Multinomial logistic regression was employed to identify the determinants underlying the respondents' frequency of savings-weekly, monthly and seasonally. The results of the study showed that amount saved per period, number of years of education and engagement in non-farm income generating...

Purpose - Trade relations between China and the USA have been marked by conflict, especially since China's membership in the World Trade Organization (WTO). These conflicts have been analyzed from a variety of perspectives, including the loss of jobs in the USA due to Chinese imports,...

Developing Asia has grown faster than other parts of the world for decades. However, population aging is expected to pose significant headwinds to the region’s future economic growth. We update and enhance the analysis of Park and Shin (2012) to project the impact of population aging on...

This study proposes a structured product (SP) for hedging defined contribution pension fund members against capital market risk. Using Monte Carlo simulations on three different guaranteed returns to test the investment strategy of the SP against a balanced investment portfolio, we measure their...

This paper uses an estimated Heterogeneous Agent New Keynesian (HANK) model to evaluate the quantitative importance of two channels in driving aggre- gate consumption fluctuations in the US: (i) precautionary savings against un- employment risk and (ii) MPC heterogeneity. I find that MPC...

Especially for developing countries like Ethiopia, saving is more significant to build capital required to generate income, smooth domestic cash requirements, and allow the ease of consumption during scarcity. However, rural saving at the household level was not substantially investigated in...

Few retirees use reverse mortgages. In this paper, we investigate how financial literacy and prior knowledge of the product influence take-up by conducting a stated-preference experiment. We exogenously manipulate characteristics of reverse mortgages to tease out how consumers value them and...

While there have been numerous studies illustrating the rather low level of financial knowledge of Americans, there have been only a few efforts to examine the effectiveness of employer-provided programs in enhancing financial literacy and the ability of these programs to modify worker...

This paper examines financial literacy in the United States, using the 2021 National Financial Capability Study data. A large volume of papers have demonstrated the importance of financial knowledge and documented the low level of financial literacy in America. Using recent data collected during...

In this paper, we examine financial literacy in Singapore. Using data from the SKBI-GFLEC Sustainable Investment Survey, we find that approximately 40% of Singaporeans are financially literate. We also find that financial literacy is low among specific groups such as women, the less educated,...