Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/100157 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
CeDEx Discussion Paper Series No. 2012-02
Verlag: 
The University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx), Nottingham
Zusammenfassung: 
We use UK household survey data incorporating measures of financial literacy and behavioural characteristics to analyse the puzzling co-existence of high cost revolving consumer credit alongside low yield liquid savings in household balance sheets, which we term the 'co-holding puzzle'. Approximately 20% of households in our sample co-hold, on average, £6,500 of revolving consumer credit alongside £8,000 of liquid savings. Co-holders are typically more financially literate, with above average income and education. However, we show co-holding is also associated with impulsive spending behaviour on the part of the household. Our results lend empirical support to theoretical models in which sophisticated households co-hold as a means of managing a self-control problem.
Schlagwörter: 
Consumer credit
Self-control
Financial literacy
JEL: 
D03
D10
D12
E21
Dokumentart: 
Working Paper

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