Working Paper: NBER ID: w22066
Authors: Cristian Badarinza; John Y. Campbell; Tarun Ramadorai
Abstract: This paper reviews the literature on international comparative household finance. The paper presents summary statistics on household balance sheets for 13 developed countries, and uses these statistics to discuss common features and contrasts across countries. The paper then discusses retirement savings, investments in risky assets, unsecured debt, and mortgages.
Keywords: household finance; international comparison; financial behavior
JEL Codes: D14; G11
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| cultural attributes (Z10) | households' willingness to engage with formal financial systems (G50) |
| cultural attributes (Z10) | financial behavior (G53) |
| institutional differences (D02) | households' financial decisions (G59) |
| institutional differences (D02) | savings rates (D14) |
| historical experiences with inflation volatility (E31) | household financial systems (D14) |
| historical experiences with inflation volatility (E31) | current financial behaviors (G50) |