Most young households simultaneously hold both unsecured debt on which they pay an average of 10 percent interest and social security wealth on which they earn less than 2 percent. We document this fact using data from the Panel Study of Income Dynamics. We then consider a life-cycle model with...
The paper tests the credit-market effects of housing wealth shocks by estimating the consumption elasticity of house price shocks among households in different age quintiles. Younger households face faster expected income growth and hence would like to borrow more than older households. It estimate consumption elasticity's from housing wealth by...
Household arrears on payment obligations are one of the most direct measures of household sector financial stress. In this paper a time series approach is used to model two of the key components of aggregate UK household arrears: those on mortgages and credit cards. Mortgages are the main component of...
This document updates table based on data from the 2001 Survey of Consumer Finances conducted on the use of electronic banking. This document updates the statistics indicating how the use of various means of electronic payment has changed between 1995, 1998, and 2001. It notes that the use of electronic...
Most of the people take for granted being able to turn the lights on and keep their homes warm. But for some people, basic energy needs account for a disproportionate amount of their income. The aim of the paper is that as far as reasonably practicable no household should be...
A typical household has a home mortgage as its most significant financial contract. The form of this contract is correspondingly important. This paper studies the choice between a fixed-rate FRM and an adjustable-rate ARM mortgage. In an environment with uncertain inflation, a nominal FRM has risky real capital value whereas...
Buying a home involves time, energy, and, most of all, money. In addition to committing one’s own self to mortgage payments for 15 to 30 years, he needs quite a bit of money "up-front" to close the transaction. There are several types of closing or settlement costs and other...
A fuel poor household is one that cannot afford to keep adequately warm at reasonable cost. The most widely accepted definition of a fuel poor household is one which needs to spend more than 10% of its income on all fuel use and to heat its home to an adequate...
It took a couple of years of high gas prices, but since gas topped $3 per gallon and mostly stayed there, even the wealthiest households have increasingly begun to take gas prices into account when choosing a vehicle, according to a survey by CNW Marketing Research, Bandon, Ore. ...
LUXEMBOURG -- Regulatory News: ArcelorMittal announces the publication of its inaugural Corporate Responsibility Report for the year ending 2007: "Taking Responsibility for Transforming Tomorrow". The report is available at www.arcelormittal.com Corporate Responsibility Following on from the publication of a Corporate Responsibility review in...
DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/f5642c/hdtv_2008_global) has announced the addition of Screen Digest's new report "HDTV 2008: Global Uptake, Strategies and Business Models" to their offering. Screen Digest has identified three critical success factors that will support the successful migration to HDTV: penetration of...
NEEDHAM, Mass. -- With rapid growth in trade volumes demanding that workflow become more efficient and effective, order management system OMS applications have an increasingly critical role to play in the asset management business for traders as well as portfolio managers and operations staff. Based on new...
EL PASO, Texas, July 8 /PRNewswire-FirstCall/ -- Helen of Troy Limited , designer, developer and worldwide marketer of brand-name personal care and household consumer products, today reported record first quarter sales and an earnings increase of 28.9 percent, excluding significant items for the quarter ended May...
Avail Media, the only customer service-focusedaggregator and provider of both linear and video on demand VOD, MPEG-4IPTV content, today announced seven new affiliates that will offer Avail OnDemand, Avail Media's VOD service offering. The new affiliate lineupincludes Clarksville Utilities, NuVision, FTC Diversified Services, LigTel,Guam Telecom Authority, Kentucky Telephone,...
Ultra-High NA 193 Immersion Scanner Centerpiece of 300 mm Capability MARLBOROUGH, Mass. -- Rohm and Haas Electronic Materials (NYSE:ROH) today announced the recent opening of its new $60 million immersion lithography facility to support its extensive research and development of advanced 193 nanometer nm lithography...
If kids today make you worry for the future, Jose Gomez provides some relief. The 18-year-old is Utah's State Youth of the Year for Boys & Girls Clubs of Greater Salt Lake, a selection that has so far garnered him $3,000 in college...
With World Elite MasterCard, Fifth Third Private Bank's Affluent Clients Can Now Take Advantage of Exclusive Services and Global Acceptance PURCHASE, N.Y., July 7 /PRNewswire-FirstCall/ -- MasterCard Worldwide today announced that Fifth Third Private Bank, one of the largest Private Banks in the Midwest,...
MOSCOW -- "COMSTAR - United TeleSystems" JSC ("Comstar" or "the Group") (LSE:CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced the acquisition of a 100% stake in LLC "Strategy", the owner of 100% of the share capital of CJSC Ural Telephone Company ("UTC"),...
Long-term care is the perfect hot-button issue for those who like to rail against government incompetence. It encompasses several mortal sins of ineptitude and bureaucracy: insensitivity, ineffective enforcement and poor stewardship of taxpayer dollars. But let's be honest. Government's approach...
MOSCOW -- "COMSTAR - United TeleSystems" JSC ("Comstar" or "the Company") (LSE:CMST), the leading integrated telecommunications operator in Russia and the CIS, today announced that it has implemented Oracle E-business Suite, the full-scale Enterprise Resource Planning ("ERP") system from Oracle. The total investment in the project amounted...
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