scholarly journals LAS FINANZAS DE LOS HOGARES MEXICANOS: ANÁLISIS CON REDES BAYESIANAS

2021 ◽  
Vol 80 (317) ◽  
pp. 109
Author(s):  
Griselda Dávila Aragón ◽  
Francisco Ortiz Arango ◽  
Agustín I. Cabrera Llanos
Keyword(s):  
Bayesian Networks ◽  
Financial Markets ◽  
Behavioral Finance ◽  
Financial Stability ◽  
Household Finance ◽  
Financial Education ◽  
Well Being ◽  
Household Composition ◽  
Educational Levels ◽  
Significant Challenge

<p>El bienestar de los hogares está ligado en gran parte al desarrollo de los mercados financieros. El estudio de las finanzas de los hogares analiza las formas en que estos utilizan instrumentos financieros para satisfacer sus necesidades y objetivos; este análisis representa un gran desafío debido a la escasa información estadística y la interrelación entre las variables consideradas. En este trabajo, pionero en el uso de las redes bayesianas en este campo, utilizamos de manera conjunta las finanzas tradicionales y las conductuales. Medimos la probabilidad de prevalencia de estabilidad financiera de los hogares en México; obtenemos un resultado base y posteriormente, al generar distintos escenarios, descubrimos que las variables más determinantes son el manejo del crédito y la conformación de los hogares. Estos resultados subrayan la importancia de promover iniciativas de educación financiera en los distintos niveles, modalidades y subsistemas educativos.</p><p><strong> </strong></p><p align="center">THE FINANCE OF MEXICAN HOUSEHOLDS: ANALYSIS WITH BAYESIAN NETWORKS</p><p align="center"><strong>ABSTRACT</strong></p><p>In today's economy, the well-being of households is considered to be linked mainly to the development of financial markets. The field of household finance analyzes how households use financial instruments to satisfy their needs and achieve objectives. This analysis represents a significant challenge due to scarce statistical information and the interrelation among the variables involved. We follow two aspects: Traditional and behavioral finance. This paper pioneers the use of Bayesian networks in the field. A model measuring the probability of prevalence of financial stability of households in Mexico is used; a baseline result is obtained and then, while generating different scenarios, we discover that credit management and household composition are the most determining variables. These results underscore the importance of promoting different financial education initiatives at different educational levels, modalities, and subsystems.</p>

Financial Behavior

2017 ◽  
Keyword(s):  
Financial Markets ◽  
Behavioral Finance ◽  
Financial Services ◽  
Well Being ◽  
Decision Makers ◽  
Financial Behavior ◽  
Empirical Literature ◽  
Rapid Pace ◽  
Financial Decision ◽  
User Friendly

This book provides a synthesis of the theoretical and empirical literature on the financial behavior of major stakeholders, financial services, investment products, and financial markets. It offers a different way of looking at financial and emotional well-being and the processing of beliefs, emotions, and behaviors related to money than provided by traditional academic finance. The book provides important insights into how cognitive and emotional biases influence various financial decision makers, services, products, and markets. Because noted scholars and practitioners write on their areas of expertise, readers can gain an in-depth understanding of multiple topic from experts around the world. In today’s financial setting, the discipline of behavioral finance continues to evolve at a rapid pace. This book familiarizes readers with not only the core topics and issues but also the latest trends, cutting-edge research developments, and real-world situations. Additionally, discussion of cognitive and emotional issues is supported with research in the field. Overall, the book covers a critical topic, from the theoretical to the practical, while offering a useful balance of detailed and user-friendly discussions. Those interested in a broad survey will benefit, as will those seeking in-depth coverage of biases and other aspect of behavioral finance. As the seventh book in the Financial Markets and Investment Series, Financial Behavior: Players, Services, Products, and Markets offers a fresh look at this fascinating area of behavioral finance.

scholarly journals Issues Related to Financial Education of Youth in a Developing Country (the Case of Albanian Youth)

2020 ◽  
Vol 17 ◽  
Keyword(s):  
Financial Markets ◽  
Developing Country ◽  
Financial Education ◽  
Well Being ◽  
Youth Empowerment ◽  
Opportunities To Learn ◽  
Private Organizations ◽  
National Economic ◽  
The Stability ◽  
The Individual

Nowadays, financial education in a developing country believed to be important as it affects the individual well-being, the national economic growth and the stability of financial markets. Supporting financial education conveys youth empowerment through increasing their income as entrepreneurs, managing their money (incomes, salaries or other benefits) through planning spending and savings, fostering financial inclusion through recognition of financial products, risk management and protection from asymmetric information. Albanians continue to be among people who love education and invest in professions that might enable them to make more money, but they have little or no opportunities to learn about managing their money. Today, almost 4 years after the approval of the National Strategy for Development and Integration (NSDI), this paper based on data analysis of young Albanians perceptions conclude that the national objective of “empowering youth” is considered over 60% unattained, affected also by an outdated strategy on education and on development of a supporting financial education for Albanian youngsters in particular. Government, regulators and private organizations must collaborate and invest in the financial education of youth, for the future will be the product of such efforts that are made today.

scholarly journals The Financial Presentation of Alzheimer’s Disease and Related Dementias

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 685-686
Author(s):  
Lauren Nicholas
Keyword(s):  
Alzheimer’S Disease ◽  
Alzheimer's Disease ◽  
Financial Stability ◽  
Well Being ◽  
Chronic Illnesses ◽  
Older Americans ◽  
Economics Of Aging ◽  
Financial Events ◽  
Credit Data ◽  
Medicare Claims Data

Abstract Dementia, a currently incurable degenerative cognitive disease, represents a major threat to financial stability. Early signs of dementia can include difficulties managing money and forgetting to pay bills, raising concerns about the implications of pre-clinical disease for financial well-being. We linked Medicare claims data to 20 years of consumer credit data for more than 80,000 older Americans living in single households to study the financial presentation of Alzheimer’s Disease and Related Dementias. Using non-parametric regression models, we find elevated rates of payment delinquency, subprime credit, and withdrawal from use of credit products up to 6 years before dementia is clinically diagnosed. Similar patterns did not appear with a number of placebo acute and chronic health conditions, suggesting that the adverse financial events are unique to dementia and do not occur with other acute or chronic illnesses. Part of a symposium sponsored by the Economics of Aging Interest Group.

scholarly journals The future of financial markets and regulation: what strategy for Europe?

foresight ◽  
2014 ◽  
Vol 16 (2) ◽  
pp. 95-108 ◽  
Author(s):  
Jean-Baptiste Gossé ◽  
Dominique Plihon
Keyword(s):  
Financial Markets ◽  
Capital Market ◽  
Financial Stability ◽  
Design Methodology ◽  
Financial Integration ◽  
Content Type ◽  
Realistic Option ◽  
The Future ◽  
Unstable Environment ◽  
Insight Into

Purpose – This article aims to provide insight into the future of financial markets and regulation in order to define what would be the best strategy for Europe. Design/methodology/approach – First the authors define the potential changes in financial markets and then the tools available for the regulator to tame them. Finally, they build five scenarios according to the main evolutions observed on the financial markets and on the tools used by the regulator to modify these trends. Findings – Among the five scenarios defined, two present highly unstable features since the regulator refuses to choose between financial opening and independently determining how to regulate finance in order to preserve financial stability. Three of them achieve financial stability. However, they are more or less efficient or feasible. In terms of market efficiency, the multi-polar scenario is the best and the fragmentation scenario is the worst, since gains of integration depend on the size of the new capital market. Regarding sovereignty of regulation, fragmentation is the best scenario and the multi-polar scenario is the worst, because it necessitates coordination at the global level which implies moving further away from respective national preferences. However, the more realistic option seems to be the regionalisation scenario: this level of coordination seems much more realistic than the global one; the market should be of sufficient size to enjoy substantial benefits of integration. Nevertheless, the “European government” might gradually increase the degree of financial integration outside Europe in line with the degree of cooperation with the rest of the world. Originality/value – Foresight studies on financial markets and regulation are quite rare. This may be explained by the difficulty to forecast what will be their evolution in the coming decades, not least because finance is fundamentally unstable. This paper provides a framework to consider what could be the best strategy of regulators in such an unstable environment.

scholarly journals Disempowering Mindfulness: Reflections on Discovering the Veils of Power in Well-Being and Good Intentions

2017 ◽  
Vol 10 (2) ◽  
pp. 91-95
Author(s):  
Everardo Carvajal
Keyword(s):  
High School ◽  
Los Angeles ◽  
Los Angeles County ◽  
Intervention Strategy ◽  
Well Being ◽  
County Jail ◽  
Educational Levels ◽  
Social Settings ◽  
Wellness Intervention

Despite the widespread popularity of mindfulness as a wellness intervention strategy across educational levels, its proponents are susceptible to countering the intended area of improvement. This article recounts the cumulative reflections of an educator and his attempts to implement mindfulness into high school classes at the Los Angeles County Jail. Beginning with a layout of the physical and social settings, the article examines the ways that unconsciously practicing mindfulness will counter and potentially negate the possible benefits of mindful practice.

scholarly journals Financial Homo Ignorans: measuring vulnerability to behavioral biases in household finance

2020 ◽  
Author(s):  
Kinga Barrafrem ◽  
Daniel Västfjäll ◽  
Gustav Tinghög
Keyword(s):  
Financial Literacy ◽  
Household Finance ◽  
Well Being ◽  
Financial Behavior ◽  
Policy Makers ◽  
Total N ◽  
Behavioral Biases ◽  
Finance Management ◽  
Item Questionnaire ◽  
Application Potential

Understanding systematic differences in sound financial behavior between individuals is a key area for public policy and the possibility to tailor interventions to promote financial well-being. In this paper we develop and validate a concise 12 item questionnaire measuring individual’s vulnerability to behavioral biases in household finance – the Financial Homo Ignorans (FHI) Scale. We conduct two studies with general population samples (total N=2508) and show that the FHI scale can predict behavior in financial tasks such as consumer purchases, loan choices, or investment decisions, also when controlling for demographics, financial literacy and other related constructs. In addition, we show that consumer heterogeneity as assessed by the FHI scale explains the variation in household finance management and financial well-being. The FHI scale has application potential as it can be used by researchers, policy makers, and financial institutions to study the psychological underpinnings of financial behavior and design interventions by targeting individuals who are particularly vulnerable.

scholarly journals Determinants of Polish financial stability in 2017-2018

2019 ◽  
Vol 30 (2) ◽  
pp. 5-19
Author(s):  
Kinga Górska ◽  
Karolina Krzemińska
Keyword(s):  
Financial Markets ◽  
Financial Stability ◽  
Banking Sector ◽  
Financial System ◽  
National Bank ◽  
The Stability

This article seeks to present the essentials of financial stability and to analyse and evaluate selected determinants of stability Poland’s financial system in the years 2017–2018. The study comprises exemplary ratios or indicators that are used in measuring the stability of a financial system. The proposed analysis is confined to selected groups of stability ratios/indicators that are pertinent to the macroeconomic situation, the situation in financial markets, and the situation of the banking sector. The analysis is based upon the data and statistics provided in the reports of the National Bank of Poland, available by 31st November 2018.

scholarly journals Quality of life of patients living with psoriasis: a qualitative study

2020 ◽  
Author(s):  
silmara Meneguin ◽  
Natalia Godoy ◽  
Camila Fernandes Pollo ◽  
Helio Amante Miot ◽  
Cesar Oliveira
Keyword(s):  
Quality Of Life ◽  
Stress Reduction ◽  
Financial Stability ◽  
Social Stigma ◽  
Public Awareness ◽  
Disease Process ◽  
Multidisciplinary Care ◽  
Well Being ◽  
Professional Activities

Abstract Background: Psoriasis is a multifactorial inflammatory disease prevalent in dermatology. We aimed to understand the perceptions of patients living with psoriasis in relation to their quality of life and to identify aspects to improve it. Methods: This is qualitative research carried out in a dermatology outpatient clinic of the São Paulo State University (UNESP) medical school, Botucatu, Brazil, with 81 psoriasis patients. The interviews were transcribed and analysed using the Discourse of the Collective Subject method (DCS). Results: Quality of life was linked to well-being, happiness, leisure, good food and financial stability. However, disease symptoms, social and clothing restrictions, impairment of professional activities and the absence of a cure, negatively influenced their perceptions. Suggestions for improvements included an increase of public awareness, stress reduction, disease acceptance and multidisciplinary care. Conclusion: The meanings of quality of life revealed by the participants are subjective, multidimensional, linked to moments experienced by them and to the health-disease process. Public health policies promoting reduction in social stigma and stress as well as multidisciplinary approaches towards care can contribute to improvements of QoL in psoriasis.

scholarly journals Awareness and Availment of Benefits of Senior Citizens in A Highly Urbanized City

2020 ◽  
Vol 3 (2) ◽  
pp. 159-160
Author(s):  
Louieze Gerald C. Gerolin ◽  
Anabelle S. Palic
Keyword(s):  
Financial Stability ◽  
Senior Citizens ◽  
Senior Citizen ◽  
Well Being ◽  
The Elderly ◽  
Poverty Level ◽  
Full Support ◽  
Social Pension ◽  
The Relationship

Republic Act (RA) 9994, otherwise known as the Expanded Senior Citizen Act of 2010, was enacted into law to provide more benefits to the elderly and deliver full support to their well-being (Inabangan et al., 2019). The benefits are essential as most of them no longer hold jobs, and financial stability can be challenging if not fatal. The current laws and policy provisions on food and medicine discount and the granting of a social pension to underprivileged senior citizens are only palliatives at best. However, they stretch the limited incomes of these individuals and their supporting families who live below the poverty level. The purpose of the study is to assess the level of awareness and extent of availment on the benefits under RA 9994 of senior citizens in a highly urbanized city of Negros Occidental as well as the relationship between awareness and availment. Likewise, explore the challenges encountered by senior citizens in availing their benefits under RA 9994.

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