Search Results
Journal Article
As household asset values rise, should we still worry about the saving rate?
Although some data show that household wealth is rising, we shouldn't be complacent about the flip side of the coin-that personal saving is in a nosedive.
Conference Paper
The macroeconomic transition to high household debt - comments
Journal Article
Kids Bank Encourages Early Saving in Fort Worth
A unique partnership between Unity One Federal Credit Union and Fort Worth's Washington Heights Elementary School created a "Kids Bank" that encourages savings and teaches children valuable financial skills that will benefit them for a lifetime.
Conference Paper
The macroeconomic transition to high household debt
Aggressive deregulation of the household debt market in the early 1980s triggered innovations that greatly reduced the required home equity of U.S. households, allowing them to cash-out a large part of accumulated equity. In 1982, home equity equaled 71 percent of GDP; so this generated a borrowing shock of huge macroeconomic proportions. The combination of increasing household debt from 43 to 56 percent of GDP with high interest rates during the 1982-1990 period is consistent with such a shock to households? demand for funds. This paper uses a quantitative general equilibrium model of ...
Discussion Paper
Payments, credit, and savings: the experience for LMI households
The Payment Cards Center and the Community Affairs Department invited Michael Barr, University of Michigan Law School and faculty investigator for the 2005-2006 Detroit Area Study (DAS), to collaborate in organizing a conference, ?Payments, Credit, and Savings: The Experience for LMI Households,? held May 21-22, 2007, at the Federal Reserve Bank of Philadelphia. This year?s DAS survey was designed to gain a better understanding of 1) how and why LMI households use a wide array of financial services as well as the costs and benefits of such services and 2) how LMI households would respond to ...
Journal Article
Personal on-line payments
The swift growth of e-commerce and the Internet has led to the development of a new form of electronic funds transfer?the personal on-line payment?that uses web and e-mail technologies to initiate and confirm payments. This article describes this payment instrument and the trends that have given rise to it. The authors explain that personal on-line payment systems are already providing a convenient alternative to checks, money orders, and cash, and may replace credit cards for some small-scale retail e-commerce. However, issues such as the interoperability of diverse systems and the systems? ...
Journal Article
Helping the poor accumulate assets
Having assets (a bank account, a car, an insured home, a good credit rating) does more than help families weather a crisis. It can move them out of poverty permanently, with benefits to individuals, government, corporations, and society as a whole.
Journal Article
RAISE Texas: moving Texans towards financial success
What began several years ago as a network of matched savings programs to encourage low-income Texans to save has blossomed into a statewide, comprehensive asset-building movement now known as RAISE Texas.
Journal Article
Banking on Financial Education
Last fall, the Texas Department of Banking surveyed Texas banks to identify the financial education services and programs they offer. One hundred and fifty-four banks responded to the online survey.