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Consumer Credit Events Before and After Dementia Diagnosis

Author

Listed:
  • Lauren Hersch Nicholas

    (Johns Hopkins University)

  • Joanne Hsu

    (Federal Reserve Board of Governors)

Abstract

Anecdotal evidence suggests that changes in thinking and memory due to dementia can lead to large financial losses. We test this using linked Medicare claims and FRBNY/Equifax CCP data. We find that missed payments increase up to 4 years prior to a dementia diagnosis and persist after diagnosis. Tracking financial outcomes could potentially contribute to earlier dementia diagnosis or help financial institutions identify suspicious transactions and take steps to protect consumers.

Suggested Citation

  • Lauren Hersch Nicholas & Joanne Hsu, 2019. "Consumer Credit Events Before and After Dementia Diagnosis," Working Papers wp418, University of Michigan, Michigan Retirement Research Center.
    • Handle: RePEc:mrr:papers:wp418
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    References listed on IDEAS

    as
    1. Robert B. Avery & Paul S. Calem & Glenn B. Canner, 2004. "Credit report accuracy and access to credit," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 90(Sum), pages 297-322.
    2. Robert B. Avery & Paul S. Calem & Glenn B. Canner, 2003. "An overview of consumer data and credit reporting," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 89(Feb), pages 47-73, February.
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