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Savings and Prize-Linked Savings Accounts
Atalay, Kadir; Bakhtiar, Fayzan; Cheung, Stephen L.; … - Institute for the Study of Labor (IZA) - 2012
Many households have insufficient savings to handle moderate and routine consumption shocks. Many of these financially …-Linked Savings (PLS) accounts, that combine principal-security with lottery-type jackpots, can increase savings among these at …-risk households. Results from an online experiment show that the introduction of PLS accounts increase total savings and reduce …
Persistent link: https://www.econbiz.de/10010959657
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Funding Self-Employment: The Role of Consumer Credit
Kneiding, Christoph; Kritikos, Alexander S. - Institute for the Study of Labor (IZA) - 2011
This paper investigates whether self-employed households use consumer loans – in particular instalment loans and overdrafts – to finance business activities. Controlling for financial and non-financial household variables we show that self-employed households particularly use personal...
Persistent link: https://www.econbiz.de/10009371179
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Exponential Growth Bias and Financial Literacy
Almenberg, Johan; Gerdes, Christer - Institute for the Study of Labor (IZA) - 2011
The tendency to underestimate the future value of a variable growing at a constant rate, an example of exponential growth bias, has been linked to household financial decision making. We show that exponential growth bias and standard measures of financial literacy are negatively correlated in a...
Persistent link: https://www.econbiz.de/10009151027
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Household Finances and Social Interaction: Bayesian Analysis of Household Panel Data
Brown, Sarah; Ghosh, Pulak; Taylor, Karl - Institute for the Study of Labor (IZA) - 2014
We investigate the relationship between social interaction and household finances using data from the British Household Panel Survey. We contribute to the existing literature by exploring the relationship between a wide range of aspects of household finances and social interaction, rather than...
Persistent link: https://www.econbiz.de/10010959752
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Mortgage Indebtedness and Household Financial Distress
Georgarakos, Dimitris; Lojschova, Adriana; … - Institute for the Study of Labor (IZA) - 2009
Using comparable survey data from twelve European countries we investigate households' attitudes towards mortgage indebtedness. We find that a given debt burden creates much higher distress in Southern countries, France and Belgium, where fewer households have a mortgage outstanding relative to...
Persistent link: https://www.econbiz.de/10008558942
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Social Interaction and Stock Market Participation: Evidence from British Panel Data
Brown, Sarah; Taylor, Karl - Institute for the Study of Labor (IZA) - 2010
This paper uses data from the British National Child Development Study to investigate the relationship between social interaction and participation in the stock market through holding stocks and/or shares at the individual level. In accordance with the existing literature, the results reveal...
Persistent link: https://www.econbiz.de/10008536013
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Present-Biased Preferences and Credit Card Borrowing
Meier, Stephan; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2009
Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to...
Persistent link: https://www.econbiz.de/10004980269
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Under-Savers Anonymous: Evidence on Self-Help Groups and Peer Pressure as a Savings Commitment Device
Kast, Felipe; Meier, Stephan; Pomeranz, Dina - Institute for the Study of Labor (IZA) - 2012
increase savings, they are unavailable to the millions of people worldwide who not have a formal wage bill. Self-help peer … first experiment finds that self-help peer groups are very potent at increasing savings. In contrast, a more classical … tool to encourage savings. …
Persistent link: https://www.econbiz.de/10009646295
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Determinants of Savings and Remittances: Empirical Evidence from Immigrants to Germany
Sinning, Mathias - Institute for the Study of Labor (IZA) - 2007
is the correct specification for the analysis of migrants' savings and remittances rather than the conventional Tobit …
Persistent link: https://www.econbiz.de/10005762099
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The Response of Consumption in Russian Households to Economic Shocks
Stillman, Steven - Institute for the Study of Labor (IZA) - 2001
changes in household savings are negatively related to exogenous income shocks, with this relationship strongest for low … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …
Persistent link: https://www.econbiz.de/10005566824