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Supporting Seniors : How Low-Income Elderly Individuals Respond to a Retirement Support Program
Agarwal, Sumit - 2020
Longer life expectancy and insufficient savings expose individuals to financial vulnerability in older ages and prompt …
Persistent link: https://www.econbiz.de/10012832884
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Age of Decision : Pension Savings Withdrawal and Consumption and Debt Response
Agarwal, Sumit - 2018
percent of their pension savings at age 55. We find a large and highly significant increase in individuals' bank account … interest rates in their retirement accounts by leaving a sizeable portion of their withdrawn savings in a low-interest accruing …
Persistent link: https://www.econbiz.de/10012937807
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The Composition Effect of Consumption around Retirement : Evidence from Singapore
Agarwal, Sumit - 2014
It is well established that consumption is “hump” shaped over an individual's lifecycle, peaking in middle age and then declining in the years that follow. Prior research has documented that consumption declines at retirement, which is inconsistent with the standard lifecycle model with...
Persistent link: https://www.econbiz.de/10013044705
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Consumption and Saving Response to a Tax-Subsidized Saving Policy : Evidence from India
Agarwal, Sumit - 2018
To incentivize households to increase private savings, the Indian government implemented in July 2014 a new tax … the income tax exemption limit on long-term savings, private saving increases by $0.23 for the treatment group. Relative … to annual income, private savings for the treatment group increase by about 1.87% on average …
Persistent link: https://www.econbiz.de/10012933146
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Rushing into American dream? House prices, timing of homeownership, and adjustment of consumer credit
Agarwal, Sumit; Hu, Luojia; Huang, Xing - 2013
In this paper we use a large panel of individuals from Consumer Credit Panel dataset to study the timing of homeownership as a function of credit constraints and expectations of future house price. Our panel data allows us to track individuals over time and we model the transition probability of...
Persistent link: https://www.econbiz.de/10010352190
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Joint Liability Lending and Credit Risk : Evidence from the Home Equity Market
Agarwal, Sumit - 2010
Using a unique dataset of home equity credit contracts, we examine the benefits of joint liability lending. Our results show that the risk of default for joint borrowers with similar risk scores is significantly lower than the risk associated with single borrowers. However, when joint borrowers...
Persistent link: https://www.econbiz.de/10013139761
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Timing to the Statement : Understanding Fluctuations in Consumer Credit Use
Agarwal, Sumit - 2013
We show that consumers spend 15% more per day on their credit cards in the ten days following the receipt of a credit card statement than in the days prior to the statement. We test several mechanisms for this effect including mental accounting, optimization of the free float, and liquidity...
Persistent link: https://www.econbiz.de/10013089450
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Consumption and Debt Response to Unanticipated Income Shocks : Evidence from a Natural Experiment in Singapore
Agarwal, Sumit - 2014
This paper uses a unique panel dataset of consumer financial transactions to study how consumers respond to an exogenous unanticipated income shock. Consumption rose significantly after the fiscal policy announcement: during the ten subsequent months, for each dollar received, consumers on...
Persistent link: https://www.econbiz.de/10013064215
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Consumption and Portfolio Rebalancing Response of Households to Monetary Policy : Evidence of the HANK Channel
Agarwal, Sumit - 2020
This paper tests one specific monetary transmission mechanism through households: portfolio rebalancing. We use a unique panel dataset of household's credit and debit card spending, ATM withdrawals, financial investments into risky assets such as mutual funds and equities, as well as bank...
Persistent link: https://www.econbiz.de/10012835832
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The Real Impact of FinTech : Evidence from Mobile Payment Technology
Agarwal, Sumit - 2020
We utilize the introduction of a mobile payment technology by the largest bank in Singapore in 2017 to study how mobile payment technology reshapes economic activities and stimulates business creation. After the introduction, business-to-consumer industries witnessed a higher growth rate of...
Persistent link: https://www.econbiz.de/10012839256