Control thyself: Self-control failure and household wealth

被引:25
|
作者
Biljanovska, Nina [1 ]
Palligkinis, Spyros [2 ]
机构
[1] Int Monetary Fund, Inst Capac Dev, 700 19th St NW, Washington, DC 20431 USA
[2] European Cent Bank, Sonnemannstr 22, D-60314 Frankfurt, Germany
关键词
Self-control; Household wealth; Household finance; FINANCIAL LITERACY; PERSONALITY-TRAITS; MECHANISMS; TEMPTATION; CHILDHOOD; BEHAVIORS; STABILITY;
D O I
10.1016/j.jbankfin.2016.10.010
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
We examine the relationship between self-control and household wealth. Building on literature in psychology, we take a more comprehensive approach to the concept of self-control and posit that it consists of three ingredients: planning, monitoring, and commitment to pre-set goals. We build a measure which combines those three components and can be computed using a standard representative survey. We find that self-control failure is strongly associated with different household net wealth measures and with self-assessed financial distress. (C) 2016 Elsevier B.V. All rights reserved.
引用
收藏
页码:280 / 294
页数:15
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