Macroeconomy, Financial Crisis, and Sentinel Psychological Factors of Salient Financial Identity: Anxiety, Loneliness, Anger, and Depression Before, During, and After the Great Recession of 2007 to 2009

Abstract

Influences of economic environment contributing to change in factors of psychological distress were studied in relation to the central macroeconomic event of the Great Recession using an epidemiological approach with big data from a 24/7 crisis center in a large Canadian city. The data set consisted of all calls to the helpline from January 2005 to June 2012 identified as having a salient financial identity associated with money problems or unemployment. Gender-differentiated analysis revealed that prevalence of loneliness, depression, and anger related to personal finance consistently remained greater for males despite economic change. Prevalence of male anxiety and loneliness increased the most prior to the Great Recession; whereas, female anxiety and anger increased more than pre-recession loneliness. This thesis explores factors that may play a role in individual psychological distress and how applied psychology may benefit from an expanded and systemic understanding of a client in relation to the economy.