Table 5.

Falsification Tests: Regressions Using Cognition Outcomes

	Financial Literacy	Calculation	Number Series	Matrix Reasoning	Verbal Analogies	Auditory Memory	Visual Matching
Mean dependent variable	−0.367	−0.316	−0.192	0.027	−0.198	0.251	0.383
Expected time to widowhood	−0.041** (0.019)	−0.001 (0.018)	−0.009 (0.017)	−0.036** (0.015)	−0.019 (0.017)	−0.031* (0.018)	−0.017 (0.018)
Expected duration of widowhood	0.051 (0.039)	0.043 (0.037)	0.006 (0.034)	0.044 (0.031)	0.018 (0.036)	0.004 (0.036)	0.063* (0.037)
Woman’s education	0.06 (0.041)	0.144*** (0.040)	0.187*** (0.036)	0.094*** (0.033)	0.144*** (0.038)	0.047 (0.039)	0.068* (0.039)
Husband’s education	−0.107*** (0.038)	−0.147*** (0.037)	−0.123*** (0.034)	−0.067** (0.031)	−0.069* (0.035)	−0.083** (0.035)	−0.085** (0.036)
Woman’s health	0.058 (0.079)	0.192** (0.076)	0.039 (0.070)	0.178*** (0.063)	−0.029 (0.073)	0.116 (0.074)	0.147* (0.075)
Husband’s health	−0.08 (0.075)	−0.026 (0.071)	0.072 (0.066)	0.012 (0.059)	0.069 (0.069)	−0.072 (0.070)	0.042 (0.070)
Wealth decile	−0.017 (0.028)	−0.049* (0.027)	−0.045* (0.025)	−0.039* (0.023)	−0.034 (0.026)	−0.018 (0.026)	−0.056** (0.027)
Constant	0.435 (0.740)	−1.104 (0.710)	−1.145* (0.651)	−0.858 (0.591)	−1.154* (0.682)	1.138 (0.692)	−0.288 (0.707)
R2	0.066	0.136	0.134	0.093	0.074	0.069	0.077
F	2.193	4.832	4.726	3.146	2.401	2.227	2.493
Observations	224	223	222	223	219	219	217

Notes:

^*p<0.1

^**p<0.05

^***p<0.01.

OLS regressions with dependent variables: wife - husband difference in normalized cognition scores as specified in the column labels. These falsification tests reproduce the specification in column (2) of Table 4. The cognition variables are detailed in Section IV.C. Because the cognition scores are normalized, the coefficients are directly comparable with those estimated using the wife-husband difference in financial literacy in column (1).

Data sources: CogEcon and CogUSA.