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Heutel, Garth; Ruhm, Christopher; Bradford, David; … - National Bureau of Economic Research (NBER) - 2014

experiments using multiple price lists and real payments predicts various health, energy, and financial outcomes, including … overall self-reported health, smoking, drinking, car fuel efficiency, and credit card balance. We allow for time … alternate measures shows that our estimated associations between the time-consistent discount factor and health, energy, and …

Persistent link: https://www.econbiz.de/10010969216

Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice

Van Nieuwerburgh, Stijn; Yogo, Motohiro; Koijen, Ralph - National Bureau of Economic Research (NBER) - 2011

We develop a pair of risk measures, health and mortality delta, for the universe of life and health insurance products …. A life-cycle model of insurance choice simplifies to replicating the optimal health and mortality delta through a … portfolio of insurance products. We estimate the model to explain the observed variation in health and mortality delta implied …

Persistent link: https://www.econbiz.de/10009251490

Household Debt: Facts, Puzzles, Theories, and Policies

Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2014

Borrowing decisions affect most households, with large stakes and implications for subfields as varied as macroeconomics and industrial organization. I review theoretical and empirical work on household debt: its prevalence, level, growth, and composition, as well as various measures of consumer...

Persistent link: https://www.econbiz.de/10010951247

The Effect of Providing Peer Information on Retirement Savings Decisions

Laibson, David; Madrian, Brigitte C.; Beshears, John; … - National Bureau of Economic Research (NBER) - 2011

We conducted a field experiment in a 401(k) plan to measure the effect of disseminating information about peer behavior on savings. Low-saving employees received simplified plan enrollment or contribution increase forms. A randomized subset of forms stated the fraction of age-matched coworkers...

Persistent link: https://www.econbiz.de/10009277262

Who Uses the Roth 401(k), and How Do They Use It?

Laibson, David; Madrian, Brigitte C.; Beshears, John; … - National Bureau of Economic Research (NBER) - 2013

Using administrative data from twelve companies that added a Roth 401(k) option between 2006 and 2010, we describe the characteristics of Roth contributions. Approximately one year after the Roth is introduced, 9% of 401(k) participants have positive Roth balances. Roth participation is more...

Persistent link: https://www.econbiz.de/10010969318

Optimal Life Cycle Portfolio Choice with Variable Annuities Offering Liquidity and Investment Downside Protection

Mitchell, Olivia; Horneff, Vanya; Maurer, Raimond; … - National Bureau of Economic Research (NBER) - 2013

We evaluate lifecycle consumption and portfolio allocation patterns resulting from access to Guaranteed Minimum Withdrawal Benefit (GMWB) variable annuities, one of the most rapidly-growing financial innovations over the last two decades. A key feature of these products is that they offer access...

Persistent link: https://www.econbiz.de/10010950840

Financial Education, Financial Competence, and Consumer Welfare

Bernheim, B. Douglas; Ambuehl, Sandro; Lusardi, Annamaria - National Bureau of Economic Research (NBER) - 2014

We introduce the concept of financial competence, a measure of the extent to which individuals' financial choices align with those they would make if they properly understood their opportunity sets. Unlike existing measures of the quality of financial decision making, the concept is firmly...

Persistent link: https://www.econbiz.de/10010950879

Financial Literacy and Retirement Planning in Canada

Michaud, Pierre-Carl; Boisclair, David; Lusardi, Annamaria - National Bureau of Economic Research (NBER) - 2014

Financial literacy and Canadians' capacity to plan for retirement is of primary importance for the policy debate over pension system reform in Canada. In this paper, we draw on internationally comparable survey evidence on financial literacy and retirement planning in Canada to investigate how...

Persistent link: https://www.econbiz.de/10010951028

Five Steps to Planning Success. Experimental Evidence from U.S. Households

Heinberg, Aileen; Hung, Angela A.; Kapteyn, Arie; … - National Bureau of Economic Research (NBER) - 2014

While financial knowledge has been linked to improved financial behavior, there is little consensus on the value of financial education, in part because rigorous evaluation of various programs has yielded mixed results. However, given the heterogeneity of financial education programs in the...

Persistent link: https://www.econbiz.de/10010951168

Are Americans and Indians More Altruistic than the Japanese and Chinese? Evidence from a New International Survey of Bequest Plans

Horioka, Charles Yuji - National Bureau of Economic Research (NBER) - 2014

This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...

Persistent link: https://www.econbiz.de/10010951187

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