Back in 1988 Joel Slemrod published an analysis that looked fear of a nuclear doomsday and the national savings rate.
“The magnitude of the estimated’ effect Is large, suggesting that an increase of 10 percent in the fraction of the population that believes a world war is likely is associated with a decline of 4.1 percentage points in the net private saving rate.”
Saving and the Fear of Nuclear War
https://journals.sagepub.com/doi/abs/10.1177/002200278603000…
www.nber.org/papers/w2801#:~:text=The%20magnitude%20of%20the….
DB2