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The Impact of Financial Education for Youth in Ghana
Berry, James; Karlan, Dean S.; Pradhan, Menno - C.E.P.R. Discussion Papers - 2015
offered financial education. Both programs included a voluntary after-school savings club that provided students with a locked … money box. After nine months, both programs had significant impacts on savings behavior relative to the control group …, mostly because children moved savings from home to school. We observed few other impacts. We do find that financial education …
Persistent link: https://www.econbiz.de/10011249377
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Trickle-Down Consumption
Bertrand, Marianne; Morse, Adair - C.E.P.R. Discussion Papers - 2015
Using state-level variation over time in the top deciles of the income distribution, we observe that non-rich households consume a larger share of their current income when exposed to a higher top income and consumption levels. We argue that permanent income, wealth effects, and upward local...
Persistent link: https://www.econbiz.de/10011196035
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Learning and Microlending
Drugov, Mikhail; Macchiavello, Rocco - C.E.P.R. Discussion Papers - 2008
borrowing and savings at unfavorable interest rates as well as the failure to undertake profitable and easily available …
Persistent link: https://www.econbiz.de/10005656410
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Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets
Black, Sandra; Devereux, Paul J.; Lundborg, Petter; … - C.E.P.R. Discussion Papers - 2015
We investigate whether acquiring more education when young has long-term effects on risk-taking behavior in financial markets and whether the effects spill over to spouses and children. There is substantial evidence that more educated people are more likely to invest in the stock market....
Persistent link: https://www.econbiz.de/10011249373
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
Private pension provision faces the challenging task of providing stable income streams during retirement. The challenge has increased markedly in the last decades due to volatile financial markets, falling interest rates and the withdrawal of employers and external insurers as risk bearers of...
Persistent link: https://www.econbiz.de/10011252616
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Insolvency After the 2005 Bankruptcy Reform
Albanesi, Stefania; Nosal, Jaromir - C.E.P.R. Discussion Papers - 2015
Using a comprehensive panel data set on U.S. households, we study the effects of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), the most substantive reform of personal bankruptcy in the United States since the Bankruptcy Reform Act of 1978. The 2005 legislation...
Persistent link: https://www.econbiz.de/10011252618
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Trading on Advice
Hackethal, Andreas; Inderst, Roman; Meyer, Steffen - C.E.P.R. Discussion Papers - 2010
Why do people trade? Because they are told to! Using a unique dataset from a large German bank, we find that retail investors who report that they rely heavily on their advisors’ recommendations have a substantially higher trading volume and purchase a higher fraction of investment products...
Persistent link: https://www.econbiz.de/10008692312
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Perceptions, Expectations, and Entrepreneurship: The Role of Extreme Events
Brück, Tilman; Llussá, Fernanda; Tavares, José - C.E.P.R. Discussion Papers - 2010
We provide, for the first time, comparative evidence of the impact of various types of extreme events – natural disasters, terrorism, and violent conflicts – on the perceptions of entrepreneurs concerning some key entrepreneurial issues – such as fear of failure in starting a business...
Persistent link: https://www.econbiz.de/10008692319
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Durable consumption and asset management with transaction and observation costs
Alvarez, Fernando; Guiso, Luigi; Lippi, Francesco - C.E.P.R. Discussion Papers - 2010
The empirical evidence on rational inattention lags far behind the theoretical developments: micro evidence on the most immediate consequence of observation costs - the infrequent observation of state variables - is not available in standard datasets. We contribute to filling the gap with two...
Persistent link: https://www.econbiz.de/10008468638
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Who Gets the Credit? And Does It Matter? Household vs. Firm Lending across Countries
Beck, Thorsten; Büyükkarabacak, Berrak; Rioja, Felix; … - C.E.P.R. Discussion Papers - 2009
While theory predicts different effects of household credit and enterprise credit on the economy, the empirical literature has mainly used aggregate measures of overall bank lending to the private sector. We construct a new dataset from 45 developed and developing countries, decomposing bank...
Persistent link: https://www.econbiz.de/10005048558