Personal Wealth

  • Street sign with Wall St. and Main St. signs, photo by BobHemphill/Getty Images

    Commentary

    A Tale of Two Americas

    Economic pain in the United States is obvious and palpable everywhere except in the stock market. This spotlights inequality that has been increasing for decades. Undoing disparities will require firm policy commitment over many years.

    Jul 9, 2020

  • Journal Article

    Effect of Early-Stage Alzheimer's Disease on Household Financial Outcomes

    Our goal in this study is estimate, on net, the financial effects of early-stage Alzheimer's Disease, from the start of first symptoms to diagnosis, on individuals and their families.

    Mar 10, 2020

  • Journal Article

    The Effect of Housing Wealth Losses on Spending in the Great Recession

    This article represents the first U.S. study employing exclusively household-level longitudinal data spanning the Great Recession to estimate the response of household spending to negative wealth shocks induced by the sharp declines in house prices.

    Sep 20, 2019

  • Journal Article

    Financial Knowledge and Portfolio Complexity in Singapore

    This paper reports the first analysis of older Singaporeans' financial literacy using a unique new dataset, the Singapore Life Panel (SLP®).

    Sep 20, 2019

  • Blog

    Shutdown, Hezbollah, Border Wall: RAND Weekly Recap

    This weekly recap focuses on Americans' financial fragility, Hezbollah in Venezuela, assessing the effectiveness of a border wall, and more.

    Feb 15, 2019

  • Woman seated on the floor, surrounded by bills and receipts, photo by David Sacks/Getty Images

    Commentary

    What the Shutdown Revealed About the Fragility of American Life

    The government shutdown highlighted the lack of resilience many suffer from when they encounter unexpected economic events. The median American family has been losing ground for decades. Policy responses to address this situation will be complex and difficult, but are much needed.

    Feb 11, 2019

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • A man at an Occupy Wall Street protest in New York City, October 2011

    Commentary

    Growth Versus Equality: Striking the Right Balance

    There's a difficult trade-off between income equality and the growth that comes from successful innovation. But one doesn't have to overwhelm the other.

    Jan 30, 2015

  • An individual running on a treadmill

    Journal Article

    Wealth and Health Behavior: Testing the Concept of a Health Cost

    The value of health lost, not just monetary cost, may partially explain why the wealthy consume more healthy and only moderately unhealthy goods, but fewer very unhealthy goods. Rich people tend to be healthy.

    Jan 9, 2015

  • A justice scale with more money on one side than the other

    Commentary

    Survey Asks Democrats, Republicans, Should the Government Reduce Income Inequality?

    Today, Democrats are more than six times likelier than Republicans to believe the U.S. government should play a role in reducing income inequality. This is not due to differences in age, gender, education, or income distributions among the two parties.

    Oct 9, 2014

  • silhouette of brain made of money

    Multimedia

    RAND Behavioral Finance Forum 2014: Leveraging Behavioral Insights to Improve Financial Health

    Video compilation of the 2014 Behavioral Finance (BeFi) Forum in Washington, D.C., a day-long event that included a series of topical panels on curated presentations of academic research followed by discussion by leading researchers, practitioners, and policymakers.

    Jul 29, 2014