Homeownership rates are declining in many countries and the potential impact on financial
wellbeing is largely unknown. Additionally, the potential impact may be expected to be …

The central issue of this paper is analysis and resulting proposals to help unsophisticated
pension participants achieve pension portfolios that match their level of risk aversion when …

We develop a measure of mutual fund investment knowledge that complements existing fi-
nancial literacy measures. Our question battery was administered to 3,444 survey …

In most OECD countries, financial advisors are primarily paid through commissions. This
entails a principal agent problem in which the financial advisor has the incentive to sell …

The shift from defined benefit plans to defined contribution plans in the private sector has
shifted the cost of generating income in retirement from plan sponsors to individuals. As they …

It is well-documented that many people have low levels of financial literacy. The solution to
this problem is less clear. One initial response has been to develop education programs that …

How much do financial management fees cost investors? This article studies an
approximate formula for the cumulative costs of annual Assets Under Management (AUM) …

На рубеже XX-XXI вв. правительство одной из самых развитых англоязычных стран
мира-Соединенных Штатов Америки, который активно реагирует на …

This article compares the fundamental legal parameters, including related tax issues, of two
such structured vehicles that utilize senior debt as collateral: the cash flow collateralized …