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The Wealthy Hand-to-Mouth. Greg Kaplan, Princeton University, NBER, and IFS; Giovanni L. Violante, New York University, CEPR, NBER, and IFS; Justin Weidner, Princeton University “The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement …
“The United Nations 2013 World Youth Report offers a broad understanding of the situation of young migrants from the perspective of young migrants themselves. The report highlights some of the concerns, challenges and successes experienced by young migrants based on their own lives and told in their own voices. The report focuses largely on the …
“According to the summary results of bank stress tests announced by the Federal Reserve on Thursday, the largest banking institutions in the United States are collectively better positioned to continue to lend to households and businesses and to meet their financial commitments in an extremely severe economic downturn than they were five years ago. This …
“The Bank of England today launched its Strategic Plan, following a six month exercise led by the Executive Committee of the Bank. The Plan, to be implemented over the next three years, provides an ambitious agenda to transform the institution to take full advantage of the Bank’s expanded policy responsibilities. It will create a single, unified institution – One …
“Recent and very extensive information from the Internal Revenue Service (IRS) about tax returns, audits and its own criminal enforcement actions are now available on the public web site of the Transactional Records Access Records (TRAC). See TRAC’s IRS Data Tools and Applications page. TRAC’s tools let you explore newly released data from the IRS about …
World Bank: “From Indonesia to Bangladesh to Nepal, community members armed with smartphones and GPS systems are contributing to some of the most extensive and versatile maps ever created, helping inform policy and better prepare their communities for disaster risk. In Jakarta, more than 500 community members have been trained to collect data on thousands of …
“The stories in our e-book on Ms. Yellen — based on decades of Wall Street Journal reporting about the economy, the central bank and national policy makers — form the first in-depth portrait of the woman with the levers of the global financial system at her fingertips.” To download the full e-book for free, go …
News release: “Information received since the Federal Open Market Committee met in January indicates that growth in economic activity slowed during the winter months, in part reflecting adverse weather conditions. Labor market indicators were mixed but on balance showed further improvement. The unemployment rate, however, remains elevated. Household spending and business fixed investment continued to …
“U.S. banks and credit unions are carrying a much heavier regulatory and risk management burden than they were a year ago. That’s according to the results of the latest Regulatory & Risk Management Indicator for the U.S. banking industry issued today by Wolters Kluwer Financial Services, a comprehensive provider of risk management, compliance, finance and audit solutions and …
March 2014 EBRI Issue Brief #397 Employee Benefit Research Institute, 2014. Executive Summary “The percentage of workers confident about having enough money for a comfortable retirement, at record lows between 2009 and 2013, increased in 2014. Eighteen percent are now very confident (up from 13 percent in 2013), while 37 percent are somewhat confident. Twenty-four percent are …
“An examination of data from the FINRA Investor Education Foundation’s National Financial Capability Study (State-by-State Survey) found that millennials are struggling financially. In particular, they exhibit a number of problematic financial behaviors, display low levels of financial literacy and express concerns about their debt. Within the millennial generation, females and minorities display signs of lower financial capability relative to males …
“Growing inequality in recent years has put increased pressure on fiscal policy to redistribute income. While the question of just how much redistribution the state should do, in the end, rests with national governments, the design of the policies themselves has a critical bearing on their effects on efficiency and growth. The design of these growth-friendly, …
