The financial consequences of undiagnosed memory disorders

Carole Roan Gresenz; Jean M. Mitchell; Belicia Rodriguez; Crystal Wang; Raymond Scott Turner; Wilbert van der Klaauw

doi:10.1016/j.jfineco.2025.104149

Journal of Financial Economics Vol. 172 2025

The financial consequences of undiagnosed memory disorders

Carole Roan Gresenz¹; Jean M. Mitchell^2,1; Belicia Rodriguez³; Crystal Wang³; Raymond Scott Turner^1,4; Wilbert van der Klaauw

¹ Georgetown University · ² Public Policy Institute of California · ³ Federal Reserve Bank of New York · ⁴ Georgetown University Medical Center

open access

Abstract

We examine the effect of undiagnosed memory disorders on credit outcomes using individually-matched nationally representative credit reporting and Medicare data. We find effects of early stage disease, years before diagnosis, on a wide range of financial outcomes, including credit card account payment delinquency and amount of delinquent balance, credit utilization among credit card account holders, mortgage delinquency and delinquent balance amount, and credit scores. Effects are pervasive, affecting seniors in single and coupled households, racial/ethnic minorities and non-minorities, and older adults living in areas with higher and lower education levels. Early stage effects are greater among singles and Black individuals.

DOI: 10.1016/j.jfineco.2025.104149
Volume: 172
Pages: 104149
Language: en
Sources: bibtex:phds-export.bib openalex crossref

The financial consequences of undiagnosed memory disorders

Abstract

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