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ABSTRACT: Rapid growth in subprime lending over the past decade has led to rising concerns about abusive practices by subprime lenders. By early 2004, those concerns prompted Georgia and more than 30 other states to pass laws designed to eliminate abusive or predatory lending practices by the More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Abstract: A dramatic rise in subprime foreclosures over the past several years has led to calls for restrictions of, or prohibitions against, a range of lending practices loosely termed “predatory.” Several cities and states have enacted legislation or regulations aimed at eliminating predatory More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Abstract: American women tend to be less financially literate than men, which is consistent with a household division of labor in which men manage finances. However, women also tend to outlive their husbands, so they will eventually need to take over this task. Using a new survey of older couples, More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Abstract: We study the trend in household income uncertainty using a novel approach that measures income uncertainty as the variance of forecast errors at each future horizon separately without imposing parametric restrictions on the underlying income shocks. We find that household income More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
In her book, Reinsuring Health: Why More Middle-Class People Are Uninsured and What Government Can Do, Katherine Swartz, Professor of Health Economics and Policy at the Harvard School of Public Health, finds that the lack of health insurance is a growing problem for young adults, moderate income More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Managing retirement risk has become extraordinarily difficult in this era of financial turmoil, global interlinkages, and global population aging. It is particularly fraught since consumers must now engage in long-term contracts with themselves, employers, financial institutions, and governments, More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
We examined financial literacy among the young using the most recent wave of the 1997 National Longitudinal Survey of Youth. We showed that financial literacy is low; fewer than one-third of young adults possess basic knowledge of interest rates, inflation, and risk diversification. Financial More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Individuals are increasingly in charge of their own financial security after retirement. But how well-equipped are individuals to make saving decisions; do they possess adequate financial literacy, are they informed about the most important components of saving plans, do they even plan for More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Household financial planning can be challenging and household members often lack basic financial literacy skills. This paper discusses the potential and pitfalls of one approach to solving these problems—the development and dissemination of financial guidelines simple enough to be explained in More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012