Premium
AN ECONOMIC ANALYSIS OF PERSONAL DEBT
Author(s) -
Cameron S.,
Golby D.
Publication year - 1990
Publication title -
bulletin of economic research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 29
eISSN - 1467-8586
pISSN - 0307-3378
DOI - 10.1111/j.1467-8586.1990.tb00673.x
Subject(s) - cognitive dissonance , debt , economics , position (finance) , control (management) , sample (material) , household debt , monetary economics , actuarial science , macroeconomics , psychology , finance , social psychology , chemistry , management , chromatography
The treatment of debt in conventional economic theory is considered and compared with recent writings on the economics of self‐control and cognitive dissonance. The paper considers factors influencing the level of debt, conditional on debt being greater than zero and goes on to report a multivariate analysis of a sample of individuals in this position. The data comes from the case records of money advisers in Citizens Advice Bureaux (CABS) in Staffordshire. The amount of debt is found to be correlated with indicators of life cycle and a measure of the exercise of self‐control.