This famously is the year of elections. So the Stephanomics feed has been taken over by our bonus series, Voternomics. It’s a weekly look at the way geopolitics - and elections - are upending the longstanding assumptions of policymakers and business people around the world. Hosted by Stephanie Flanders, head of Bloomberg Economics and former BBC economics editor, former government advisor Allegra Stratton and Opinion columnist and author Adrian Wooldridge.
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Friedman Forum: How Do Individuals Repay Their Debt, Featuring Neale Mahoney
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Manage episode 228763494 series 1094903
Content provided by UChicago Economics Events and Conversations and Becker Friedman Institute at UChicago. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by UChicago Economics Events and Conversations and Becker Friedman Institute at UChicago or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
When faced with debt across multiple credit cards, do people pay down their balances in a way that makes financial sense? On February 1, BFI hosted Chicago Booth Professor Neale Mahoney for a Friedman Forum luncheon lecture on his recent working paper, “How Do Individuals Repay Their Debt? The Balance-Matching Heuristic.” In the paper, Professor Mahoney and his colleagues examine how credit card holders in the United Kingdom divide their payments between credit card balances. Instead of paying down the card with the highest interest rate first, the authors find people make payments based on the size of the balances on each credit card. These findings reveal the large gap between the optimal way to repay debt, and reality of how people repay their credit card debt.
…
continue reading
55 episodes
MP3•Episode home
Manage episode 228763494 series 1094903
Content provided by UChicago Economics Events and Conversations and Becker Friedman Institute at UChicago. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by UChicago Economics Events and Conversations and Becker Friedman Institute at UChicago or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
When faced with debt across multiple credit cards, do people pay down their balances in a way that makes financial sense? On February 1, BFI hosted Chicago Booth Professor Neale Mahoney for a Friedman Forum luncheon lecture on his recent working paper, “How Do Individuals Repay Their Debt? The Balance-Matching Heuristic.” In the paper, Professor Mahoney and his colleagues examine how credit card holders in the United Kingdom divide their payments between credit card balances. Instead of paying down the card with the highest interest rate first, the authors find people make payments based on the size of the balances on each credit card. These findings reveal the large gap between the optimal way to repay debt, and reality of how people repay their credit card debt.
…
continue reading
55 episodes
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