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Fitzenberger, Bernd
Mena, Gary
Nimczik, Jan Sebastian
Sunde, Uwe
Year of Publication: 
Series/Report no.: 
Discussion Paper No. 214
Despite the importance for socio-economic outcomes, there is an ongoing debate about the stability of personality traits over the life cycle. By disentangling age, period and cohort influences on personality traits, this paper adds to the existing empirical contributions, which often focus on age patterns and disregard cohort and period influences. We present the results from systematic specification tests that provide novel evidence for the separability of age, period, and cohort effects in almost all personality traits. Our estimates also document that for different cohorts, the evolution of personality traits across the life-cycle follows a stable, though non-constant, age-profile, while there are sizeable differences across time periods
Big Five personality traits
Locus of Control
Risk attitudes
age-periodcohort decomposition
life cycle
Document Type: 
Working Paper

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