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Consumer Finances (consumer + finance)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting71%
Humanities and Social Sciences28%

Selected Abstracts

Assessing the Baby Boomers' Financial Wellness Using Financial Ratios and a Subjective Measure

FAMILY & CONSUMER SCIENCES RESEARCH JOURNAL, Issue 4 2004
Eunyoung Baek
The purpose of the study was to examine the financial wellness of the baby boomers using two definitions of financial wellness: objective and subjective financial wellness. With data on 2,021 baby boomer households from the 2001 Survey of Consumer Finances, the study examined factors related to three measures of objective wellness and one measure of subjective wellness. The results showed that 20% met the guideline for liquid assets-to-income, 74% met the guideline for debt-to-assets, 62% met the guideline for investment assets-to-net worth, and 64% said that compared to others of their generation and background, they were lucky in their financial affairs. The results help consumer educators and financial advisors understand which factors should be emphasized when providing information to baby boomers. [source]

How Do Families Manage Their Economic Hardship?

FAMILY RELATIONS, Issue 4 2010
Eunyoung Baek
Using data from the 2007 Survey of Consumer Finances, this study examined how families manage their economic hardship. A conceptual model was developed based on risk management theory and the permanent income hypothesis. About half of families used credit and about a third used their own savings to make up the difference between income and spending. The results of multinomial logit analysis showed that families' use of management methods differed when they faced economic hardship, depending on their situation. [source]

ACCI Memorial Paper: The Scholarly Legacy of E. Scott Maynes

JOURNAL OF CONSUMER AFFAIRS, Issue 1 2010
LOREN V. GEISTFELD
This paper honors E. Scott Maynes, who died on June 24, 2007 and had been a professor emeritus in the Department of Policy Analysis and Management at Cornell University. The paper describes Scott's scholarly legacy in research, highlighting four areas: survey research methods, research using data from Surveys of Consumer Finances, Scott's studies of local consumer markets, and two significant books Scott Maynes authored. The author of this memorial paper concludes that Scott's scholarly legacy is neither a new theory nor a new statistical technique but the importance of vision, passion, perseverance, commitment, and creativity for the applied social science researcher. [source]

Using the Survey of Consumer Finances: Some Methodological Considerations and Issues

JOURNAL OF CONSUMER AFFAIRS, Issue 2 2007
SUZANNE LINDAMOOD
We identify and present original analyses of four methodological issues related to using Survey of Consumer Finances data sets and illustrate these issues with recent articles published in this journal. The issues are recognizing that the respondent is not necessarily the household head, reporting race and ethnicity in conformity with Survey of Consumer Finances and federal standards, using the repeated-imputation inference method to combine the five implicates in each survey year's data set, and discussing the use of weighted or unweighted data in multivariate analysis. We found a considerable variation in how authors dealt with these issues, which could hinder replication or comparison of research results. Authors and reviewers should consider methodological issues related to the Survey of Consumer Finances more carefully. [source]

How Credit Access Has Changed Over Time for U.S. Households

JOURNAL OF CONSUMER AFFAIRS, Issue 2 2003
ANGELA C. LYONS
The financial industry made a number of efforts throughout the 1990s to provide additional borrowing opportunities to households traditionally constrained by the credit markets. Using data from the Survey of Consumer Finances (SCF), this study investigates the degree to which household liquidity constraints relaxed between 1983 and 1998. The gap between actual and desired borrowing is estimated. The findings indicate that the ability of all households to obtain their desired debt levels increased after 1983 and most dramatically between 1992 and 1998. The findings hold true across all households regardless of permanent earnings, age, gender, or race. Those experiencing the greatest gains in credit access were black households and households with low permanent earnings. [source]

Cohort patterns in Canadian earnings: assessing the role of skill premia in inequality trends

CANADIAN JOURNAL OF ECONOMICS, Issue 4 2000
Paul Beaudry
In this paper we document the pattern of change in age-earnings profiles across cohorts and evaluate its implications. Using synthetic cohorts from the survey of Consumer Finances over the period 1971 to 1993, wwe show that the age-earnings profiles of Canadian men have been deteriorating for more recentcohorts in comparison with older cohorts. We find this pattern for both high school and university educated workers. In no case do we find evidence that the return to gaining experience has been increasing over time, nor do we find increased within-cohort dispersion of earnings. We view these findings as conflicting with the hypothesis that increased skill premia largely explain the observed increase in dispersion of male weekly earnings. JEL Classification: J31, O33 Ce mémoire documente le pattern de changements dans les relations âges-gains d'une cohorte à l'autre, et en analyse les implications. Utilisant des cohortes synthétiques pour la période 1971,93, on montre que les profils âges-gains des hommes au Canada se sont détériorés dans les cohortes les plus récentes. On ne trouve pas de résultats qui montreraient que le rendement sur l'expérience accumulée s'est accru dans le temps ou qu'il y a dispersion accrue des gains à l'intérieur des cohortes. Les auteurs suggèrent que ces résultats contredisent l'hypothèse que des primes accrues pour les habiletés expliqueraient l'accroissement qu'on a observé dans la dispersion des gains des hommes au Canada. [source]