Note(s): Standard errors in parentheses, ***p < 0.01, **p < 0.05, *p < 0.1

The dependent variable is decrease in income that takes the value one if the person's income diminished from 2019 to 2020 and the value of zero otherwise. Financial preparedness is a dummy variable that takes the value one if the person had any banking instrument such as bank accounts and loans and had extra income to his/her main job during 2019 and zero otherwise. Gender takes the value of one if the person is a male and zero otherwise. Age is a categorial variable that takes the value of one, two, or three depending on the person's age. Urban is a variable that takes the value of one if the person comes from the Lima Metropolitan area and zero otherwise and Year 2020 is a dummy variable that takes the value of one in 2020 and zero otherwise. Financial preparedness × 2020 is an interaction variable that multiplies the Financial Preparedness dummy for 2020 times the Year 2020 dummy

Source(s): ENAHO. Own elaboration