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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
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
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
This project examines the impact of employer-provided financial education for newly hired workers on contributions to voluntary retirement savings plans. Using administrative data from five large employers, the researchers assess the impact of information and delivery methods on the choice to More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
The Social Security Statement is sent annually to each individual over age 25. The Statement contains information regarding the Social Security program, the individual's past covered earnings and contributions, and an estimate of the individual's future retirement benefits. Given the complexity of More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012
The authors conducted a field experiment to evaluate the effect of receiving information about the retirement savings decisions of one's peers. Non-participants and low savers in one firm's 401(k) plan received letters enabling them to enroll or increase their plan contribution rate by returning a More information...
Audience: Researcher
Type of Resource: Working paper
Date: 3/27/2012