Saltar al contenido principal
logo

2022 Annual Conference

del 19 al 21 de May del 2022

Sheraton Sand Key, Clearwater Beach, FL, US

Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.

Scroll down to search by the Submitter or Author Name, by Date/Time, or by Keywords.

Confirm your place in the schedule by going to the ACCI Presenter Confirm Google Sheet and marking your session with the name and email address of the author who will be attending and presenting. Each presentation must have a separate paid registraint. Contact the ACCI Office immedicately by email at admin@consumerinterests.org to report a conflict or if you have questions. Please be sure to reference the session title(s), date(s), and time(s) if you contact us.

D3a Cash in the Cookie Jar: Did Liquidity Help Families During the Great Recession?

viernes, el 20 de mayo de 2022 a las 14:00–15:30 EDT
Room 3
Key Words

Great Recession, Liquidity, Household Finance, Financial Planning

Short Description

The purpose of this study is to find whether the level of initial liquidity had an impact on household wealth through the Great Recession of 2008. The study uses the Survey of Consumer Finances panel data from 2007-2009. Incidentally, the Federal Reserve Board (FRB) and NORC conducted the first wave of the Survey of Consumer Finances interviews for 2007 as a triennial cross-section right before the advent of the Great Recession that lasted for 18 months after starting at the end of 2007. After that, the FRB and NORC conducted a series of panel re-interviews between July 2009 and January 2010, presenting a unique opportunity to ascertain the impact of decisions during this time to prepare households for future economic uncertainties. Financial advisers often discuss the importance of emergency savings for clients. The level of liquid assets held relative to debt payments, or income varies substantially across households. This paper estimates the average marginal effects of the recession on the households’ net worth, dividing them into groups based on net worth and level of liquidity and controlling for relevant covariates. The study intends to guide the liquidity needs of families based on findings.

Submitter

Aman Sunder, College for Financial Planning

Authors

Aman Sunder, College for Financial Planning
Lance Palmer, University of Georgia
Joseph Goetz, University of Georgia
Cargando…