This paper uses data from the National Longitudinal Survey to examine the differences in individual financial market participation among native-born and immigrant Americans. The results indicate that when compared with natives, immigrants are less likely to own financial assets. A decomposition...

This study uses a national dataset to examine the association among risk tolerance, financial literacy, and goals-based savings behavior of households. The results indicate that three out of five households do not have any emergency funds set aside, and about half the households have not...