No slack [[electronic resource] ] : the financial lives of low-income Americans / / Michael S. Barr

• Record Nr.: UNINA9910827778903321
• Autore: Barr Michael S
• Pubbl/distr/stampa: Washington, D.C., : Brookings Institution Press, c2012
• ISBN: 1-280-12768-6; 9786613531568; 0-8157-2234-6
• Edizione: [1st ed.]
• Descrizione fisica: 1 online resource (308 p.)
• Disciplina: 330.9730086/942
• Soggetti: Financial services industry - United States; Banks and banking - Social aspects - United States; Poor - Finance, Personal - United States; Low-income consumers - Finance, Personal - United States
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: 1. Introduction / Michael S. Barr -- 2. Managing money / Michael S. Barr -- 3. And banking for all? / Michael S. Barr, Jane K. Dokko, and Benjamin J. Keys -- 4. Preferences for plastic / Michael S. Barr, Jane K. Dokko, and Eleanor McDonnell Feit -- 5. Which way to the bank? / Michael S. Barr, Jane K. Dokko, Ron Borzekowski, and Elizabeth K. Kiser -- 6. Borrowing to make ends meet / Michael S. Barr, Jane K. Dokko, and Benjamin J. Keys -- 7. High-cost home ownership / Michael S. Barr, Jane K. Dokko, and Benjamin J. Keyes -- 8. Living on the edge of bankruptcy / Michael S. Barr and Jane K. Dokko -- 9. Expensive tax refunds / Michael S. Barr and Jane K. Dokko -- 10. Paying to save / Michael S. Barr and Jane K. Dokko -- 11. Behaviorally informed regulation / Michael S. Barr, Sendhil Mullainathan, and Eldar Shafir -- 12. Epilogue : crisis and reform / Michael S. Barr
• Sommario/riassunto: The financial crisis exposed the potentially unsavory results of the interaction between low- and moderate income households and alternative and mainstream financial institutions. Many households were overleveraged or paid high costs for financial services, while others lacked access to useful financial products that can cushion ; against economic instability. The financial services system is not well designed to serve low- and moderate-income households, leaving them without financial slack: they did not have adequate breathing room for making the financial adjustments that would permit them