In the U.S., a number of states have mandated personal finance classes in public school curricula to address perceived deficiencies in financial decision-making competency. Despite the growth of financial and economic education provided in public schools, little is known about the effect of...

In the U.S., a number of states have mandated personal finance classes in public school curricula to address perceived deficiencies in financial decision-making competency. Despite the growth of financial and economic education provided in public schools, little is known about the effect of...

The increasing availability of mobile banking has the potential to transform the way consumers interact with their financial institutions and expand access to financial services for previously underserved populations. However, given the sensitive nature of the information shared when using...

Reverse mortgages have been obtained by nearly one million senior households. In the future, the number of eligible households will grow substantially, about 80 percent are homeowners, and many of them have substantial equity in their home. We study state-level variations in rate of originations...

Reverse mortgages have been obtained by nearly one million senior households. In the future, the number of eligible households will grow substantially, about 80 percent are homeowners, and many of them have substantial equity in their home. We study state-level variations in rate of originations...

Credit cards are one of the most common forms of credit offered to consumers and one in which information is highly standardized through mandated disclosures. Three experiments examine the effects of affect inductions (mild positive or anxious affect) on the use of credit card disclosure...

This paper presents an empirical study of consumer responses to mandated information disclosures as measured by loan applicants rejecting approved high-cost mortgage loan offers in states with disclosure laws. Using 2005 Home Mortgage Disclosure Act data, this analysis suggests that state laws...

Income tax refunds are often significant lump-sum payments for households in the US. These payments allow households to increase their expenditures, including purchasing larger quantities of goods and stockpiling them for future consumption. Buying larger quantities allows households to reduce...

This study considers an under-explored channel through which credit-constrained house- holds may smooth consumption – buying ahead. We employ a differences-in-differences-in- differences strategy and exploit variation from state tax laws introduced in different states in different years. Using...