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Journal Article
Retirement savings and decision errors: lessons from behavioral economics
Daly, Mary C.; Armour, Philip (2008)
Long gone are the days when most American workers could rely on their employers to manage their retirement savings. Today, most people handle their retirement portfolios themselves, gaining the right and responsibility to determine their own best strategies. Research on retirement planning suggests, however, that many fall short of consensus targets for optimal savings and investment. While part of the shortfall is explained by information gaps and income constraints, research in behavioral economics suggests that "decision errors," arising out of human tendencies such as procrastination, ...
FRBSF Economic Letter

Speech
Impact of the Great Recession on public schools in the region
Dudley, William (2012)
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Speech , Paper 74

Journal Article
Americans cut their debt
Koepke, Matthew; Demyanyk, Yuliya (2012-08)
The Great Recession brought an end to a 20-year expansion of consumer debt. In its wake is a lively debate about what caused the turnaround. Was it motivated by a decreased appetite for debt by consumers or an unwillingness to lend by banks? Our analysis of Equifax and Mail Monitor data shows that the major cause was most likely consumers.
Economic Commentary , Issue Aug

Conference Paper
The macroeconomic transition to high household debt - comments
Hurst, Erik (2006-11)
Proceedings , Issue Nov

Working Paper
The human capital that matters: expected returns and the income of affluent households
Campbell, Sean D.; Korniotis, George M. (2008)
We implement the human capital CAPM (HCAPM) using the income growth of high income households, rather than aggregate income growth, to proxy the return to human capital (HCRT). We find that identifying the HCRT with the income growth of affluent households, those who are most likely to hold stocks, substantially improves the performance of the HCAPM. Specifically, the pricing errors, R-square?s, average returns on factor mimicking portfolios, and performance relative to other macro-finance models uniformly improve as the HCRT is identified with the income growth of successively more affluent ...
Finance and Economics Discussion Series , Paper 2008-09

Working Paper
Household inflation experiences in the U.S.: a comprehensive approach
Mayer, Kristin; Stennis, Carter; Topa, Giorgio; Hobijn, Bart (2009)
We present new measures of household-specific inflation experiences based on comprehensive information from the Consumer Expenditure Survey (CEX). We match households in the Interview and the Diary Surveys from the CEX to produce both complete and detailed pictures of household expenditures. The resulting household inflation measures are based on a more accurate and detailed description of household expenditures than those previously available. We find that our household-based inflation measures track aggregate measures such as the CPI-U quite well and that the addition of Diary Survey data ...
Working Paper Series , Paper 2009-19

Conference Paper
The macroeconomic transition to high household debt - comments
Rogerson, Richard (2006-11)
Proceedings , Issue Nov

Journal Article
Household balance sheets and the recovery
Occhino, Filippo; Bianco, Timothy (2011-03)
Falling home and financial asset prices have combined to weaken the average household?s balance sheet, and this has helped to slow down the current recovery. We examine the role that household balance sheets have typically played in postwar business cycles and assess their importance in explaining why some recoveries, including the current one, have been weaker than others.
Economic Commentary , Issue Mar

Journal Article
Recent development in the mortgage and consumer credit markets
Luckett, Charles A. (1982-05)
Federal Reserve Bulletin , Issue May , Pages 281-290

Report
Payday holiday: how households fare after payday credit bans
Strain, Michael R.; Morgan, Donald P. (2007)
Payday loans are widely condemned as a ?predatory debt trap.? We test that claim by researching how households in Georgia and North Carolina have fared since those states banned payday loans in May 2004 and December 2005. Compared with households in all other states, households in Georgia have bounced more checks, complained more to the Federal Trade Commission about lenders and debt collectors, and filed for Chapter 7 bankruptcy protection at a higher rate. North Carolina households have fared about the same. This negative correlation?reduced payday credit supply, increased credit ...
Staff Reports , Paper 309

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