuals’ drug use concurrently. Particularly, emotional stability, employment and gender can still predict drug use four years later, even when the concurrent baseline of drug use has been additionally controlled for. Instrumental variable analysis suggested that emotional stability may have a causal effect. Furthermore, we showed that, controlling for standard demographic factors, self-control, patience, risk aversion, IQ, etc., taking drugs negatively relate to participants’ physical health (e.g., general health, BMI, disease days, diabetes, and recurrent complaints) and mental health (e.g., feeling more depressed and anxious; less happy or calm), as well as predicts a significantly lower employment possibilities, income, and financial wealth than non-drug users. Our results not only show the consequences of taking drugs for different aspects of well-being, but also suggest that an intervention for drug users may also give more importance to their emotional stability and employment opportunities.
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