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After the Farm Crisis: Religiosity in the Rural United States
Orman, Wafa Hakim - Institute for the Study of Labor (IZA) - 2013
The farm crisis in the United States in the 1980s had profound effects on rural, agricultural regions of the country, but almost no impact on urban and suburban areas. I use a difference-in-difference methodology and find that religiosity as measured by religious attendance increased...
Persistent link: https://www.econbiz.de/10010685369
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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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Not So Lucky Any More: CEO Compensation in Financially Distressed Firms
Kang, Qiang; Mitnik, Oscar A. - Institute for the Study of Labor (IZA) - 2008
There is a debate on whether executive pay reflects rent extraction due to "managerial power" or is the result of arms-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically examining the CEO compensation of U.S. public...
Persistent link: https://www.econbiz.de/10005761844
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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
We investigate the causal effect of financial literacy on financial assets, exploiting banks information policies for identification. In Italy, banks who belong to the PattiChiari consortium have implemented policies aimed at increasing transparency and procedural simplification. These policies...
Persistent link: https://www.econbiz.de/10010959735
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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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Bringing Financial Literacy and Education to Low and Middle Income Countries: The Need to Review, Adjust, and Extend Current Wisdom
Holzmann, Robert - Institute for the Study of Labor (IZA) - 2010
This paper presents a World Bank led and Russia trust fund financed work program to measure financial capability and the effectiveness of financial education in low and middle income countries. The two activities and their staging have been motivated by the lessons of high-income countries with...
Persistent link: https://www.econbiz.de/10008466447
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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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Leaving Poverty Behind? The Effects of Generous Income Support Paired with Activation
Markussen, Simen; Røed, Knut - Institute for the Study of Labor (IZA) - 2014
, stable, and non-means-tested benefit. Its main aims are to mitigate poverty and subsequently promote self …
Persistent link: https://www.econbiz.de/10010884111
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Minimum Wage: Does It Improve Welfare in Thailand?
Del Carpio, Ximena; Messina, Julián; Sanz-de-Galdeano, Anna - Institute for the Study of Labor (IZA) - 2014
We study the causal impact of the minimum wage on employment and welfare in Thailand using a difference-in-difference approach that relies on exogenous policy variation in minimum wages across provinces. We find that minimum-wage increases have small disemployment effects on female, elderly, and...
Persistent link: https://www.econbiz.de/10010884132
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Poverty, Labour Markets and Trade Liberalization in Indonesia
Kis-Katos, Krisztina; Sparrow, Robert - Institute for the Study of Labor (IZA) - 2013
We measure the effects of trade liberalization over the period of 1993-2002 on regional poverty levels in 259 … four three-year periods. We find that poverty reduced more in regions that were more strongly exposed to import tariff … increasing firm competitiveness as a driving factor behind the beneficial poverty effects. …
Persistent link: https://www.econbiz.de/10010884152