American families lost close to $20 trillion in the early stages of the crisis of 2007-2009. Wealth remained well below its peak levels, even after the recovery had taken hold. Public policy can help families rebuild their wealth more quickly. Quicker and larger wealth gains will provide...

Building wealth requires saving, borrowing, and investing. These decisions may depend on stress due to the lack of financial security (low financial assets). Stress should influence personal responses – emotional, behavioral, and cognitive – that in turn could determine financial decisions....

The economic recovery after the Great Recession highlighted a continuous divergence between soaring profits and lagging investment. These trends are related at the corporate level, where corporate managers have stronger incentives to pursue short-term profit-seeking activities than to invest in...

Since the early 1990s, credit expanded relative to income, especially after 2001. It is hypothesized that traditionally uneven credit access and gaps in the costs of credit by demographic characteristics shrank during this period. Relying on data from the Federal Reserve's Survey of Consumer...

Proposals exist to change public employees' retirement benefits from defined benefit (DB) pensions. This could increase employee turnover and raise initial compensation. More experienced employees are replaced with less experienced ones, reducing effectiveness. But, new hires' effectiveness...