Social and Behavioral Sciences Commons^™

Rainy Day Funds In The Mountain West, Fy22, Issac Hernandez-Alcaraz, Maryam Raja, Caitlin J. Saladino, William E. Brown Jr.

Elections & Governance

This fact sheet examines data from “Record State Budget Reserves Buffer Against Mounting Fiscal Threats,” a 2023 Pew Charitable Trusts report on rainy day fund balances of U.S. states. Data includes information on the strength of rainy day funds and total balances for each Mountain West state: Arizona, Colorado, Nevada, New Mexico, and Utah.

From Rags To Riches: Examining Teacher Perceptions Of The Influence Of Financial Literacy On The Psychological Well-Being Of Military-Connected Students In Kindergarten Through Grade Twelve, Cynthia Fletcher Davis

Doctoral Dissertations and Projects

The purpose of this quantitative study was to examine teacher perceptions as related to the influence of financial literacy on the psychological well-being of military-connected students in kindergarten through grade twelve. Financial literacy among students serves a vital function in the development of financially literate adults. A lack of financial resources has been linked to depressive symptoms, marital discourse, and suicide. Financial literacy includes the knowledge and skills required to make enlightened and effective decisions with money. The theory guiding this study was Constructivism as formulated by Jean Piaget. Constructivism provides for the incorporation of new information within existing constructs …

Experimental Evidence On Consumption, Saving, And Family Formation Responses To Student Debt Forgiveness, Jason Jabarri, Stephen Roll, Mathieu Despard, Leah Hamilton

Social Policy Institute Research

As policy-makers grapple with whether or not to forgive student debt, for who, and how much, it is important to explore how student debt forgiveness would relate to intended household decisions and behaviors. We conducted a survey experiment that asked participants with student debt to imagine a scenario in which the federal government forgave a certain amount of student debt. We then had these participants report on how this would affect their decisions and behaviors. 1,053 participants were randomly assigned to one of four conditions that offered $5,000, $10,000, $20,000, and complete debt forgiveness. Our results indicate that student debt …

Save, Gamble, Or Both? The Relationship Between Premium Bond Sales And Lottery Sales In The United Kingdom, Kaden Grace

Honors Theses

Four out of every ten Americans are unable to pay for an unexpected $400 bill out of their savings accounts. To ameliorate this problem, one policy to incentivize saving is a Prize-Linked Savings Account (PLSA). Unlike a traditional savings account that pays out a consistent rate of return, a PLSA pools the interest on all deposits and distributes the returns in randomly drawn prizes (similar to a lottery). However, PLSAs remain illegal in many areas due to a concern that the introduction of a private or public PLSA could cannibalize revenue from an existing state-sponsored lottery, thus restricting the state’s …

2022-13 Savings After Retirement, Eric French, John Bailey Jones, Rory Mcgee

Department of Economics Research Reports

Abstract: Retired households, especially those with high lifetime income, decumulate their wealth very slowly, and many die leaving large estates. The three leading explanations for the ‘retirement savings puzzle” are the desire to insure against uncertain lifespans and medical expenses, the desire to leave bequests to one’s heirs, and the desire to remain in one’s own home. We discuss the empirical strategies used to differentiate these motivations, most of which go beyond wealth to exploit additional features of the data. The literature suggests that all the motivations are present, but has yet to reach a consensus about their relative importance

Return Migration And Entrepreneurship In Egypt, Shorouk Fouda

Theses and Dissertations

Many Egyptians are currently choosing to emigrate in pursuit of benefits such as; education, professional development, acquisition of new skills and accumulation of savings. Although this was previously viewed as having a damaging effect to a country’s economy through the loss of most talented and ambitious nationals, more pertinent economic views suggest possible instances of brain circulation and gain upon the return of a national to their home country. In some cases, gains of return migration are unlocked in the form of entrepreneurial behavior; as a result of accumulation of financial and human capital. In this research, both quantitative and …

Is United States’ Economic Power In Decline? Can China Replace The U.S. As The World’S Next Economic Superpower?, Islam Bakirci

Dissertations

The decline of American economic power has been passionately debated for decades. Starting from the Kennedy administration, there were many cases that declinist scholars interpreted as the beginning of American economic power decline. The financial crisis of 2007-09 is the latest case of the same debate. However, unlike the previous cases, declinist scholars who support the idea of U.S. economic power is in decline after the financial crisis, strongly believe that this time the decline is different. This time the decline is real. In addition, the same scholars also argue that China, as an economic challenger which is different from …

2021-4 Old Age Savings And House Price Shocks, Rory Mcgee

Department of Economics Research Reports

Elderly households hold most of their wealth in housing, maintain high levels of wealth throughout retirement, and often leave bequests. The value of their houses are subject to large shocks. To what extent do these shocks aect their savings, consumption, and bequests? Answering this question requires separating precautionary savings, bequest motives, and the desire to remain in one's home. I develop and estimate a structural model of retirement savings decisions with realistic risks, housing, and heterogeneity in bequest preferences. I exploit policy changes to the taxation of housing and bequests to separately identify the different motives for holding wealth. Estimates …

Research Summary: Does Front-Loading Taxation Increase Savings? Evidence From Roth 401(K) Introductions, Parker Gardner

Marriott Student Review

Can taxing retirement savings upfront increase buying power in retirement? BYU Marriott School of Management Dean Brigitte Madrian and fellow researches examine the impact of Roth 401(k)s on retirement savings and find that the introduction of Roth 401(k)s does not impact the dollar amount invested into 401(k)s.

Economic And Demographic Determinants Of The Consumption, Saving And Borrowing Behaviors Of Households, Micaela Joseph

Applied Economics Theses

The personal savings rate is an unsettling subject, because every economist has distinctive opinions on the determinants of consumption, saving and borrowing behaviors of households. For instance, many individuals assume that there is a positive relationship between real disposable income and the personal savings rate. In other words, saving amongst households have increased with the growth of household wealth. On the other hand, some individuals deem that there is an inverse relationship between both variables, so much that this topic has always demanded further research to be completed. Because of my awareness and experience relating to this topic, I have …

Family Entrepreneurship: Place And Function In A National Economy, Sh. O. Kuvandikov

Central Asian Problems of Modern Science and Education

This article reveals the place and function of the family business in the conditions of modern market economy. And also developed science-based recommendations for improving the theoretical, methodological and practical foundations for the development of family business

The Role Of Deposit Operations In Increasing The Popularity Of Retail Banking Services, M. M. Karimova

Central Asian Problems of Modern Science and Education

This article discusses the role of deposit operations, deposit utilization rates, interest rates on deposits in banks, deposits and deposits of commercial banks, the amount of deposits in national currency and the role of deposit operations today in retail banking services. Has been released.

Build Your Own Nest: Singapore's First Study On Matched Savings Schemes For Lower Income, Older Women, David Chan, Benedict S. K. Koh

Research Collection School of Social Sciences

Matched Savings Scheme is a research study, commissioned by the International Longevity Centre – Singapore (ILC – Singapore) of the Tsao Foundation and funded by the Tote Board, found that a monthly matched savings scheme is effective in sustaining the retirement savings behaviour among a group of 377 elderly women from low-income households over the study period of 18 months. The research, conducted by principal investigator psychology professor David Chan and co-investigator finance professor Benedict Koh, used an experimental design and longitudinal tracking to examine the effects that different factors of a matched savings scheme have on the participants’ decision …

Policy Recommendations For Helping U.S. Households Build Emergency Savings, Mathieu R. Despard, Terri Friedline, Julie Birkenmaier

Center for Social Development Research

In households without emergency savings, an unexpected expense or financial shock can heighten stress and threaten the ability to meet basic needs. This brief, released through the Grand Challenges for Social Work initiative’s network toBuild Financial Capability for All, identifies three types of policies to enable U.S. households to save for emergencies.

A Toolkit For Expanding Financial Capability At Tax Time, Genevieve Davison, Merideth Covington, Olga Kondratjeva, Stephen P. Roll, Michal Grinstein-Weiss

Center for Social Development Research

This work expands upon The Volunteer Income Tax Preparer’s Toolkit: Showing Clients Why Tax Time is the Right Time to Save, a 2015 Toolkit by the Center for Social Development. This new offering presents the current evidence underpinning various tax-time efforts to expand financial capability among low- and moderate-income households. It includes sections on creating a VITA program and on several financial-capability products and services that organizations can offer alongside free tax-preparation services. The evidence comes from a variety of sources, but we highlight findings from research conducted by CSD, particularly that conducted as part of the Refund to Savings …

Faculty Perspectives On Financial Capability And Asset Building In Social Work Education: A Research Report, Margaret S. Sherraden, Jin Huang, Lissa Johnson, Peter Dore, Julie Birkenmaier, Vernon Loke, Sally Hageman

Center for Social Development Research

This report is based on a study conducted in collaboration with the Council on Social Work Education. The report presents findings from a national online survey of social work faculty. Results identify financial and economic (F&E) content taught in the current curriculum, gaps in coverage, and strategies for improving the academic preparation of social workers in these areas. Findings will inform financial capability and asset-building curriculum and improve the academic preparation of social workers.

Co-Integration Between Savings And Investment In India And The Us: An Econometric Analysis Of Feldstein-Horioka Hypothesis, Narender Thakur Ph.D., Vishnu Das Gupta

International Review of Business and Economics

This paper econometrically tests the Feldstein-Horioka hypotheses. It uses the domestic savings and domestic investments variables in India and the US in the period 1960- 2014. The Feldstein-Horioka hypotheses states that the cointegration relationship between domestic savings and domestic investments weakens in a country with higher foreign capital mobility and vice-versa. We find that the co-integration relation between the two time-series variables is weakened in the case of the US economy as compared to the Indian economy. These results have policy implications for India as it is opening itself up more to inward foreign investment.

The State Of State Eitcs: An Overview And Their Implications For Low- And Moderate-Income Households, Genevieve Davison, Stephen P. Roll, Samuel H. Taylor, Michal Grinstein-Weiss

Center for Social Development Research

The success of the federal Earned Income Tax Credit (EITC) has prompted numerous states to develop and administer their own EITC programs. This brief presents the results of analyses that used data from a large sample of low- and moderate-income households to learn more about the relationship between state and federal EITCs as well as about their relationships, respective and combined, with financial behaviors and the experience of financial and material hardship. Given that many EITC beneficiaries face substantial risk of experiencing income volatility and financial shocks, insights gained from this brief can assist policymakers in understanding the importance of …

The Role Of Choice Architecture In Promoting Saving At Tax Time: Evidence From A Large-Scale Field Experiment, Michal Grinstein-Weiss, Cynthia Cryder, Mathieu R. Despard, Dana C. Perantie, Jane E. Oliphant, Dan Ariely

Center for Social Development Research

This paper presents the findings of a large-scale field experiment (N = 646,16) from the Refund to Savings Initiative. The experiment tested a choice architecture and persuasive messaging intervention that increased saving among low-moderate income (LMI) consumers by approximately 50% during tax refund time. Two follow-up experiments parsed components of the intervention. The first follow-up experiment (N = 569) tested the messaging and choice architecture interventions separately, finding that each can increase savings. a final follow-up experiment (N = 554) tested individual elements of the choice architecture intervention, demonstrating that mere mention of savings within choice options was not sufficient …

Datos Para Replicar Los Cálculos Del Artículo "La Consar: Balanceando Los Intereses De Los Ahorradores Y Las Afores", Rodrigo Garcia-Verdu

Rodrigo Garcia-Verdu

Annual Report On The Head Start Family Financial Capability Program: 2015–2016, Jami Curley, Anne S. Robertson

Center for Social Development Research

This report presents results from a mixed-methods evaluation of the third year of implementation of a financial-capability program with Head Start families in the St. Louis, Missouri, metropolitan area: The Head Start Family Financial Capability (HSFFC) Program. The program combined savings incentives, budget and credit counseling, and one-on-one coaching with 10 hours of financial education on debt management, banking, budgeting, saving, and credit. The results reported here come from analyses of data on 339 adult program participants from Head Start families, 107 Head Start staff who participated in the program, and administrators and staff implementing the program at Head Start …

Hospital Merger And Acquisition Effects On Healthcare Quality And Cost, Emily Su

Honors Theses

Healthcare is as much a business subject to market dynamics as it is a public service, with enormous sums of money and resources devoted to it. Since a person’s health is one of his or her most valuable assets, healthcare will always be in high demand, regardless of the price of medical goods and services. Considering healthcare’s nature as a necessary good and the irreplaceable importance of a medical facility to its service area, any changes in capacity or method of healthcare delivery may have profound effects on the dependent population. Situations in which a hospital merges with a healthcare …

Employee Financial Wellness Programs: A Review Of The Literature And Directions For Future Research, Geraldine Hannon, Meredith Covington, Mat Despard, Ellen Frank-Miller, Michal Grinstein-Weiss

Center for Social Development Research

This is a literature review of studies that have examined the implementation of financial wellness programs in the workplace. The review suggests that employee financial wellness programs (EFWPs) have drawn on both existing and new methods to improve the financial security of employees. Although a number of studies have been conducted on employer-based financial education and retirement planning, evidence concerning the efficacy of EFWPs is limited. Moreover, the methodological shortcomings of studies in the workplace financial wellness field have limited evidence concerning returns on investment and impeded efforts to make best-practice recommendations. Thus, researchers should consider strengthening the evidence base …

Who Bleeds When The Wolves Bite? A Flesh-And-Blood Perspective On Hedge Fund Activism And Our Strange Corporate Governance System, Leo E. Strine Jr.

All Faculty Scholarship

This paper examines the effects of hedge fund activism and so-called wolf pack activity on the ordinary human beings—the human investors—who fund our capital markets but who, as indirect of owners of corporate equity, have only limited direct power to ensure that the capital they contribute is deployed to serve their welfare and in turn the broader social good.

Most human investors in fact depend much more on their labor than on their equity for their wealth and therefore care deeply about whether our corporate governance system creates incentives for corporations to create and sustain jobs for them. And because …

Assessing Retirement Needs And Interest In Myra: Findings From The Refund To Savings Initiative, Stephen P. Roll, Jane E. Oliphant, Dana C. Perantie, Michal Grinstein-Weiss, Genevieve Davison

Center for Social Development Research

As part of the U.S. Department of the Treasury’s ongoing effort to promote the myRA starter retirement account, we used the Refund to Savings Initiative’s Household Financial Survey to assess low- to moderate-income tax filers’ retirement needs, attitudes towards retirement, and interest in a myRA-type account. We also tested different messaging approaches for promoting myRA. The report found that 32% of survey respondents did not own a retirement account and that lack of money and lack of access to an employer-based account were major impediments to retirement account ownership. The report also found that only 10% to 15% of respondents …

Savings, Net Foreign Assets And Current Accounts Dynamics In Subsaharan Africa, A. I. Adeleke, W. Ohemeng, K. Ofori-Boateng

Economic and Financial Review

A profile of the current account balance in sub-Sahara Africa (SSA) shows that many countries in the region have consistently experienced current account deficits, dwindling savings and diminishing net foreign assets. These macroeconomic variables convey important information to economic agents about the health of a nation. The relationships among these three important variables in terms of short-run and long-run dynamics are cloudy in the literature. Therefore, this study examined the long-run and short-run dynamics of savings, net foreign assets and current account balance in subSaharan Africa. Utilising panel econometric techniques with annual data from 38 countries in SSA for the …

Coping With A Crisis: Financial Resources Available To Low- And Moderate-Income Households In Emergencies, Dana C. Perantie, Stephen P. Roll, Jane E. Oliphant, Shenyang Guo, Michal Grinstein-Weiss

Center for Social Development Research

Using data from tax records and a longitudinal survey, this brief investigates the choices low- and moderate-income households make about their tax withholding and their preferences for withholding. The relationship between withholding preferences and the use of the tax refund, measures of material hardship, and the use of alternative financial services is also explored. We find that almost half of all survey respondents preferred to overwithhold their income each year in order to get a larger tax refund. Yet despite preferring to take home less income during the year, these households experienced higher levels of material hardship than those who …

Income Distribution, Export Instability, And Savings Behavior, David Lim

Prof. David Lim

This paper examines the effects of income distribution and export instability on the savings ratios of a group of 12 developed and 52 less developed countries (DCs and LDCs) for 1968-73. The effect of income distribution on savings has been studied before but not on as comprehensive a group of countries as presented here. The effect of export instability on savings has not been examined before in the literature on the determinants of savings behavior. It has, however, been discussed in the literature on the relationship between export instability and economic growth and part of the purpose of this paper …

Asset Building: Toward Inclusive Policy, Michael Sherraden, Lissa Johnson, Margaret Clancy, Sondra G. Beverly, Margaret S. Sherraden, Mark Schreiner, William Elliott Iii, Trina Shanks William, Deborah Adams, Jami C. Curley, Jin Huang, Michal Grinstein-Weiss, Yunju Nam, Min Zhan, Chang-Kuen Han

Center for Social Development Research

This Working Paper has been submitted for inclusion in theEncyclopedia of Social Work's new online edition, which is published by Oxford University Press. Since 1991, a new policy discussion has arisen in the United States and other countries, focusing on building assets as a complement to traditional social policy based on income. In fact, asset-based policy already existed (and still exists) in the United States, with large public subsidies. But the policy is regressive, benefiting the rich far more than the poor. The goal should be a universal, progressive, and lifelong asset-based policy. One promising pathway may be Child Development …

Financial Anxiety In Low- And Moderate-Income Households: Findings From The Household Financial Survey, Stephen P. Roll, Samuel H. Taylor, Michal Grinstein-Weiss

Center for Social Development Research

Despite significant gains in the U.S. economy following the Great Recession, finances remain a common source of stress for many American households. In 2016, 52% of U.S. workers reported that their financial position made them stressed, and research reveals that stress and anxiety associated with finances are particularly common among low-income Americans. In this brief, we explore the topic of financial anxiety, particularly its relationship to demographic and financial characteristics, measures of hardship, and financial behaviors. We find that financial anxiety is strongly linked to the overall levels of debt and assets held by low-income households, as well as their …