G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11900
DP11900 Understanding the Determinants of Financial Outcomes and Choices: The Role of Noncognitive Abilities
Kim Peijnenburg; Gianpaolo Parise
发表日期2017-03-10
出版年2017
语种英语
摘要We explore how financial distress and choices are affected by noncognitive abilities. Our measures stem from research in psychology and economics. In a representative panel of households, we find that people in the bottom decile of noncognitive abilities are five times more likely to experience financial distress compared to those in the top decile. Relatedly, individuals with lower noncognitive abilities make financial choices that increase their likelihood of distress: They are less likely to plan for retirement and save, and more likely to buy impulsively and to have unsecured debt. Causality is shown using childhood trauma as an instrument.
主题Financial Economics
关键词Noncognitive abilities Financial distress Financial choices Saving Unsecured debt Behavioral finance Psychology and economics
URLhttps://cepr.org/publications/dp11900
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/540712
推荐引用方式
GB/T 7714
Kim Peijnenburg,Gianpaolo Parise. DP11900 Understanding the Determinants of Financial Outcomes and Choices: The Role of Noncognitive Abilities. 2017.
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