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-based inflation expectations measures increase. Changes in household survey expectations or in measures of inflation uncertainty do …
Persistent link: https://www.econbiz.de/10013462740
This paper documents the share of investable wealth that middle-class U.S. investors hold in the stock market over their working lives. This share rises modestly early in life and falls significantly as people approach retirement. Prior to 2000, the average investor held less of their investable...
Persistent link: https://www.econbiz.de/10013172180
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/10012458463
The failure of the Freedman's Savings Bank (FSB), one of the only Black-serving banks in the early post-bellum South, was an economic catastrophe and one of the great episodes of racial exploitation in post-Emancipation history. It was also most Black Americans' first experience of banking. Can...
Persistent link: https://www.econbiz.de/10014576605
Using a survey with information treatments conducted in the aftermath of SVB's collapse, we study households' perspectives on bank stability, the potential for panic-driven bank runs, and the role of public communication. When informed about SVB's collapse, households become more likely to...
Persistent link: https://www.econbiz.de/10014337876
We provide a first look into the drivers of household cryptocurrency investing. Analyzing consumer transaction data for … investors. High past crypto returns and personal income shocks lead to increased cryptocurrency investments. Higher household …
Persistent link: https://www.econbiz.de/10014436987
We study the role of war bonds and inflation in the presidential elections of the 1950s. During World War II, the federal government conducted aggressive campaigns to convince Americans to invest their savings in wartime savings bonds. Although the bonds were nonnegotiable and protected from...
Persistent link: https://www.econbiz.de/10014447290
We use novel monthly security-level data on U.S. household portfolio holdings, flows, and returns to analyze asset … wealth groups partly offset each other, the aggregate household sector plays a limited role to absorb financial fluctuations …. To understand the contrasting trading behavior across households, we show that a household's flows to U.S. equities are …
Persistent link: https://www.econbiz.de/10014447322
We examine abnormal stock returns surrounding contemporaneous earnings and dividend announcements in order to determine … interaction effect.The abnormal return corresponding to any earnings or dividend announcement depends upon the value of the other … more credence to unanticipated dividend increases or decreases when earnings are also above or below expectations, and vice …
Persistent link: https://www.econbiz.de/10012477849
This paper investigates the effects of capital gains and dividend taxes on excess returns around announcements of … dividend increases and ex-dividend days for U.S. corporations. Consistent with standard no-arbitrage conditions, we find that … the ex-dividend day premium increased from 2002 to 2004 when the dividend tax rate was cut. Consistent with the signalling …
Persistent link: https://www.econbiz.de/10012467227