Household debt in different age cohorts: A multilevel study

There is a need to identify household debt behaviour in different age cohorts even in countries without prominent household debt problems so that the measures for vulnerable groups can be made. Authors used multilevel mixed effect analysis to test the effect of age and other variables on demand of d...

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Bibliographic Details
Published inCogent economics & finance Vol. 6; no. 1; pp. 1 - 16
Main Authors Haq, Wajiha, Ismail, Noor Azina, Satar, NurulHuda Mohd
Format Journal Article
LanguageEnglish
Published Abingdon Taylor & Francis 01.01.2018
Cogent
Taylor & Francis Ltd
Taylor & Francis Group
Subjects
Age
Age differences
Age groups
assets
Cohort analysis
Consumer credit
debt
education
financial satisfaction
household
Household size
Households
Older people
Sampling
socioeconomic
Socioeconomic factors
stratified
survey
Workers
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Summary:There is a need to identify household debt behaviour in different age cohorts even in countries without prominent household debt problems so that the measures for vulnerable groups can be made. Authors used multilevel mixed effect analysis to test the effect of age and other variables on demand of debt. A national representative survey data of HIES (2001-2013) based on stratified sampling design was used. Household debt in mature workers was higher than youth whereas debt of older people was not significantly different from other cohorts. Education and household size positively affect the demand for debt. This study contributed to existing literature by exploring the demand for debt in different age cohorts, taking into account other socio-economic variables. The design of debt products should be such that mature workers should not accumulate a high level of debt.
ISSN:2332-2039
2332-2039
DOI:10.1080/23322039.2018.1455406