{"id":"https://openalex.org/W7126310486","doi":null,"title":"The Co-holding Puzzle:New Evidence from Transaction-level Data","display_name":"The Co-holding Puzzle:New Evidence from Transaction-level Data","publication_year":2020,"publication_date":"2020-01-01","ids":{"openalex":"https://openalex.org/W7126310486"},"language":"en","primary_location":{"id":"pmh:oai:research-api.cbs.dk:openaire_cris_publications/03c6f6d5-196e-4712-aa35-692bf2809004","doi":null,"is_oa":false,"landing_page_url":"https://research.cbs.dk/en/publications/03c6f6d5-196e-4712-aa35-692bf2809004","pdf_url":null,"source":{"id":"https://openalex.org/S4306401458","display_name":"CBS Research Portal (Copenhagen Business School)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I180519160","host_organization_name":"Copenhagen Business School","host_organization_lineage":["https://openalex.org/I180519160"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Olafsson, A & Gathergood, J 2020 'The Co-holding Puzzle : New Evidence from Transaction-level Data' Centre for Economic Policy Research. Discussion Papers, no. DP14799, Centre for Economic Policy Research, London. < http://cepr.org/active/publications/discussion_papers/dp.php?dpno=14799 >","raw_type":"info:eu-repo/semantics/workingPaper"},"volume":null,"type":"report","is_traditional":false,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5030632753","display_name":"Arna Olafsson","orcid":"https://orcid.org/0000-0002-8312-3879","observed_orcids":["https://orcid.org/0000-0002-8312-3879"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Olafsson, Arna","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5038173001","display_name":"John Gathergood","orcid":"https://orcid.org/0000-0003-0067-8324","observed_orcids":["https://orcid.org/0000-0003-0067-8324"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Gathergood, John","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.6875,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.6875,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.21799999475479126,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.041600000113248825,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/overdrafts","display_name":"overdrafts","score":0.9160000085830688},{"id":"https://openalex.org/keywords/bank-account-balances","display_name":"bank account balances","score":0.6470000147819519},{"id":"https://openalex.org/keywords/consumer-credit","display_name":"consumer credit","score":0.7739999890327454},{"id":"https://openalex.org/keywords/mental-accounting","display_name":"mental accounting","score":0.7390000224113464},{"id":"https://openalex.org/keywords/household-finance","display_name":"household finance","score":0.4620000123977661},{"id":"https://openalex.org/keywords/transaction-data","display_name":"transaction data","score":0.6039999723434448},{"id":"https://openalex.org/keywords/behavioral-finance","display_name":"behavioral finance","score":0.42500001192092896},{"id":"https://openalex.org/keywords/consumer-debt","display_name":"consumer debt","score":0.31200000643730164}],"concepts":[{"id":"https://openalex.org/C158154518","wikidata":"https://www.wikidata.org/wiki/Q7310970","display_name":"Relevance (law)","level":2,"score":0.6162999868392944},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5842000246047974},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5044000148773193},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5038999915122986},{"id":"https://openalex.org/C159144042","wikidata":"https://www.wikidata.org/wiki/Q1107958","display_name":"Mental accounting","level":2,"score":0.4465999901294708},{"id":"https://openalex.org/C12725497","wikidata":"https://www.wikidata.org/wiki/Q810247","display_name":"Baseline (sea)","level":2,"score":0.42899999022483826},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.41929998993873596},{"id":"https://openalex.org/C31772880","wikidata":"https://www.wikidata.org/wiki/Q2666479","display_name":"Rational agent","level":2,"score":0.38269999623298645},{"id":"https://openalex.org/C120936955","wikidata":"https://www.wikidata.org/wiki/Q2155640","display_name":"Empirical research","level":2,"score":0.35659998655319214},{"id":"https://openalex.org/C2780009758","wikidata":"https://www.wikidata.org/wiki/Q6804172","display_name":"Measure (data warehouse)","level":2,"score":0.35359999537467957},{"id":"https://openalex.org/C127729010","wikidata":"https://www.wikidata.org/wiki/Q60165","display_name":"Dynamic inconsistency","level":2,"score":0.351500004529953},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.3343999981880188},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3206000030040741},{"id":"https://openalex.org/C198477413","wikidata":"https://www.wikidata.org/wiki/Q7647069","display_name":"Survey data collection","level":2,"score":0.27219998836517334},{"id":"https://openalex.org/C2993791488","wikidata":"https://www.wikidata.org/wiki/Q676459","display_name":"Bank account","level":3,"score":0.2615000009536743}],"mesh":[],"locations_count":1,"locations":[{"id":"pmh:oai:research-api.cbs.dk:openaire_cris_publications/03c6f6d5-196e-4712-aa35-692bf2809004","doi":null,"is_oa":false,"landing_page_url":"https://research.cbs.dk/en/publications/03c6f6d5-196e-4712-aa35-692bf2809004","pdf_url":null,"source":{"id":"https://openalex.org/S4306401458","display_name":"CBS Research Portal (Copenhagen Business School)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I180519160","host_organization_name":"Copenhagen Business School","host_organization_lineage":["https://openalex.org/I180519160"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Olafsson, A & Gathergood, J 2020 'The Co-holding Puzzle : New Evidence from Transaction-level Data' Centre for Economic Policy Research. Discussion Papers, no. DP14799, Centre for Economic Policy Research, London. < http://cepr.org/active/publications/discussion_papers/dp.php?dpno=14799 >","raw_type":"info:eu-repo/semantics/workingPaper"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W7112844417","https://openalex.org/W4386903052","https://openalex.org/W4411535303","https://openalex.org/W4412619374","https://openalex.org/W3177149218","https://openalex.org/W3117888071","https://openalex.org/W3123582419","https://openalex.org/W4390722280","https://openalex.org/W3113565338","https://openalex.org/W4309650726"],"abstract_inverted_index":{"Using":[0],"detailed":[1,101],"and":[2,11,30],"highly-disaggregated":[3],"data":[4,43,102],"on":[5,57,76],"spending,":[6],"income,":[7],"bank":[8],"account":[9],"balances,":[10],"consumer":[12],"credit,":[13],"we":[14,121,137,151],"examine":[15,106],"the":[16,34,42,107,111,119],"tendency":[17],"of":[18,36,41,79,89,110,142],"individuals":[19],"to":[20,23,46,105,118,126,157],"\"co-hold\",":[21],"i.e.,":[22],"simultaneously":[24],"hold":[25],"low-interest":[26],"liquid":[27],"deposit":[28],"balances":[29],"high-interest":[31],"debt":[32],"in":[33,83,140],"form":[35],"overdrafts.":[37],"The":[38,100],"disaggregated":[39],"nature":[40],"allows":[44],"us":[45,104],"calculate":[47],"co-holding":[48,65,90,124,145,156],"at":[49],"daily":[50],"frequency,":[51],"while":[52,150],"prior":[53,71],"studies":[54,72],"have":[55,73],"relied":[56],"more":[58],"aggregated":[59],"measures.":[60],"Daily":[61],"measures":[62],"reveal":[63],"that":[64,123],"is":[66],"less":[67,95,161],"common":[68],"than":[69,96,132],"these":[70],"documented,":[74],"occurring":[75],"approximately":[77],"15%":[78],"individual":[80],"\u00c3?":[81],"days":[82],"our":[84],"baseline":[85],"calculations.":[86],"Most":[87],"spells":[88],"are":[91],"also":[92],"short,":[93],"lasting":[94],"one":[97],"calendar":[98],"month.":[99],"allow":[103],"empirical":[108],"relevance":[109],"competing":[112],"explanations":[113,143,154],"for":[114,144,155],"co-holding.":[115],"When":[116],"brought":[117],"data,":[120],"find":[122,138,152],"appears":[125],"be":[127,158],"driven":[128],"by":[129],"behavioral":[130],"rather":[131],"rational":[133,153],"forces.":[134],"More":[135],"specifically,":[136],"evidence":[139],"support":[141],"based":[146],"upon":[147],"mental":[148],"accounting":[149],"empirically":[159],"much":[160],"relevant.":[162]},"counts_by_year":[],"updated_date":"2026-09-27T08:07:27.782135","created_date":"2026-02-01T00:00:00"}