Citation

Discussion Paper Details

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Title: Attitudes Toward Debt and Debt Behavior

Author(s): Johan Almenberg, Annamaria Lusardi, Jenny S�ve-S�derbergh and Roine Vestman

Publication Date: May 2020

Keyword(s): Attitude Survey, Household borrowing decisions, Intergenerational transmission, personal finance and spending

Programme Area(s): Financial Economics

Abstract: We introduce a novel survey measure of attitude toward debt. Matching our survey results with panel data on Swedish household balance sheets from registry data, we show that our debt attitude measure helps explain individual variation in indebtedness as well as debt build-up and spending behavior in the period 2004�??2007. As an explanatory variable, debt attitude compares well to a number of other determinants of debt, including education, risk-taking, and financial literacy. We also provide evidence that suggests that debt attitude is passed down along family lines and has a cultural element.

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Bibliographic Reference

Almenberg, J, Lusardi, A, S�ve-S�derbergh, J and Vestman, R. 2020. 'Attitudes Toward Debt and Debt Behavior'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=14801