Household Financial Transaction Data

Lorenz Kueng and Scott Baker

Annual Review of Economics, 2022, vol. 14, issue 1, 47-67

Abstract: The growth of the availability and use of detailed household financial transaction micro data has dramatically expanded the ability of researchers to understand both household decision making and aggregate economic fluctuations across a wide range of fields. This class of transaction data is derived from a myriad of sources, including financial institutions, FinTech apps, and payment intermediaries. We review how these detailed data have been utilized in finance and economics research and analyze both their benefits and limitations as compared to more traditional measures of income, spending, and wealth. Finally, we discuss the future potential of this flexible class of data in firm-focused research, real-time policy analysis, and macro statistics.

Keywords: transaction data; financial account data; household finance; linked accounts; payments data (search for similar items in EconPapers)
JEL-codes: C81 D14 E21 G11 G51 H31 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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Working Paper: Household Financial Transaction Data (2021)
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DOI: 10.1146/annurev-economics-051520-023646

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