This paper examines how expecting to receive an inheritance impacts household savings decisions. Life-cycle consumption models indicate that the expectation of inheriting should reduce current savings plans for forward-thinking consumers. We investigate how inheritance expectations shape savings...

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...

Asset accumulation in later life is a pressing issue in Japan due to the growing gap between life expectancy (87.14 years for women, 81.09 years for men in 2023) and the retirement age (65 or less). This gap heightens financial insecurity, emphasizing the need to meet asset goals by 65....

The European Union requires a single market for capital. Well-developed and integrated capital markets support economic growth and resilience across the region, offering benefits for businesses, households, and financial stability. This paper examines the importance of CMU in achieving five...

A large share of the global workforce lacks access to employer-sponsored retirement plans. In Colombia, where labor informality is high, the government introduced the Beneficios Economicos Periodicos (BEPS) program to promote voluntary retirement savings. However, many enrollees fail to...

Mobile air-conditioning (MAC) systems represent a significant source of energy consumption in passenger vehicles, particularly under real-world operating conditions. Improving the efficiency of these systems is crucial for enhancing overall energy performance while ensuring occupant comfort....

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...

This study examined the relationships between financial literacy, financial product ownership, confidence in financial advisers, and confidence in retirement readiness across Estonia, Latvia, and Lithuania. By using data from the Flash Eurobarometer 525 survey (March 2022) and applying...

This paper examines how expecting to receive an inheritance impacts household savings decisions. Life-cycle consumption models indicate that the expectation of inheriting should reduce current savings plans for forward-thinking consumers. We investigate how inheritance expectations shape savings...

In this report, we consider policies to help people appropriately manage their defined contribution (DC) pension wealth through later life. We draw on evidence in a report published alongside this one (Boileau, Cribb and Emmerson, 2025), which sets out key information on the landscape in which...

This report is one of two reports on the management of pension wealth in retirement conducted as part of the Pensions Review, led by the Institute for Fiscal Studies in partnership with the abrdn Financial Fairness Trust. In this report, we examine the decisions that older individuals face as...

Household savings are a long-term financial issue that can undermine the financial well-being of American families if not addressed. This study examines financial planning strategies through the Behavioral Life-Cycle (BLCH) hypothesis, focusing on long-term savings goals, financial safety nets,...

The purpose of this meta-analytical review of experimental studies was to examine the effects of financial literacy and financial behavior on financial well-being. This research was conducted by a master's in library and information science (MLIS)-trained Information Specialist using the PICO...

The total wealth of Britain's households in 2018 to 2020 was approximately £2.2 trillion less than was previously believed - a 14% reduction. That, at least, is the implication of a recent change in methodology made by the Office for National Statistics (ONS) to the UK's leading official...

The current system of private pension savings in the UK is based on employers choosing a workplace pension provider, to which contributions from the employee and employer are sent, and which invests the contributions on behalf of the employee. This means that when an individual leaves their...

This report examines ethnic differences in pension participation in the UK following the nationwide roll-out of automatic enrolment, the drivers of those gaps, and the consequences for wealth accumulation. It draws on an academic research paper (Cribb, O'Brien and Sturrock, 2025) published...

This report describes patterns of co-residence of young adults at a parental home in the United Kingdom. We show how the rate of co-residence varies across dimensions such as income, region and ethnicity. We show how it has changed in recent years and discuss potential drivers of the rise...

The study examines the shift in taxation of open-ended fixed-income funds in Brazil from a realization basis to an accrual basis (locally known as come-cotas), which was introduced in 1998 and more recently extended to include private closed-end funds and offshore trusts through the enactment of...

Low- and middle-income countries are experiencing fast population aging and reductions in extreme poverty, increasing theoretical incentives to save for old age, but empirical evidence on household wealth accumulation over the life cycle is lacking. Using age-cohort-time decompositions on 18...

Low- and middle-income countries are aging rapidly but stagnation of growth in participation in pension programs, due to widespread informal employment, presents a major fiscal challenge. Some claim that improving the design of pension program rules can encourage more pension contributions,...

This paper studies families' capacity to pay for college in the United States, focusing on changes over time and differences by race and socioeconomic status. I use data from the National Postsecondary Student Aid Study (NPSAS) to document changes over time in the Expected Family Contribution...

When searching for employment, workers consider non-wage job characteristics, such as effort requirements or amenities. We study an environment where unemployed workers search for jobs of different quality in a labor market characterized by directed search. In equilibrium, firms are more likely...

The war in Ukraine triggered a big energy crisis, which particularly escalated in the winter of 2023 throughout all Europe. The crisis was a good opportunity for policymakers to encourage people to save electricity in the household. The aim of this paper is to analyse the changes in electricity...

The 1992 Maastricht Treaty, laid the foundations for the current European Union with its single market in goods, services, capital and labour and established the framework for the creation of the single currency. We study countries that differ in the extent to which they share a common currency...

Developing countries generally exhibit low 'saving' (flow concept) and 'savings' (stock concept) rates. The factors underlying household positive or negative saving behaviours in developed and developing countries are not new in the macroeconomic literature. Whereas some determinants are...

This study aims to examine the factors that influence societal savings habits and pre-retirement well-being. Triggered by the global trend of low personal interest rates, it seeks to illuminate how preparedness for retirement affects the overall quality of life and societal well-being. More...

We examine the effect of fatal and nonfatal health shocks on household debt defaults. Fatal shocks significantly cause defaults, especially among surviving spouses lacking sufficient resources, namely housing wealth. Our findings suggest that this behavior is not due to inattention. These shocks...