Replication data for: Generational Differences in Managing Personal Finances
Principal Investigator(s): View help for Principal Investigator(s) Bruce Carlin; Arna Olafsson; Michaela Pagel
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| P2019_1011_data | 12/07/2019 03:26:PM | ||
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text/plain | 14.6 KB | 12/07/2019 10:26:AM |
Project Citation:
Carlin, Bruce, Olafsson, Arna, and Pagel, Michaela. Replication data for: Generational Differences in Managing Personal Finances. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116455V1
Project Description
Summary:
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In this article, we provide a descriptive account of how people from different generations vary in their use of financial management technology, their access credit markets, and how they finance consumption and incur financial costs and penalties. We use a detailed panel of transaction-level data from Iceland on individual spending, incomes, balances, and credit limits from a personal financial management software. We find that technology adoption is faster for millennials, but use of consumer credit and financial penalties are higher for older generations. While the "coholding puzzle" exists for all people, it appears to be more severe for baby boomers.
Scope of Project
JEL Classification:
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D14 Household Saving; Personal Finance
D14 Household Saving; Personal Finance
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