Why you might go bankrupt if your next-door neighbor wins the lottery

Research released this month by the Federal Reserve Bank of Philadelphia found a significant jump in bankruptcies among households living near someone who won a big lottery jackpot. The economists theorized that people may have seen the good fortune next door and felt pressure to accumulate more assets of their own, especially flashy purchases like cars, that they simply could not afford.

http://blogs.wsj.com/economics/2016/02/16/why-you-might-go-bankrupt-if-your-next-door-neighbor-wins-the-lottery/

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Stephen By Stephen

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Stephen

Professor and quant guy. Libertarian turned populist Republican. Trying to learn Japanese and play Spanish Baroque music on the ukulele.

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