Consumer behaviour influences financial distress: ECB paper
A European Central Bank paper, published on Monday, finds evidence that behavioural traits play a significant role in financial distress and the ability of individuals to stay out of financial trouble.
Yvonne McCarthy, the paper's author, uses a representative survey of financial capability and experience in the UK and Ireland to investigate individuals' capacities for self-control, planning and patience in periods of financial distress.
McCarthy shows these behavioural factors are both
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