Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/248567
Authors: 
Fitzenberger, Bernd
Mena, Gary
Nimczik, Jan Sebastian
Sunde, Uwe
Year of Publication: 
2021
Series/Report no.: 
SOEPpapers on Multidisciplinary Panel Data Research No. 1153
Publisher: 
Deutsches Institut für Wirtschaftsforschung (DIW), Berlin
Abstract: 
Economists increasingly recognise the importance of personality traits for socioeconomic outcomes, but little is known about the stability of these traits over the life cycle. Existing empirical contributions typically focus on age patterns and disregard cohort and period influences. This paper contributes novel evidence for the separability of age, period, and cohort effects for a broad range of personality traits based on systematic specification tests for disentangling age, period and cohort influences. Our estimates 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.
Subjects: 
Big Five Personality Traits
Locus of Control
Risk Attitudes
Age-Period Cohort Decomposition
Life Cycle
JEL: 
D8
J1
Document Type: 
Working Paper

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