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Banks Information Policies, Financial Literacy and Household Wealth
Fort, Margherita; Manaresi, Francesco; Trucchi, Serena - Institute for the Study of Labor (IZA) - 2012
increase individuals' financial literacy and that the relationship between financial literacy and wealth is largely …
Persistent link: https://www.econbiz.de/10010959735
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Consumption and Savings with Unemployment Risk: Implications for Optimal Employment Contracts
Pissarides, Christopher A. - Institute for the Study of Labor (IZA) - 2004
This paper derives optimal employment contracts when workers are risk averse and there are employment and unemployment risks. Without income insurance, consumption rises during employment and falls during unemployment. Optimal employment contracts offer severance compensation and sometimes give...
Persistent link: https://www.econbiz.de/10005822597
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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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Discounting Financial Literacy: Time Preferences and Participation in Financial Education Programs
Meier, Stephan; Sprenger, Charles - Institute for the Study of Labor (IZA) - 2008
Many policy makers and economists argue that financial literacy is key to financial well-being. But why do many individuals remain financially illiterate despite the apparent importance of being financially informed? This paper presents results of a field study linking individual decisions to...
Persistent link: https://www.econbiz.de/10005761687
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Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data
Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - Institute for the Study of Labor (IZA) - 2014
One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higherincome households. Using household level data on...
Persistent link: https://www.econbiz.de/10010884200
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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 fragile households also have the highest lottery expenditures as a proportion of income. This combination suggests that Prize-Linked Savings (PLS) accounts, that combine...
Persistent link: https://www.econbiz.de/10010959657
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Risk and Saving in Two-Person Households: More Scope for Precautionary Saving
Apps, Patricia; Andrienko, Yuri; Rees, Ray - Institute for the Study of Labor (IZA) - 2012
The existing literature suggests that when the saving decision of two-earner households under risk is analysed, standard results on the existence of precautionary saving no longer apply: precautionary saving is obtained if and only if very stringent conditions hold. This paper shows that when...
Persistent link: https://www.econbiz.de/10010812036
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Pappa Ante Portas: The Retired Husband Syndrome in Japan
Bertoni, Marco; Brunello, Giorgio - Institute for the Study of Labor (IZA) - 2014
employment between mandatory retirement age and full pension eligibility age, to estimate the causal effect of the husband …'s retirement on the wife's mental health. We find that adding one year to the time spent in retirement by Japanese husbands …
Persistent link: https://www.econbiz.de/10010884370
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Joint Retirement of Couples: Evidence from a Natural Experiment
Bloemen, Hans; Hochguertel, Stefan; Zweerink, Jochem - Institute for the Study of Labor (IZA) - 2015
We estimate and explain the impact of early retirement of husbands on their wives’ probability to retire within one … approach in which the retirement choice of husbands is instrumented with eligibility rules for generous early retirement … benefits that were temporarily and unexpectedly available to them. We find that early retirement opportunities of husbands …
Persistent link: https://www.econbiz.de/10011195817
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Job Satisfaction and Self-Selection into the Public or Private Sector: Evidence from a Natural Experiment
Danzer, Natalia - Institute for the Study of Labor (IZA) - 2013
Are public sector jobs better than private sector jobs? To answer this question, this paper investigates observed differences in job satisfaction between public- and private-sector workers and disentangles the effect of worker sorting from the one caused by sector-specific job characteristics. A...
Persistent link: https://www.econbiz.de/10010884142