Keywords
financial innovation, household finance, consumer decision-making
Abstract
Over the past 65 years, fi nancial innovation has presented U.S. households with an ever-widening set of fifi nancial options from an expanding set of fifi rms and accompanied by a sometimes dizzying amount of information. At the same time, consumer fifi nance has increasingly become a “do-it-yourself ” activity (Ryan, Trumbull, and Tufano, 2010). Households are expected to make decisions about pension plan contributions and payouts, to choose from a wide array of credit instruments to fund everything from home purchase to short-term cash needs, and more generally to assume a greater level of responsibility for their fifi nancial well-being.
Original Publication Citation
“Consumer Financial Protection.” 2011. Journal of Economic Perspectives 25(1): 91-114 (with John Y. Campbell, Howell E. Jackson and Peter Tufano). http://doi=10.1257/jep.25.1.91
BYU ScholarsArchive Citation
Campbell, John Y.; Jackson, Howell E.; Madrian, Brigitte C.; and Tufano, Peter, "Consumer Financial Protection" (2011). Faculty Publications. 9053.
https://scholarsarchive.byu.edu/facpub/9053
Document Type
Peer-Reviewed Article
Publication Date
2011
Publisher
Journal of Economic Perspectives
Language
English
College
Marriott School of Business
Department
Finance
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