Personality Traits Across the Life Cycle: Disentangling Age, Period and Cohort Effects

Bernd Fitzenberger, Gary Mena, Jan Nimczik and Uwe Sunde

The Economic Journal, 2022, vol. 132, issue 646, 2141-2172

Abstract: Economists increasingly recognise the importance of personality traits for socio-economic outcomes, but little is known about the stability of these traits over the life cycle. Existing empirical contributions typically focus on age patterns and disregard cohort and period influences. This paper contributes novel evidence for the separability of age, period and cohort effects for a broad range of personality traits based on systematic specification tests for disentangling age, period and cohort influences. Our estimates document that, for different cohorts, the evolution of personality traits across the life cycle follows a stable, though non-constant, age profile, while there are sizeable differences across time periods.

Date: 2022
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Related works:
Working Paper: Personality Traits Across the Life Cycle: Disentangling Age, Period, and Cohort Effects (2021)
Working Paper: Personality Traits Across the Life Cycle: Disentangling Age, Period, and Cohort Effects (2019)
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