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Credit Use of U.S. households After the Great Recession : The Role of Credit Constraints
Kim, Kyoung Tae - 2015
household debt, (1) installment loan debt and (2) credit card debt. Results of a Heckman selection model indicate that …
Persistent link: https://www.econbiz.de/10013010347
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Household debt and saving during the 2007 recession
Chakrabarti, Rajashri; Lee, Donghoon; Klaauw, Wilbert … - 2011
Using credit report records and data collected from several household surveys, we analyze changes in household debt and … appears to reflect a considerable decline in household debt, as households paid down mortgage debt in particular. At the end … to become harder to obtain during 2010. -- household debt and saving ; 2007 recession ; credit access ; mortgage debt …
Persistent link: https://www.econbiz.de/10008935752
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Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations
Hanspal, Tobin - 2020
, desired working hours, and household debt, but have only small effects on expected spending. We provide correlational and … household exposure to stock market crashes for expectation formation …
Persistent link: https://www.econbiz.de/10012835653
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Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations
Hanspal, Tobin - 2020
, desired working hours, and household debt, but have only small effects on expected spending. We provide correlational and … household exposure to stock market crashes for expectation formation …
Persistent link: https://www.econbiz.de/10012836671
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The Impact of the Stock Market Crash of 2008-2009 on the Wealth of U.S. Households
Kim, Kyoung Tae - 2019
1. This research examines the potential impact of the stock market crash of 2008-2009 on U.S. working households. The Great Recession caused financial problems for many households in terms of unemployment, business losses, and decreases in real estate values, but the broadly based decreases in...
Persistent link: https://www.econbiz.de/10012903701
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Selection into financial literacy programs : evidence from a field study
Meier, Stephan (contributor); Sprenger, Charles (contributor) - 2007
As financial literacy has been shown to correlate with good financial decisions, policymakers promote educational programs to improve individuals’ financial decisions. But who selects into educational programs and who acquires information about personal finance? This paper, in a field study...
Persistent link: https://www.econbiz.de/10003713629
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Impatience and credit behavior : evidence from a field experiment
Meier, Stephan (contributor); Sprenger, Charles (contributor) - 2007
This paper tests whether heterogeneity of time preferences can explain individual credit behavior. In a field experiment targeting individuals from low-to-moderate income households, we measure individual time preferences through choice experiments, and then match these time preference measures...
Persistent link: https://www.econbiz.de/10003715716
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Present-biased preferences and credit card borrowing
Meier, Stephan; Sprenger, Charles - 2009
Some individuals borrow extensively on their credit cards. This paper tests whether present-biased time preferences correlate with credit card borrowing. In a field study, we elicit individual time preferences with incentivized choice experiments, and match resulting time preference measures to...
Persistent link: https://www.econbiz.de/10003859319
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Five Steps to Planning Success. Experimental Evidence from U.S. Households
Heinberg, Aileen - 2015
In this paper, we design and field a low-cost, easily-replicable financial education program called “Five Steps,” covering five basic financial planning concepts that relate to retirement. We conduct a field experiment to evaluate the overall impact of “Five Steps” on a probability...
Persistent link: https://www.econbiz.de/10013025526
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Does Financial Sophistication Matter in Retirement Preparedness of U.S. Households? Evidence from the 2010 Survey of Consumer Finances
Kim, Kyoung Tae - 2013
We extend previous studies of retirement adequacy by testing the effect of financial sophistication on projected retirement adequacy. In an analysis of the 2010 Survey of Consumer Finances (SCF) dataset, we found that only 42% of households are adequately prepared for retirement compared to 58%...
Persistent link: https://www.econbiz.de/10013079307