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For Better and for Worse? Effects of Access to High-Cost Consumer Credit

Dobridge, Christine - 2016

I provide empirical evidence that the effect of high-cost credit access on household material well-being depends on if a household is experiencing temporary financial distress. Using detailed data on household consumption and location, as well as geographic variation in access to high cost...

Persistent link: https://www.econbiz.de/10013210424

The display of information and household investment behavior

Shaton, Maya - 2016

displayed. Israeli retirement funds were prohibited from displaying returns for periods shorter than twelve months. In this … aversion, and have important implications for households' accumulated wealth at retirement …

Persistent link: https://www.econbiz.de/10011709245

Borrowers in search of feedback : evidence from consumer credit markets

Liskovich, Inessa; Shaton, Maya - 2017 - Latest draft: March 31, 2017

We study recent technological innovation in credit markets and document their role in providing information to households. We show that households value the ability to learn detailed information about their cost of credit. This function is most valued by less creditworthy households with less...

Persistent link: https://www.econbiz.de/10011709254

The Credit Card Act and consumer finance company lending

Elliehausen, Gregory E.; Hannon, Simona M. - 2017

The Credit Card Accountability and Disclosure Act (CARD Act) of 2009 restricted several risk management practices of credit card issuers. Using a quasi-experimental design with credit bureau data on consumer lending, we find evidence consistent with the hypothesis that the act's restrictions on...

Persistent link: https://www.econbiz.de/10011710086

The Evolution of Retirement Wealth

Devlin-Foltz, Sebastian - 2015

Is the current mix of tax preferences for employer-sponsored pensions and individual retirement saving in the U ….S. delivering the best possible retirement-preparedness across and within generations? Using data from the triennial Survey of … Consumer Finances for 1989 through 2013, cohort-based analysis of life-cycle trajectories shows that (1) overall retirement …

Persistent link: https://www.econbiz.de/10013027338

Gamblers as Personal Finance Activists

Li, Geng - 2012

Gambling behavior can serve as an informative indicator of important household heterogeneity that is difficult to observe directly in data. We present, to the best of our knowledge, the first comprehensive study of the consumption and personal finance of gamblers using a nationwide...

Persistent link: https://www.econbiz.de/10013106836

Do Homeowners Know Their House Values and Mortgage Terms?

Pence, Karen M. - 2006

To assess whether homeowners know their house values and mortgage terms, we compare the distributions of these variables in the household-reported 2001 Survey of Consumer Finances (SCF) to the distributions in lender-reported data. We also examine the share of SCF respondents who report not...

Persistent link: https://www.econbiz.de/10012733743

How Much are Car Purchases Driven by Home Equity Withdrawal?

McCully, Brett - 2020

Previous research indicates that changes in housing wealth affect consumer spending on cars. We find that home equity extraction plays only a small role in this relationship. Consumers rarely use funds from equity extraction to purchase a car directly, even during the mid-2000s housing boom;...

Persistent link: https://www.econbiz.de/10012855857

Wealth, Pensions, Debt, and Savings : Considerations for a Panel Survey

Bucks, Brian - 2015

Several U.S. panel surveys measure household wealth. At the same time, many important questions about household wealth accumulation remain somewhat unresolved. We consider whether measurement error on the existing suite of longitudinal surveys hinders their usefulness for addressing these...

Persistent link: https://www.econbiz.de/10013023807

Signaling Status : The Impact of Relative Income on Household Consumption and Financial Decisions

Bricker, Jesse - 2014

This paper investigates the importance of status in household consumption and financial decisions using household data from the Survey of Consumer Finances (SCF) linked to neighborhood data in the American Community Survey (ACS). We find evidence that a household's income rank — its position...

Persistent link: https://www.econbiz.de/10013046477

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