We analyze the saving motives of European households using micro-data from the Household Finance and Consumption Survey (HFCS), which is conducted by the European Central Bank. We find that the rank ordering of saving motives differs greatly depending on what criterion is used to rank them. For...

This study used data from the 2015 National Financial Capability Study to analyze the adoption of mobile payments by U.S. households. While 24% of respondents used mobile payments, the mean rate for those under age 25 was 11 times the rate for those 65 and older. State rates ranged from about 9%...

Genetic factors play a major role in the development of Alzheimer's disease and related dementias (ADRD). Observable genetic factors could impact household planning and medical care if they contain actionable information, meaning that they i) are associated with significant harms, ii) reflect...

Household real disposable income and real pensions decelerated by 6.1% and 2.5% in December 2016 in comparison with the same period of 2015 (Fig. 1). In contrast, real wage went up by 2.4% in December 2016 compared to the same period of the previous year

Financial literacy is the knowledge and skills required to manage one's financial resources effectively. Financial literacy is more important than ever in today’s fast-paced world, especially for the younger generation. The younger generation in India is a crucial demographic group that is...

As approximately 70 million Baby Boomers make their way into and through retirement, increased attention is being given to how they approach retirement spending as well as what constitutes a satisfactory lifestyle in retirement. One thing is clear: There is little homogeneity when it comes to...

In this paper, we study the changes in needs and purchases post-retirement using a unique survey of elderly Australians. Six categories of goods and services are studied, and the research objectives are threefold. First, we study the factors related to changes in needs and purchases in...

We document systematic and significant time variation in US lifecycle non-durable consumption profiles. Consumption profiles have consistently become flatter: differences in consumption across generations have decreased. Pooling data across different periods to identify lifecycle profiles masks...

The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...

We analytically show that a common across rich/poor individuals Stone-Geary utility function with subsistence consumption in the context of a simple two-asset portfolio-choice model is capable of qualitatively and quantitatively explaining: (i) the higher saving rates of the rich, (ii) the...