No Slack: The Financial Lives of Low-Income Americans by Michael S. Barr
Published By: Washington, D.C.: Brookings Institution Press ISBN: 978-0-8157-2233-5 Date of Publication: 2012
Book Review Detail
Gregory Elliehausen of Board of Governors of the Federal Reserve System
Review DOI: 10.1257/jel.51.2.544.r1 Review Pages: 544-48
Book Review Abstract
Gregory Elliehausen of Board of Governors of the Federal Reserve System reviews, "No Slack: The Financial Lives of Low-Income Americans." by Michael S. Barr. The Econlit abstract of this book begins: "Eleven papers explore the financial constraints and choices of low-income families and examine the ways that low-income families use services through both formal and informal financial institutions, focusing on households in the Detroit area. Papers discuss managing money; banking for all; preferences for plastic; which way to the bank?; borrowing to make ends meet; high-cost homeownership; living on the edge of bankruptcy; expensive tax refunds; paying to save; behaviorally informed regulation; and crisis and reform. Barr is Professor of Law at the University of Michigan Law School. Index."