Household Finance

Household financial decisions are complex, interdependent, and heterogeneous, central to the functioning of system. We present an overview rapidly expanding literature on household finance (with some important exceptions) suggest directions for future research. begin with theory empirics asset market participation allocation over life cycle. then discuss choices in insurance markets, trading behavior, retirement saving, by retirees. survey research liabilities, including mortgage choice, refinancing, default, behavior unsecured credit cards payday lending. connect its social environment, peer effects, cultural hereditary factors, intra-household decision-making, literacy, cognition, educational interventions. also provision consumption advice. (JEL D15, G41, G50, J26, Z13)