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Report
The Financial Consequences of Undiagnosed Memory Disorders
We examine the effect of undiagnosed memory disorders on credit outcomes using nationally representative credit reporting data merged with Medicare data. Years prior to eventual diagnosis, average credit scores begin to weaken and payment delinquency begins to increase, overall and for mortgage and credit card accounts specifically. Credit outcomes consistently deteriorate over the quarters leading up to diagnosis. The harmful financial effects of undiagnosed memory disorders exacerbate the already substantial financial pressure households face upon diagnosis of a memory disorder. Our ...
Report
Cognitive Health, Household Financial Decision-Making, and Intrahousehold Financial Spillovers
We study the spillover effects of cognitive decline in one member of a coupled household on the financial outcomes of their partner and assess how “own” and spillover effects are moderated by the structure of household financial decision-making. We use a large, nationally representative longitudinal data set spanning 2000-2017 that includes credit report data merged at the individual level with Medicare claims and enrollment data. We find the own adverse financial consequences of cognitive decline depend on household financial integration and other characteristics associated with ...