Personal Finance

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  • People wait in line at the St. Clements Food Pantry in New York City, December 11, 2020, poto by Carlo Allegri/Reuters

    Commentary

    Without Unemployment Benefits, How Might Americans Make Ends Meet?

    Dec 30, 2020

    Do unemployment benefits keep people from accepting jobs? What effect do they have on the economy? Researchers and policymakers have been debating these issues since COVID-19 led to widespread job losses last spring.

  • Cars line up during a food drive in East Rutherford, New Jersey, November 24, 2020, photo by Brendan McDermid/Reuters

    Report

    Americans' Financial Difficulties Continue

    Dec 17, 2020

    As the pandemic continues, many U.S. households are struggling to pay their bills. No income group has been spared financial difficulties, but the most-vulnerable households have been hit the hardest. There are severe challenges among lower-income workers and among Black and Hispanic households.

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  • Journal Article

    Journal Article

    Subjective Mortality Risk and Bequests

    The results of this paper show a strong empirical relevance of subjective survival curves, indicating the importance to take into consideration of this dimension of individual heterogeneity in life cycle models.

    Oct 6, 2017

  • Graduates tossing their mortarboards in the air

    Commentary

    Is College Worth the Expense? Yes, It Is

    Many American students struggle with the soaring cost of higher education. And for many college students, debt can have severe negative implications. But on balance, the benefits of a college degree appear to outweigh the costs.

    May 22, 2017

  • A woman worrying at her desk

    Commentary

    We Still Know Little About Financial Well-Being

    There is a clear link between UK employees being concerned about their finances and negative health and well-being. The challenge for researchers is that financial well-being is hard to measure.

    Feb 20, 2017

  • New shoe and old shoe side by side.

    Commentary

    Trends in Inequality and the World's Eight Richest Men

    While Oxfam reports have done a good job of bringing attention to the problem of inequality, they may give the false impression that global inequality has been rising instead of falling. Global inequality has actually been on the decline while inequality within the developed world is increasing.

    Feb 10, 2017

  • Report

    Report

    Managing the Principal Agent Problem in Bolsa Familia: A look at contextual factors that affect the quality of implementation

    Bolsa Familia (BF) is a conditional cash transfer programme introduced in 2003 in Brazil. This report aims to understand the principal agent problem in BF.

    Nov 2, 2016

  • Illustration of people thinking and organizing their thoughts

    Commentary

    Book Review: 'Bourgeois Equality'

    In Bourgeois Equality, economist and historian Deirdre McCloskey advances the theory that ideas — not capital, institutions, innovation, R&D, tax policy, monetary policy, or regulatory policy — are the propelling force behind economic and societal growth.

    Sep 30, 2016

  • A young man looking at a computer screen

    Commentary

    You're Never Too Young to Plan for Retirement

    Saving early for retirement is critical, but it's also important to stay on track during job changes. Younger workers tend to change jobs often, and if they cash out of their plans with each position, that can affect their long-term savings.

    Sep 2, 2016

  • Demonstrators march in the Occupy LA protest through downtown Los Angeles to City Hall on October 15, 2011

    Commentary

    Fixing Inequality of Opportunity

    Research has fueled concerns about how income inequality drives inequality of opportunity. Commonsense approaches such as improvements in education and access to quality health care have been shown to provide young people with better opportunities.

    Jul 6, 2016

  • Piggy bank and school books in a classroom

    Tool

    A Tool for Reviewing K-12 Financial Education Curricula

    A bewildering array of curricula and materials is available to support K–12 financial education. This reviewing tool helps educators assess which to use, and to better understand the strengths and gaps in the curriculum currently in use.

    Nov 5, 2015

  • Report

    Report

    Development of a K–12 Financial Education Curriculum Assessment Rubric

    RAND researchers document the current state of the literature and advance a set of criteria for assessing the content, utility, quality, and efficacy of K-12 financial education curricula.

    Nov 5, 2015

  • Traders work on the floor of the New York Stock Exchange after an announcement by the Federal Reserve, October 28, 2015

    Commentary

    Zero Interest, Greater Inequality?

    Low interest rates mandated by the Federal Reserve may have had and possibly continue to have adverse effects on income inequality. Those who argue for continuing near-zero short-term interest rate policy should be cognizant of this.

    Nov 2, 2015

  • Closing numbers are illuminated on a board above the floor of the New York Stock Exchange, September 1, 2015

    Report

    Effective Disclosures in Financial Decisionmaking

    Financial service providers often have better information about their wares than consumers. Disclosure is a policy tool designed to address this by giving consumers valuable information. But it may not provide enough support in helping them make more informed decisions.

    Oct 12, 2015

  • Colleagues discussing ideas

    Commentary

    Do Young 'Elites' Favor Income Redistribution?

    Young “elites” — employed Americans who are 40 or younger, with high household incomes and graduate degrees — and especially Democratic elites have a strong preference for income redistribution.

    Oct 8, 2015

  • Financial Advisor Talking To Senior Couple At Home

    Report

    Do Financial Advisers Influence Savings Behavior?

    Financial advisers can play an important role with helping individuals make better financial decisions and improving their financial situations. But does working with a financial adviser improve savings behavior, particularly saving for retirement?

    Oct 8, 2015

  • Glasses on newspaper stock market report

    Journal Article

    Measuring How Stock Ownership Affects Which Judges and Justices Hear Cases

    This study aims to measure the impact of recusals due to stock ownership on the pool of judges and justices that hear cases involving publicly traded corporations.

    Sep 14, 2015

  • Events @ RAND Audio Podcast

    Multimedia

    Financial Literacy and the Cost of Ignorance

    In this Events @ RAND podcast, Economist Annamaria Lusardi discusses financial literacy, or the ability to use knowledge and skills to manage financial resources effectively. The podcast also explores workplace programs and policy changes that could help individuals learn about managing their personal finances.

    Jun 18, 2015

  • Research Brief

    Research Brief

    Evaluating conditional cash transfer programmes: The case of Bolsa Familia

    Summary of report examining factors affecting quality of implementation of the conditional cash transfer (CCT) programme Bolsa Familia.

    Apr 30, 2015

  • Report

    Report

    Potential Economic Effects on Individual Retirement Account Markets and Investors of DOL's Proposed Rule Concerning the Definition of a 'Fiduciary'

    This paper examines the potential effects of the U.S. Department of Labor, Employee Benefits Security Administration's proposed rule 29 CFR Part 2510, Definition of the Term "Fiduciary" on people with Individual Retirement Accounts.

    Apr 28, 2015

  • Closeup of hands of two people drinking and smoking

    Commentary

    Paying People to Change Behavior in the UK: Lessons from Latin America

    Policymakers in Western countries seeking new policy levers to tackle costly lifestyle behaviors in the age of austerity may do well to take up programs based on cash incentives. Recent analysis of conditional payment programs in Latin America highlights some useful lessons.

    Mar 30, 2015

  • Journal Article

    Journal Article

    How Do Management Fees Affect Retirement Wealth Under Mexico's Personal Retirement Accounts System?

    In 1997, Mexico transformed its pay-as-you-go social security system to a fully funded system with personal retirement accounts, including management fees. This article examines changes in retirement wealth resulting from this new system.

    Feb 16, 2015