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Universalizing the Access to Long-term Care : Evidence from Spain

Costa-Font, Joan; Jiménez-Martín, Sergi; Vilaplana … - National Bureau of Economic Research - 2023

Spain together with Scotland are two countries that exhibit the largest expansions in long term care (LTC) in the last two decades, universalizing subsidies and supports. This paper is part of a global effort to provide a snapshot of the trends in LTC use and access, as well as the financing,...

Persistent link: https://www.econbiz.de/10014436956

Households' Response to the Wealth Effects of Inflation

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2023

concerned about its impact on their wealth; yet, while many households know about inflation eroding nominal assets, most are … unaware of nominal-debt erosion. Once they receive information on the debt-erosion channel, households update upwards their … beliefs about nominal debt and their own real net wealth. These changes in beliefs causally affect actual consumption and …

Persistent link: https://www.econbiz.de/10014372429

Aspiring to a Better Future : Can a Simple Psychological Intervention Reduce Poverty?

Orkin, Kate; Garlick, Robert; Mahmud, Mahreen; … - National Bureau of Economic Research - 2023

How do aspirations influence investment decisions for people living in poverty? Does this change as peoples economic conditions improve? To answer these questions, we design a workshop teaching techniques to raise aspirations and plan to achieve them. We cross-randomise this with large...

Persistent link: https://www.econbiz.de/10014372492

Gambling Away Stability : Sports Betting's Impact on Vulnerable Households

Baker, Scott; Balthrop, Justin; Johnson, Mark J.; … - National Bureau of Economic Research - 2024

We estimate the causal effect of online sports betting on households' investment, spending, and debt management … value investments. These effects concentrate among financially constrained households, as credit card debt increases …

Persistent link: https://www.econbiz.de/10015145059

Household Saving in Japan : The Past, Present, and Future

Horioka, Charles - National Bureau of Economic Research - 2024

This paper explores the determinants of the level of, and trends over time in, Japan's household saving rate, with emphasis on the impact of the age structure of the population, and makes projections about future trends therein. The paper finds that Japan's household saving rate has not always...

Persistent link: https://www.econbiz.de/10015145132

Investor Memory and Biased Beliefs : Evidence from the Field

Jiang, Zhengyang; Liu, Hongqi; Peng, Cameron; Yan, Hongjun - National Bureau of Economic Research - 2024

We survey a large, representative sample of retail investors in China to elicit their memories of stock market investments and their return expectations. We merge this survey data with administrative transaction data to test a model in which investors selectively recall past experiences to form...

Persistent link: https://www.econbiz.de/10015171629

Financial Inclusion Across the United States

Yogo, Motohiro; Whitten, Andrew; Cox, Natalie - National Bureau of Economic Research - 2024

We study retirement and bank account participation for the universe of U.S. households with a member aged 50 to 59 in the administrative tax data. ZCTA-level average income, income inequality, and racial composition predict retirement account participation for low-income households, conditional...

Persistent link: https://www.econbiz.de/10015171659

Open Banking and Digital Payments : Implications for Credit Access

Alok, Shashwat; Ghosh, Pulak; Kulkarni, Nirupama; Puri, … - National Bureau of Economic Research - 2024

Does the ability to generate verifiable digital financial histories, with customers having data-sharing rights, improve credit access? We answer this using India's launch of an Open-Banking based public digital payment infrastructure (UPI). Using rarely available data on the universe of consumer...

Persistent link: https://www.econbiz.de/10015171662

Diffusion in Social Networks : Experimental Evidence on Information Sharing vs Persuasion

Fafchamps, Marcel; Islam, Asad; Pakrashi, Debayan; … - National Bureau of Economic Research - 2024

We conduct a clustered randomized controlled trial across 180 villages in Uttar Pradesh, India, to promote the take-up of a savings commitment product newly introduced to our study population. A random subset of participants was targeted through our promotional campaign to test whether the...

Persistent link: https://www.econbiz.de/10015171688

Automatic Enrollment with a 12% Default Contribution Rate

Beshears, John; Guo, Ruofei; Laibson, David I.; … - National Bureau of Economic Research - 2023

We study a retirement savings plan with a default contribution rate of 12% of income, which is much higher than previously studied defaults. Twenty-five percent of employees had not opted out of this default 12 months after hire; a literature review finds that the corresponding fraction in plans...

Persistent link: https://www.econbiz.de/10014337834