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We hypothesize that the physical characteristics of cash lead to differences in "pain of holding" which influences spending. In one field study (rural India) and two controlled experiments (N = 1710), we tested that hypothesis by endowing people with coins or equivalently valued banknotes and measuring their pain of holding and spending. Holding denomination constant (e.g., $1 coins vs. $1 banknotes), participants reported a greater pain of holding for coins (vs banknotes) which in turn increased spending. These findings were consistent across three incentive‐compatible experiments using a range of contexts (spending/donation), populations (Americans/Indians), and currencies (USD/INR). There was no evidence that coins were spent more than banknotes because of lower perceived purchasing power. Our findings suggest that the pain of holding contributes to under‐saving, which may be especially problematic among vulnerable populations who rely on cash. Conceptually, we shed new insight on the denomination effect (greater spending of smaller than larger denominations) and the pain of paying (the aversive experience of spending money). Practically, we provide recommendations for practitioners who wish to encourage donations, spending, or saving. [ABSTRACT FROM AUTHOR]

This paper examines how households reacted to the dismantling of the one-child policy, which China relaxed in 2013 and eliminated prior to 2017. We use household survey data and a series of regressions to show that birth rates, female labor force participation, and household saving rates have already changed. Between 2015 and 2017, the proportion of households with children having more than one child increased by at least five percentage points. Moreover, within households adding another child, female labor force participation and saving rates significantly decreased. Our paper contributes to the empirical literature on the economic impacts of pro-fertility policies and has implications for the theories of why households save. [ABSTRACT FROM AUTHOR]

We argue that the 40‐year‐old Feldstein–Horioka "puzzle" should have never been labeled as such. We discuss two problems with the literature. First, we show that the series of investment and saving rates typically used in empirical exercises to test the Feldstein–Horioka thesis are not appropriate. The correct series to properly test it are not collected. Second, we show that the Feldstein–Horioka regression is not a model in the econometric sense, that is, an equation with a proper error term (a random variable). The reason is that by adding the capital account to their regression, one gets the accounting identity that relates the capital account, domestic investment, and domestic saving. This implies that the estimate of the coefficient of the saving rate in the Feldstein–Horioka regression can be thought of as a biased estimate of the same coefficient in the accounting identity, where it has a value of 1. Because the omitted variable is known, we call it pseudo bias. Given that this (pseudo) bias is known to be negative and less than 1 in absolute terms, it should come as no surprise that the Feldstein–Horioka regression yields a coefficient between 0 and 1. [ABSTRACT FROM AUTHOR]

The purpose of the article. The study aimed to assess the impact of an inflation level on purchasing decisions of consumers in selected voivodeships (mazowieckie, lubelskie, podkarpackie, małopolskie). The following hypotheses were adopted: H1: Poles' purchasing decisions in a period of rising inflation depend on the voivodeship in which they live. H1a: Residents of voivodeships with a lower average gross salary (podkarpackie and lubelskie) pay more attention to product features, discounts and places where they shop than residents of voivodeships with a high average gross salary (mazowieckie and małopolskie). H2: Poles' purchasing decisions in a period of rising inflation depend on gender. H2a: Women pay more attention to product features, discounts and places where they shop than men. Methodology. The study employed the diagnostic survey method using an online survey. The voivodeships selected for the study were categorized based on the indicators of an average monthly gross salary in relation to the national average. For mazowieckie and małopolskie voivodeships these values were above 100%, while for podkarpackie and lubelskie voivodeships they ranged from 84–88%. In addition, statistical analyzes were performed to observe relationships such as gender and voivodeship: the chi-square test with an in-depth analysis of standardized categorized residuals, Cramer's V coefficient and Spearman's rank correlation coefficient. Results of the research. The article showed that the relationship between inflation and purchasing behavior of Polish people is an important topic that helps understand how consumers react to rising prices and what strategies they choose when shopping during inflation. Relationship between consumer behavior and the voivodeship was confirmed only in two cases related to shopping habits. This leads to the rejection of H1 and H1a hypotheses. The amount of the average monthly gross salary in relation to the national average (podkarpackie, lubelskie) is not a factor that makes Polish people more inclined to pay attention to product features, discounts and places of purchase, compared to residents of voivodeships with a higher average monthly gross salary (mazowieckie and małopolskie). H2 and H2a hypotheses were confirmed with greater accuracy. It has been noticed that purchasing decisions of Polish people depend on gender, and women pay attention to product features such as a price, promotions, and places where they shop more often than men.

The Covid-19 pandemic generated uncertainty among consumers, a slowdown in consumption and an increase of the added saving at world level, the microeconomic evidence showed a tendency towards dissaving and growing consumption. These variations activate questioning about the consequences of confinement in intertemporal consumption, at the same time they allow to provide new empirical evidence about life-cycle models in their standard or neoclassical and behavioral versions. The purpose of this work was to experimentally evaluate the intertemporal consumption patterns from the postulates of both life cycle models. To this end, an experimental simulation exercise of online purchases of commodities was carried out with the participation of 210 consumers who were subjected to treatments that included a baseline, income increase scenarios and no-income withdrawal scenarios. The results verified the existence of consistent responses with the behavioral model in 85% of the cases and with the standard model for the remaining 15%; that is, the tendencies to smooth consumption and increase savings were in the minority in the group evaluated and the confinement context did not translate into more self-controlled intertemporal consumption behaviors.

The COVID-19 pandemic may make people feel that they are likely to die in the near future. This study investigates how COVID-19 influences subjective mortality expectations and savings behaviour. We conducted a questionnaire survey in Japan with 2500 individuals, aged 20–79 years, who were working or whose spouses were working in January 2021. We empirically analysed the effect of an increase in subjective mortality on savings using the questionnaire response data. According to the questionnaire aggregation 33% of the respondents perceived an increase in the possibility of death because of COVID-19. Our empirical results, based on an instrumental variable method that considers the endogeneity of subjective mortality, show that increases in subjective mortality expectations due to COVID-19 have decreased savings. Therefore, the pandemic has decreased individuals' motivation for saving, to a certain extent, owing to their heightened subjective mortality. Moreover, the experience of serious accidents negatively affects savings, whereas that of disasters has no significant effect. [ABSTRACT FROM AUTHOR]

Financial savings at the household level are vital for poverty alleviation, yet they face social, psychological and institutional obstacles. Over recent years, mobile phones have proven effective in enhancing financial inclusion. However, when individuals decide how to save, their preferences remain unclear. This study investigates the preferences of 421 Malian smallholder farmers for a hypothetical mobile savings application using a discrete choice experiment. Apart from standard savings account features such as transaction charges, interest amount and minimum deposit requirements, it assesses preferences for two innovative features designed to address deviations from rational decision‐making. The first feature allows multiple users to pool their savings, utilising social dynamics and peer pressure to encourage responsible savings behaviour and enhance commitment. The second feature offers users the ability to manage their finances more effectively by dividing them into purpose‐specific sub‐accounts. The findings reveal a strong overall preference for saving via the application rather than keeping cash on hand. As anticipated, farmers favour lower costs and deposits and higher interest amounts. Generally, individual saving is preferred over group saving, and the option to compartmentalise is valued, albeit not statistically significantly so. However, the analysis of underlying heterogeneity reveals substantial differences in respondents' preferences for these commitment‐enhancing features. These findings underscore the need for customised approaches that align with farmers' unique preferences and constraints. Such approaches can inform the development of bespoke mobile savings solutions for farming households, thereby boosting their resilience and financial well‐being. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Finance & Financial Law / Finanse i Prawo Finansowe is the property of Wydawnictwo Uniwersytetu Lodzkiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines the national saving behaviour in the process of economic growth through a comparative analysis of countries in developing Asia from a historical perspective. Developing Asia provides an ideal laboratory for the study with considerable differences in the saving behaviour among countries and over time within individual countries, notwithstanding the 'model saver' image of the region that is based mainly on the experience of high-performing East Asian economies. The empirical analysis distinguishes between private and government saving rates, with specific emphasis on the former. The results of the empirical analysis are consistent with the view of a 'virtuous circle' between growth and saving, with growth initiating the saving transition. No evidence to suggest that a prior phase of promoting saving through specific policy initiatives is needed to initiate the process of growth and structural transformation. The private saving rate is also associated positively with export orientation of the economy, and net foreign capital inflows and negatively with the young dependency ratio of the population and domestic credit availability. [ABSTRACT FROM AUTHOR]

This study investigates the saving and investment patterns of 300 salaried individuals in the region. The primary research objectives are twofold: firstly, to analyse the attitudes of salaried individuals towards their saving and investment patterns, and secondly, to examine the potential relationships between the demographic profiles of these individuals and their perceptions of saving and investment patterns. The sample comprises 300 salaried individuals based in Gujarat, reflecting a diverse cross-section of the region's workforce. By exploring the financial behaviours of this demographic, the study aims to contribute valuable insights into the factors influencing saving and investment decisions among salaried individuals in Gujarat. The findings have the potential to inform tailored financial education initiatives, guide policy interventions, and enhance the understanding of how demographic variables intersect with financial attitudes and behaviours in the context of saving and investment. [ABSTRACT FROM AUTHOR]

Introduction: Implantable permanent pacemaker function is supported by their energy sources for a mean period of 8.8–12.4 years. We previously published this case of a patient with a normally functioning VVI pacemaker, 31 years after implantation. Methods and Results: In this report, we state that the device is still functioning normally 40 years after implantation. The most recent device interrogation revealed pacing threshold of 0.9 V/0.5 ms. Holter monitoring for 24 hours recorded a total of 98.707 beats with 97.78% paced beats, without any indication of pacemaker malfunction and with stable heart rate at 70–71 bpm. Conclusion: Most patients with implantable devices have the appropriate follow‐up and settings of low energy consumption. Manufacturing companies should focus on prolonging device longevity, to produce future devices with higher energy capacity. [ABSTRACT FROM AUTHOR]

Penny banks were Victorian institutions intended to encourage thrift among working-class people. Initially considered a model of its type, the Birmingham Penny Bank (1850–1865) collapsed because of mismanagement, bad investments, and self-dealing by its lower-middle-class directors. Thousands of depositors, including women and children, lost part of their savings as a result. An investigation followed to apportion blame for the failure. A key question was the level of liability and compensation owed by the bank's elite former officers and trustees, including William Scholefield MP, all of whom had stepped down some thirteen years earlier. Commentators argued that the trustees had betrayed the trust of the depositors by failing to publicise their departure from the supposedly philanthropic institution. In the end, they contributed to the public subscription raised in support of the victims, without admitting liability or experiencing reputational damage. [ABSTRACT FROM AUTHOR]

The dominant interpretation of the classical theories of aggregate activity levels and economic growth is that they are supply-side in nature with the contributions of Sismondi and Malthus viewed as notable exceptions. However, a focused examination of the key texts of the classical economists such as Cantillon, Quesnay, Turgot, Steuart, Smith, and Ricardo reveals that strong demand-side thinking has in fact been lurking beneath the surface in the theoretical world of the classical economists even before Sismondi and Malthus. The major implication is that Say's law is an imposition on classical economists and that in the case of Ricardo, his endorsement of Say's law cannot easily be reconciled with the demand-side ideas in his writing. [ABSTRACT FROM AUTHOR]

In this study, we examine the importance of estate planning and inter-vivos transfers towards the end of life. To that end, we use administrative data on all deaths taking place in the Netherlands between 2006 and 2013. We link these to wealth and income tax records and the hospital discharge register. Employing these unique data, we distinguish between sudden and non-sudden deaths and study how they compare in terms of wealth at death. Our results show that non-sudden deaths are associated with significantly less financial wealth at the time of death. We interpret this difference as the result of inter-vivos transfers that result from estate planning towards the end of life. We find significant effects not only at the top of the wealth distribution but along the entire upper half of the distribution. Diseases with a relatively low survival rate that do not affect cognitive abilities appear as the most likely to trigger estate planning. These results have important implication for gift and inheritance tax schedules that allow for tax avoidance via exemptions and the progressivity of the tax rate. [ABSTRACT FROM AUTHOR]

Financial literacy is essential knowledge for recent college graduates to be able to manage a stable job, career, and personal wealth. This study examined the financial literacy of 228 college students (49.8% males; 50.2% females) at a regional public university in Eastern Kentucky. The participants were randomly invited to complete a 22-item online financial literacy survey, which was created based on the work of Cude et al. (2006). The survey contents included five demographic questions and 17 five-point Likert scales (1= strongly agree/ always, 5= strongly disagree/ never) to rate participants’ knowledge on investing, saving, budgeting, and credit. The data was collected between mid-October and early December 2022. The authors identified five factors covering personal financial literacy: (1) understanding of investment, (2) understanding of financial risk and budgeting, (3) perceptions of saving and spending, (4) longing for saving and investing, and (5) motivation for learning financial literacy. The results showed that individuals who had taken a finance course had a higher rating in understanding investment, financial risk, and budgeting than those who had not taken a course. Furthermore, those who had taken a financial literacy course received a higher score on the factor--perceptions on saving and spending. This finding suggested increased opportunities to attend financial literacy classes and mock experiences will help students build foundational knowledge and confidence in utilizing practical finance skills. [ABSTRACT FROM AUTHOR]

Copyright of Tendencias: Revista de la Facultad de Ciencias Económicas y Administrativas is the property of Universidad de Narino, Facultad de Ciencias Economics y Administrativas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The nexus between the financial system and economic development is an issue that is as important for economic theory as it is for economic policy. This article provides a theoretical and empirical analysis of the standard literature that uses Joseph A. Schumpeter as an academic patron. The starting point of our study is the theoretical finding that Schumpeter is misinterpreted in the finance and growth literature. We show that this leads to puzzling empirical results and difficulties in explaining even fundamental relationships. After a critical analysis of the literature, we provide our own empirical analysis using a panel of 43 countries to explore the relationships between finance and growth variables based on a truly Schumpeterian and thus monetary growth model. Our empirical analysis shows that (i) dynamic credit variables are better at describing the finance and growth nexus than static credit variables, (ii) as saving is not a prerequisite for credit, we do not find a statistically significant relationship between household saving and gross domestic product (GDP) growth, and (iii) in line with the empirical literature, we find a bi-directional relationship between credit and GDP growth. [ABSTRACT FROM AUTHOR]

Developing countries generally exhibit low ‘saving’ (flow concept) and ‘savings’ (stock concept) rates. The factors underlying household positive or negative saving behaviours in developed and developing countries are not new in the macroeconomic literature. Whereas some determinants are theoretically generic, others are country- or community-specific and worth investigating. In this study, the determinants of household saving behaviour are examined. We obtain the results using primary data from a household survey and a logit econometric model with its associated average marginal effects. Our evidence shows that household income, level of education completed, employment status, and households with launching children (or transitioning older adults) are primary drivers of household saving behaviour in Ghana. Further heterogeneous analysis shows that saving behaviour does not statistically differ by gender but by poverty headcount. In line with the findings of this study, relevant policy prescriptions are discussed.

In daily life, banks usually not only offer their saving programs but also their stocks. This research focuses on designing a financial mathematical task for vocational high school (VHS) which is valid, practical, and has potential effects using saving and stock context. Pendidikan Matematika Realistik Indonesia (PMRI) is the approach used in this research. For the method, we used design research with a type of development studies. This research was conducted at VHS 1 at Jambi City with research subjects were the eleventh-grade students of accounting major. This research produces three financial mathematical tasks with the context of saving and stock. The results of research also found that by using saving and stock context, students became more understanding of real-world problems and wise in making decisions regarding financial problems. This research can also be used as a reference for financial mathematics teaching materials, especially for vocational high school teachers.

Beyond citations, the impact of scientific publications is often measured by usage metrics, such as downloads, save counts and sharing counts. However, the motivations behind the utilization of these publications and their influencing factors have not yet been well studied. Therefore, it remains questionable whether and to what extent usage metrics can reflect the impact of publications. Based on expectancy-value theory, the aim of the present study was to examine the differences in behavioral characteristics and driving factors between article downloading, sharing, and saving, especially document characteristics. For the present study, survey data from 480 respondents across Chinese universities were collected and investigated in terms of the frequency and purpose of three literature usage behaviors, namely, downloading, sharing, and saving. Additionally, 11 document characteristics were used to construct three variables in the research models: intrinsic interest value, attainment value, and utility value. Their effects on three usage behaviors were examined based on path analysis via SmartPLS. The results showed that the overall frequency of article downloading and saving was greater than that of article sharing. The primary purposes of downloading and saving were closely related to scientific research, such as for review and citing. The sharing of articles on social media was mainly for agreeing with their opinions. Both intrinsic interest value and utility value exhibited a significant positive influence on article-downloading, whereas attainment value and intrinsic interest value showed a significant relationship with sharing and saving, respectively. In conclusion, different literature usage behaviors can be triggered and driven by the distinct values of research articles. The results obtained in this study could help to clarify the determinants of different usage behaviors; additionally, they might promote the reasonable application of usage metrics or altmetrics in scientific evaluation. [ABSTRACT FROM AUTHOR]

Microfinance has an important contribution to entrepreneurship development. In Ethiopia, entrepreneurs play a substantial role in the country's economic development. This study focused on entrepreneurship development through microfinance in the Amhara region of Ethiopia. An explanatory research design with quantitative research approaches was used in the study. Three hundred ninety-five entrepreneurs in the Amhara region were included in the study by using a questionnaire. Regression and moderated regression models were employed for data analysis. Data were collected in 2022 in the Amhara region of Ethiopia to examine entrepreneurship development through microfinance. Important data were documented to ensure the validity of the research. The findings showed that microfinance has a significant impact on entrepreneurship development. This study demonstrated that microfinance services such as credit, training, and savings play a catalyst role in the development of entrepreneurs. Moreover, credit and training together have a significant interaction effect on an entrepreneur's growth. Education and business experience have a significant role in increasing the relationship between microfinance and entrepreneurship development. The study recommended that microfinance institutions should provide adequate credit and need-based training for entrepreneurs. Microfinance, in particular, should provide adequate training in finance and business management so that entrepreneurs can effectively manage their businesses. [ABSTRACT FROM AUTHOR]

Introduction: Saving is a journey, beginning with the critical decision to initiate the process, take that pivotal first deposit step, and persistently commit to ongoing savings. However, a lot of saving plans fail already before any deposit is made, and even if the first deposit is made, long-run success of savings is far from guaranteed. In this study, we investigate both individual and saving-goal-specific determinants of successful savings. Method: We use real-life savings data (N = 2,619 saving goals of 808 individuals) from a FinTech company in Sweden that helps individuals save for their goals. In addition, we collect a wide range of individual characteristics related to financial behavior: individuals' objective and subjective financial knowledge, self-control, and information avoidance. Results and discussion: Our analysis uncovered distinctive patterns at different stages of the saving process. While objective financial knowledge didn't correlate with how much one saves, it was significantly related to the likelihood of making the first deposit. Furthermore, individuals with high self-control exhibited greater savings, though self-control was not related to the initiation of saving. Interestingly, subjective financial literacy and information avoidance showed no significant association with overall savings behavior. Additionally, our study indicated that the attainability of goals plays a crucial role in depositing funds, with more achievable goals having higher deposit likelihoods. Conversely, ambitious goals, despite their challenging nature, tended to attract more substantial savings. Our findings, grounded in real-life data, provide valuable insights into the intricate mechanisms influencing successful saving behaviors, shedding light on the complexities of financial decision-making and goal pursuit. [ABSTRACT FROM AUTHOR]

Objectives: Migraine is a neurological disease with a high frequency of incidence. The new monoclonal antibodies selective for the calcitonin gene-related peptide and its ligand (anti-CGRP mAbs) have been marketed both in the USA and EU based on the positive efficacy results in the prevention of migraine. This search has been carried out with the aim of collecting real-world evidence on the effectiveness of anti-CGRP mAbs, performing a cost-savings analysis, and comparing performances among anti-CGRP mAbs medicines marketed in the American and European market. Methods: The literature review has been performed in PubMed database on 31 December 2022; the cost of the unitary dose of anti-CGRP mAbs has been extracted consulting an American national database. Results: The results confirm efficacy and good tolerability of anti-CGRP mAbs, determining a difference in the purchase price. In fact, all extracted studies showed a protective risk factor exposure in monthly migraine days reduction for all the anti-CGRP mAbs, whereas the cost analysis showed that using eptinezumab, in a quarter there is a cost saving of at least $425 per patient, compared with the other anti-CGRP mAbs. Conclusions: With equal efficacy and equal safety, anti-CGRP mAbs should be prescribed also regard to the cost established at the negotiation, making sure to guarantee the best treatment to the patients, but at the same time impacting as little as possible to the healthcare services resources. [ABSTRACT FROM AUTHOR]

Copyright of Industrial Management Perspective / Chashm/&āz-I Mudīriyyat-I Ṣan̒atī is the property of Shahid Beheshti University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Research has demonstrated that after making high goal progress, consumers feel liberated to engage in goal-inconsistent behaviors. But what happens after consumers make high progress in the context of joint goal pursuit? The authors examine how jointly made progress toward a joint goal pursued by couples affects subsequent individually made goal-relevant decisions. Across five experiments with both lab-created couples and married participants and financial data from a couples' money management mobile app, the authors show that after making high progress on a joint goal (vs. low or no progress), partners with higher relationship power are more likely to disengage from the joint goal to pursue personal concerns (e.g., indulge themselves, pursue individual goals), whereas partners with lower relationship power do not disengage from the joint goal and continue engaging in goal-consistent actions that maintain its pursuit. The authors elucidate the underlying mechanism, providing evidence that the joint goal progress boosts the relational self-concept of high- (but not low-) relationship-power partners, and this drives the effects. Importantly, they demonstrate the effectiveness of two theory-grounded and easily implementable interventions that promote goal-consistent behaviors among high-relationship-power consumers in the context of joint savings goals. [ABSTRACT FROM AUTHOR]

Purpose: This systematic review examined the effects of tax-time saving interventions that promote saving with tax refunds from relevant experimental or quasi-experimental studies of interventions aimed toward low- and moderate-income adults delivered when filing U.S. income taxes. Method: A systematic review process was used to search for published and unpublished studies from sources through September 2021. Two reviewers screened studies, extracted data and assessed risk of bias, and effects on savings rate and amount were synthesized using robust variance estimation. Results: This review included 14 unique studies. Five studies reporting 13 effect sizes for savings amount found a small, statistically significant effect (d = 0.06, 95% CI [0.05, 0.08]). Nine studies reporting 35 effect sizes found no statistically significant effect for savings rate (LOR = 4.11, 95% CI [0.42, 40.44]). Discussion: Results suggest some evidence that tax-time savings can be a relatively simple method for increasing the amount low- to moderate-income adults save. [ABSTRACT FROM AUTHOR]

The rapidly increasing human population worldwide causes the natural environment to deteriorate and be destroyed. For this reason, the protection of this natural environment in which we live is an important legacy that can be left to future generations. The aim of this study is to examine the Ministry of National Education's Environmentally Friendly 1000 Schools Project according to the views of teachers. The study was designed according to the case study design. In the study, a total of 13 participants, 8 classroom teachers and 5 administrators (educational managers), were selected according to the criterion sampling method. The data were collected through a semi-structured interview form developed by the researchers. Afterwards, the data analyzed by content analysis using NVivo 9.2 computer package program were interpreted. As a result of the analysis, it is understood from the participant statements that the project will raise environmental and saving awareness through learning by doing and living, contribute to recycling and thus to the national economy, and raise environmental awareness among students. It was understood from the participant statements that the project would bring sustainable environmental awareness to students by drawing attention to the environmental problem. Participants also stated that they did not receive any training on the project. Some participants reported that the faucets installed for saving money were toys for students and therefore caused water waste, and that the materials installed were of poor quality. In addition, the participants stated that the planning of the project was inadequate, some of the materials in the program were not installed, and the supervision, which is a very important element of the project, was not carried out. Various recommendations were made within the framework of the results obtained. [ABSTRACT FROM AUTHOR]

The banking industry in any country ensures, due to the specific nature of its activity, a key role in the functioning of economic mechanisms, with an impact on macroeconomic developments, on the dynamics of the business environment and on the improvement of the Romanian economy. The 32 credit institutions that make up the banking sector in Romania had net assets of 803.4 billion lei in 2023 and have recorded an acceleration in profitability compared to recent years, achieving a net profit of 13.7 billion lei. In addition to the banks' lending role, they also attract deposits, thus protecting the savings of the population and companies. Banks support the economy by granting loans, but it is important that they go to the sectors with the highest development potential and which create wellpaid jobs. [ABSTRACT FROM AUTHOR]

Copyright of Mexican Journal of Economics & Finance / Revista Mexicana de Economia y Finanzas is the property of Instituto Mexicano de Ejecutivos de Finanzas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

IntroductionSaving is a journey, beginning with the critical decision to initiate the process, take that pivotal first deposit step, and persistently commit to ongoing savings. However, a lot of saving plans fail already before any deposit is made, and even if the first deposit is made, long-run success of savings is far from guaranteed. In this study, we investigate both individual and saving-goal-specific determinants of successful savings.MethodWe use real-life savings data (N = 2,619 saving goals of 808 individuals) from a FinTech company in Sweden that helps individuals save for their goals. In addition, we collect a wide range of individual characteristics related to financial behavior: individuals' objective and subjective financial knowledge, self-control, and information avoidance.Results and discussionOur analysis uncovered distinctive patterns at different stages of the saving process. While objective financial knowledge didn't correlate with how much one saves, it was significantly related to the likelihood of making the first deposit. Furthermore, individuals with high self-control exhibited greater savings, though self-control was not related to the initiation of saving. Interestingly, subjective financial literacy and information avoidance showed no significant association with overall savings behavior. Additionally, our study indicated that the attainability of goals plays a crucial role in depositing funds, with more achievable goals having higher deposit likelihoods. Conversely, ambitious goals, despite their challenging nature, tended to attract more substantial savings. Our findings, grounded in real-life data, provide valuable insights into the intricate mechanisms influencing successful saving behaviors, shedding light on the complexities of financial decision-making and goal pursuit.

The purpose of this article is to compare the focus of researchers and the saving behavior of households in different types of crises within the scope of the financial crisis of 2008 and the pandemic crisis. The research focused on the literature review of publications in the WoS bibliographic database concentrated on saving and personal finance with the addition of a crisis or pandemic. 276 publications in the WoS category of Economics were identified. Full and fractional clustering with VOS Viewer was applied. It has been found that there are differences in the behavior of households and in the focus of researchers concerning analyzed terms between the pandemic and other crises. In the case of the financial crisis of 2008, a broader approach prevailed, considering the situation of the financial market and its liquidity, but also inequalities and imbalances at the individual, national and international levels. When it comes to the pandemic, the term savings had the most associations with problems related to the situation of an individual household. Attention was paid to financial security, income, wealth, and demand generated by the household.

Dünyada tam sermaye hareketliliği söz konusu olduğunda ülkelerde yurt içi tasarruflar ile yurt içi yatırımlar arasında ilişkinin olmayacağı, yurt içi yatırımların dünya çapındaki sermaye ile finanse edileceği, yurt içi tasarrufların ise daha cazip yatırım imkanları için dünyaya açılacağı ileri sürülmektedir. Feldstein ve Horioka (1980) araştırmasında bu duruma tezat ampirik bulgulara eriştiği için bu durum literatürde Feldstein-Horioka (FH) bulmacası olarak anılmaktadır. Bu araştırmada, Türkiye’de 1989 yılında sermaye hareketlerinin serbestleşmesi sonrası FH hipotezi çerçevesinde tasarruf-yatırım ilişkisinin araştırılması amaçlanmıştır. Araştırmada, 1990-2021 dönemi yıllık verileri ile ADF ve RALS-ADF birim kök ile EG (1987) ve RALS-EG eşbütünleşme testleri uygulanmıştır. Türkiye örneklemi ile FH hipotezi ilk defa RALS prosedürüne dayalı ekonometrik yöntemlerle araştırılmıştır. Bulgularda, Türkiye’de uzun dönemli tasarruf-yatırım ilişkisinin var olduğu ve yurt içi tasarrufların yatırımların yaklaşık %69’unu karşıladığı tespit edilmiştir. Sonuçta, FH hipotezi geçerlidir. Ülkede kalıcı ekonomik büyüme ve finansal istikrarın sağlanabilmesi için yatırımların finansmanında yerli ve yabancı tasarruf dengesinin gözetilmesi, tasarrufların uzun vadeli üretken yatırımlara kanalize edilmesi ve finansal piyasalarda kırılganlık yaratacak ani kararların alınmaması politika önerileri olarak sunulabilir.

The purpose of this paper is to present insights into the development, testing, and use of the Spender‐Saver Perception Scale—a scale that measures a person's perception of their romantic partner's financial behavior on a continuum from spender to saver. [ABSTRACT FROM AUTHOR]

By purchasing larger quantities of goods and saving them for future consumption households are able to reduce transaction costs and acquire goods at a lower price per unit, presuming they can manage the transportation and storage costs. This study uses variations in state income tax refunds over time to estimate consumption responses to lump‐sum payments. Households purchase around 20 per cent more of easily stored toilet paper in the months in which tax refunds are issued, but do not increase purchases of perishables such as bread and eggs. In addition to purchasing more goods at a lower per‐unit price, households also appear to increase the time until their next purchase, which implies that they are saving goods for consumption over time. These in‐kind savings allow people to smooth their consumption over time, much like pecuniary savings. Government payments that provide lump‐sum payments can benefit consumers by providing additional liquidity to buy and store goods at a lower cost. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Finance & Financial Law / Finanse i Prawo Finansowe is the property of Wydawnictwo Uniwersytetu Lodzkiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Psychological Science is the property of Psychological Science Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article summarizes research literature that has studied how people used the advance Child Tax Credit (CTC) payments that were disbursed by the IRS in 2021. Four primary findings emerge. The ways in which families used the advance CTC payments varied: during the first few months the payments were being distributed, families reported paying down debt more frequently; and in the final months of the payments, families reported more frequent spending. Families primarily used the monthly CTC on household necessities and child-related spending. There was heterogeneity in the spending response across income and race. Lastly, the CTC helped families deal with rising inflation. We discuss these four findings from the extant research in detail. [ABSTRACT FROM AUTHOR]

Using a unique administrative panel data from Denmark, this article documents the dynamic evolution of households' financial wealth, the equity market participation rate (extensive margin), and the conditional risky asset share of financial wealth (intensive margin) over a 7‐year period around a house purchase. We find that households' equity market participation rate falls during the year of house purchase. Conditional on participation, the risky asset share of financial wealth follows a V‐shape around the house purchase. It decreases and reaches the lowest point 1 year before a house purchase, but jumps up immediately after. This finding suggests that of the three channels identified in the literature that are related to the risky asset demand after a house purchase, the debt retirement channel and the diversification effect dominate the liquidity concern. [ABSTRACT FROM AUTHOR]

We investigate the results of the Israeli pension reform that started at the beginning of 2016. This reform created aged, adjusted pension plans that are aimed to fit better the different age categories and protect the over 60 years old savers from the occurrence of a financial crisis close to their retirement. We find that all the over 60 years old funds have outperformed the financial market according to their preferred level of risk. On the other hand, because the financial market blossomed in recent years, they lost a yearly potential return of 1.64%. The pension tracks for under 50 years old savers have gained an extra of 0.73% return per year; however, not all funds in this age category have outperformed the market benchmarks. The reform did not have a substantial impact on the 50–60 years old track since the risk ingredient has not changed dramatically. [ABSTRACT FROM AUTHOR]

Background: All over the world, how health services can be provided in better quality and more economical way has been continuously investigated. In this regard, the implementation of rapid recovery procedures called ERAS (Enhanced Recovery After Surgery) is becoming more widespread recently. In this study, we aimed to investigate the effect of the ERAS protocol on reducing health expenditures. Materials and methods: Patients who underwent elective colorectal surgery in a public hospital between 2008 and 2018 were retrospectively reviewed following the approval of the Ethics Committee. The patients were divided into two groups as those who were applied ERAS protocol and treated with traditional methods. Patient billing information was requested from hospital management for analysis of treatment costs. Results: It was observed that invoices of all patients were arranged according to the common price tariff (Healthcare Implementation Communique (HIC)) which public institutions are subject to. There was no difference between the ERAS group and the control group in terms of demographic characteristics, smoking and alcohol use history, body mass index (BMI) and ASA (American Society of Anesthesiologists) score. All costs examined were statistically lower in the ERAS group (p < 0.001). Duration of hospitalization, time to return to daily activities, readmission rates within 30 days after discharge, rate of complication and mortality were similar in both groups. In the postoperative period, the rate of admission to the ICU (Intensive Care Unit) was considerably higher in the control group (p < 0.001). Conclusion: The implementation of the ERAS protocol provided both clinically positive effects and significant cost savings. A large percentage of the cost savings was achieved by a decrease in the rate of ICU stay. [ABSTRACT FROM AUTHOR]

The electrical energy we need in every aspect of our lives must be used efficiently in order to be sustainable in the face of the limited energy resources and the continuous increase in the demand for energy. One of the ways to use energy efficiently is to control the energy continuously with smart meters. Smart electricity meters are intelligent measuring devices that measure the electrical values of the connected electrical grid, generate billing based on measurement evaluations, and enable remote monitoring and control (switching on/off) of energy through communication technologies. In this study, the design of a single-phase smart electricity meter was carried out in software and hardware and tested in a laboratory environment. The energy measurements taken with the STM32F103 microcontroller used in the design were transferred via both Wi-Fi and LoRa RF communication. In addition, the mobile application interface has been developed and all consumption data is presented to consumers via mobile phones. According to the results of the experimental studies, it has been observed that the measurement accuracy of the device is greater than 99%. In addition, it has been shown that electricity meters can also be used as modems for the installation of LoRa RF communication infrastructure within the scope of the Project. [ABSTRACT FROM AUTHOR]

Copyright of Investigación Económica is the property of Universidad Nacional Autonoma de Mexico, Facultad de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)