This paper uses proprietary data comprising of 4,155 participants who attended financial education seminars conducted by a major U.S. consumer credit counseling agency in 2007. In this study, knowledge gained from attending the seminars is estimated using a multivariate regression model. Results...

This paper uses the most recent wave of a nationally representative dataset to examine the factors associated with elderly homeowners' decision to obtain reverse mortgage loans. The findings of this study suggest that very few homeowners participated in the reverse mortgage market, and...

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...