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Adopting, using, and discarding paper and electronic payment instruments: Variation by age and race
Mann, Ronald J. - 2011
significant age- and race-related differences in payments choices. Among other things, it suggests that the range of payment … access to financial institutions. With regard to age, it documents pervasive (and complex) age-related patterns at every step …
Persistent link: https://www.econbiz.de/10010282787
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Increasing the effectiveness of financial education in the workplace
Lusardi, Annamaria - 2008
Persistent link: https://www.econbiz.de/10010298401
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Financial literacy: An essential tool for informed consumer choice?
Lusardi, Annamaria - 2008
Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy...
Persistent link: https://www.econbiz.de/10010298402
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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
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Household debt and saving during the 2007 recession
Chakrabarti, Rajashri; Lee, Donghoon; van der Klaauw, … - 2011
Using credit report records and data collected from several household surveys, we analyze changes in household debt and saving during the 2007 recession. We find that, while different segments of the population were affected in distinct ways, depending on whether they owned a home, whether they...
Persistent link: https://www.econbiz.de/10010287080
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Mortgage prepayment, race, and monetary policy
Gerardi, Kristopher; Willen, Paul; Zhang, David Hao - 2021
During the period 2005 to 2020, Black borrowers with mortgages insured by Fannie Mae or Freddie Mac paid interest rates that were almost 50 basis points higher than those paid by nonHispanic white borrowers. We show that the main reason is that non-Hispanic white borrowers are much more likely...
Persistent link: https://www.econbiz.de/10012653488
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Are Americans and Indians more altruistic than the Japanese and Chinese? Evidence from a new international survey of bequest plans
Horioka, Charles Yuj - 2014
This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...
Persistent link: https://www.econbiz.de/10011421495
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Are Japanese households financially healthy, and if so, why? A Group of Seven (G7) comparison
Horioka, Charles Yuji - 2012
greater financial health of Japanese households is due more to culture or to government policies, institutions, and other non … explained much better by non-cultural factors than by culture. …
Persistent link: https://www.econbiz.de/10010332271
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Are the Japanese unique? Evidence from household saving and bequest behavior
Horioka, Charles Yuji - 2016
by culture and social norms by examining their saving and bequest behavior. To summarize our main findings, we find that … the Japanese are not a saving-loving people and that their saving behavior is not governed by culture and social norms …, we argue that these findings do not necessarily mean that culture and social norms do not matter. …
Persistent link: https://www.econbiz.de/10011564954
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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