Table 2.

Linear regression explaining the discrepancy in anticipated changes in private economic situation versus national/global economic situation.

Variables	UK	UK	Sweden	Sweden
	household vs.	household vs.	household vs.	household vs.
	country	world	country	world
Financial ignorance	−0.092⁎⁎	−0.081	−0.210⁎⁎⁎	−0.173⁎⁎⁎
	(0.042)	(0.043)	(0.046)	(0.047)
Financial literacy	0.028	0.003	0.087⁎⁎⁎	0.093⁎⁎⁎
	(0.032)	(0.035)	(0.032)	(0.034)
Female	0.041	−0.013	0.071	0.050
	(0.053)	(0.058)	(0.061)	(0.063)
Age	0.006⁎⁎⁎	0.006⁎⁎⁎	0.002	0.004
	(0.002)	(0.002)	(0.002)	(0.002)
Income	0.026	0.031	0.043⁎⁎	0.058⁎⁎⁎
	(0.024)	(0.026)	(0.018)	(0.018)
College or further	0.049	0.006	−0.070	−0.044
education	(0.081)	(0.087)	(0.105)	(0.108)
Bachelor’s degree	0.128	0.073	−0.044	0.020
	(0.077)	(0.083)	(0.114)	(0.117)
Master’s degree or	0.296⁎⁎⁎	0.214⁎⁎	0.014	0.052
higher	(0.095)	(0.101)	(0.112)	(0.114)
Constant	0.200	0.260	0.716⁎⁎⁎	0.602⁎⁎⁎
	(0.162)	(0.179)	(0.193)	(0.198)
Observations	999	999	1021	1021
R-squared	0.041	0.029	0.056	0.060

Note: Outcome variable: discrepancy in perceived changes in private economic situation versus national/global economic situation. Financial ignorance takes values between 1 (low financial ignorance) and 5 (high financial ignorance); Financial literacy takes values between 0 (low fin. literacy) and 3 (high fin. literacy); Income is an ordinal variable. In the UK, Income represents individual’s income, where the lowest category is “£1000 or less” and the highest category is “more than £4000”. In Sweden, Income represents household income where the lowest category is “less than 15 000 SEK” and the highest category is “55 000 SEK or more”. Reference category for education is secondary education. Robust standard errors in parentheses.

^**$p<0.05$.

^***$p<0.01$.