Hi, I need to run 2 models in STATA for my 2 research questions.
This is one of my dissertation papers using NFCS state by state waves 2021, 2018 and 2015.
I added a paper that explains how the variables should be coded.
I added the code that I was using too.
Please contact me if you have any questions.
Research Question 1: How does financial well-being differ between divorced women and married women in the US?
Research Question 2: How do financial well-being outcomes vary among white divorced women and non-white divorced women in the US?
Literature Review
Financial Well-Being of Divorced Women
Marital Status and Financial Well-Being
Gender Differences in Financial Well-Being
Ethnicity and Financial Well-Being
Impact of Divorce on Economic Stability
Support Systems and Financial Recovery
Theoretical Framework
Theoretical Framework: Understanding the Impact of Divorce on Financial Well-Being
Divorce is a multifaceted life event that can have profound economic consequences for individuals, particularly women. Drawing upon theories from psychology, sociology, and economics, we aim to elucidate the mechanisms through which divorce influences financial well-being. The stress adjustment model, often utilized in various disciplines to describe the effects of stressors on individual adjustment and behavior, serves as a foundational framework for our analysis (Amato, 2000).
Psychological and Behavioral Effects of Divorce:
The psychological impact of divorce can manifest in various domains, including financial decision-making and wealth management. Stressors inherent in the divorce process, such as sole parenting responsibilities, loss of emotional support, and negative economic effects, can precipitate adjustments in individuals’ financial behaviors and attitudes (Amato et al., 2011). Attachment theory posits that disruptions in attachment bonds resulting from divorce may exacerbate emotional distress, further influencing financial decision-making processes (McMullen, 2011).
Socioeconomic Considerations and Adjustment Factors:
Demographic characteristics, such as income, educational attainment, and employment status, play a crucial role in moderating the effects of divorce on financial well-being. Socioeconomic disparities may exacerbate the financial strain experienced by divorced women, impacting their ability to navigate wealth management tasks effectively. Additionally, feminist theory highlights the systemic inequalities that contribute to women’s economic vulnerability post-divorce, underscoring the need for a gender-sensitive approach to understanding financial outcomes (Carbone, 1994).
Adapting the Stress Adjustment Model for Financial Behaviors:
In adapting the stress adjustment model for the context of financial behaviors post-divorce, we incorporate insights from behavioral economics and financial planning theory. The divorce-stress adjustment model delineates short-term and long-term effects on wealth management, acknowledging the dynamic interplay between individual adjustment processes and external stressors (Amato, 2010). This framework allows us to examine how divorce-induced stressors influence financial decision-making, savings behavior, and investment strategies over time.
Implications for Practice and Policy:
Understanding the complex interplay between divorce and financial well-being has important implications for practitioners and policymakers. By elucidating the mechanisms through which divorce affects wealth management behaviors, we can inform targeted interventions aimed at mitigating financial strain and promoting economic resilience among divorced women. Moreover, recognizing the systemic barriers faced by marginalized populations within this demographic underscores the need for equitable policy reforms to address gender and socioeconomic disparities in post-divorce financial outcomes (Starnes, 2012).
Hypotheses
Research Question 1: How does financial well-being differ between divorced women and married women in the US?
1. Hypothesis 1a: Divorced women will report lower levels of financial well-being compared to married women.
2. Hypothesis 1b: Divorced women will perceive higher levels of financial constraints and anxiety compared to married women.
3. Hypothesis 1c: Divorced women will report less satisfaction with their financial situation compared to married women.
Research Question 2: How do financial well-being outcomes vary among white divorced women and non-white divorced women in the US?
4. Hypothesis 2a: Non-white divorced women will report lower levels of financial well-being compared to white divorced women.
5. Hypothesis 2b: Non-white divorced women will perceive higher levels of financial constraints and anxiety compared to white divorced women.
6. Hypothesis 2c: Non-white divorced women will report less satisfaction with their financial situation compared to white divorced women.
Method
Data
NFCS State by State 2021, 2018 and 2015 waves (I added the dataset)
Only women
Variables
Dependent Variable
Financial Well-Being (FWB) Score (I added the code to create FWB in STATA)
Independent variables
Model 1:
Marital Status
Model 2:
Ethnicity
Control Variables (?)
Age
Income
Employment
Wealth
Children
Financial Literacy (I added the code to create Financial Literacy in STATA)
Objective Financial Knowledge
Financial Satisfaction
Financial anxiety
Indebtedness
Financial fragility
