The financial consequences of undiagnosed memory disorders

• 成果类型: Article
• 署名作者: Gresenz, Carole Roan; Mitchell, Jean M.; Rodriguez, Belicia; Wang, Crystal; Turner, R. Scott; van der Klaauw, Wilbert
• 署名单位: Georgetown University; Georgetown University; Federal Reserve System - USA; Federal Reserve Bank - New York; Georgetown University; Duke University; Stanford University
• 刊物名称: JOURNAL OF FINANCIAL ECONOMICS
• ISSN/ISSBN: 0304-405X
• DOI: 10.1016/j.jfineco.2025.104149
• 发表日期: 2025
• 关键词: Household finance; Credit behavior; cognitive function; Alzheimer's disease and related dementia

摘要

We examine the effect of undiagnosed memory disorders on credit outcomes using individually-matched nationally representative credit reporting and Medicare data. We find effects of early stage disease, years before diagnosis, on a wide range of financial outcomes, including credit card account payment delinquency and amount of delinquent balance, credit utilization among credit card account holders, mortgage delinquency and delinquent balance amount, and credit scores. Effects are pervasive, affecting seniors in single and coupled households, racial/ethnic minorities and non-minorities, and older adults living in areas with higher and lower education levels. Early stage effects are greater among singles and Black individuals.