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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007
We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...
Persistent link: https://www.econbiz.de/10010986371
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The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data
Lusardi, Annamaria; Mitchell, Olivia S. - 2007
We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...
Persistent link: https://www.econbiz.de/10010298384
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Optimal Financial Knowledge and Wealth Inequality
Lusardi, Annamaria - 2015
is a key determinant of wealth inequality. The mechanism we posit is that financial knowledge enables individuals to … wealth over the life cycle. According to our estimates, from 30 to 40 percent of wealth inequality can be accounted for by …
Persistent link: https://www.econbiz.de/10013025532
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Pension and Social Security Wealth in the Health and Retirement Study
Gustman, Alan L.; Mitchell, Olivia S.; Samwick, Andrew A.; … - 2011
Together, pensions, social security and health insurance account for half of the wealth held by all households in the … Health and Retirement Study (HRS), for 60 percent of total wealth of HRS households who are in the 45th to 55th wealth … percentiles, and even for 48 percent of wealth for those in the 90th and 95th wealth percentiles. The HRS surveys households aged …
Persistent link: https://www.econbiz.de/10014043164
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Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … retirement with much higher wealth levels and display higher financial literacy than non-planners. Instrumental variables … very little or no wealth. …
Persistent link: https://www.econbiz.de/10010958739
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Baby boomer retirement security: The roles of planning, financial literacy, and Housing wealth
Lusardi, Annamaria; Mitchell, Olivia S. - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … retirement with much higher wealth levels and display higher financial literacy than non-planners. Instrumental variables … very little or no wealth. …
Persistent link: https://www.econbiz.de/10010298334
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Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy, and Housing Wealth
Lusardi, Annamaria; Mitchell, Olivia S. - Centre for Research on Pensions and Welfare Policies … - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … retirement with much higher wealth levels and display higher financial literacy than non-planners. Instrumental variables … very little or no wealth. …
Persistent link: https://www.econbiz.de/10005012793
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Baby Boomer Retirement Security: The Roles of Planning, Financial Literacy,and Housing Wealth
Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2006
We compare wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers in 2004, and … retirement with much higher wealth levels and display higher financial literacy than non-planners. Instrumental variables … very little or no wealth. …
Persistent link: https://www.econbiz.de/10005022447
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Baby Boomer Retirement Security : The Roles of Planning, Financial Literacy, and Housing Wealth
Lusardi, Annamaria - 2011
This paper compares wealth holdings across two cohorts of the Health and Retirement Study: the early Baby Boomers …, planners in both cohorts approached retirement with much higher wealth levels and display higher financial literacy than non … retirement with very little or no wealth …
Persistent link: https://www.econbiz.de/10012714553
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Time Discounting and Economic Decision-Making Among the Elderly
Huffman, David - 2020
variables including wealth, the timing of retirement, investments in health, and decisions about end-of-life care …
Persistent link: https://www.econbiz.de/10012854861