Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper documents the simultaneous accumulation of liquid assets and credit card debt in euro area countries. Despite its significantly lower prevalence compared to the US, results underscore similarities in the fundamental role of credit constraints and preferences toward risk. Contrary to previous findings with US data, tertiary education does not appear to significantly mitigate this puzzling behavior in the euro area.