Theoretical and empirical analysis of the structure of household portfolios.

Developing personal financial skills and improving financial literacy are fundamental aspects for managing money and propelling a bright financial future. Considering life events and risks that unexpectantly present themselves, especially in the light of recent global events, there is often an uncertainty associated with financial standings in unsettled times. It is important to have personal finance management to prepare for times of crisis, and personal finance is something to be thought about in everyday life. The incorporation of financial literacy for individuals is essential for a decision-making process that could affect their financial future. Having a keen understanding of beneficial and detrimental financial decisions, a plan for personal finances, and personalized goals are baselines for money management that will create stability and prosperity. In a world that is rapidly digitalized, there are new tools and technologies that have entered the sphere of finance as well that should be integrated into the conversation. The latest methods and models for improving financial literacy along with critical information on budgeting, saving, and managing spending are essential topics in today’s world. The Research Anthology on Personal Finance and Improving Financial Literacy provides readers with the latest research and developments in how to improve, understand, and utilize personal finance methodologies or services and obtain critical financial literacy. The chapters within this essential reference work will cover personal finance technologies, banking, investing, budgeting, saving, and the best practices and techniques for optimal money management. This book is ideally designed for business managers, financial consultants, entrepreneurs, auditors, economists, accountants, academicians, researchers, and students seeking current research on modern advancements and recent findings in personal finance.

Arbitrage, State Prices and Portfolio Theory / Philip h. Dybvig and Stephen a. Ross / - Intertemporal Asset Pricing Theory / Darrell Duffle / - Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance / Wayne E. Ferson / - Consumption-Based Asset Pricing / John y Campbell / - The Equity Premium in Retrospect / Rainish Mehra and Edward c. Prescott / - Anomalies and Market Efficiency / William Schwert / - Are Financial Assets Priced Locally or Globally? / G. Andrew Karolyi and Rene M. Stuli / - Microstructure and Asset Pricing / David Easley and Maureen O'hara / - A Survey of Behavioral Finance / Nicholas Barberis and Richard Thaler / - Derivatives / Robert E. Whaley / - Fixed-Income Pricing / Qiang Dai and Kenneth J. Singleton.

This book offers a comprehensive overview of the financial systems of major industrialized countries using the statistical framework of the financial accounts. After a discussion of how economists agreed to create a framework to monitor the financial linkages between surplus and deficit sectors, the book analyzes in detail the composition and the recent evolution of financial assets and liabilities for households (including public pension rights), firms and intermediaries. Next, the volume studies the convergence patterns of financial structures and their influence on the effectiveness of monetary policy within European countries. The final chapter unifies the previous pictures, showing how the effects of financial integration and global imbalances could have been foreseen based on the financial accounts. The analysis and information contained in the book will help the readers to understand many issues and challenges raised by the recent financial crisis.

WINNER, Business: Personal Finance/Investing, 2015 USA Best Book Awards FINALIST, Business: Reference, 2015 USA Best Book Awards Investor Behavior provides readers with a comprehensive understanding and the latest research in the area of behavioral finance and investor decision making. Blending contributions from noted academics and experienced practitioners, this 30-chapter book will provide investment professionals with insights on how to understand and manage client behavior; a framework for interpreting financial market activity; and an in-depth understanding of this important new field of investment research. The book should also be of interest to academics, investors, and students. The book will cover the major principles of investor psychology, including heuristics, bounded rationality, regret theory, mental accounting, framing, prospect theory, and loss aversion. Specific sections of the book will delve into the role of personality traits, financial therapy, retirement planning, financial coaching, and emotions in investment decisions. Other topics covered include risk perception and tolerance, asset allocation decisions under inertia and inattention bias; evidenced based financial planning, motivation and satisfaction, behavioral investment management, and neurofinance. Contributions will delve into the behavioral underpinnings of various trading and investment topics including trader psychology, stock momentum, earnings surprises, and anomalies. The final chapters of the book examine new research on socially responsible investing, mutual funds, and real estate investing from a behavioral perspective. Empirical evidence and current literature about each type of investment issue are featured. Cited research studies are presented in a straightforward manner focusing on the comprehension of study findings, rather than on the details of mathematical frameworks.

The NBER Macroeconomics Annual presents pioneering work in macroeconomics by leading academic researchers to an audience of public policymakers and the academic community. Each commissioned paper is followed by comments and discussion. This year's edition provides a mix of cutting-edge research and policy analysis on such topics as productivity and information technology, the increase in wealth inequality, behavioral economics, and inflation.

The De Gruyter Handbook of Personal Finance provides a robust review of the core topics comprising personal finance, including the primary models, approaches, and methodologies being used to study particular topics that comprise the field of personal finance today. The contributors include many of the world’s leading personal finance researchers, financial service professionals, thought leaders, and leading contemporary figures conducting research in this area whose work has shaped—and continues to affect—the way that personal finance is conceptualized and practiced. The first section of the handbook provides a broad introduction to the discipline of personal finance. The following two sections are organized around the core elements of personal finance research and practice: saving, investing, asset management, and financial security. The fourth section introduces future research, practice, and policy directions. The handbook concludes with a discussion on an educational and research agenda for the future. This handbook will be a core reference work for researchers, financial service practitioners, educators, and policymakers and an excellent supplementary source of readings for those teaching undergraduate and graduate-level courses in personal finance, financial planning, consumer studies, and household finance.

Editor Wolff is a leading authority on income, wealth, and inequality in the US, and contributing authors are well-respected experts in their field. Overall, the research is high quality, and most papers include a substantial list of references. A plethora of data is considered, and much statistical evidence is presented. . . . A useful contribution to the literature on income distribution and wealth inequality. Recommended. E. Kacapyr, Choice The contributors to this comprehensive book compile and analyse the latest data available on household wealth using, as case studies, the United States, Canada, Germany, Italy, Sweden, and Finland during the 1990s and into the twenty-first century. The authors show that in the US, trends are highlighted in terms of wealth holdings, among the low-income population, along with changes in wealth polarization, racial differences in wealth holdings, and the dynamics of portfolio choices. The consensus between the authors is that wealth inequality has generally risen among these OECD countries since the early 1980s, although Germany stands out as an exception. In the case of the US, it is also noted that wealth holdings have generally failed to improve among low-income families and that the racial wealth gap widened during the late 1980s. International Perspectives on Household Wealth also contains new results on a number of topics, including measures and changes of wealth polarization in the US, measurement and changes of portfolio span in the US, asset holdings of low-income households in the US, and the effects of parental resources on asset holdings in Chile. Academic, government, and public policy economists in OECD countries, as well as those in so-called middle-income countries around the world, will find much to engage them within this book. It will also appeal to academics and researchers of international and welfare economics and other social scientists interested in the issue of inequality.

Housing finance structures and Institutional and regulatory/fiscal aspects in housing have changed significantly in recent years. This book examines the development in housing markets in Europe and the US, and looks at ways to make housing more affordable and housing market developments more stable.