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Financial freedom is generally understood as state to do anything whenever you want. Financial well being brings lot of direct benefits like mental peace and capability to help others financially. Gender equality is new development of last few decades and one sees women in various roles,...
This paper uses data from the Euro Survey of the Oesterreichische Nationalbank (OeNB) for ten Central, Eastern and Southeastern European (CESEE) countries to analyze the saving behavior of CESEE households between 2010 and 2011. We investigate households’ decisions to save and their subsequent...
Based on a survey by the Oesterreichische Nationalbank (OeNB) in 2004, this paper aims to assess Austrian households’ financial capability with respect to managing money, planning ahead financially, making financial choices and staying informed. People’s attitudes about money often depend on...
Extensive field evidence shows individuals’ decisions in settings involving choice under uncertainty (e.g. savings and investment choices) depend on the decisions of their peers. One hypothesized cause of peer group effects is social interaction effects: an individual’s utility from an...
Standardization of complex products is touted as improving consumer decisions and intensifying price competition, but evidence on standardization is limited. We examine a natural experiment: the standardization of health insurance plans on the Massachusetts Health Insurance Exchange....
Using data from a U.S. household survey, we examine the empirical relation between subjective life horizon (i.e., the self-reported expectation of remaining life span) and portfolio choice. We find that equity portfolio shares are higher for investors with longer horizons, ceteris paribus, in...
We estimate the relationship between the returns on housing, stocks, and bonds, and simulate a variety of decumulation strategies incorporating reverse mortgages. We show that homeowner's reversionary interest, the amount that can be borrowed through a reverse mortgage, is a surprisingly risky...
We analyse how the financial support for long-term elderly care affects the level of household savings. Using a difference-in-differences estimator, we investigate the 2002 Scottish reform, which introduced free formal personal care for all the elderly aged 65 and above residing in Scotland. Our...
To sustain growth in an aging economy, it is important to ease the financing of small firms by bank loans. Using bank internal data of small business loans in Germany, we examine the determinants of loan rates in the period 1995-2010. Beyond characteristics of the firm, the loan contract, and...
We analyse how the financial support for long-term elderly care affects the household’s propensity to save. Using the difference-in-differences estimator, we investigate the 2002 Scottish reform, which introduced free formal personal care for all the Scottish elderly aged 65 and above. We find...