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The Racial Saving Gap Enigma: Unraveling the Role of Institutions

Belton, Willie; Uwaifo Oyelere, Ruth - Institute for the Study of Labor (IZA) - 2008

evidence of the long-lived nature of institutions and the link between institutions and culture. In this paper, we provide an … scaffolding erected many years earlier. Using a novel within race decomposition we provide evidence that past institutions … be attributed solely to racial discrimination but can be explained by the response of culture to institutional …

Persistent link: https://www.econbiz.de/10005761799

Discounting financial literacy: time preferences and participation in financial education programs

Meier, Stephan; Sprenger, Charles D. - 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/10010276778

Culture and Adult Financial Literacy: Evidence from the United States

Davoli, Maddalena; Rodríguez-Planas, Núria - 2020

Using a US nationally representative sample of over 6,000 adults from 26 countries of ancestry, we find a strong association between their financial literacy in the US and the financial literacy level in their self-reported country of ancestry. More specifically, if an individual from a country...

Persistent link: https://www.econbiz.de/10012270027

Under-savers anonymous: Evidence on self-help groups and peer pressure as a savings commitment device

Kast, Felipe; Meier, Stephan; Pomeranz, Dina - 2012

While commitment devices such as defaults and direct deposits from wages have been found to be highly effective to increase savings, they are unavailable to the millions of people worldwide who not have a formal wage bill. Self-help peer groups are an alternative commitment device that is...

Persistent link: https://www.econbiz.de/10010282613

Savings and prize-linked savings accounts

Atalay, Kadir; Bakhtiar, Fayzan; Cheung, Stephen L.; … - 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/10010289923

Does Greater Inequality Lead to More Household Borrowing? New Evidence from Household Data

Coibion, Olivier; Gorodnichenko, Yuriy; Kudlyak, Marianna; … - 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 debt...

Persistent link: https://www.econbiz.de/10010333254

Present-biased preferences and credit card borrowing

Meier, Stephan; Sprenger, Charles D. - 2009

Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to...

Persistent link: https://www.econbiz.de/10010276781

De jure and de facto determinants of power: Evidence from Mississippi

Bertocchi, Graziella; Dimico, Arcangelo - 2012

previously unexploited dataset on voter registration by race covering the counties of Mississippi in 1896, shortly after the … majority represents a threat to the de facto power of white elites. Moreover, the effect of race becomes stronger after 1890 …

Persistent link: https://www.econbiz.de/10010287591

The Financial Support for Long-Term Elderly Care and Household Savings Behaviour

Ohinata, Asako; Picchio, Matteo - 2015

We analyse how the financial support for long-term elderly care affects the level of household savings. Using a difference-in-differences estimator, we investigate the 2002 Scottish reform, which introduced free formal personal care for all the elderly aged 65 and above residing in Scotland. Our...

Persistent link: https://www.econbiz.de/10011307455

Unemployment Risk and Over-Indebtedness: A Micro-Econometric Perspective

Du Caju, Philip; Rycx, Francois; Tojerow, Ilan - 2015

household indebtedness in its most severe form. We also examine the role that each country's legal and economic institutions …

Persistent link: https://www.econbiz.de/10011420752

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