Master Thesis Topics HWS Chair of Finance and Banking PD Dr. Maximilian Wimmer
|
|
- Jodie Glenn
- 6 years ago
- Views:
Transcription
1 Master Thesis Topics HWS 2017 Chair of Finance and Banking PD Dr. Maximilian Wimmer
2 Topic W1 Topic W1: What s driving retirement intentions? Topic description Ø Malmendier and Nagel (2011) show that individual experiences of macroeconomic shocks affect financial risk taking. They find that individuals who have experienced low stock market returns throughout their lives so far report lower willingness to take financial risk, are less likely to participate in the stock market, invest a lower fraction of their liquid assets in stocks if they participate, and are more pessimistic about future stock returns Ø The share of private sector employees who participated in defined benefit plans declined from 38% in 1980 to 20% in 2008, while the share participating in defined contribution plans rose from 8% to 31% over the same time span (Butrica et al. 2009). Ø This leads to an increase in equity exposure among households and shifts the risk of poor investment experience from employers to employees. Ø Therefore declining stock markets could also cause changes in retirement intentions, due to declines in financial assets Ø Using panel data from the Health and Retirement Study (1992 to 2014) should investigate the relationship between stock market performance and retirement intentions (Similar to Goda, Shloven, and Slavov (2012)) 2
3 Topic W1 Topic W1: What s driving retirement intentions? Topic description Ø Natural questions to ask are: Ø Questions: Ø Correlation between stock returns and retirement intentions Ø Unanticipated changes in wealth could change intentions regarding labor supply and retirement behavior (i.e. a delay vs. early retirement) Ø What s the role of house (real asset) prices / enterprises Ø Drivers of potential relationships (wealth shocks, employment shocks, optimisim / pessimism) 3
4 Topic W1: What s driving retirement intentions? Student s Task Ø In the master thesis, the student could use the Health and Retirement Study to answer the questions outlined above. Ø The HRS contains detailed information about individuals wealth, income, and demographic characteristics, measures of retirement intentions (the probability of working after age 62, the probability of working after age 65, and the expected retirement age), as well as cognitive ability and health indicators. Ø Student s task is to first summarize the literature on retirement intentions with a focus on the role of financial markets, and, derive hypotheses with regard to the above mentioned questions and run the necessary analysis using the survey data. Ø Programming skills or experience with statistics software like STATA would be very helpful. Ø RAND HRS Data Files: Ø Survey of Consumer Finances: Data 4
5 Topic W1: What s driving retirement intentions? Introductory literature Butrica, Iams, Smith, and Toder The Disappearing Defined Benefit Pension and Its Potential Impact on the Retirement Incomes of Baby Boomers. Social Security Bulletin 69(3): Christelis, Georgarakos, and Haliassos (2013), Differences In Portfolios Across Countries: Economic Environment Versus Household Characteristics, The Review of Economics and Statistics, March 2013, 95(1): Goda, Shloven, and Slavov (2011), What Explains Changes in Retirement Plans during the Great Recession? American Economic Review: Papers & Proceedings 2011, 101:3, Goda, Shloven, and Slavov (2012) Does stock market performance influence retirement intentions?, NBER working paper. Malmendier and Nagel (2011) Depression babies: do macroeconomic experiences affect risk taking? The Quarterly Journal of Economics (2011) 126,
6 Topic W2: Retirement intentions - Differences across countries Topic description Ø Christelis, Georgarakos, and Haliassos (2013) use cross-country microdata and counterfactual methods to document international differences in ownership and holdings of stocks, private businesses, homes, and mortgages among older households in thirteen countries. Ø Malmendier and Nagel (2011) show that individual experiences of macroeconomic shocks affect financial risk taking. They find that individuals who have experienced low stock market returns throughout their lives so far report lower willingness to take financial risk, are less likely to participate in the stock market, invest a lower fraction of their liquid assets in stocks if they participate, and are more pessimistic about future stock returns Ø THE SHARE and HRS datasets consist of households aged 50 and above. Therefore, theses data sets provide an ideal opportunity to examine the impact of different pension systems on international differences in asset holdings Ø For example, larger investments in stocks or in homes in one country relative to another may be reflecting generally lower levels of pension wealth in that country. Ø Using panel data from the Health and Retirement Study (1992 to 2014) this master thesis should investigate the impact of differing pension systems and economic strength on portfolio compositions and retirement intentions across countries 6
7 Topic W2: Retirement intentions - Differences across countries Topic description Ø Natural questions to ask are: Ø Questions: Ø Differences in pension systems on retirement decisions and portfolio compositions Ø Influence of pension levels on retirement decisions and portfolio compositions Ø Influence of economic strength, levels and changes in GDP on retirement intentions Ø Drivers of potential relationships (optimisim / pessimism, financial literacy, trust, cognitive ability) 7
8 Topic W2: Retirement intentions - Differences across countries Student s Task Ø In the master thesis, the student could use survey datasets like the HRS or SHARE to answer the questions outlined above. Ø These surveys contain very detailed information on a household's financial and socio-economic situation, financial literacy, and cognitive abilities Ø Student s task is to first summarize the literature on cross-country differences and the influence of pension systems and assets with regard to the above mentioned questions and run the necessary analysis using the survey data. Ø Programming skills or experience with statistics software like STATA would be very helpful. Data Ø Eleven European countries, the Survey of Health, Ageing and Retirement in Europe (SHARE); Ø United States, the Health and Retirement Study (HRS); 8
9 Topic W2: Retirement intentions - Differences across countries Introductory literature Christelis, Georgarakos, and Haliassos (2013), Differences In Portfolios Across Countries: Economic Environment Versus Household Characteristics, The Review of Economics and Statistics, March 2013, 95(1): Also take a look at the Internet Appendix of this paper! Goda, Shloven, and Slavov (2011), What Explains Changes in Retirement Plans during the Great Recession? American Economic Review: Papers & Proceedings 2011, 101:3, Malmendier and Nagel (2011) Depression babies: do macroeconomic experiences affect risk taking? The Quarterly Journal of Economics (2011) 126, Chater, Huck, and Inderst (2010) Consumer Decision-Making in Retail Investment Services A Behavioural Economics Perspective Changwony, Campbell, and Tabner (2015 RoF) Social Engagement and Stock Market Partcipation Balloch, Nicolae and Philip (2015) Stock Market Literacy, Trust, and Participation Review of Finance (2015) 19: pp
10 Thanks for your attention! Questions?
What Explains Changes in Retirement Plans during the Great Recession?
What Explains Changes in Retirement Plans during the Great Recession? By Gopi Shah Goda and John B. Shoven and Sita Nataraj Slavov The economic recession which began in December 2007 resulted in a sharp
More informationFIN 720 Seminar in Banking and Behavioral Finance
FIN 720 Seminar in Banking and Behavioral Finance Fall 2018: Bubbles Maximilian Germann / PD Dr. Maximilian Wimmer University of Mannheim Administrative Issues Contact Details Maximilian Wimmer wimmer@uni-mannheim.de
More informationMacroeconomic Experiences and Risk-Taking of Euro Area Households
Macroeconomic Experiences and Risk-Taking of Euro Area Households Miguel Ampudia (ECB) and Michael Ehrmann (Bank of Canada) Frankfurt, October 18th, 2013 The views expressed here are our own and not necessarily
More informationRisk-taking across generations
Risk-taking across generations Investor Insights June 2018 Thomas J. De Luca and Jean A. Young The typical millennial household takes substantial equity risk. However, one notable group, at least a quarter
More informationCFCM CFCM CENTRE FOR FINANCE AND CREDIT MARKETS. Working Paper 12/01. Financial Literacy and Consumer Credit Use. Richard Disney and John Gathergood
CFCM CFCM CENTRE FOR FINANCE AND CREDIT MARKETS Working Paper 12/01 Financial Literacy and Consumer Credit Use Richard Disney and John Gathergood Produced By: Centre for Finance and Credit Markets School
More informationDepression Babies: Do Macroeconomic Experiences Affect Risk-Taking?
Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking? October 19, 2009 Ulrike Malmendier, UC Berkeley (joint work with Stefan Nagel, Stanford) 1 The Tale of Depression Babies I don t know
More informationThe Financial Literacy Initiative. Annamaria Lusardi (Dartmouth College andnber)
1 The Financial Literacy Initiative Annamaria Lusardi (Dartmouth College andnber) Research to Date My research to date has focused on financial literacy and financial education programs. Over the last
More informationExploring differences in financial literacy across countries: the role of individual characteristics, experience, and institutions
Exploring differences in financial literacy across countries: the role of individual characteristics, experience, and institutions Andrej Cupák Pirmin Fessler Maria Silgoner Elisabeth Ulbrich July 26,
More informationUsing Consequence Messaging to Improve Understanding of Social Security
Using Consequence Messaging to Improve Understanding of Social Security Anya Samek and Arie Kapteyn Center for Economic and Social Research University of Southern California 20 th Annual Joint Meeting
More informationChair of Corporate Governance. Seminar FSS2017 Asset management Prof. Dr. Alexandra Niessen-Ruenzi, Zorka Simon and Fabian Brunner
Chair of Corporate Governance Seminar FSS2017 Asset management Prof. Dr. Alexandra Niessen-Ruenzi, Zorka Simon and Fabian Brunner Organization All necessary information (including topic descriptions) can
More informationRIETI-JSTAR Symposium. Japan s Future as a Super Aging Society: International comparison of JSTAR datasets. Handout.
RIETI-JSTAR Symposium Japan s Future as a Super Aging Society: International comparison of JSTAR datasets Handout Robin LUMSDAINE Professor, American University December 12, 2014 Research Institute of
More informationRetirement Behavior and the Global Financial Crisis
Retirement Behavior and the Global Financial Crisis Jason J. Fichtner, John W.R. Phillips, and Barbara A. Smith September 2011 PRC WP2011-10 Pension Research Council Working Paper Pension Research Council
More informationDIMITRIS CHRISTELIS Curriculum Vitae January 2017
DIMITRIS CHRISTELIS Curriculum Vitae January 2017 CONTACT INFORMATION Centre for Studies in Economics and Finance (CSEF) Department of Economics and Statistics University of Naples Federico II Via Cintia,
More informationFinancial Literacy and Household Wealth
Financial Literacy and Household Wealth Bachelor thesis Finance Lieke Jessen Anr 685759 Bedrijfseconomie Supervisor: Drh. A. Borgers Coordinator: Dhr. J. Grazell Word Count 6631 1 Introduction The current
More informationRetirement Behavior and the Global Financial Crisis
Retirement Behavior and the Global Financial Crisis Jason J. Fichtner & John W.R. Phillips The Pension Research Council May 5 & 6, 2011 Jason, J. Fichtner is a Senior Research Fellow at the Mercatus Center
More informationFinancial Literacy and Subjective Expectations Questions: A Validation Exercise
Financial Literacy and Subjective Expectations Questions: A Validation Exercise Monica Paiella University of Naples Parthenope Dept. of Business and Economic Studies (Room 314) Via General Parisi 13, 80133
More informationFinancial Literacy and Savings Account Returns *
Financial Literacy and Savings Account Returns * FLORIAN DEUFLHARD, DIMITRIS GEORGARAKOS AND ROMAN INDERST JANUARY 2014 Abstract Savings accounts are owned by most households, but little is known about
More informationPersonality Traits and Economic Preparation for Retirement
Personality Traits and Economic Preparation for Retirement Michael D. Hurd Susann Rohwedder RAND Angela Lee Duckworth University of Pennsylvania and David R. Weir University of Michigan 14 th Annual Joint
More informationEvaluating Lump Sum Incentives for Delayed Social Security Claiming*
Evaluating Lump Sum Incentives for Delayed Social Security Claiming* Olivia S. Mitchell and Raimond Maurer October 2017 PRC WP2017 Pension Research Council Working Paper Pension Research Council The Wharton
More informationThe Changing Face of Debt and Financial Fragility at Older Ages
American Economic Association Papers and Proceedings Vol. 108 May 2018 The Changing Face of Debt and Financial Fragility at Older Ages By ANNAMARIA LUSARDI, OLIVIA S. MITCHELL AND NOEMI OGGERO* * Lusardi:
More informationNBER WORKING PAPER SERIES DOES STOCK MARKET PERFORMANCE INFLUENCE RETIREMENT INTENTIONS? Gopi Shah Goda John B. Shoven Sita Nataraj Slavov
NBER WORKING PAPER SERIES DOES STOCK MARKET PERFORMANCE INFLUENCE RETIREMENT INTENTIONS? Gopi Shah Goda John B. Shoven Sita Nataraj Slavov Working Paper 16211 http://www.nber.org/papers/w16211 NATIONAL
More informationMinimum Wage as a Poverty Reducing Measure
Illinois State University ISU ReD: Research and edata Master's Theses - Economics Economics 5-2007 Minimum Wage as a Poverty Reducing Measure Kevin Souza Illinois State University Follow this and additional
More informationRetirement Patterns of the Early and Middle Baby Boomers
Retirement Patterns of the Early and Middle Baby Boomers Kevin E. Cahill ECONorthwest and The Center on Aging & Work at Boston College Michael D. Giandrea U.S. Bureau of Labor Statistics Joseph F. Quinn
More informationMACROECONOMICS. The Science of Macroeconomics. N. Gregory Mankiw. PowerPoint Slides by Ron Cronovich. Modified for EC 204 by Bob Murphy
1 MACROECONOMICS N. Gregory Mankiw Modified for EC 204 by Bob Murphy PowerPoint Slides by Ron Cronovich 2013 Worth Publishers, all rights reserved IN THIS CHAPTER, YOU WILL LEARN:! about the issues macroeconomists
More informationFINANCIAL LITERACY AND VULNERABILITY: LESSONS FROM ACTUAL INVESTMENT DECISIONS. Research Challenge Technical Report
FINANCIAL LITERACY AND VULNERABILITY: LESSONS FROM ACTUAL INVESTMENT DECISIONS Research Challenge Technical Report Milo Bianchi Toulouse School of Economics 0 FINANCIAL LITERACY AND VULNERABILITY: LESSONS
More informationUnit 6: Budgeting OBJECTIVES LESSON MATERIALS LESSON PLAN
OBJECTIVES Unit 6: Budgeting Students will set up and solve budget-related math problems. Students will apply a variety of math strategies to real-world situations related to budgeting. Students will use
More informationChapter 7 Introduction to Economic Growth and Instability
Chapter 7 Introduction to Economic Growth and Instability Chapter Overview This chapter previews economic growth, the business cycle, unemployment, and inflation. It sets the stage for the analytical presentation
More informationExploring differences in financial literacy across countries: the role of individual characteristics, experience, and institutions
Exploring differences in financial literacy across countries: the role of individual characteristics, experience, and institutions Andrej Cupák National Bank of Slovakia Pirmin Fessler Oesterreichische
More informationThe Role of Fertility in Business Cycle Volatility
The Role of Fertility in Business Cycle Volatility Sarada Duke University Oana Tocoian Claremont McKenna College Oct 2013 - Preliminary, do not cite Abstract We investigate the two-directional relationship
More informationDEMOGRAPHIC FACTORS AFFECTING MACROECONOMIC EXPECTATIONS
DEMOGRAPHIC FACTORS AFFECTING MACROECONOMIC EXPECTATIONS James P. Dow, Jr., California State University, Northridge ABSTRACT This paper uses cross-sectional data from five instances of the Survey of Consumer
More informationThe Role of Exponential-Growth Bias and Present Bias in Retirment Saving Decisions
The Role of Exponential-Growth Bias and Present Bias in Retirment Saving Decisions Gopi Shah Goda Stanford University & NBER Matthew Levy London School of Economics Colleen Flaherty Manchester University
More informationThe Impact of Hypothetical Wealth Shocks on Retirement Timing
The Impact of Hypothetical Wealth Shocks on Retirement Timing NOVEMBER 11, 2017 1 Brooke Helppie-McFall University of Michigan Joanne W. Hsu Federal Reserve Board of Governors Matthew D. Shapiro University
More informationFluctuations in hours of work and employment across age and gender
Fluctuations in hours of work and employment across age and gender IFS Working Paper W15/03 Guy Laroque Sophie Osotimehin Fluctuations in hours of work and employment across ages and gender Guy Laroque
More informationThe Science of Macroeconomics
1 The Science of Macroeconomics Inflation CHAPTER 5 Modified by Ming Yi 2016 Worth Publishers, all rights reserved 0 IN THIS CHAPTER, YOU WILL LEARN: About the issues macroeconomists study About the tools
More informationDIMITRIS CHRISTELIS Curriculum Vitae November 2018
DIMITRIS CHRISTELIS Curriculum Vitae November 2018 CONTACT INFORMATION Centre for Studies in Economics and Finance (CSEF) Department of Economics and Statistics University of Naples Federico II Via Cintia
More informationIn Debt and Approaching Retirement: Claim Social Security or Work Longer?
AEA Papers and Proceedings 2018, 108: 401 406 https://doi.org/10.1257/pandp.20181116 In Debt and Approaching Retirement: Claim Social Security or Work Longer? By Barbara A. Butrica and Nadia S. Karamcheva*
More informationFinancial Advisors: A Case of Babysitters?
Financial Advisors: A Case of Babysitters? Andreas Hackethal Goethe University Frankfurt Michael Haliassos Goethe University Frankfurt, CFS, CEPR Tullio Jappelli University of Naples, CSEF, CEPR Motivation
More informationDebt and Financial Vulnerability on the Verge of Retirement
Debt and Financial Vulnerability on the Verge of Retirement Annamaria Lusardi (alusardi@gwu.edu) Olivia S. Mitchell (mitchelo@wharton.upenn.edu) Noemi Oggero (noggero@gwu.edu) (PRELIMINARY WORK) Conference
More informationU.S. Household Savings for Retirement in 2010
U.S. Household Savings for Retirement in 2010 John J. Topoleski Analyst in Income Security April 30, 2013 CRS Report for Congress Prepared for Members and Committees of Congress Congressional Research
More informationHousing prices, household debt and household consumption. Inquiry into housing policies, labour force participation and economic growth PEER REVIEWED
PEER REVIEWED EXECUTIVE SUMMARY Housing prices, household debt and household consumption Inquiry into housing policies, labour force participation and economic growth FOR THE AUTHORED BY Australian Housing
More informationVolume 29, Issue 1. Juha Tervala University of Helsinki
Volume 29, Issue 1 Productive government spending and private consumption: a pessimistic view Juha Tervala University of Helsinki Abstract This paper analyses the consequences of productive government
More informationHousehold Debt in America: A Look Across Generations Over Time
Household Debt in America: A Look Across Generations Over Time Carlos Garriga Bryan Noeth Don E. Schlagenhauf Federal Reserve Bank of St. Louis The Center for Household Financial Stability and Research
More informationChapter 6: Unemployment*
Chapter 6: Unemployment 1/45 * Slides based on Ron Cronovich's slides, adjusted for course in Macroeconomics for International Masters Program at the Wang Yanan Institute for Studies in Economics at Xiamen
More informationThe RAND HRS Data (Version J) 1. Overview Data Description. June 2010 Data Distribution Description
The RAND HRS Data (Version J) June 2010 Data Distribution Description 1. Overview 1.1. Data Description The RAND HRS Data file is a cleaned, easy-to-use, and streamlined version of the Health and Retirement
More informationMacroeconomics CHAPTER 6. Macroeconomics: The Big Picture
Macroeconomics CHAPTER 6 Macroeconomics: The Big Picture What you will learn in this chapter: An overview of macroeconomics, the study of the economy as a whole, and how it differs from microeconomics
More informationThe Impact of the Student Debt Crisis on Housing: Five Takeaways for the U.S. Real Estate Industry
The Impact of the Student Debt Crisis on Housing: Five Takeaways for the U.S. Real Estate Industry By Cari Smith, Vice President, and Steven Wang, Senior Associate Between 2000 and 2014, the total volume
More informationWealth Inequality Reading Summary by Danqing Yin, Oct 8, 2018
Summary of Keister & Moller 2000 This review summarized wealth inequality in the form of net worth. Authors examined empirical evidence of wealth accumulation and distribution, presented estimates of trends
More informationPersonal finance literacy formal preparation prior to college, what is sought in the university-level course, and student performance
Personal finance literacy formal preparation prior to college, what is sought in the university-level course, and student performance ABSTRACT Charles Corcoran University of Wisconsin River Falls A review
More informationThe Causal Effects of Economic Incentives, Health and Job Characteristics on Retirement: Estimates Based on Subjective Conditional Probabilities*
The Causal Effects of Economic Incentives, Health and Job Characteristics on Retirement: Estimates Based on Subjective Conditional Probabilities* Péter Hudomiet, Michael D. Hurd, and Susann Rohwedder October,
More informationHow Did the Recession of Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement Study?
Michigan University of Retirement Research Center Working Paper WP 2011253 How Did the Recession of 20072009 Affect the Wealth and Retirement of the Near Retirement Age Population in the Health and Retirement
More informationModule 19 Equilibrium in the Aggregate Demand Aggregate Supply Model
What you will learn in this Module: The difference between short-run and long-run macroeconomic equilibrium The causes and effects of demand shocks and supply shocks How to determine if an economy is experiencing
More information2017 Workplace Benefits Report
RETIREMENT & BENEFIT PLAN SERVICES 2017 Workplace Benefits Report Insight for employers to drive employee engagement and empower them to pursue their best financial lives 2017 WORKPLACE BENEFITS REPORT
More informationDr. Zeyyad Mandalinci
Dr. Zeyyad Mandalinci Personal Information Contact Information Research Interests Education Citizenship: Turkish Date of Birth: 4 th December 1984 Office W319 Tel: +44 (0) 77 8913 0292 School of Economics
More informationBefore and After the Economic Crisis: Changes in Financial Ratios of the Self-employed Households
Consumer Interests Annual Volume 51, 2005 Before and After the Economic Crisis: Changes in Financial Ratios of the Self-employed Households Mi Kyeong Bae, Keimyung University Sherman Hanna, The Ohio State
More informationMACROECONOMICS - CLUTCH CH INTRODUCING ECONOMIC CONCEPTS.
!! www.clutchprep.com CONCEPT: INTRODUCING MACROECONOMIC CONCEPTS BUSINESS CYCLE Business Cycles describe the increases and decreases in economic activity that occur over periods of several years Employment
More informationThe Evolution of Retirement Wealth
The Evolution of Retirement Wealth Sebastian Devlin-Foltz 1 Alice Henriques 1,2 John Sabelhaus 1 This Draft: November 10, 2014 Abstract Is the current mix of tax preferences for employer-sponsored pensions
More informationHOW DOES WOMEN WORKING AFFECT SOCIAL SECURITY REPLACEMENT RATES?
June 2013, Number 13-10 RETIREMENT RESEARCH HOW DOES WOMEN WORKING AFFECT SOCIAL SECURITY REPLACEMENT RATES? By April Yanyuan Wu, Nadia S. Karamcheva, Alicia H. Munnell, and Patrick Purcell* Introduction
More informationECO209 MACROECONOMIC THEORY. Chapter 14
Prof. Gustavo Indart Department of Economics University of Toronto ECO209 MACROECONOMIC THEORY Chapter 14 CONSUMPTION AND SAVING Discussion Questions: 1. The MPC of Keynesian analysis implies that there
More informationMeasuring the Financial Sophistication of Households
Measuring the Financial Sophistication of Households The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Calvet, Laurent
More informationInsights: Financial Capability. Gender, Generation and Financial Knowledge: A Six-Year Perspective. Women, Men and Financial Literacy
Insights: Financial Capability March 2018 Author: Gary Mottola, Ph.D. FINRA Investor Education Foundation What s Inside: Women, Men and Financial Literacy 1 Gender Differences in Investor Literacy 4 Self-Assessed
More informationHow Economic Security Changes during Retirement
How Economic Security Changes during Retirement Barbara A. Butrica March 2007 The Retirement Project Discussion Paper 07-02 How Economic Security Changes during Retirement Barbara A. Butrica March 2007
More informationAn Introduction to Macroeconomics
23 An Introduction to Macroeconomics McGraw-Hill/Irwin Copyright 2012 by The McGraw-Hill Companies, Inc. All rights reserved.. AGENDA Thurs 1/21 QOD #6: National Income GDP, Growth & Stability Partner
More informationStock market returns, macroeconomic activity and financial performance: Australia over the long run
Stock market returns, macroeconomic activity and financial performance: Australia over the long run Rajabrata Banerjee *, Tony Cavoli, Ron McIver and John Wilson School of Commerce, University of South
More informationSurvey Data in Macroeconomics
Survey Data in Macroeconomics I. Introduction Prof. Dr. Lena Dräger Johannes Gutenberg-University Mainz, GSEFM field course Email: ldraeger@uni-mainz.de 1 / 41 Organization of the course Organization of
More informationDeterminants of US Household Debt
Determinants of US Household Debt New Evidence from the SCF Rafael Wildauer The Challenge of Inequality Societies in Crisis AK Young Economists Conference 1 October 2015, Vienna Determinants of Household
More information2/3 81% 67% Millennials and money. Key insights. Millennials are optimistic despite a challenging start to adulthood
2/3 Proportion of Millennials who believe they will achieve a greater standard of living than their parents 81% Percentage of Millennials who believe they need to pay off their debts before they can begin
More informationThe Equifax Economic and Credit Markets Outlook
The Equifax Economic and Credit Markets Outlook A CUNA Roundtable Amy Crews Cutts SVP- Chief Economist, Equifax May 15, 2014 Comments on the Economic Outlook General forecast is that economic growth accelerates
More informationPsychological Factors of Voluntary Retirement Saving
Psychological Factors of Voluntary Retirement Saving (August 2015) Extended Abstract 1 Psychological Factors of Voluntary Retirement Saving Andreas Pedroni & Jörg Rieskamp University of Basel Correspondence
More informationLorem ipsum dolor sit amet, consectetur Millennial Financial Literacy and Fin-tech Use adipiscing elit, aliquam tincidunt dui.
Lorem ipsum dolor sit amet, consectetur Millennial Financial Literacy and Fin-tech Use adipiscing elit, aliquam tincidunt dui. Annamaria Lusardi Brussels Month Year November 7, 2018 Lorem ipsum dolor sit
More informationWealth Analysis: Introduction to Household Portfolios
Wealth Analysis: Introduction to Household Portfolios Eva Sierminska CEPS/INSTEAD, Luxembourg and DIW Berlin VIIth Winter School on Inequality and Social Welfare Alba di Canazei, January 9-12, 2012 Outline
More informationMacroeconomics. Identify and apply relevant terminology and concepts to economic issues and problems.
Macroeconomics Course Text and Study Guide Text: McConnell, Campbell R. and Stanley L. Brue. Macroeconomics: Principles, Problems, and Policies, 17th edition. McGraw-Hill, 2008. ISBN 0-07-327308-2. Study
More informationGross Domestic Product
Gross Domestic Product In this lesson, students will be able to identify characteristics of the Gross Domestic Product. Students will be able to identify and/or define the following terms: Gross Domestic
More informationPension fund investment: Impact of the liability structure on equity allocation
Pension fund investment: Impact of the liability structure on equity allocation Author: Tim Bücker University of Twente P.O. Box 217, 7500AE Enschede The Netherlands t.bucker@student.utwente.nl In this
More informationFlorida: An Economic Overview
Florida: An Economic Overview December 17, 2008 Presented by: The Florida Legislature Office of Economic and Demographic Research 850.487.1402 http://edr.state.fl.us More Measured Economy Florida s growth
More informationE-commerce stocks: Are we in bubble trouble?
Spring 2018 E-commerce stocks: Are we in bubble trouble? 1 2 3 Key takeaways E-commerce stock valuations have not yet reached prior peak levels, and favorable underlying economic conditions and generational
More informationThe Hartford partnered with the MIT AgeLab to conduct original research on couples and their financial planning to:
2 Couples Planning A shared financial planning style is essential for couples today. Research from The Hartford and the MIT AgeLab shows that couples who use a division of labor approach to handle financial
More informationMONETARY POLICY EXPECTATIONS AND BOOM-BUST CYCLES IN THE HOUSING MARKET*
Articles Winter 9 MONETARY POLICY EXPECTATIONS AND BOOM-BUST CYCLES IN THE HOUSING MARKET* Caterina Mendicino**. INTRODUCTION Boom-bust cycles in asset prices and economic activity have been a central
More informationDemand Shocks Fuel Commodity Price Booms and Busts
J.P. Morgan Center for Commodities at the University of Colorado Denver Business School Demand Shocks Fuel Commodity Price Booms and Busts Martin Stuermer, Ph.D. Senior Research Economist, Federal Reserve
More informationVolume 35, Issue 1. Effects of Aging on Gender Differences in Financial Markets
Volume 35, Issue 1 Effects of Aging on Gender Differences in Financial Markets Ran Shao Yeshiva University Na Wang Hofstra University Abstract Gender differences in risk-taking and investment decisions
More informationThe Determinants of Planned Retirement Age
The Determinants of Planned Retirement Age Lishu Zhang, Ph.D. student, Consumer Sciences Department, Ohio State University, 1787 Neil Ave., Columbus, OH 43210. e-mail: lishu.zhang@yahoo.com Sherman D.
More informationDemographic Change, Retirement Saving, and Financial Market Returns
Preliminary and Partial Draft Please Do Not Quote Demographic Change, Retirement Saving, and Financial Market Returns James Poterba MIT and NBER and Steven Venti Dartmouth College and NBER and David A.
More informationManufacturing Busts, Housing Booms, and Declining Employment
Manufacturing Busts, Housing Booms, and Declining Employment Kerwin Kofi Charles University of Chicago Harris School of Public Policy And NBER Erik Hurst University of Chicago Booth School of Business
More informationAndreas Fagereng. Charles Gottlieb. Luigi Guiso
Asset Market Participation and Portfolio Choice over the Life-Cycle Andreas Fagereng (Statistics Norway) Charles Gottlieb (University of Cambridge) Luigi Guiso (EIEF) WU Symposium, Vienna, August 2015
More informationOCR Economics A-level
OCR Economics A-level Macroeconomics Topic 2: Aggregate Demand and Aggregate Supply 2.5 Macroeconomic equilibrium Notes The economy reaches a state of equilibrium where AD = AS. How both demand-side and
More informationMacro Data Sources. Karl Whelan. September 28, 2012 UCD. Karl Whelan (UCD) Macro Data Sources September 28, / 13
Macro Data Sources Karl Whelan UCD September 28, 2012 Karl Whelan (UCD) Macro Data Sources September 28, 2012 1 / 13 Introduction I ve been asked to discuss macro data sources but, in fact, I think the
More informationFinancial Literacy: Prosperity Begins with Knowledge
Financial Literacy: Prosperity Begins with Knowledge Contents Executive Summary 3 Introduction 4 U.S. Consumer Banking Behavior and Attitudes 5 Perceptions of Financial Literacy and Programs 12 The Value
More informationDylan G. Rassier: Fair Value Accounting and Measures of U.S. Corporate Profits for Financial Institutions
Dylan G. Rassier: Fair Value Accounting and Measures of U.S. Corporate Profits for Financial Institutions Comments from Robert Dippelsman,, August 2016 The views expressed herein are those of the author
More information1 The Terrace, PO Box 3724, Wellington 6140 Tel: (04)
1 The Terrace, PO Box 3724, Wellington 6140 Tel: (04) 472-2733 Email: savingsworkinggroup@treasury.govt.nz Document: PAYGO vs SAYGO: Prefunding Government-provided Pensions Author: Andrew Coleman, Motu
More informationHYPERTENSION AND LIFE SATISFACTION: A COMMENT AND REPLICATION OF BLANCHFLOWER AND OSWALD (2007)
HYPERTENSION AND LIFE SATISFACTION: A COMMENT AND REPLICATION OF BLANCHFLOWER AND OSWALD (2007) Stefania Mojon-Azzi Alfonso Sousa-Poza December 2007 Discussion Paper no. 2007-44 Department of Economics
More informationUNIT 4 READING GUIDES CHAPTERS 16-20
UNIT 4 READING GUIDES CHAPTERS 16-20 Take your own notes on the reading guides. You WILL be able to use them on the test BUT ONLY IF YOU DO ALL OF THEM. These will be turned in after the UNIT 4 TEST for
More informationTHE IMPACT OF AGING BABY BOOMERS ON LABOR FORCE PARTICIPATION
February 2014, Number 14-4 RETIREMENT RESEARCH THE IMPACT OF AGING BABY BOOMERS ON LABOR FORCE PARTICIPATION By Alicia H. Munnell* Introduction The United States is in the process of a dramatic demographic
More information- US LEI & CEI - Yardeni Research, Inc.
- US LEI & CEI - 11 1 Figure. LEADING & COINCIDENT ECONOMIC INDICATORS (=, ratio scale) 11 1 Leading Economic Indicators recovering rapidly. Coincident Economic Indicators recovering slowly. 9 9 9 9 7
More informationDebt Literacy, Financial Experiences and Overindebtedness
Presentation to the World Bank Conference on Measurement, Promotion and Impact of Access to Financial Services Debt Literacy, Financial Experiences and Overindebtedness March 12, 2009 Annamaria Lusardi
More informationDisentangling Cognitive Function and Financial Literacy: Implications for Financial Retirement Security Research
Disentangling Cognitive Function and Financial Literacy: Implications for Financial Retirement Security Research Robert J. Willis University of Michigan March 11, 2009 Prepared for Conference on Financial
More informationFINANCIAL LITERACY AND STOCK MARKET PARTICIPATION Maarten van Rooij Annamaria Lusardi Rob Alessie WORKING PAPER 13565
FINANCIAL LITERACY AND STOCK MARKET PARTICIPATION Maarten van Rooij Annamaria Lusardi Rob Alessie WORKING PAPER 13565 NBER WORKING PAPER SERIES FINANCIAL LITERACY AND STOCK MARKET PARTICIPATION Maarten
More informationABSTRACT. Asian Economic and Financial Review ISSN(e): ISSN(p): DOI: /journal.aefr Vol. 9, No.
Asian Economic and Financial Review ISSN(e): 2222-6737 ISSN(p): 2305-2147 DOI: 10.18488/journal.aefr.2019.91.30.41 Vol. 9, No. 1, 30-41 URL: www.aessweb.com HOUSEHOLD LEVERAGE AND STOCK MARKET INVESTMENT
More informationJournal Of Financial And Strategic Decisions Volume 10 Number 3 Fall 1997 CORPORATE MANAGERS RISKY BEHAVIOR: RISK TAKING OR AVOIDING?
Journal Of Financial And Strategic Decisions Volume 10 Number 3 Fall 1997 CORPORATE MANAGERS RISKY BEHAVIOR: RISK TAKING OR AVOIDING? Kathryn Sullivan* Abstract This study reports on five experiments that
More informationTHE PERFORMANCE OF U. S. DOMESTIC EQUITY MUTUAL FUNDS DURING RECENT RECESSIONS
THE PERFORMANCE OF U. S. DOMESTIC EQUITY MUTUAL FUNDS DURING RECENT RECESSIONS Dr. 1 Central Connecticut State University, U.S.A. E-mail: belloz@ccsu.edu ABSTRACT In this study, I investigate the performance
More informationThe Role of Unemployment in the Rise in Alternative Work Arrangements. Lawrence F. Katz and Alan B. Krueger* 1 December 31, 2016
The Role of Unemployment in the Rise in Alternative Work Arrangements Lawrence F. Katz and Alan B. Krueger* 1 December 31, 2016 Much evidence indicates that the traditional 9-to-5 employee-employer relationship
More information17 th Annual Transamerica Retirement Survey Influences of Generation on Retirement Readiness
1 th Annual Transamerica Retirement Survey Influences of Generation on Retirement Readiness December 016 TCRS 1-6 Transamerica Institute, 016 Table of Contents Welcome to the 1 th Annual Transamerica Retirement
More information