Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/300504 
Year of Publication: 
2024
Series/Report no.: 
Staff Report No. 1106
Publisher: 
Federal Reserve Bank of New York, New York, NY
Abstract: 
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 findings substantiate the possible utility of credit reporting data for facilitating early identification of those at risk for memory disorders.
Subjects: 
debt repayment
memory disorders
credit cards
mortgages
JEL: 
I1
G41
G51
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.