In this piece of research, we inspect the influence of individual financial knowledge and financial behavior on the probability of experiencing financial distress. Using the 2015 National Financial Capability Study, we examine three measures of financial distress related to bill payment,...

Financial literacy is essential for making key financial decisions related to saving, borrowing and investment. Although numerable studies have been conducted to find elements of financial literacy, most of them focus on developed countries. This study aims to determine characteristics that...

We show that household heads with a strong internal economic locus of control are more likely to hold equity and hold a larger share of equity in their investment portfolio. This relation holds when we control for economic preferences and possible confounders such as financial literacy,...

We show that household heads with a strong internal economic locus of control are more likely to hold equity and hold a larger share of equity in their investment portfolio. This relation holds when we control for economic preferences and possible confounders such as financial literacy,...

Uncertainty associated with the future and the lack of full protection against the financial consequences of adverse events are the most important reasons of research on economic security of households. Literature distinguishes between two basic concepts: economic insecurity and economic...

The article proposes a method to assess the level of economic security, based on the analysis of scenarios of future events. These scenarios cover realistically possible combinations of future events, both positive and negative, allowing for an assessment of their financial implications. The...

The federal government encourages human capital investment through lending and grant programs, but resources from these programs may also finance non-education activities for students whose liquidity is otherwise restricted. This paper explores this possibility, using administrative data for the...

Using representative household survey data, we study the short-term microeconomic effects of the Egyptian revolution on household behaviour in terms of education, health expenditure and savings. We construct a new measure of political instability by analysing the number of fatalities during...

I examine the consumption and labor decisions of self-employed households when a child goes to college using unique financial transactions data from the linked accounts of small businesses and their owners. Households respond to the increase in education spending by downsizing business...

This paper studies the effect of changes in expected college costs on household savings, asset allocation, and stock market participation. Using household-level data for households with children, I first find that a $1,000 increase in in-state college tuition leads to a 1.7% higher probability...