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This report describes several linked empirical studies that examine the activities of public libraries in increasing the financial literacy of their service population. It describes a qualitative field study of librarians’ perceptions of the challenges in offering financial literacy-based More information...
Audience: Researcher
Type of Resource: Working paper
Date: 7/17/2014
In 1995, the Social Security Administration started sending out the annual Social Security Statement. It contains information about the worker’s estimated benefits at the ages 62, 65, and 70. I use this unique natural experiment to analyze the retirement and claiming decision-making. First, I find More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Economic studies on households’ financial asset ownership and allocation have discussed the relationship between asset holdings and socioeconomic variables. The current research on asset ownership has been conducted with data from the country of China utilizing a random sample of 2080 Chinese More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/28/2012
The Community Development Department of the Federal Reserve Bank of San Francisco (FRBSF) commissioned this study to explore the feasibility of passing a financial education mandate in California. Specifically, we sought to understand the key barriers related to passing a mandate in California and More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Household debt repayment behavior has been understudied, especially empirically, despite the heightened debate on rising household debt, personal bankruptcy filings, and arrears. In this paper, we use data from the European Community Household Panel to analyze the determinants of household debt More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
This paper evaluates the presence of racial disparities in the issuance of Consumer Credit. Using a unique and proprietary database of credit histories from a major credit bureau, this paper links location-based information on race with individual credit files. After controlling for the influence More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
This paper provides the first rigorous assessment of the homeownership experiences of subprime borrowers. We consider homeowners who used subprime mortgages to buy their homes, and estimate how often these borrowers end up in foreclosure. In order to evaluate these issues, we analyze homeownership More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Many policymakers and economists argue that financial literacy is key to financial well‐being. But why do many individuals remain financially illiterate despite the apparent importance of being financially informed? This paper presents results of a field study linking individual decisions to More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
Abstract: The U.S. household carries over $7,500 in uncollateralized debt and likely saves at a negative rate. There is a growing body of evidence that this borrowing and saving behavior may not, as assumed by standard economics, be the product of rational financial planning. This paper discusses More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
We examine the effects of collateralized borrowing in a realistically parameterized life-cycle portfolio choice problem. We provide basic intuition in a two-period model and then solve a multi-period model computationally. Our analysis provides insights into life-cycle portfolio choice relevant for More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012