In 2009, the National Endowment for Financial Education initiated a project to study the “Implications of a Quarter Century Research in Personal Finance.” As part of that effort, one of the major themes chosen was to study the measurement and evaluation of participant outcomes. This paper is...

The ability to predict bank failure has become much more important since the mortgage foreclosure crisis began in 2007. The model proposed in this study uses proxies for the regulatory standards embodied in the so-called CAMELS rating system, as well as several local or national economic...

Changes in the general level of prices and inflation have profound effects on asset prices. There are several reasons for these effects and the influence differs depending on the source of the inflation and whether it is expected or not. To understand these effects, it is important to clarify...

Perhaps the most important report that the Federal Insurance Office (FIO) will ever make is the report on the system of state-based insurance regulation. By the end of January 2012, the FIO Director is to submit a report to Congress recommending changes to modernize and improve insurance...

This paper touches on the potential importance that targeting unbanked consumers may have on financial literacy levels. Adult financial illiteracy is a major problem in the US and elsewhere. Financial fraud and poor performance in managing personal finances go hand in hand. The nation's...

China, a low income country about the same geographic size as the US and with over four times the population, has had persistent rapid growth that averaged 9.6 percent per year since reform began in 1979. On a per capita basis, real GDP is eight times larger than it was 26 years earlier! China's...

The state of Indiana has had a major foreclosure problem, especially since the 2001 recession. As the nation confronts an emerging surge in foreclosures associated with an explosion of subprime loans in 2004-06, the Indiana foreclosure rate is likely to surge to record territory. Two neighboring...

The velocity of money declined sharply in 1982 and early 1983, sparking concern and controversy over the extent of the decline, the source of the decline and implications for the conduct of monetary policy. This paper focuses on why velocity declined and the implications of the recent experience...